920 Cayuga StIthaca, NY 14850

Property Details for 920 Cayuga St

Year built

1975

Lot size

0.34 AC

Property size (Sq ft)

2,064 SF

Zone code

R-2B

Property type

Retail properties

Property subtype

Retail space

APN

500700 27.-1-4

APU

5007002714

Description

This exceptional 2,064-square-foot commercial property, located at 920 North Cayuga Street in Ithaca, New York's desirable Fall Creek neighborhood, presents a rare leasing opportunity. The single-tenant building, constructed in 1975, sits on a 0.35-acre lot and features a convenient one-story design. Ample parking is provided with 15 spaces exclusively for tenant use. Currently configured as a hair salon, the space is zoned R-2B, allowing for a variety of commercial uses, including cafes, coffee shops, grocery stores, pharmacies, daycare facilities, bed and breakfasts, and other neighborhood commercial establishments (subject to special permit). Its prime location on North Cayuga Street, near the intersection with West Jay Street, ensures high visibility and significant foot traffic. The Fall Creek neighborhood boasts a dense residential population, creating a strong customer base. The property's central location offers unparalleled accessibility to downtown Ithaca, Cornell University, Ithaca High School, and Ithaca Falls/Fall Creek Gorge. This is an ideal space for a business seeking high visibility and convenient access to a thriving community. The building has no elevators.

• CAP approach

  CAP return

  Valuation

  6%

  $489,953

  6.5%

  $452,264

  7%

  $419,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $475,180

  Geo Method

  $679,599

• Alternative Use

  Use

  Valuation

  Residential

  $381,502

  Hospitality

  $349,454

  Educational

  $290,741

  Medical

  $300,740

  Retail

  $452,264

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4504

Longitude

-76.5

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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