Active

180 Main Street
Cortland, NY 13045

$389,500
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Property Description

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.

Details

Utilities: Sewer Connected, Water Connected
Cooling: Central Air
Heating: Gas
Construction Materials: Block
Lot Dimensions: 88 X106
Lot Size: 0.2167
Roof: Built Up, Tar Gravel
Sewer: Public Sewer
Water: Public
Parking: Common, On Site, Surfaced