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Downtown Cortland Mixed Use 11 Clinton Ave 7 Unit Apartment Building $465,000 ($66,429/Unit) 7.05% Cap Rate Cortland, NY 13045
INVESTMENT HIGHLIGHTS
- 7 units: 2 commercial, 5 apartments
- Excellent for both student and professional rental
- Highly visible retail spaces
- Apartments fully occupied
- Recently renovated
EXECUTIVE SUMMARY
7-unit building available in downtown Cortland! 5 apartments fully occupied on the second floor with rents totaling $5,970/month. Two commercial spaces (2385sf and 625 sf) are available for leasing, or for owner-occupy. Apartments are updated with newer carpets, modern and efficient kitchens, classic tile bathrooms, new mini-splits, and some have two stories with soaring ceilings and skylights. Apartments come furnished with couches, beds, dressers and desks, and have been easy to rent. The commercial spaces each have excellent visibility from the street. The larger includes a full kitchen and storage spaces. Both have private restrooms. A shared laundry room is accessible to tenants. Enjoy many units in a great location for an affordable price!
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Dishwasher
- Microwave
- Washer/Dryer
- High Speed Internet Access
- Refrigerator
SITE AMENITIES
- Fiber Optic Internet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1.5 | 2 | $1,415 | - |
| 2+1.5 | 1 | $1,100 | - |
| 2+1 | 2 | $1,200 | - |
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 110200-086-058-0002-004-000-0000 | Total Assessment | $345,000 (2024) |
| Land Assessment | $32,600 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $312,400 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
110200-086-058-0002-004-000-0000
Land Assessment
$32,600 (2024)
Improvements Assessment
$312,400 (2024)
Total Assessment
$345,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Downtown Cortland Mixed Use | 11 Clinton Ave
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