511-13 Cayuga Street N Ithaca City, NY 14850
Important 8000+ sq. ft. two story commercial building in the heart of Fall Creek. Over 4000 sq.ft. on the main level, which has housed a neighborhood pharmacy since its construction in 1963. Kinneys’ lease expires in July 31, 2025; it has requested to extend an additional 3 years, but nothing is yet signed. Kinneys pays 50% of property taxes, 50% of water & sewer bills & property insurance, & some snow removal. Upstairs are 4 one bedroom apts, each legal for 2 unrelated + a shared laundry. Rent includes water & sewer & a/c. Tenants pay gas & elec. B2a zoning permits 4 story construction up to a height of 40 ft & allowable uses (w/required permits) are hotels, retail, & restaurants. 11 parking spaces & loading area on site. <50% of parcel is developed; great potential for redevelopment. Income $10, 805/mo includes rent from Kinneys of $6180/month.1 longterm apt tenant pays discounted rent. Carlisle TPO (thermoplasticpolyolefin) membrane roof installed in 2012. Sprinklered hallway to apts connected to Fire Dept.
- Property TypeCondo
- NeighborhoodN/A
- CountyTompkins
- Taxes$30,168
- HOA/Condo/Coop Fees$0
- Days on Site28 Days
- MLS StatusActive
- MLS ID NumberR1536638
- Home Size Source N/A
- Year Built1963
- Lot Size0.27 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Block
- Parking CommonOn SiteSurfaced
- Parking Spaces 11
- Sewer Public Sewer
- Basement None
- Number of Stories 222
- Acreage 0.27
- Water Public
- Zoning B2a
- Security Fire Sprinkler System
- Property Sub Type Apartment
- Utilities Sewer ConnectedWater Connected
- Listing Conditions Standard
Interior Features
- Cooling Separate MetersCentral Air
- Heating GasSeparate MetersForced Air
- Flooring LinoleumVinyl
- Fireplaces 0
- Fireplace No
Exterior Features
- Roof MembraneOtherRubberSee Remarks
- Waterfront Property No
- Lot Rectangular
Community Features
- Township Not Applicable
- MLS Area Ithaca-City-500700
- Security Features Fire Sprinkler System