1251 & 1257 Trumansburg Rd

Investment Overview

Discover a rare and architecturally compelling opportunity in the heart of Ithaca. This two-parcel, ±10.18-acre site along Trumansburg Road includes ±43,901 SF across two buildings, anchored by a striking stone-and-slate structure built in 1920. The offering also consists of a 3,200 SF freestanding storage building and over 140 surface parking spaces, with room to expand. The centerpiece building at 1251 Trumansburg Rd showcases timeless craftsmanship, gothic architectural details, and commanding curb appeal. With its arched stone entryways, dormered windows, and ivy-draped façade, the building offers an inspiring backdrop for repositioning into residential, institutional, or creative office uses. Four legal apartments are included in the layout, and the upper floors have historically housed educational and exhibit uses. The 1257 Trumansburg Rd structure, built in 1970, includes ±23,920 SF of fully leased medical/office space, currently occupied by a long-term user. A new lease is in the process of being finalized, offering a stable income stream for investors or developers during a phased redevelopment approach. Zoned Planned Development, the site supports a wide range of uses—from residential or institutional campuses to mixed-use expansions. Additional acreage offers a unique opportunity for future ground-up development, supported by favorable topography and existing infrastructure.

Investment Highlights

• ±43,901 SF total across two main structures and a freestanding storage building
• ±10.18 Acres of level land with development potential
• 140+ surface parking spaces with room to expand
• Striking 1920 Gothic architecture with strong aesthetic and adaptive reuse potential
• Fully leased 1970-built office/medical building with new lease in progress
• Public utilities: water, sewer, gas, electric, and fiber
• Zoning: Planned Development – supports mixed-use, residential, institutional, or commercial redevelopment