401 3 St & Adams St Ithaca, NY 14850
- Retail properties
- 17,295 SF
- 1.43 lot acres
Current Use by Public Records
- Retail properties
Property Details for 401 3 St & Adams St
- Lot size
- 1.43 lot acres
- Property size
- 17,295 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 401 Third Street & Adams Street in Ithaca, New York, presents a compelling investment opportunity. The 17,295 square foot building sits on a 1.43-acre lot in a prime commercial corridor, near a signalized intersection on NYS Route 13. Currently operating at 100% occupancy as a bowling center, the sale includes both the real estate and the established business. This presents a unique dual opportunity: continue operating the existing bowling center or pursue extensive redevelopment. The property's flexible zoning allows for a variety of uses, including multi-family residential, retail, and commercial development, with construction permitted up to four stories. Its strategic location near Ithaca's Waterfront District, an area experiencing significant growth with two large mixed-use projects underway, further enhances its potential. The asking price is $2,250,000, translating to $130.10 per square foot. This is a rare chance to acquire a substantial property in a thriving New York city, offering both immediate income and significant long-term redevelopment potential. The property's zoning in Tompkins County allows for a wide range of development options, making it an attractive investment for both experienced developers and those seeking a unique income-generating asset. The 14850 zip code location ensures easy access to the city's amenities and transportation networks.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.5052
- Latitude
- 42.4479
