Remarks

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

MLS#: S1536785
Price: $389,500

Style: Apartment
Sq Ft: 7599
Year Built: 1930

County: Cortland
Subdivision: 180 Main Street Llc Lands
Lot Size: 88X106
Tax Fee: 7137

School District: Cortland