Price $1,399,000
Status Active
Beds 0
Baths 0 Bath
Home size 51,880 sqft
Lot Size 4.15 ac
Days on Market 96
Offered for sale is this rare development opportunity only 1.7 miles from Cornell University. This is a pre-approved and shovel-ready project offering 47 units and 104 total beds. The planned unit mix is: 8, 1 Bed Units, 21, 2 Bed Units, and 18, 3 Bed Units. With estimated projected gross rents of $1,216,800, an anticipated estimated NOI of $752,096.74 and a projected estimated endmarket value of$12,534,945 based on current market CAP rates. This is an excellent location for development. 1.7 Miles from Cornell University and 3.8 miles from downtown Ithaca, New York. Directly on Dryden Rd. leading into Cornell, near the Ivy Ridge development. This site has a dailytraffic count of 18,276 and affords residents with fast and easy access to one of the main roads entering Cornell.
Property Type(s): Multi Family
Last Updated 10/14/2021 Tract Hamlet of Varna
Year Built 0 Community Other
County Tompkins


School District Ithaca
Elementary School Caroline

Additional Details

AREA Other
BASEMENT Other - See Remarks
HEAT See Remarks
LOT 4.1500 acre(s)
PARKING Other - See Remarks
SEWER Municipal-Available
STYLE 11 Units or more
SUBDIVISION Hamlet of Varna
WATER Municipal-Available



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Listing provided by Brent Katzmann, Warren Real Estate Downtown Office
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