Commercial Real Estate Market in Cortland, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
110 active listings and 1,025 off-market properties in Cortland, NY. Commercial property asks $79/SF to buy and $121.89/SF/Yr to lease.
Market Trends
Cortland, NY spans 107.9 square miles in Cortland County, New York. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Cortland, NY asks $118/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail vacancy in Cortland, NY runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in Cortland, NY runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in Cortland, NY asks $87/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 74.9%
- Industrial 13%
- Commercial 9.4%
- Mixed use 2.7%
Largest Zones share of zoned land by district
Low Density Residential
General Industrial
Multifamily Residential
Medium Density Residential
General Business Regional
Cortland, NY zones 2,520 acres across 10 districts. Commercial zoning covers 9.4% of zoned land, residential 74.9% and industrial 13%. The largest single district is Low Density Residential at 51.3%. For commercial buyers the practical constraint is that only 22.4% of land carries a commercial or industrial designation.
General Industrial (GI)
The purpose of this zoning district is to provide opportunities for a wide range of manufacturing and industrial operations with minimal outdoor activities or storage, in addition to supporting commercial, institutional, or higher density residential developments.
Market overview
Demographics & Economy
Cortland, NY has 28,406 residents in 12,420 households. Density runs 263 people per square mile. Median household income here is $67,028 and median gross rent $905 a month.
28,406
Population
12,420
Households
2.3
Avg Household Size
36
Median Age
30%
College-Educated
90%
High-School Grad
107.9 sq mi
ZIP Area
263
Density / Sq Mi
$67,028
Median Household Income
$33,869
Median Earnings
$905
Median Rent
$162,700
Median Home Value
Tools
Nearby Markets
Commercial property in Cortland, NY asks $79/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Cortland?
Commercial property in Cortland, NY asks an average of $79 per square foot. The 6 most recent recorded sales traded at a median of $92/SF. Office carries the highest asking price at $118/SF.
How much does it cost to lease commercial space in Cortland?
Asking lease rates in Cortland, NY average $121.89 per square foot per year.
What zoning applies to commercial property in Cortland?
Cortland, NY zones 2,520 acres across 10 districts, of which 9.4% is commercial and 13% industrial. The largest single district is Low Density Residential at 51.3% of zoned land. Residential zoning covers 74.9% and open space 0%.
Where does Realmo's Cortland market data come from?
Realmo compiles Cortland, NY figures from 6 recent recorded sales, 90 active sale listings, 20 active lease listings, 1,025 tracked off-market properties, the current Cortland zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 90 active for-sale and 20 active for-lease listings in Cortland, NY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,520 zoned acres across 10 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level and industrial vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
