945 Mclean RdCortland, NY 13045

Property Details for 945 Mclean Rd

Year built

1970

Lot size

0.44 AC

Property size (Sq ft)

4,000 SF

Zone code

05 - COMMERCIAL

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

112289 95.12-01-09.000

APU

11228995120109000

Description

This exceptional 2,200-square-foot commercial space in Cortland, NY, offers a versatile opportunity for retail or office use. Located at the highly visible, signalized intersection of McLean Road and Route 281, this property boasts over 18,000 cars in daily traffic counts. The single-story, 4,000-square-foot building, constructed in 1970, sits on a 0.44-acre lot and features nine parking spaces. The space itself is ideal for a variety of uses, including medical offices (previously an eye care facility), professional offices, or retail businesses. Its convenient location is situated between Cortlandville Plaza, Kinney Drugs, and Doug's Fish Fry, providing excellent access from the plaza or Route 281 (West Road). The building also houses Tarson Pool and Spa, adding to the established commercial presence. The property is zoned commercial (APN: 1112289 95.12-01-09.000) and has a tax cost per square foot of $2.27. This space presents a unique opportunity to establish a business in a high-traffic area with ample parking. The property is currently vacant and ready for immediate occupancy. The building consists of two suites, with this 2,200 square foot space being the only available unit.

• CAP approach

  CAP return

  Valuation

  6%

  $800,957

  6.5%

  $739,345

  7%

  $686,534

• Comparable approach

  Method

  Valuation

  Relative Method

  $566,421

  Geo Method

  $810,092

• Alternative Use

  Use

  Valuation

  Residential

  $739,345

  Hospitality

  $677,236

  Educational

  $563,452

  Medical

  $582,830

  Retail

  $876,481

Location Insight

City

Cortland

County

Cortland

State

New York

Latitude

42.5824

Longitude

-76.2124

CBSA code

18660

CBSA name

CORTLAND, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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