780 Warren RdIthaca, NY 14850

Property Details for 780 Warren Rd

Year built

1990

Lot size

26.49 AC

Property size (Sq ft)

221,598 SF

Property type

Manufacturing properties

APN

503201 44.1-1-53.12

APU

50320144115312

Description

This exceptional investment opportunity presents a 275,100 square foot industrial campus situated on a sprawling 48-acre lot in Ithaca, New York. The property comprises two buildings: a 224,000 square foot manufacturing plant and a 51,100 square foot technical center/office space. Built in 1976 and 1984, these single-story structures boast a combination of manufacturing, warehouse, office, and R&D space, perfectly suited for a variety of uses. The property features nine loading docks with nine dock-high doors, and ample ceiling height ranging from 18 to 20 feet. The campus also offers extensive on-site parking accommodating 560 vehicles. All municipal services are readily available. Benefiting from a prime location adjacent to Cornell University's Business & Technology Park and the regional airport, this property enjoys convenient access to Cornell's main campus and is approximately 16 miles from Interstate 81. The asking price is $9,995,000, or $4,997,500 per unit. The seller may consider a leaseback option for the manufacturing plant and/or technical center for a period of 18-24 months. This property is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $83,741,700

  6.5%

  $77,300,100

  7%

  $71,778,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $32,391,700

  Geo Method

  $46,326,400

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $38,934,900

  Mixed-Use / Specialty

  $38,241,100

  Hospitality / Lodging

  $27,333,800

  Office

  $37,436,000

  Institutional / Educational

  $39,557,000

  Residential Income

  $46,281,700

  Multifamily

  $58,584,200

  Automotive / Energy

  $33,906,000

  Parking / Income-Based Land

  $12,248,800

  Restaurant / Food Service

  $18,705,200

  Healthcare / Senior Housing

  $39,784,600

Location Insight

City

Ithaca

County

Tompkins

State

New York

Latitude

42.4937

Longitude

-76.4706

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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