260 Tompkins St | Cortland, NY 13045
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- LoopNet Team
260 Tompkins St
Cortland, NY 13045
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Mission-Critical Healthcare Tenant – Leased to Cayuga Medical Associates, PC, part of Cayuga Health System.
- Recent Construction – Completed in 2022 with high-end finishes and modern design, reducing near-term capital expenditures.
- Stable Long-Term Income – NN lease with corporate guarantee, 6.50% cap rate, and annual 2.2% rent escalations beginning in Year 6.
- Built for Growth – Site designed to accommodate an addition; tenant has already expressed interest in expansion.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Auto Repair
Building Size
21,200 SF
Building Class
C
Year Built/Renovated
1940/2022
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.15
Lot Size
3.24 AC
Zoning
B-2 - Highway Commercial Business B-2 District
Parking
45 Spaces (2.12 Spaces per 1,000 SF Leased)
Frontage
280’ on State Route 13
PROPERTY TAXES
| Parcel Number | 112289-096-005-0001-019-000-0000 | Improvements Assessment | $1,339,000 |
| Land Assessment | $161,000 | Total Assessment | $1,500,000 |
PROPERTY TAXES
Parcel Number
112289-096-005-0001-019-000-0000
Land Assessment
$161,000
Improvements Assessment
$1,339,000
Total Assessment
$1,500,000
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