Ithaca, NY 14850,615 Five Mile DR
Ithaca, NY 14850,615 Five Mile DR
Ithaca, NY 14850,615 Five Mile DR
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$425,000
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8,374 SqFt
Active Under Contract

615 Five Mile DR Ithaca, NY 14850

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Michael Ablan

Michael Ablan

+1(315) 286-3256

UPDATED:

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active Under Contract

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

Rare multi-building commercial property in the Town of Ithaca featuring three versatile structures, strong operational functionality, and significant value-add potential. Situated on 2.00 acres with scenic creek and inlet frontage (0.47 acres under NYS permanent easements), this site offers approximately 8,400 sq ft across an office building, clear-span warehouse, and heated garage/workshop with additional office space and attic storage.

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. Current income is approximately $2,500/month only 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, and contractor facilities 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. 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

Listed by Howard Hanna Horseheads

NEARBY SCHOOL & BUSINESS

SCHOOLSPROPERTIES
Elementary Schools 8
  • 6

    South Hill School

    Public | PK - 5

  • 6

    Belle Sherman School

    Public | PK - 5

  • 5

    Fall Creek Elementary School

    Public | PK - 5

  • 5

    Cayuga Heights Elementary School

    Public | PK - 5

  • 3

    Beverly J Martin Elementary School

    Public | PK - 5

  • 0

    Immaculate Conception School

    Private | PK - 6

  • 0

    Eac Montessori School

    Private | PK - 8

  • 0

    Ithaca Waldorf School

    Private | KG - 2

Middle Schools 2
  • 6

    Boynton Middle School

    Public | 6 - 8

  • 5

    Lehman Alternative Community School

    Public | 6 - 12

High Schools 3
  • 7

    Ithaca Senior High School

    Public | 9 - 12

  • 3

    New Roots Charter School

    Public | 9 - 12

  • 0

    Cascadilla School

    Private | 9 - 12

School and business data provided by Attom Data.

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Michael Ablan

Michael Ablan

NYS Lic. R.E. Broker / Owner / CEO | License ID: 10491209935

+1(315) 286-3256

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