Fully occupied downtown Ithaca commercial investment property located at 108 E. Center Street, commonly known as The Village Shoppes. This distinctive brick commercial building was built in 1987 and features excellent downtown frontage, multiple tenant spaces, attractive common areas, and a unique interior aEUR“village streetaEUR layout with storefront-style suites. The property totals approximately 13,600 square feet and is situated on a 100aEUR(TM) x 165aEUR(TM) lot. The building is currently 100% occupied with six tenant spaces and scheduled annual rent of approximately $65,600. Current tenants include a mix of office, retail, and service-oriented users. The property is zoned Downtown Commercial and includes a standard elevator serving all floors. Street parking and nearby municipal parking are available. Utilities are landlord paid. Financial information, rent roll, and pro-forma are available in the listing documents. Based on the selleraEUR(TM)s pro-forma, the property is being offered at an approximate 9% pro-forma cap rate. Seller financing or land contract terms may be considered. Buyer to verify all property information, square footage, leases, expenses, taxes, zoning, utility arrangements, permitted uses, and pro-forma assumptions.

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Listed by Ryan Smith of II GEMINI,LLC

 "Based on information submitted to Realcomp as of June 12, 2026 8:45 AM UTC . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

 
 

 

 

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