Retail and Student Housing
134 COLLEGE AVE Ithaca, NY 14850
134 COLLEGE AVE, Ithaca, NY, 14850
$6,000,000
For Sale
$6,000,000
Mixed-use storefronts with apartments configured for 6 units and 33 beds, positioned for off-campus student housing.
Property Size18,750 SF
Price / SF$320
Days on Market273
Property Features for 134 COLLEGE AVE
General Information
- Standard status
- Active
- Size
- 18,750 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1985
Listing agency
Howard Hanna S Tier Inc
(917) 887-5458
Listed by
Zoe Leonard
(917) 887-5458
Source
Xome
Added: Oct 23, 2025 Updated: Jul 22 at 5:50AM Checked: Jul 22 at 5:50AM
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 Howard Hanna S Tier Inc
Investment Insights
Based on property information with market context.
This mixed-use property includes storefront space paired with residential units configured for off-campus student housing totaling 6 units and 33 beds, with a solid rental history as described in the offering materials.
The buildings are presented as being in the heart of Cornell’s college town and surrounded by restaurants, cafes, and shops, with convenient access to campus and strong walkability.
For buyers and brokers evaluating a combined retail-and-residential setup, the existing configuration provides both street-facing commercial space and attached housing capacity in a single package at 134 College Ave, Ithaca, NY 14850.
The buildings are presented as being in the heart of Cornell’s college town and surrounded by restaurants, cafes, and shops, with convenient access to campus and strong walkability.
For buyers and brokers evaluating a combined retail-and-residential setup, the existing configuration provides both street-facing commercial space and attached housing capacity in a single package at 134 College Ave, Ithaca, NY 14850.
Key Highlights
- Mixed‑use storefronts with apartments configured for 6 units and 33 beds for off‑campus student housing
- Zoned MU‑2 (mixed use)
- Year built: 1985
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $355.5k | $18.96 |
| − Vacancy | −$14.9k | −$0.80 |
| EGI | $340.6k | $18.16 |
| − OpEx | −$102.2k | −$5.45 |
| NOI | $238.4k | $12.71 |
18,750 SF · lease $18.96/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.41M
$2.98M – $3.97M
NOI $238,398 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$3.29M
$2.87M – $3.83M
NOI $229,992 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$5.85M
$5.12M – $6.83M
NOI $409,558 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use storefronts with apartments configured for 6 units and 33 beds, positioned for off-campus student housing.
Where is this mixed-use property located?
The property is located at 134 COLLEGE AVE Ithaca, NY.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Mixed‑use storefronts with apartments configured for 6 units and 33 beds for off‑campus student housing; Zoned MU‑2 (mixed use); Year built: 1985
