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20 Bomax Dr 73,825 SF Industrial Building Ithaca, NY 14850 $6,450,000 ($87.37/SF) 7.45% Cap Rate
Investment Highlights
- Take advantage of this fully leased, income-producing industrial property perfect for investors and buyers seeking a hands-off investment.
- Positioned with logistics in mind beside Ithaca Tompkins International Airport, near Route 13 and just off the Cornell Business and Technology Park.
- Positioned northeast of Downtown Ithaca near retailers and restaurants, including McDonald’s, TOPS, Target, BJ’s, Subway, and more.
- Leased to NASDAQ-listed TransAct Technologies Inc. since 1989, demonstrating long-term commitment as well as operational stability.
- Institutional-quality industrial asset with a diverse configuration of office, light manufacturing, and a high-bay warehouse.
Executive Summary
20 Bomax Drive represents a compelling opportunity to acquire a fully leased industrial investment in Ithaca, New York.
The property consists of a fully leased 73,825-square-foot industrial facility in Ithaca that was custom-built for TransAct Technologies Inc., which has occupied the asset since 1989. 20 Bomax Drive's layout is designed for operational flexibility, featuring 18,066 square feet of office space, 48,259 square feet of light manufacturing space, and 7,500 square feet of warehouse space, supported by four loading docks, 3-phase power, sprinklers, and 102 parking spaces. The triple net lease extends through May 31, 2031, and includes scheduled rent increases, providing dependable income growth from $480,265.50 to $520,164.48. With long-term tenancy, functional design, and a strategic location near key transportation routes, 20 Bomax Drive offers the durability of a purpose-built industrial asset with the accessibility that today’s users value.
Ithaca delivers a strong setting for industrial investment, backed by a mix of business activity, innovation, and convenient access. Located near Ithaca Tompkins International Airport and the Cornell Business & Technology Park, 20 Bomax Drive is well-positioned for a range of users, including light manufacturing, research-related operations, logistics, and support services. The area provides easy access to major travel routes and is part of an established business community influenced by Cornell University’s research and technology network. For investors, these qualities support long-term tenant demand, lasting relevance, and solid occupancy potential.
The property consists of a fully leased 73,825-square-foot industrial facility in Ithaca that was custom-built for TransAct Technologies Inc., which has occupied the asset since 1989. 20 Bomax Drive's layout is designed for operational flexibility, featuring 18,066 square feet of office space, 48,259 square feet of light manufacturing space, and 7,500 square feet of warehouse space, supported by four loading docks, 3-phase power, sprinklers, and 102 parking spaces. The triple net lease extends through May 31, 2031, and includes scheduled rent increases, providing dependable income growth from $480,265.50 to $520,164.48. With long-term tenancy, functional design, and a strategic location near key transportation routes, 20 Bomax Drive offers the durability of a purpose-built industrial asset with the accessibility that today’s users value.
Ithaca delivers a strong setting for industrial investment, backed by a mix of business activity, innovation, and convenient access. Located near Ithaca Tompkins International Airport and the Cornell Business & Technology Park, 20 Bomax Drive is well-positioned for a range of users, including light manufacturing, research-related operations, logistics, and support services. The area provides easy access to major travel routes and is part of an established business community influenced by Cornell University’s research and technology network. For investors, these qualities support long-term tenant demand, lasting relevance, and solid occupancy potential.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $6,450,000 | Rentable Building Area | 73,825 SF |
| Price Per SF | $87.37 | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1989 |
| Cap Rate | 7.45% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 1.38/1,000 SF |
| Property Subtype | Manufacturing | No. Dock-High Doors/Loading | 3 |
| Building Class | B | No. Drive In / Grade-Level Doors | 1 |
| Lot Size | 7.54 AC | ||
| Zoning | Commercial | ||
| Price | $6,450,000 |
| Price Per SF | $87.37 |
| Sale Type | Investment NNN |
| Cap Rate | 7.45% |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 7.54 AC |
| Rentable Building Area | 73,825 SF |
| No. Stories | 1 |
| Year Built | 1989 |
| Tenancy | Single |
| Parking Ratio | 1.38/1,000 SF |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Commercial |
Amenities
- Air Conditioning
Utilities
- Lighting
- Water
- Sewer
- Heating
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Demographics
Regional Accessibility
City
Population
Miles
Drive Time
Philadelphia
1,584,138
233
4 h 46 m
New York
8,398,748
239
5 h 6 m
Washington
702,455
328
7 h 7 m
Boston
694,583
338
6 h 59 m
Detroit
672,662
424
8 h 40 m
Columbus
892,533
467
9 h 0 m
Access and Labor Force
10 Miles
Total Population
95,016
Total Labor Force
46,946
Unemployment Rate
3.24%
Median Household Income
$68,932
Warehouse Employees
3,437
High School Education Or Higher
95.80%
Property Taxes
| Parcel Number | 503201-045-001-0001-051-013-0000 | Improvements Assessment | $4,746,000 |
| Land Assessment | $754,000 | Total Assessment | $5,500,000 |
Property Taxes
Parcel Number
503201-045-001-0001-051-013-0000
Land Assessment
$754,000
Improvements Assessment
$4,746,000
Total Assessment
$5,500,000
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20 Bomax Dr
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