New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,510,000
Manufacturing properties
121 Central Ave, Cortland, NY 13045
Entity Owned
~
Est. High Equity
Property ID
US63-0032738
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1985
Total area
438,796 SF
Lot
15.63 ac (680,843 SF)
Zoning code
05 - COMMERCIAL
APN
110200 86.60-02-01.110
UPID
US63-0032738
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
$2.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.51M
Owner & transaction history
Ispice Real Estate LLC
Ispice Real Estate LLC
since 2025
7 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Cortland, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$4,145,000
ML approach
$2,875,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.51M
Range $3.16M – $3.86M · ±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
$8 / 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
$155,382
Tax year 2023
Assessed value
$4,300,000
Assessed 2023
Previous assessed
$4,300,000
+0.0% YoY
Effective rate
3.61%
On assessed value
Assessed land
$781,500
Assessed improvement
$3,518,500
Land market value
$1,070,548
Improvement market value
$4,819,863
Total market value
$5,890,411
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1985
Heating
NONE
Cooling
PARTIAL
Buildings
1
Stories
1
Total area
438,796 SF
Lot
15.63 ac (680,843 SF)
Zoning code
05 - COMMERCIAL
APN
110200 86.60-02-01.110
UPID
US63-0032738
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.
Building & site characteristics
From public records
Year built
1985
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
15.63 ac
Current owner
From public records · entity-resolved
Ispice Real Estate LLC
Entity
Mailing address
2889 SW VENICE CT, PALM CITY, FL 34990-8229
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 30, 2025
$14,000,000
Ispice Real Estate LLC
Clearcort LLC
Warranty Deed
$20,000,000 · Export Dev Canada
Oct 30, 2025
—
Ispice Real Estate LLC
—
Deed
related
$5,000,000 · Bank Of Montreal
Dec 27, 2024
—
Graziano Zazzara
Clercort LLC
Deed
—
Sep 6, 2023
—
Clearcort LLC
—
Deed
related
$6,400,000 · Tompkins Community Bank
Sep 5, 2023
—
2023 By Clearcort LLC
—
Deed
related
$6,400,000 · Tompkins Trust Co
Dec 30, 2022
$3,000,000
Clearcort LLC
Central Ave Prop INC
Deed
—
Oct 20, 2020
—
Central Avenue Properties INC
—
Deed
related
$4,730,000 · Private Individual
Jan 16, 2004
$185,000
Northeast Transformer Services
Central Avenue Properties
Warranty Deed
—
—
—
Central Avenue Properties INC
—
Deed Of Trust
related
$4,730,000 · Private Individual
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 121 Central 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.
