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 verify all information.

Property Features

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