# 38 Main Street, Cortland, NY 13045 > **TL;DR:** commercial, $595,000 ($92/sqft), built 1956, 6,450 sqft. Est. $3,183/mo. Listed 77 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $595,000 | | Price/sqft | $92 | | Square Feet | 6,450 | | Year Built | 1956 | | Lot Size | 2,448 sqft (0.06 acres) | | Stories | 3 | | Property Type | Commercial (Office) | | Status | Active | | Days on Market | 77 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $3,009 | | Estimated Insurance | $174 | | **Total** | **$3,183** | ## Property Highlights - Built in 1956 - 0.06 acre lot - 3 stories - 4 parking spaces ## Description ### Agent Description Historic mixed-use redevelopment on Main Street in downtown Cortland. 6,450 square feet across three stories in the CB Central Business district, built 1956, offered at $595,000 - roughly $92 per square foot and $99,167 per unit across six units. The building is 25 percent occupied today and produces $25,800 of rent and $18,060 of net operating income. Fully leased at market rents it supports close to $130,800 of gross potential rent, $124,300 of effective gross income after a 5 percent vacancy allowance, and close to $74,500 of net operating income - a 12.5 percent pro-forma cap rate at the asking price. The ground floor is leased and that tenancy can continue in place, or a buyer can reposition the space as a restaurant, bar or destination storefront. The upper floors convert into five one-bedroom, one-bath apartments, in a downtown submarket where one-bedroom inventory is limited and dated, within walking distance of SUNY Cortland. The offering is positioned for the federal and New York State historic rehabilitation tax credit programs for income-producing properties; the parcel sits in Census Tract 9707, which meets the State program's qualifying census tract test. Eligibility is subject to National Park Service and NY SHPO certification; seller makes no representation as to eligibility or credit value. Four parking spaces. Redevelopment pro-forma, rent roll, floor plans and income and expense detail available to qualified buyers. ## Location - **Address:** 38 Main Street, Cortland, NY 13045 - **County:** Cortland - **Neighborhood:** Mary Alice Lehrfeld - **Coordinates:** 42.599934, -76.180763 - **Google Maps:** https://www.google.com/maps?q=42.599934,-76.180763 ## Virtual Tour & Media - **Video Tour:** https://www.propertypanorama.com/instaview/syr/S1702946 ## Listing Agent - **Name:** Matt Mastrangelo · **License:** 10401342068 - **Brokerage:** Real Broker NY LLC - **Broker Phone:** (855) 450-0442 ## Photos ![38 Main Street - Photo 1](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f4276569278r.jpg) ![38 Main Street - Photo 2](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2302468698r.jpg) ![38 Main Street - Photo 3](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f72406492r.jpg) ![38 Main Street - Photo 4](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f76332214r.jpg) ![38 Main Street - Photo 5](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f154005665r.jpg) ![38 Main Street - Photo 6](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1186820089r.jpg) ![38 Main Street - Photo 7](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2003159981r.jpg) ![38 Main Street - Photo 8](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1409786487r.jpg) ![38 Main Street - Photo 9](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1937356550r.jpg) ![38 Main Street - Photo 10](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1614808683r.jpg) ![38 Main Street - Photo 11](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2886711203r.jpg) ![38 Main Street - Photo 12](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f197870551r.jpg) ![38 Main Street - Photo 13](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1880232529r.jpg) ![38 Main Street - Photo 14](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2007350934r.jpg) ![38 Main Street - Photo 15](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f4084709845r.jpg) ![38 Main Street - Photo 16](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f3704726510r.jpg) ![38 Main Street - Photo 17](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2381829203r.jpg) ![38 Main Street - Photo 18](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f999557239r.jpg) ![38 Main Street - Photo 19](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1013205225r.jpg) ![38 Main Street - Photo 20](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1488584939r.jpg) ![38 Main Street - Photo 21](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2517158358r.jpg) ![38 Main Street - Photo 22](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f3809593493r.jpg) ![38 Main Street - Photo 23](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f3148960632r.jpg) ![38 Main Street - Photo 24](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1634344019r.jpg) ![38 Main Street - Photo 25](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1123976420r.jpg) ![38 Main Street - Photo 26](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f3429330782r.jpg) ![38 Main Street - Photo 27](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2821469478r.jpg) ![38 Main Street - Photo 28](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f269493656r.jpg) ![38 Main Street - Photo 29](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2074462697r.jpg) ![38 Main Street - Photo 30](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f1866573747r.jpg) ![38 Main Street - Photo 31](http://lh.rdcpix.com/dbaba3a088a06273a12fb97f360aabc1l-f2674979290r.jpg) --- **MLS#:** S1702946 | **Updated:** 2026-10-22 **Source:** listhub *Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://staging.propertysimple.ai/listing/38-main-street-cortland-ny-13045-850343889caf4d998be1bb8c78fec2a4) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://staging.propertysimple.ai/listing/38-main-street-cortland-ny-13045-850343889caf4d998be1bb8c78fec2a4#listing", "url": "https://staging.propertysimple.ai/listing/38-main-street-cortland-ny-13045-850343889caf4d998be1bb8c78fec2a4", "name": "38 Main Street, Cortland, NY 13045", "description": "Historic mixed-use redevelopment on Main Street in downtown Cortland. 6,450 square feet across three stories in the CB Central Business district, built 1956, offered at $595,000 - roughly $92 per square foot and $99,167 per unit across six units. The building is 25 percent occupied today and produces $25,800 of rent and $18,060 of net operating income. Fully leased at market rents it supports close to $130,800 of gross potential rent, $124,300 of effective gross income after a 5 percent vacancy allowance, and close to $74,500 of net operating income - a 12.5 percent pro-forma cap rate at the asking price. The ground floor is leased and that tenancy can continue in place, or a buyer can reposition the space as a restaurant, bar or destination storefront. The upper floors convert into five one-bedroom, one-bath apartments, in a downtown submarket where one-bedroom inventory is limited and dated, within walking distance of SUNY Cortland. The offering is positioned for the federal and New York State historic rehabilitation tax credit programs for income-producing properties; the parcel sits in Census Tract 9707, which meets the State program's qualifying census tract test. 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