$389,500
↓ $10K (2.5%)
●
Commercial -
For Sale
180 Main Street
Cortland, NY 13045
Studio
0 Bath
$2,482
Estimated Monthly
$0
HOA / Fees
2.73%
Cap Rate
About This Property
Prime commercial property located at the intersection of Main and
Union Streets in the Cortland City central business district.
It offers four fully rented commercial locations and two
rented 2-bedroom apartments. Commercial spaces and monthly
rents are: 3,500 s/f convenience store ($1,350), 800 s/f
corner location shop ($750), 800 s/f Union Street side location
hair salon with full kitchen, full bathroom, and laundry room
($525), and 800 s/f heated warehouse space with 9' x 10' overhead
door ($300). Apartments rent for $650 / month each.
Gross monthly rental income is $4,225 / month. Major
annual expenses include $6,832 for property taxes, $1,200 for water
and sewer, and $1,800 for insurance. Each location pays for
its own gas and electricity. Fully renovated 11 years ago:
New roof, vinyl siding, 600-amp electric service, and hot
water heaters. The convenience store offers a 10-door,
walk-in, display cooler and a new heating system with central air
conditioning. Plenty of paved onsite parking in front of the
building. High ceiling basement with easy access to all
mechanicals.
Unit Size
-
Days on Market
332 days
Land Size
0.22 acres
Price per sqft
-
Property Type
Commercial
Property Taxes
$569
HOA Dues
-
Year Built
1965
Listed By
Last updated: 11 days ago (NYSAMLS #S1474909)
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Apr 17, 2024 | Price Decreased |
$389,500
↓ $10K
(2.5%)
|
|
Price Decreased | |||
Jan 23, 2024 | Price Decreased |
$399,500
↓ $70K
(14.8%)
|
|
Price Decreased | |||
Jun 1, 2023 | Listed by SVR Realty LLC | $469,000 | |
Listed by SVR Realty LLC |
Property Highlights
Air Conditioning
Parking Details
Parking Features: Common, On Site, Surfaced
Total Garage and Parking Spaces: 12
Exterior Details
Property Information
Property Condition: Resale
Year Built: 1930
Building Information
Roof: Pitched, Shingle
Lot Information
Rectangular
Lot Size Dimensions: 88X106
Lot Size Acres: 0.2167
Lot Size Square Feet: 9439
Land Information
Land Assessed Value: $0
Financial Details
Tax Assessed Value: $130,000
Tax Annual Amount: $6,832
Utilities Details
Cooling Type: Central Air
Heating Type: Gas
Utilities: Sewer Connected, Water Connected
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
House
4
Beds
4
Baths
-
$455,000
Aug 13, 2023
$455,000
Oct 19, 2023
$835/mo
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|