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Downtown Mixed-Use Plaza 180 Main St 6,400 SF 100% Leased Retail Building Cortland, NY 13045 $677,081 CAD ($105.79 CAD/SF) 4.50% Cap Rate
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.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,400 SF
Building Class
C
Year Built
1930
Price
$677,081 CAD
Price Per SF
$105.79 CAD
Cap Rate
4.50%
NOI
$30,485 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
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 110200-086-074-0003-022-000-0000 | Improvements Assessment | $390,861 CAD (2025) |
| Land Assessment | $47,539 CAD (2025) | Total Assessment | $438,400 CAD (2025) |
Property Taxes
Parcel Number
110200-086-074-0003-022-000-0000
Land Assessment
$47,539 CAD (2025)
Improvements Assessment
$390,861 CAD (2025)
Total Assessment
$438,400 CAD (2025)
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Downtown Mixed-Use Plaza | 180 Main St
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