Listed by Pyramid Brokerage Company, Inc
$1,050,000
109-111 E. Seneca Street
Details
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 6,236
Net Rentable (SqFt) 1,600
Units 2
Occupancy 50%
Tenancy Multi
Lease Type Modified
Lease Term 5
Lease Expiration 12/31/2028
Remaining Term 3
Rent Bumps Yes
Lease Options 5 year option 109 seneca st E
Class B
Buildings 2
Stories 2
Lot Size (SqFt) 6,236
Zoning Commercial CBD 60 City of Ithaca
Parking Spaces 6 spaces
Parking per 1,000 SqFt 0.96
Investment Type Redevelopment
Lease Commencement 07/01/2023
Sale Condition For sale by owner
Office | 6,236 SqFt
Marketing description
109 and 111 Seneca Street East available for Sale.
Situated in the heart of core downtown Ithaca near bank alley, shops, services, bars, restaurants, hotels, and Ithaca Commons.
Investment site for income, buy and hold and/or redevelopment site capable of utilizing the favorable CBD 60 zoning the lots provide or vertical development.
Owner occupied purchase potential utilize 111 E Seneca and receive the residual income from the 109 E Seneca property
Suitable for Commercial / office use as is. could be converted into another use retail / bar / restaurant etc
Investment highlights
- Double lot two parcels 109 E Seneca Street & 111 E Seneca Street
- 6236~ +/- SF lots combined capable of vertical development without parking requirement
- Favorable CBD 60 zoning/commercial
- Investment site for income buy and hold and or owner occupied with residual supplemental income to subsidize the property's expenses/costs
- Buy and hold investment opportunity for income + redevelopment site investment property - capable of utilizing the favorable zoning for zero lot coverage
- Parking (existing) on site
- ADA accessible
- Historically long-term tenant leased thru 2028 at 109 E Seneca
- Centrally located just steps away from bank alley, shops, professional services, bars, restaurants, hotels, and Ithaca Commons
Listing Contacts
Listed by Pyramid Brokerage Company, Inc
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Is there information that looks off?
