180 Main Street, Cortland, NY 13045
sale
$399,500
|
Other
Courtesy Of Seven Valley Realty, Inc.
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, one vacant commercial unit, and two rented 2-bedroom apartments. Commercial spaces and monthly rents are: 3,500 s/f convenience store ($1,100), 250 s/f smoke shop ($300), 800 s/f corner location smoke shop (vacant - $700), 800 s/f Union Street side location hair salon with full kitchen, full bathroom, and laundry room ($500), and 800 s/f heated warehouse space with 9 x 10 overhead door ($300). Apartments rent for $600 / month each. Gross monthly rental income is $4,100 / month, which is BELOW market. 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.
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Property Features
- Age: Over 50 Years Old
- Architecture Style: Other
- Building Units: 2
- Cooling System: Central A/C
- Floors: 2.0
- Heating Fuel: Natural Gas
- MLSID: S1474909
- Roof Type: Composition Shingle
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