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Partially Occupied Warehouse in Upstate NY 44 River St 65,000 SF 20% Leased Industrial Building Online Auction Sale Cortland, NY 13045
Investment Highlights
- Investors and owner/users will want to capitalize on this value-add industrial property perfectly situated in Cortland in Upstate New York.
- Delivered partially occupied, buyers can use the remaining space for their business, or lease out to increase the net operating incomes.
- Businesses can take advantage of the surrounding demographics with a population on the rise and a strong workforce within 5 miles.
- Strategically positioned just off Interstate 81, which swiftly connects the property to Syracuse, Albany, Rochester, and beyond.
- Boasts an abundance of nearby retail and conveniences, including Starbucks, McDonald’s, Denny’s Restaurant, P&C Fresh, and hotels.
Executive Summary
44 River Street presents a compelling opportunity for both investors and owner/users seeking scale, flexibility, and long-term upside in Upstate New York.
The 65,000-square-foot facility spans a single story, supplying efficient layouts, open functionality, and flexibility. Situated on 14.95 acres, the property includes 200 parking spaces, providing ample capacity for employees and fleet needs. Originally built in 1975, 44 River Street has been well-maintained over the years and remains durable. The warehouse component is equipped with one exterior dock door, eight drive-in doors, 25-foot clear heights, 15-foot by 18-foot column spacing, and 600a/480v 3p 4w power. The site is also zoned 06, a major Cortland classification that allows for local retail and personal service uses. This zoning allows for future flexibility at the asset. Delivered partially occupied, 44 River Street offers immediate income with additional vacancy available for an owner/user’s operations or future lease-up. Investors can benefit from in-place revenue with the opportunity to increase net operating income over time, while owner/users can offset occupancy costs through existing tenancy.
This location adds meaningful appeal for both investors and owner/users. Positioned in the heart of Central New York along Interstate 81, Cortland offers direct regional access to Syracuse and Binghamton, helping connect the property to major business hubs, labor pools, and surrounding markets. Its location near Cornell University, Syracuse University, and Binghamton University places the asset within reach of strong talent pipelines and resources. Just minutes from town, 44 River Street also benefits from convenient access to restaurants, retailers, and hotels, making it practical for employees, visitors, and business travelers alike. The combination of connectivity, workforce access, and everyday convenience makes this a highly attractive setting for long-term occupancy and investment.
With its strategic location, adaptable configuration, and multiple paths to value creation, 44 River Street stands out as an attractive acquisition with both current income and future upside.
Property tours are available by appointment only. Please contact the listing broker to schedule.
The 65,000-square-foot facility spans a single story, supplying efficient layouts, open functionality, and flexibility. Situated on 14.95 acres, the property includes 200 parking spaces, providing ample capacity for employees and fleet needs. Originally built in 1975, 44 River Street has been well-maintained over the years and remains durable. The warehouse component is equipped with one exterior dock door, eight drive-in doors, 25-foot clear heights, 15-foot by 18-foot column spacing, and 600a/480v 3p 4w power. The site is also zoned 06, a major Cortland classification that allows for local retail and personal service uses. This zoning allows for future flexibility at the asset. Delivered partially occupied, 44 River Street offers immediate income with additional vacancy available for an owner/user’s operations or future lease-up. Investors can benefit from in-place revenue with the opportunity to increase net operating income over time, while owner/users can offset occupancy costs through existing tenancy.
This location adds meaningful appeal for both investors and owner/users. Positioned in the heart of Central New York along Interstate 81, Cortland offers direct regional access to Syracuse and Binghamton, helping connect the property to major business hubs, labor pools, and surrounding markets. Its location near Cornell University, Syracuse University, and Binghamton University places the asset within reach of strong talent pipelines and resources. Just minutes from town, 44 River Street also benefits from convenient access to restaurants, retailers, and hotels, making it practical for employees, visitors, and business travelers alike. The combination of connectivity, workforce access, and everyday convenience makes this a highly attractive setting for long-term occupancy and investment.
With its strategic location, adaptable configuration, and multiple paths to value creation, 44 River Street stands out as an attractive acquisition with both current income and future upside.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | No. Stories | 1 |
| Sale Condition | Auction Sale | Year Built/Renovated | 1975/2005 |
| Type of Ownership | Fee Simple | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 5.71/1,000 SF |
| Property Subtype | Manufacturing | Clear Ceiling Height | 25’ |
| Building Class | B | No. Dock-High Doors/Loading | 1 |
| Lot Size | 14.95 AC | No. Drive In / Grade-Level Doors | 8 |
| Rentable Building Area | 65,000 SF | Parcel Number | 110200-087-038-0001-002-000-0000 |
| Zoning | 06 - General Industrial District in the City of Cortland | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 14.95 AC |
| Rentable Building Area | 65,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1975/2005 |
| Tenancy | Single |
| Parking Ratio | 5.71/1,000 SF |
| Clear Ceiling Height | 25’ |
| No. Dock-High Doors/Loading | 1 |
| No. Drive In / Grade-Level Doors | 8 |
| Zoning | 06 - General Industrial District in the City of Cortland |
| Parcel Number | 110200-087-038-0001-002-000-0000 |
Amenities
- Fenced Lot
- Floor Drains
- Signage
- Storage Space
Utilities
- Lighting - Fluorescent
- Gas - Natural
- Water - City
- Sewer - City
- Heating - Gas
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Demographics
Regional Accessibility
City
Population
Miles
Drive Time
Philadelphia
1,584,138
220
4 h 22 m
New York
8,398,748
226
4 h 42 m
Boston
694,583
322
6 h 33 m
Washington
702,455
337
6 h 56 m
Detroit
672,662
431
8 h 47 m
Columbus
892,533
482
9 h 32 m
Access and Labor Force
10 Miles
Total Population
42,772
Total Labor Force
22,031
Unemployment Rate
3.82%
Median Household Income
$66,459
Warehouse Employees
2,884
High School Education Or Higher
90.50%
$ values in USD
Sale Advisors
Sale Advisors
Joshua Podkaminer,
Managing Member/Principal Broker
Joshua W. Podkaminer, SIOR, CCIM has been actively involved in commercial real estate since 2000 after joining Emhoff Associates as a real estate salesperson then an associate broker. Property acquisition began concurrently and a management company was formed in 2004. The brokerage and
management businesses were consolidated, in 2015, into JWP Commercial
management businesses were consolidated, in 2015, into JWP Commercial
Asher Bitz, Founder & Principal Ward Asset Management LLC
Asher leads Ward Asset Management with a focus on asset optimization and long-term property value. His experience with JWP Commercial brings deep insight into investment strategy, leasing, and development.
About the Auction Technology
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Auction Contact
Marlo Lashley
Contact
Auctioneer License:
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Matterport 3D Exterior
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Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Partially Occupied Warehouse in Upstate NY | 44 River St
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Partially Occupied Warehouse in Upstate NY | 44 River St
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