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Property profile & analytics
OFF-MARKET Estimated value $1,570,000
Manufacturing properties

407 Clf St Ithaca, NY 14850-2009

24,232 SF 2.77 ac lot Built 1987
Entity Owned 4-yr Hold Free & Clear
Property ID
US63-0132707
Property summary
AI-generated overview

This vacant 24,232 square foot manufacturing building sits on a 2.77-acre lot in Ithaca, New York, offering significant potential for adaptive reuse or continued light industrial/warehouse use. The property boasts 14' to 16' clear ceiling heights in the warehouse space, enhancing functionality and storage capacity. Access is facilitated by multiple overhead grade-level exterior and interior doors, complemented by three truck-level docks, ensuring efficient loading and unloading. The building comprises approximately 20,000 square feet of manufacturing/warehouse space and an additional 4,000 square feet of office space. Utilities are readily available, including public water and sewer, along with electric and gas services, supported by an 800-amp, three-phase electrical service. Ample on-site parking is provided, catering to employee and visitor needs. The property is strategically located on NYS Route 96, just outside the city of Ithaca, offering convenient access to transportation networks. The extensive yard space, partially fenced, adds to the property's versatility. This property presents a compelling opportunity for businesses seeking a well-equipped facility with substantial space and excellent access. The combination of warehouse, office, and flex space makes it suitable for a variety of uses.

Property profile
Verified
Property type Manufacturing properties
Use group MANUFACTURING (LIGHT)
Year built 1987
Total area 24,232 SF
Lot 2.77 ac (120,661 SF)
Zoning code R-3A
APN 500700 42.-2-5
UPID US63-0132707
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Discover Ithaca Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.65M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.57M
Owner & transaction history
Sered 407 LLC · 4 yrs held
Sered 407 LLC
since 2022
Last sale
$1.4M
2 recorded transactions
2022
$1.4M
2005
$825,000
Zoning & alternative use
R-3A · Ithaca, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

The purpose of this zoning district is to provide one family detached dwelling, two family dwelling, multi family, church and related building.

Zone name Multifamily Residential
General category RESIDENTIAL
Zone area 234.98 ac
Source Realmo
Top alternative use upside
Commercial (general) $2.3M +210.8%
Auto repair, garage $2.1M +179.8%
Office building $1.7M +125.9%
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