601 Dryden RdIthaca, NY 14850

Property Details for 601 Dryden Rd

Year built

1975

Lot size

0.10 AC

Property size (Sq ft)

689 SF

Zone code

B-4

Property type

Gas stations

APN

500700 65.-3-6

APU

5007006536

Description

This 689 sq ft, single-story, 1929 building at 601 Dryden Rd, Ithaca, NY 14850, sits on a 0.1-acre lot and is zoned B4. Originally designed by William Henry Miller, it boasts a repair bay, reception area, versatile loft storage, and indoor/outdoor restrooms. The vacant property presents a unique investment opportunity for owner-users. Its high visibility near Cornell University ensures significant foot traffic. The B4 zoning allows for a 4-story building with 50% lot coverage (approximately 2000 sq ft total footprint). Previous underground gas tanks have been removed under NYS DEC supervision. While featuring a repair bay, the property is unsuitable for an auto inspection station due to having only one bay. The asking price is $550,000. This landmark building offers immense potential for a variety of businesses, capitalizing on its historical charm and prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $131,146

  6.5%

  $121,058

  7%

  $112,411

• Comparable approach

  Method

  Valuation

  Relative Method

  $65,463.60

  Geo Method

  $93,625.70

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $240,344

  Mixed-Use / Specialty

  $118,901

  Hospitality / Lodging

  $84,987.20

  Office

  $116,397

  Institutional / Educational

  $122,992

  Residential Income

  $143,901

  Multifamily

  $182,152

  Automotive / Energy

  $105,422

  Parking / Income-Based Land

  $38,084.40

  Restaurant / Food Service

  $58,158.80

  Healthcare / Senior Housing

  $123,700

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4413

Longitude

-76.4773

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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