Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Office buildings
1129 Cmns Ave Cortland, NY 13045-1639
Individually Owned
Free & Clear
Property ID
US63-5472264
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1994
Total area
7,924 SF
Lot
0.68 ac (29,520 SF)
Zoning code
05 - COMMERCIAL
APN
110200 86.39-01-45.110
UPID
US63-5472264
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$450k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$685k
Blend (final)
Blend
$565k
Owner & transaction history
J LEE AMBROSE
J LEE AMBROSE
Zoning & alternative use
05 - COMMERCIAL · Cortland, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$825,000
+47.8%
Auto repair, garage
$725,000
+30.6%
Commercial (general)
$630,000
+13.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cortland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cortland submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$555,000
Current use
RESTAURANT
$825,000
Change: +48% · Conversion: Moderate
AUTO REPAIR, GARAGE
$725,000
Change: +31% · Conversion: Difficult
COMMERCIAL (GENERAL)
$630,000
Change: +14% · Conversion: Easy
WAREHOUSE, STORAGE
$480,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$71 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,540
Tax year 2023
Assessed value
$781,800
Assessed 2023
Previous assessed
$781,800
+0.0% YoY
Effective rate
3.39%
On assessed value
Assessed land
$70,000
Assessed improvement
$711,800
Land market value
$95,890
Improvement market value
$975,069
Total market value
$1,070,959
Applied tax rate
110,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1994
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
7,924 SF
Lot
0.68 ac (29,520 SF)
Zoning code
05 - COMMERCIAL
APN
110200 86.39-01-45.110
UPID
US63-5472264
Jurisdiction
CORTLAND
Zoning & alternative use
05 - COMMERCIAL · Cortland, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Cortland, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cortland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$555,000
RESTAURANT
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$725,000
COMMERCIAL (GENERAL)
Est. value
$630,000
WAREHOUSE, STORAGE
Est. value
$480,000
OFFICE BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Cooling
Yes
Stories
1
Buildings
1
Lot
0.68 ac
Current owner
From public records · entity-resolved
J LEE AMBROSE
Individual
Free & Clear · 0 yrs held
Mailing address
1129 CMNS AVE, CORTLAND, NY 13045-1639
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1129 Cmns Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
