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Multi-Building Commercial Property in Ithaca

615 Five Mile Dr Ithaca, NY 14850

Claim this Listing
For Sale
$425,000

Versatile commercial property with income and redevelopment potential.

Type:Industrial
Property size:
8,400 SF
Lot size:
0.44 Acres
Price / SF:
$50.60/SF
Added:
Mar 12, 2026
Days on Market:
125
Last Refresh:
Jul 2 at 2:10 pm

Property Features for 615 Five Mile Dr

General Information

Standard status
Active
Size
8,400 SF
Lot size
0.44 Acres
Property subtype
Industrial

Building Details

Year Built
1975

Listing office RealtyUSA.com

Listing date Mar 12, 2026

Source Elliman

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 RealtyUSA.com


Investment Insights

Based on property information with market context.

This multi-building commercial property is located in the Town of Ithaca on a 2.00-acre site with creek and inlet frontage, including 0.47 acres under NYS permanent easements. The property features three structures totaling approximately 8,400 sq ft: an office building, a clear-span warehouse, and a heated garage/workshop with additional office space and attic storage. The 1,524 sq ft office building contains two reception areas, three private offices, a break room, storage, and two bathrooms. The 3,650 sq ft metal-frame warehouse offers a wide-open interior suitable for trades, fabrication, storage, or logistics. The 3,200 sq ft garage/office hybrid includes three overhead doors, a heated shop with an oil-separation system, workshop and storage areas, one bathroom, an office section, and attic storage above. Parking is available for 25+ vehicles. The property is currently generating approximately $2,500 per month, with projected stabilized income of $8,000–$10,000 per month based on market rents. The property is located adjacent to the new Amabel residential development within an active growth corridor, with convenient access to downtown Ithaca, Cornell, and major routes. The property is suitable for warehouse, trades bays, industrial shop space, and contractor facilities.

Key Highlights

  • Rare multi‑building commercial property with three versatile structures on 2 acres in Ithaca.
  • Significant value‑add potential with projected stabilized income of $8,000–$10,000/month.
  • Includes office building, clear‑span warehouse, and heated garage/workshop totaling approximately 8,400 sq ft.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Ithaca Dispatch Courier Service University Taxi Courier Service

Suggested Use

Real Estate Agency Law Firm HVAC Service Parking Lot & Garage Storage Facility Skin Care Clinic Spa & Massage Center (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Hair Salon

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Wegmans Catering — 500 S Meadow St, Ithaca, NY 14850

FAQs

What type of property is this?
Flex space - Versatile commercial property with income and redevelopment potential.
Where is this flex space located?
The property is located at 615 Five Mile Dr Ithaca, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Rare multi‑building commercial property with three versatile structures on 2 acres in Ithaca.; Significant value‑add potential with projected stabilized income of $8,000–$10,000/month.; Includes office building, clear‑span warehouse, and heated garage/workshop totaling approximately 8,400 sq ft.
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