407 Seneca St Ithaca, NY 14850
- Investment properties
- 4,118 SF
- 0.15 lot acres
Current Use by Public Records
- C.S.P. Management / Property Management Company / Apartment Rental Agency
- Ithaca Taste of the Nation / Association / Organization
Property Details for 407 Seneca St
- Year built
- 1975
- Lot size
- 0.15 lot acres
- Property size
- 4,118 SF
- Zone code
- B-2D
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 500700 71.-1-9
- APU
- 5007007119
Description
This exceptional 4,197 square foot office building, located at 407 W Seneca St in Ithaca, NY, presents a unique investment opportunity. Situated just three blocks from Ithaca Commons, this property boasts a highly desirable location with excellent visibility. Originally constructed in 1923 by the Ithaca Bottling Works, the building has a rich history and has served as home to numerous successful Ithaca businesses. Meticulously maintained, the building offers eight individual offices, a spacious kitchen, a dedicated conference room, and three bathrooms. A significant advantage is the inclusion of off-street parking, a rare find in this area. Beyond the main office space, the property includes over 1,200 square feet of versatile workshop/storage/flex space with separate entrances, expanding the possibilities for use. The building's adaptability makes it ideal for a variety of purposes, including small businesses, shared professional offices, or even residential conversion, subject to any necessary permits and approvals. Currently owner-occupied, the building will be vacant as of February 1, 2025, providing a clean slate for the new owner. The 0.14-acre lot offers ample space and the building's solid construction and prime location ensure a strong return on investment. Don't miss this chance to acquire a piece of Ithaca's history and secure a thriving future for your business or investment portfolio.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $280,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $350,000
- 6.5%
- $325,000
- 7%
- $320,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $295,000
- Geo Method
- $330,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $290,000
- Retail
- $320,000
- Mixed-Use
- $375,000
- Hospitality
- $310,000
- Educational
- $300,000
- Residential Income
- $340,000
- Energy
- $385,000
- Income-Based Land
- $355,000
- Food Service
- $365,000
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.5045
- Latitude
- 42.44
- CBSA code
- 27060
- CBSA name
- ITHACA, NY METROPOLITAN STATISTICAL AREA
