50 Main ST, Cortland, NY 13045
50 Main ST, Cortland, NY 13045
50 Main ST, Cortland, NY 13045
50 Main ST, Cortland, NY 13045
50 Main ST, Cortland, NY 13045
50 Main ST, Cortland, NY 13045
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Michael Miceli

Michael Miceli

+1(315) 591-6101
$ 539,900
Est. payment | /mo

2,947 SqFt

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$ 539,900
Est. payment | /mo
Save Virtual Tour

2,947 SqFt

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

Square Footage 2,947 sqft

Price per Sqft $183

MLS Listing ID S1702706

Construction Status Existing

HOA Y/N No

Year Built 1972

Annual Tax Amount $2,965

Lot Size 3,484 Sqft

Acres 0.08

Lot Dimensions 35X98

Property Sub-Type Office

Property Description

Fully leased downtown Cortland storefront, gutted and rebuilt in 2025 with a new facade completed through a City of Cortland grant. 2,947 SF mixed-use commercial building on Main Street in the CB Central Business district, currently 100% occupied by two tenants producing $65,442 of confirmed gross annual income. Net operating income of $40,936 places the $539,900 asking price at a 7.58% capitalization rate on in-place income alone, and a buyer at 25% down cash flows from day one. The unfinished basement is vacant and is not included in the income figures or in the price. Built out, permitted and leased, it represents meaningful additional upside for the next owner; buyer is responsible for the buildout, permitting and certificate of occupancy. Situated two doors from 38 Main St in the heart of the downtown core, with four available parking spaces. Executed leases, renovation documentation and grant paperwork available to qualified buyers. Buyer to exercise their due diligence.

Location

State NY

County Cortland

Area Cortland-110200

Zoning CB

Direction Located on Main Street in downtown Cortland within the CB Central Business district, two doors from 38 Main St.

Rooms

Basement Full

Interior

Heating Other, See Remarks

Cooling Other, See Remarks

Inclusions Land and Building

Fireplace No

Exterior

Utilities Available Electricity Connected, Sewer Connected, Water Connected

Roof Type Flat

Total Parking Spaces 4

Building

Lot Description Rectangular, Rectangular Lot

Story 1

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Wood Siding

Construction Status Existing

Schools

School District Cortland

Others

Tax ID 86.58-03-10.000

Acceptable Financing Cash

Listing Terms Cash

Special Listing Condition Standard

Virtual Tour https://www.propertypanorama.com/instaview/syr/S1702706

Listed by Real Broker NY LLC

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50 Main ST