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180 Main St Cortland, NY 13045

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For Sale
$399,500

Prime location, multi-unit income property.

Property size:
7,599 SF

Property Features for 180 Main St

General Information

Property type
Other commercial real estate
Square Feet
7,599 SF
Lot Size
9,583 SF

Building Details

Year Built
1930

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Listing Contact
Philip Henry

Listing Agency: Seven Valley Realty, Inc. Listing Agent: Philip Henry

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional commercial property, situated on a prominent corner lot at Main & Union Streets in Cortland's central business district, presents a lucrative investment opportunity. The 7,599 square foot building sits on a 0.22-acre lot and boasts a diverse mix of commercial and residential tenants, ensuring consistent cash flow. Five commercial units are currently occupied, including a 3,500 square foot convenience store (renting for $1,100/month), a 250 square foot smoke shop ($300/month), an 800 square foot hair salon ($500/month), and an 800 square foot heated warehouse with a 9' x 10' overhead door ($300/month). One 800 square foot commercial space is currently vacant, offering immediate potential for increased rental income at a projected $700/month. Adding to the income stream are two 2-bedroom apartments, each renting for $600/month. The total gross monthly rental income is $4,100. The property underwent a complete renovation 11 years ago, including a new roof, vinyl siding, a 600-amp electrical service upgrade, and new hot water heaters. The convenience store features a 10-door walk-in display cooler and a new heating system with central air conditioning. Ample paved parking is available on-site. The high-ceiling basement provides easy access to all mechanical systems. Annual expenses include $6,832 for property taxes, $1,200 for water and sewer, and $1,800 for insurance. Each unit is responsible for its own gas and electricity. This property offers a strong return on investment with its prime location, diverse tenant base, and recently completed renovations.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

TECH BYTES Computer & Electronic Repair Super Lucky Express ... Freight Service Daily grind south Grocery & Convenience Store South smoke shop (Bike/Boat/Book/etc) Store Smoker's Outlet (Bike/Boat/Book/etc) Store

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Cortland
County
Cortland
State
New York
Longitude
-76.1803
Latitude
42.59321

FAQs

What type of property is this?
Commercial real estate - Prime location, multi-unit income property.
Where is this commercial real estate located?
The property is located at 180 Main St Cortland, NY.
What is the asking price?
The asking price for this property is $399,500.
More about this property
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