615 Five Mile DR Ithaca, NY 14850
8,374 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 8,374 sqft
Price per Sqft $50
MLS Listing ID R1653936
Construction Status Existing
HOA Y/N No
Year Built 1975
Annual Tax Amount $11,270
Lot Size 0.440 Acres
Acres 0.44
Lot Dimensions 340X418
Property Sub-Type Industrial
Property Description
The 1,524 sq ft office building includes two reception areas, three private offices, a break room, storage, and two bathrooms. The 3,650 sq ft metal-frame warehouse provides a wide-open interior ideal for trades, fabrication, storage, or logistics. The 3,200 sq ft garage/office hybrid offers three overhead doors, a heated shop with oil-separation system, workshop and storage areas, one bathroom, an office section, and attic storage above.
Parking for 25+ vehicles supports contractors, service fleets, and multi-tenant operations. This property is especially well-suited for contractors needing fleet parking, warehouse space, offices, and operational flexibility. Rents could be approximately $2,500/month or more because the owner's business occupies a substantial portion of the property; stabilized income is projected at $8,000–$10,000/month based on market rents. High demand in Ithaca for warehouse, trades bays, industrial shop space, contractor facilities, and redevelopment opportunities makes this a strong value-add investment.
Located adjacent to the new Amabel residential development within an active growth corridor, with convenient access to downtown Ithaca, Cornell, and major routes. Property may also offer potential for future residential conversion or redevelopment opportunities, subject to municipal approvals. A rare opportunity offering operational versatility, income upside, redevelopment potential, and a commercial setting seldom available in this market.
Location
State NY
County Tompkins
Area Ithaca-Town-503089
Zoning Com/Res
Direction From Ithaca take Floral Ave (13A) South, Inlet Rd on your left, left on to Five Mile Road, across from the cemetery.
Body of Water Cayuga Inlet
Rooms
Basement None
Interior
Heating Electric, Oil, Baseboard, Wall Furnace
Flooring Concrete, Linoleum, Vinyl
Inclusions Land and Building
Fireplace No
Exterior
Waterfront Description Canal Access
Roof Type Metal,Shingle
Total Parking Spaces 25
Building
Lot Description Rectangular, Rectangular Lot
Story 1
Sewer Septic Tank
Water Well
Level or Stories One
Construction Status Existing
Schools
Elementary Schools Cayuga Heights Elementary
Middle Schools Boynton Middle
High Schools Ithaca Senior High
School District Ithaca
Others
Tax ID 503089-031-000-0002-030-000-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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