Property profile

615 Five Mile Dr Ithaca, NY 14850

FOR SALE
Other warehouses
Property ID
US63-2425164
3,650 SF 0.44 ac lot Built 1975
Entity Owned 11-yr Hold Free & Clear
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Property summary

AI-generated overview

This multi-building commercial property is located in the Town of Ithaca on a 2.00-acre site with creek and inlet frontage, including 0.47 acres under NYS permanent easements. It comprises three structures totaling approximately 8,400 sq ft: a 1,524 sq ft office building, a 3,650 sq ft clear-span metal-frame warehouse, and a 3,200 sq ft heated garage/workshop with associated office space and attic storage. The office building includes two reception areas, three private offices, a break room, storage, and two bathrooms. The warehouse provides a wide-open interior configured for uses such as trades, fabrication, storage, or logistics. The garage/workshop includes three overhead doors, a heated shop with an oil-separation system, workshop and storage areas, one bathroom, an office section, and attic storage above. The site provides parking for 25+ vehicles, and the property is situated adjacent to the Amabel residential development within an active growth corridor, with access to downtown Ithaca, Cornell, and major routes. The layout supports a range of light industrial and contractor-oriented uses, including warehouse space, trades bays, industrial workshop space, and contractor facilities.

Property profile

Verified
Property type Other warehouses
Use group WAREHOUSE, STORAGE
Year built 1975
Total area 3,650 SF
Lot 0.44 ac (19,166 SF)
APN 503089 31.-2-30
UPID US63-2425164

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Courier Service
  • Courier Service

Location

615 Five Mile Dr Ithaca, NY 14850
Ithaca metro Census 1000 ITHACA, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$230k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$230k

Owner & transaction history

since 2015
2 recorded transactions
2015
$315,000
2015
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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