798 Cascadilla ST Ithaca, NY 14850
18,271 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 18,271 sqft
Price per Sqft $197
MLS Listing ID R1670975
Construction Status Existing
HOA Y/N No
Year Built 1980
Annual Tax Amount $80,690
Lot Size 1.360 Acres
Acres 1.36
Lot Dimensions 262X274
Property Sub-Type Office
Property Description
This 100% occupied, net-leased investment is anchored by a complementary mix of high-quality tenants, including a legal practice, an established engineering firm, and a high-end fitness studio—each operating under NNN lease structures, providing investors with stable, passive cash flow and minimal landlord responsibilities. The building itself has been meticulously maintained and is in impeccable condition, reflecting true institutional-grade ownership and care.
Strategically located adjacent to the Cayuga Inlet, the property benefits from immediate proximity to transformative development activity that continues to elevate the surrounding corridor. Neighboring assets include Cayuga Medical Center's new specialist office facility, a recently completed 141-unit multifamily development, and direct access to the Cayuga Waterfront Trail, all of which contribute to increasing foot traffic, tenant demand, and long-term value appreciation.
The property sits within the highly active Carpenter Business Park corridor, an area that has seen significant public and private investment, positioning it as a premier destination for medical, professional, and lifestyle-oriented users. Its location offers seamless connectivity to State Route 13, the region's primary commercial artery, which carries an excess of 20,000 vehicles per day (per NYS DOT traffic counts near Cascadilla Street)—providing excellent visibility and accessibility for tenants and clients alike.
This offering is particularly well-suited for investors and 1031 exchange buyers seeking a stabilized, income-producing asset in a high-growth market with strong underlying demographics and institutional adjacency. With zero vacancy, durable tenancy, & placement within a corridor defined by continued expansion & infrastructure investment, 798 Cascadilla Street represents a compelling opportunity to secure a core-plus asset in the heart of Ithaca's waterfront district.
Location
State NY
County Tompkins
Area Ithaca-City-500700
Zoning WEMD
Direction East on Cascadilla St towards the inlet. Right into parking lot adjacent to GreenStar. Parking on both sides of building.
Interior
Heating Electric, Gas, Zoned, Forced Air
Cooling Zoned, Central Air
Inclusions Land and Building
Fireplace No
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Roof Type Membrane,Rubber
Total Parking Spaces 65
Building
Lot Description Irregular Lot
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Spray Foam Insulation
Construction Status Existing
Schools
Elementary Schools Beverly J Martin Elementary
Middle Schools Boynton Middle
High Schools Ithaca Senior High
School District Ithaca
Others
Tax ID 500700-043-000-0002-001-002-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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