139 Dryden Rd Ithaca, NY 14850

Property Details for 139 Dryden Rd

Property size

1,500 SF

Property type

Commercial real estate

Description

This exceptional business opportunity presents the chance to acquire a well-established pizzeria located in the vibrant heart of Ithaca's Collegetown, at 139 Dryden Rd, Ithaca, NY 14850. The 1,500 square foot, Class A property boasts a prime location within walking distance of Cornell University, ensuring consistent high foot traffic. Currently operating under a triple net (NNN) lease with 4.8 years remaining (commencing September 1, 2022, and expiring August 31, 2029), this turnkey operation offers significant upside potential. The pizzeria features 35 indoor and 35 outdoor seats, catering to a diverse clientele. The business enjoys a strong annual net operating income (NOI) of $85,500, translating to a compelling $146.67 per square foot price. A full-time manager is already in place, streamlining operations. The business benefits from consistent weekday traffic and significant late-night volume due to its proximity to three nearby bars. Furthermore, a substantial 20% of revenue is generated through popular delivery services like Uber Eats and DoorDash, demonstrating adaptability to modern consumer preferences. The property underwent renovations in 2022, ensuring modern and efficient operations. This is a rare opportunity to acquire a profitable, established business with a strong track record and significant growth potential in a highly desirable location. Asking price is $220,000.