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, & pays for 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.
R1536638
Apartment, 2 Story
Tompkins
1963
0.27
Acres
Public Water
2
Block
Public Sewer
8,432
Sq. Ft.
Residential, Retail
Sewer Connected, Water Connected
5 Total
School Information
Ithaca
Fall Creek Elementary
Boynton Middle
Ithaca Senior High
Interior Features
- Flooring
- Vinyl, Linoleum
- Cooling
- Central Air, Separate Meters
- Heating
- . Forced Air, Individual Meters.
- Basement
- None
- Security
- Fire Sprinkler System
Exterior / Lot Features
- Parking
- 11 Parking Spaces. Common, On Site.
- Exterior
- Block
- Roof
- Other, Membrane, Rubber
- Lot Dimensions
- 94X125
- Zoning
- Commercial
Community Features
- Security Features
- Fire Sprinkler System
- Complex Features
- Fire Sprinkler System
Financial Considerations
500700-46.-1-17
$30,168
Cash, Conventional
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