52 Elm St Cortland, NY 13045-2215

Property Details for 52 Elm St

Year built

1972

Lot size

0.21 lot acres

Property size

6,467 SF

Zone code

05 - COMMERCIAL

Property type

Turn key restaurants

APN

110200 86.51-02-28.000

APU

11020086510228000

Description

This exceptional 8,854 square foot mixed-use building, situated on a 0.21-acre lot at 52 Elm Street in Cortland, NY, presents a unique investment opportunity. Boasting a rich history as a former fire station, this property currently operates as a thriving bar and tavern, complete with a dining area, an attractive bar, a fully equipped kitchen featuring an Ansul fire suppression system and exhaust hood. Recent upgrades include a new rubber roof (installed within the last five years), the addition of central air conditioning, new flooring throughout, updated electrical systems, and a new furnace. Significant improvements have also been made to the apartments. The second floor comprises two 2-3 bedroom apartments, while the third floor offers two 2-bedroom apartments. Each apartment currently rents for $650 per month plus utilities. The fourth floor provides ample attic storage space. A comprehensive sprinkler system is installed throughout the building for enhanced safety. This turnkey operation offers a blend of commercial and residential income streams, making it an attractive proposition for discerning investors seeking a well-maintained, historically significant property with strong rental potential in a desirable location. The property's combination of historical charm and modern updates creates a compelling investment opportunity.

Location Insight

City

Cortland

County

Cortland

State

New York

Longitude

-76.1734

Latitude

42.6024

CBSA code

18660

CBSA name

CORTLAND, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments