Mixed-Use Property with Creative
For Sale
$1,350,000
105 107 109 E Clinton Street, Ithaca, NY 14850
Two adaptable buildings with B-4 zoning, municipal utilities, and access near a signalized intersection.
Property Size6,400 SF
Price / SF$210.94
Days on Market99
Property Features for 105 107 109 E Clinton Street
General Information
Standard status
Active
Size
6,400 SF
Zoning
B-4
Additional Details
Utilities to Site
Yes
Building Details
Buildings
2
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Laura Fiore · License #10301208660
(607) 351-6155
Source:
Nicholcityrealty
Added: Jul 11
Changed: Oct 14
Last Checked: Oct 16 at 8:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Warren Real Estate of Ithaca Inc.
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Investment Insights
Based on property information with market context.
This mixed-use offering includes two buildings totaling 6,400 square feet. The vacant 3,600-square-foot building provides an open interior with 15-foot ceilings, while the adjacent 2,800-square-foot structure is occupied by Pyramid Sound Recording Studio. The recording studio business is excluded from the sale, but the existing improvements provide a distinctive setting for creative or commercial use.
The properties sit at the edge of Ithaca’s Downtown Business District near a signalized intersection. B-4 zoning supports multifamily, mixed-use, business, and professional office uses, along with redevelopment. Both buildings are connected to municipal utilities, and adjacent parcels are also available for a potential larger assemblage.
The properties sit at the edge of Ithaca’s Downtown Business District near a signalized intersection. B-4 zoning supports multifamily, mixed-use, business, and professional office uses, along with redevelopment. Both buildings are connected to municipal utilities, and adjacent parcels are also available for a potential larger assemblage.
Key Highlights
- Two buildings totaling 6,400 square feet
- Vacant 3,600‑square‑foot building with 15‑foot ceilings and an open interior
- Adjacent 2,800‑square‑foot building occupied by Pyramid Sound Recording Studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,030
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,120,600
$2.1M
Cap Rate 7%
$1,514,714
$1.5M
Cap Rate 9%
$1,178,111
$1.2M
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$181.2K $28.32/SF
− Vacancy
−$39.9K −$6.23/SF
EGI
$141.4K $22.09/SF
− OpEx
−$35.3K −$5.52/SF
NOI
$106.0K $16.57/SF
Area
Tompkins County, NY
Vacancy
22.00%
Lease Rate
$28.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,120,600
Cap Rate 7%
$1,514,714
Cap Rate 9%
$1,178,111
Alternative Uses
Best Use
Office B
$1.51M
$1.33M – $1.77M
NOI $106,030 @ 7.0% cap · market cap 7.85%
Second Best
Mixed Use
$946.3K
$828.0K – $1.10M
NOI $66,240 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$2.00M
$1.75M – $2.33M
NOI $139,796 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,588
Businesses Nearby
Explore this area
Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two adaptable buildings with B-4 zoning, municipal utilities, and access near a signalized intersection.
Where is this mixed-use property located?
The property is located at 105 107 109 E Clinton Street Ithaca, NY.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Two buildings totaling 6,400 square feet; Vacant 3,600‑square‑foot building with 15‑foot ceilings and an open interior; Adjacent 2,800‑square‑foot building occupied by Pyramid Sound Recording Studio
