$539,900

50 Main Street, Cortland NY, 13045

Price per sqft$183.20

Built in1972

Property size2,947 sqft

Property typeCommercial

Overview

Active

Listed Aug 25, 2026

Updated 3 weeks ago

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.

Additional information

MLS^® ID: S1702706

Interior Features

Bathrooms: 0
Cooling: Yes
Heating: Yes
Basement: Yes

Exterior Features

Lot Size: 0.08 Acres

Other Property Details

Taxes: $2,965
Tax Frequency: Annually

Courtesy of Real Broker NY LLC, Matt Mastrangelo

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Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither the listing broker(s), Johan Dulfer, nor Luxury Presence shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.

Data last updated 9:49 PM UTC, 8/27/2026