407 Cliff StIthaca, NY 14850

Property Details for 407 Cliff St

Year built

1987

Lot size

2.77 AC

Property size (Sq ft)

24,232 SF

Zone code

R-3A

Property type

Manufacturing properties

APN

500700 42.-2-5

APU

5007004225

Description

This vacant 24,232 square foot manufacturing building sits on a 2.77-acre lot in Ithaca, New York, offering significant potential for adaptive reuse or continued light industrial/warehouse use. The property boasts 14' to 16' clear ceiling heights in the warehouse space, enhancing functionality and storage capacity. Access is facilitated by multiple overhead grade-level exterior and interior doors, complemented by three truck-level docks, ensuring efficient loading and unloading. The building comprises approximately 20,000 square feet of manufacturing/warehouse space and an additional 4,000 square feet of office space. Utilities are readily available, including public water and sewer, along with electric and gas services, supported by an 800-amp, three-phase electrical service. Ample on-site parking is provided, catering to employee and visitor needs. The property is strategically located on NYS Route 96, just outside the city of Ithaca, offering convenient access to transportation networks. The extensive yard space, partially fenced, adds to the property's versatility. This property presents a compelling opportunity for businesses seeking a well-equipped facility with substantial space and excellent access. The combination of warehouse, office, and flex space makes it suitable for a variety of uses.

• CAP approach

  CAP return

  Valuation

  6%

  $9,157,260

  6.5%

  $8,452,850

  7%

  $7,849,080

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,542,070

  Geo Method

  $5,065,840

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $4,257,570

  Mixed-Use / Specialty

  $4,181,710

  Hospitality / Lodging

  $2,988,980

  Office

  $4,093,660

  Institutional / Educational

  $4,325,610

  Residential Income

  $5,060,960

  Multifamily

  $6,406,260

  Automotive / Energy

  $3,707,660

  Parking / Income-Based Land

  $1,339,420

  Restaurant / Food Service

  $2,045,430

  Healthcare / Senior Housing

  $4,350,500

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4452

Longitude

-76.5156

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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