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180 Main St
Cortland, NY 13045
Downtown Mixed-Use Plaza · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 4 commercial spaces, 2 apartments, and 2 storage bays
- Separate heat and electric for each unit
- Major updates: 600 amp electrical, furnaces, hot water tanks, central air, new doors/windows, and roof
- Prime downtown location at Main & Union
- 4,000 sq. ft. convenience store (2 units combined)
- Two renovated 2-bedroom apartments with income growth potential
EXECUTIVE SUMMARY
Shopping plaza consisting of 4 commercial spaces, 2 residential apartments and 2 storage bays in downtown location. Separate heat & electric for each unit. The main level commercial spaces include a 4000 sq. ft. convenience store (currently encompassing 2 spaces), a salon, a food service company, a 500 sq. ft. heated storage/warehouse space with a 10x10 overhead door and a 6x10x10 storage space for additional income. Upgrades made in the last 15 years include a 600 amp electrical service, updated furnaces/hot water tanks/central air in convenience store. Building was updated with new commercial doors/windows, and a roof. The upstairs, 2-bedroom apartments were also renovated. Apartments are under rented and potential rental income can be higher. Maintenance expenses are low as the property has no grass to be maintained. Owner pays snow removal & water/sewer. All tenants are responsible for their own trash removal.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,400 SF
Building Class
C
Year Built
1930
Price
$682,011 CAD
Price Per SF
$106.56 CAD
Cap Rate
4.50%
NOI
$30,707 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.67
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
CB - Central business district
Parking
12 Spaces (1.88 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Corner Lot
PROPERTY TAXES
| Parcel Number | 110200-086-074-0003-022-000-0000 | Improvements Assessment | $402,558 CAD |
| Land Assessment | $48,962 CAD | Total Assessment | $451,520 CAD |
PROPERTY TAXES
Parcel Number
110200-086-074-0003-022-000-0000
Land Assessment
$48,962 CAD
Improvements Assessment
$402,558 CAD
Total Assessment
$451,520 CAD
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