615 Five Mile Drive, Ithaca Town, NY 14850

Property Description

Rare multi-building commercial property in the Town of Ithaca featuring three versatile structures, strong operational functionality, and significant redevelopment potential. Situated on 2.00 acres with scenic creek and inlet frontage (0.47 acres under NYS permanent easements), this site offers approximately 8,400 sq ft across an office building, clear-span warehouse, and heated garage/workshop with additional office space and attic storage. The 1,524 sq ft office building includes two reception areas, three private offices, a break room, storage, and two bathrooms. The 3,650 sq ft metal-frame warehouse provides a wide-open interior ideal for trades, fabrication, storage, or logistics. The 3,200 sq ft garage/office hybrid offers three overhead doors, a heated shop with oil-separation system, workshop and storage areas, one bathroom, an office section, and attic storage above. Parking for 25+ vehicles supports contractors, service fleets, and multi-tenant operations. This property is especially well-suited for contractors needing fleet parking, warehouse space, offices, and operational flexibility. Rents could be approximately $2,500/month or more because the owner’s business occupies a substantial portion of the property; stabilized income is projected at $8,000–$10,000/month based on market rents. High demand in Ithaca for warehouse, trades bays, industrial shop space, contractor facilities, and redevelopment opportunities makes this a strong value-add investment. Located adjacent to the new Amabel residential development within an active growth corridor, with convenient access to downtown Ithaca, Cornell, and major routes. Property may also offer potential for future residential conversion or redevelopment opportunities, subject to municipal approvals. A rare opportunity offering operational versatility, income upside, redevelopment potential, and a commercial setting seldom available in this market.