180 Main St - Storefront Retail/Residential FOR SALE


Cortland, NY 13045
$495,000 USD
315-727-9917
180 Main St, Cortland, NY for Sale
$495,000 USD
Storefront Retail/Residential - FOR SALE
1/7
null | 4.5% Cap Rate

180 Main St
Cortland, NY 13045


HIGHLIGHTS

  • 4 commercial spaces, 2 apartments, and 2 storage bays
  • Prime downtown location at Main & Union
  • Separate heat and electric for each unit
  • 4,000 sq. ft. convenience store (2 units combined)
  • Major updates: 600 amp electrical, furnaces, hot water tanks, central air, new doors/windows, and roof
  • Two renovated 2-bedroom apartments with income growth potential

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$495,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

4.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downtown Mixed-Use Plaza

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

CB

APN/PARCEL ID

110200-086-074-0003-022-000-0000

ASK ABOUT THIS PROPERTY

Jeffrey GuidaYaman CommercialMore Info
315-727-9917

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Jeffrey GuidaYaman CommercialMore Info
315-727-9917

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.