45 Port Watson StCortland, NY 13045

Property Details for 45 Port Watson St

Year built

1985

Lot size

0.19 AC

Property size (Sq ft)

1,964 SF

Zone code

05 - COMMERCIAL

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

110200 86.66-02-12.000

APU

11020086660212000

Description

This exceptional 3,460 square foot commercial building is situated on a 0.19-acre lot at a high-traffic intersection in Cortland, NY, at 45 Port Watson St. The property, previously home to Queen Subs, has undergone significant renovations since 2022, including complete overhauls of the heating, roof, electrical systems, and flooring. These updates have modernized the space, making it ideal for a variety of uses, including office space or a takeout restaurant. The building's flexible configuration features two separate units, presenting opportunities for multiple tenants or a single owner seeking diverse income streams. The prominent location ensures excellent visibility and accessibility, further enhanced by a newly constructed parking lot and improved entryway. This landmark property offers significant potential for a variety of businesses. For an additional cost, the sale includes all existing business equipment, rights to the Queen Subs brand name, signage, and a vanity phone number, providing a turnkey opportunity for a new owner to continue the established legacy or create a new venture. This is a rare chance to acquire a well-maintained, high-traffic commercial property in a desirable location. The asking price is $249,000.

• CAP approach

  CAP return

  Valuation

  6%

  $393,270

  6.5%

  $363,018

  7%

  $337,088

• Comparable approach

  Method

  Valuation

  Relative Method

  $278,113

  Geo Method

  $397,755

• Alternative Use

  Use

  Valuation

  Residential

  $363,018

  Hospitality

  $332,523

  Educational

  $276,655

  Medical

  $286,170

  Retail

  $430,352

Location Insight

City

Cortland

County

Cortland

State

New York

Latitude

42.5975

Longitude

-76.178

CBSA code

18660

CBSA name

CORTLAND, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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