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    600 Fulton St Ithaca, NY 14850

    Sponsored
    For Sale
    $3,495,000

    High-Traffic Convenience Store & Gas Station

    Property size:
    3,318 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a thriving 3,318 square foot convenience store, gas station, and quick-service restaurant (QSR) located at 600 N Fulton St, Ithaca, NY 14850. The property sits on a 1.15-acre lot and enjoys excellent visibility and accessibility at the entrance to Ithaca on NY State Route 13, boasting high barriers to entry and limited competition. Currently operating under a single-tenant, triple-net (NNN) lease with Mirabito Holdings, the property offers a remaining lease term of 8.5 years with 100% occupancy. The asking price is $3,495,000, translating to a price per square foot of $1,053.35. This prime location near Ithaca's waterfront district benefits from numerous ongoing and planned development projects, ensuring continued growth and strong future prospects. The property's strategic positioning and established tenant make it an attractive investment for discerning buyers seeking a stable, high-return asset in a dynamic market. This turnkey operation requires minimal management, offering a compelling opportunity for passive income generation. The property's size, location, and tenant history combine to create a rare and valuable investment opportunity in the thriving Ithaca market.

    Property Features for 600 Fulton St

    General Information

    Property type
    Restaurants
    Square Feet
    3,318 SF
    Lot Size
    50,094 SF

    HighLights

    • $3,495,000 asking price.
    • 3,318 SF retail building on 1.15 acres.
    • NNN lease with a single tenant (Mirabito Holdings).
    • 8.5 years remaining lease term.
    • 100% occupancy.
    • Prime location at the entrance to Ithaca, NY on NY State Route 13, with high visibility and limited competition.
    Property Profile Location Intelligence

    Current Use by Public Records

    ATM (Route 13 ... Atm Mirabito Convenience Store Convenience Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Ithaca
    County
    Tompkins
    State
    New York
    Longitude
    -76.5095984
    Latitude
    42.4448453

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    FAQs

    What type of property is this?
    Restaurant - High-Traffic Convenience Store & Gas Station
    Where is this restaurant located?
    The property is located at 600 Fulton St Ithaca, NY.
    What is the asking price?
    The asking price for this property is $3,495,000.
    What are key features of this property?
    This property features: $3,495,000 asking price.; 3,318 SF retail building on 1.15 acres.; NNN lease with a single tenant (Mirabito Holdings).
    Request Owner's contact information
    600 Fulton St Ithaca, NY 14850
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    Ithaca, NY 14850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    600 Fulton St Ithaca, NY 14850
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