401 3 St & Adams StIthaca, NY 14850

Property Details for 401 3 St & Adams St

Lot size

1.43 AC

Property size (Sq ft)

17,295 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property, located at 401 Third Street & Adams Street in Ithaca, New York, presents a compelling investment opportunity. The 17,295 square foot building sits on a 1.43-acre lot in a prime commercial corridor, near a signalized intersection on NYS Route 13. Currently operating at 100% occupancy as a bowling center, the sale includes both the real estate and the established business. This presents a unique dual opportunity: continue operating the existing bowling center or pursue extensive redevelopment. The property's flexible zoning allows for a variety of uses, including multi-family residential, retail, and commercial development, with construction permitted up to four stories. Its strategic location near Ithaca's Waterfront District, an area experiencing significant growth with two large mixed-use projects underway, further enhances its potential. The asking price is $2,250,000, translating to $130.10 per square foot. This is a rare chance to acquire a substantial property in a thriving New York city, offering both immediate income and significant long-term redevelopment potential. The property's zoning in Tompkins County allows for a wide range of development options, making it an attractive investment for both experienced developers and those seeking a unique income-generating asset. The 14850 zip code location ensures easy access to the city's amenities and transportation networks.

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4479

Longitude

-76.5052

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