UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Commercial
Listing Status Pending
Purchase Type For Sale
Square Footage 8,360 sqft
Price per Sqft $142
MLS Listing ID R1638159
Bedrooms 10
Construction Status Existing
HOA Y/N No
Year Built 1890
Annual Tax Amount $22,289
Lot Size 2,269 Sqft
Acres 0.0521
Lot Dimensions 21X108
Property Sub-Type Commercial
Property Description
Two Commercial Tenants leased into 2027
Fully Leased 10 Apartments 28 beds leased thru 7/31/2026
Solid existing cash flow ~$190,200 annual gross thru 7/31/2026 w/value add upside + rent upside growth.
Some apartments have been renovated more than others, can be more renovated / mix of tenancy updated to increase rents further.
Prime location mixed use investment opportunity in the Central Business District and heart of downtown Cortland, NY. 77-79 Main Street is a late 19th century historic building offering character filled 2 bedroom, 3 bedroom & 4 bedroom apartments right in Cortland's lively & vibrant downtown. Renovated and restored in 2018-2019, this historic building combines classic charm with modern amenity housing. Located just steps away from independent shops, cafes, bars, and restaurants along Main Street and close nearby right in the action! In addition to being very close by SUNY Cortland (home to ~7000 undergrad & grad students), the NYS Route 13/NYS 281 commercial corridor Guthrie Medical and other major employers in the area.
OM / financials available with signed NDA.
Taxes on both parcels 77 main st $14154.08+$8135.15 + 79 main st $20764.49+$7744.66 = $50,798~
Assessment both parcels = $1,195,000
first floor has separately metered utilities, commercial + two first floor apartment units pay their own heat/power( baseboard electric) + have washer dryer in unit
2nd and 3rd floor has ducted gas heating (NYESG) landlord pays for heating on 2nd and 3rd + tenants pay separately metered electric on 2nd and 3rd (National Grid)
common area 2nd floor laundry machines
LL pays water / sewer trash & recycling
call agent for questions / more info / showings
Location
State NY
County Cortland
Area Cortland-110200
Direction main st cortland parking out front on street main st is a two way street. nearby NBT bank same block
Rooms
Basement Full
Interior
Interior Features Ceiling Fan(s), Storage, Skylights
Heating Gas, Baseboard, Electric, Forced Air, Hot Water
Cooling Window Unit(s)
Flooring Carpet, Hardwood, Luxury Vinyl, Varies
Furnishings Furnished
Fireplace No
Window Features Skylight(s)
Appliance Built-In Range, Built-In Oven, Dryer, Dishwasher, Electric Cooktop, Electric Oven, Electric Range, Freezer, Gas Water Heater, Refrigerator, Washer
Laundry Common Area, Coin-operated, Washer Hookup
Exterior
Community Features Laundry Facilities
Utilities Available Cable Available, Electricity Available, Electricity Connected, High Speed Internet Available, Sewer Connected, Water Connected
Roof Type Membrane,Rubber
Garage No
Building
Lot Description Near Public Transit, Rectangular, Rectangular Lot
Story 3
Sewer Connected
Water Connected, Public
Structure Type Brick,Frame
Construction Status Existing
Schools
Elementary Schools Alton B Parker
School District Cortland
Others
Senior Community No
Tax ID 110200-086-058-0004-013-000-0000
Security Features Security System Owned,Security Service
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
Nearby School & Business
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Grant Pettrone
Licensed Real Estate Broker, Founder | License ID: 10491209675
Licensed Real Estate Broker, Founder License ID: 10491209675