For Sale
$4,750,000

309 College AveIthaca, NY 14850

Prime Ithaca, NY location. High-density potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 0.2-acre development site in Ithaca, NY, presents a rare investment opportunity. Located at 309 College Ave, in the heart of Cornell University's Collegetown, this property offers significant potential for high-density development. The MU-2 zoning permits a six-story building with 100% lot coverage and no parking requirements, allowing for the construction of over 47,000 square feet. A variety of uses are permitted, including hotels, student housing, apartments, condominiums, and mixed-use developments, catering to the vibrant college town's high demand. Ithaca boasts a population exceeding 100,000, including over 30,000 students from two major universities. The city also benefits from a thriving biotech manufacturing sector, a regional hospital, and several community colleges. Its strategic location offers easy access to major cities, including New York City (4 hours), Albany (3 hours), Buffalo (2.5 hours), and Syracuse (1 hour). The property is being offered through a sealed bid process, with all bids due by December 19, 2024. Detailed information and bid documents are available upon request. Built in 1968, this one-building site presents a blank canvas for a lucrative development project.

Highlights

  • Exceptional development opportunity in Ithaca, NY's vibrant Collegetown, adjacent to Cornell University.
  • MU-2 zoning allows for a six-story building with 100% lot coverage and no required parking, yielding over 47,000 square feet of potential development.
  • Permitted uses include hotel, student housing, apartments, condominiums, and mixed-use projects.
  • Ithaca boasts a population exceeding 100,000, including over 30,000 students from two major universities, plus a thriving biotech sector and regional hospital.
  • Convenient location: 4 hours from NYC, 3 hours from Albany, 2.5 hours from Buffalo, and 1 hour from Syracuse.
  • Sealed bid process; bids due December 19, 2024. Contact Kyle Steele, 607-342-2148, [email protected] for bid details.

Property Details for 309 College Ave

Property type
Mixed-use properties, Land
Year Built
1968
Buildings
1
Lot Size (sq. ft)
8,712 SF

Location Insight

City
Ithaca
County
Tompkins
State
New York
Latitude
42.4408452
Longitude
-76.4848199
309 College Ave, Ithaca, New York

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309 College Ave
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