Building Details

Year built 1985

Floors in Building 1

Roof type Flat

Listing Agency: Warren Real Estate of Ithaca Inc. (Downtown) a**@warrenhomes.com Show Phone

Listed By: Connor Colbert · License #10401293112 Show Phone

Added: May 11 Changed: Sep 12 Last Checked: Sep 26 at 6:06PM

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MLS# R1681001

Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This conventional restaurant space provides approximately 5,880 square feet overall, with 3,980 square feet devoted to dining, bar, and kitchen functions. A 1,900-square-foot patio adds seating for over 300 guests. The premises are fully built out for restaurant use and previously operated as Collegetown Bagels. Building systems include central air conditioning and natural-gas heating, with a flat roof; the structure was built in 1985.

The property is located at 409 College Avenue in Ithaca's Collegetown district, near Cornell University. The surrounding setting includes Cornell's stated enrollment of 26,000 students and nearly 14,000 faculty and staff, along with a local residential and business population. MU-2 zoning is identified for the property.

Key Highlights

• Approximately 5,880 SF total, including 3,980 SF of dining, bar, and kitchen area
• 1,900 SF patio with seating for over 300 guests
• Fully built‑out restaurant premises with prior Collegetown Bagels operation

Property Analytics

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Current Use

The Student Agencies Building Apartment Building Big Red Shipping ... Moving Company Student Agencies Tutoring Tutoring Service Pre Arrival Freight Service eHub Collegetown Academic Department

Suggested Use

Top Pick Auto Parts Store Electrical Service HVAC Service (Bike/Boat/Book/etc) Store Home Appliance Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)

Lease Type

$6.75 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

1,648

Businesses Nearby

1k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 100%

Insomnia Cookies Dining

1,055 visits/mo 0.1 miles

Teresa's Pizza Dining

271 visits/mo 0.1 miles

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

Market

Lease Benchmarks for Ithaca, NY

$29 /SF/Yr

Avg Asking Price

$25–$45 /SF/Yr

Price Range

8,780 SF

Avg Space Size

This space is priced 55% above the average of $29 /SF/Yr.

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the lease rate? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - MU-2-zoned restaurant premises with a large outdoor seating area and existing dining, bar, and kitchen improvements.

Where is this conventional restaurant located?

The property is located at 409 College Avenue Ithaca, NY.

What is the lease rate?

The lease rate is $45 SF/Yr.

What are key features of this property?

This property features: Approximately 5,880 SF total, including 3,980 SF of dining, bar, and kitchen area; 1,900 SF patio with seating for over 300 guests; Fully built‑out restaurant premises with prior Collegetown Bagels operation