1140 State Route 222Cortland, NY 13045

Property Details for 1140 State Route 222

Year built

1950

Lot size

0.50 AC

Property size (Sq ft)

1,344 SF

Zone code

05 - COMMERCIAL

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

112289 86.13-01-61.000

APU

11228986130161000

Description

This exceptional 1,344 square foot commercial property, situated on a half-acre lot at 1140 State Route 222 in Cortland, NY, presents a unique investment opportunity. Its prime corner location offers high visibility and easy access, adjacent to a thriving shopping center ensuring consistent foot traffic. Previously used as an auto repair shop, the building boasts two spacious service bays equipped with overhead doors, perfect for various uses. A comfortable waiting room caters to customers, while dedicated office space and two bathrooms provide essential amenities. Ample parking is available in the large, on-site lot, ensuring convenience for both employees and clients. A secure, fenced-in area offers additional storage or outdoor workspace. The property's versatility makes it suitable for a wide range of businesses, including but not limited to auto repair, drive-thru restaurants, beauty salons, retail stores, or creative ventures. This highly sought-after location offers endless possibilities for entrepreneurs seeking a thriving commercial space. The asking price is $179,900. Don't miss this chance to secure a property with exceptional potential in a bustling commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $269,122

  6.5%

  $248,420

  7%

  $230,676

• Comparable approach

  Method

  Valuation

  Relative Method

  $190,317

  Geo Method

  $272,191

• Alternative Use

  Use

  Valuation

  Residential

  $248,420

  Hospitality

  $227,551

  Educational

  $189,320

  Medical

  $195,831

  Retail

  $294,498

Location Insight

City

Cortland

County

Cortland

State

New York

Latitude

42.5991

Longitude

-76.2001

CBSA code

18660

CBSA name

CORTLAND, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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