224 State St Ithaca, NY 14850
- Investment properties
- 9,660 SF
- 0.05 lot acres
Current Use by Public Records
- Simeon's American Bistro / Bistro / American Restaurant
Property Details for 224 State St
- Year built
- 1975
- Lot size
- 0.05 lot acres
- Property size
- 9,660 SF
- Zone code
- CBD-60
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 500700 70.-3-7
- APU
- 5007007037
Description
This exceptional investment opportunity presents a four-story building totaling over 12,000 square feet, situated on a 0.05-acre lot at 224 E State St in Ithaca, New York. Located in the heart of the Finger Lakes region, this property enjoys a prime position on "Restaurant Row," a prominent commercial corridor leading to the Ithaca Commons. The building underwent comprehensive renovations in 2016, redesigned by architect Jason Demarest. The property boasts elevator service and features five bright, spacious apartments, each with one bedroom and one featuring an additional den. All apartments showcase high-quality finishes. A significant aspect of this investment is the presence of Simeons Restaurant, a long-term, quality tenant, occupying a substantial portion of the building's space. This property offers a unique blend of commercial and residential income streams, capitalizing on the consistently high demand driven by the proximity to Cornell University and Ithaca College. The building's location within a thriving commercial area ensures strong rental income and significant potential for future growth, making it an ideal investment for those seeking a stable and lucrative return in Ithaca's vibrant market. The asking price for this iconic building is $2,500,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ithaca
- County
- Tompkins
- State
- New York
- Longitude
- -76.4959
- Latitude
- 42.4399
- CBSA code
- 27060
- CBSA name
- ITHACA, NY METROPOLITAN STATISTICAL AREA
