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40 Catherwood Rd
Ithaca, NY 14850
Target Ground Lease · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High-Performing Target Ground Lease
- Prime Retail Location Adjacent to The Shops At Ithaca Mall
- Long-Term Operating History & Tenant Commitment
- Strong Demographics & Accessibility
EXECUTIVE SUMMARY
Landmark Investment Sales is pleased to present the opportunity to acquire the Target (Ground Lease) in Ithaca, New York. Target is strategically located at The Shops at Ithaca Mall, with nearby retailers including Best Buy, Michaels, Dick's Sporting Goods and BJ’s Wholesale. Target has successfully operated at this location for over 20 years and recently exercised the first of eight options, cementing its commitment to the site.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Department Store
Building Size
126,000 SF
Building Class
C
Year Built
2002
Price
$7,960,654 CAD
Price Per SF
$63.18 CAD
Cap Rate
5.75%
NOI
$457,738 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
10.35 AC
Zoning
comm
Parking
373 Spaces (2.96 Spaces per 1,000 SF Leased)
Frontage
1,302’ on Highgate Circle
PROPERTY TAXES
| Parcel Number | 503201-047-001-0001-022-000-0000 | Improvements Assessment | $10,533,115 CAD |
| Land Assessment | $331,585 CAD | Total Assessment | $10,864,700 CAD |
PROPERTY TAXES
Parcel Number
503201-047-001-0001-022-000-0000
Land Assessment
$331,585 CAD
Improvements Assessment
$10,533,115 CAD
Total Assessment
$10,864,700 CAD
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