Positioned within one of Ithaca’s most dynamic and rapidly evolving submarkets, 798 Cascadilla Street presents a rare opportunity to acquire a Class A, fully leased professional asset with strong in-place income and exceptional long-term fundamentals. 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.

Listing courtesy of Kyle Steele of Howard Hanna S Tier Inc (607) 342-2148

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Last checked 2026-05-17 12:14 PM UTC