224 State StIthaca, NY 14850

Property Details for 224 State St

Year built

1975

Lot size

0.05 AC

Property size (Sq ft)

9,660 SF

Zone code

CBD-60

Property type

Investment properties

Property subtype

Live-work space

APN

500700 70.-3-7

APU

5007007037

Description

This exceptional investment opportunity presents a four-story building totaling over 12,000 square feet, situated on a 0.05-acre lot at 224 E State St in Ithaca, New York. Located in the heart of the Finger Lakes region, this property enjoys a prime position on "Restaurant Row," a prominent commercial corridor leading to the Ithaca Commons. The building underwent comprehensive renovations in 2016, redesigned by architect Jason Demarest. The property boasts elevator service and features five bright, spacious apartments, each with one bedroom and one featuring an additional den. All apartments showcase high-quality finishes. A significant aspect of this investment is the presence of Simeons Restaurant, a long-term, quality tenant, occupying a substantial portion of the building's space. This property offers a unique blend of commercial and residential income streams, capitalizing on the consistently high demand driven by the proximity to Cornell University and Ithaca College. The building's location within a thriving commercial area ensures strong rental income and significant potential for future growth, making it an ideal investment for those seeking a stable and lucrative return in Ithaca's vibrant market. The asking price for this iconic building is $2,500,000.

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4399

Longitude

-76.4959

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].