Listing Agency: Kirnan Real Estate Show Phone

Listed By: Yasser Saif Show Phone

Source: Nicholcityrealty

Added: Oct 12 Changed: Oct 13 Last Checked: Oct 13 at 2:33AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kirnan Real Estate

Investment Insights

Based on property information with market context.

This 1,705-square-foot corner property at 1001 Butternut Street includes an open sales and flex area, overhead lighting and durable flooring. Exterior signage and customer access are also part of the property. The space was previously used as a convenience store, and paved parking is available on site.

Key Highlights

• 1,705‑square‑foot corner property
• Open sales and flex area with overhead lighting
• Paved on‑site parking

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,941

Cap Rate

8.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,820 $338.8K

Cap Rate 7%

$242,014 $242.0K

Cap Rate 9%

$188,233 $188.2K

Market Conditions

NOI Build-Up for 1,705 SF

Gross rent

$23.5K $13.80/SF

− Vacancy

−$941 −$0.55/SF

EGI

$22.6K $13.25/SF

− OpEx

−$5.6K −$3.31/SF

NOI

$16.9K $9.94/SF

Area

Syracuse, NY

Vacancy

4.00%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$338,820

Cap Rate 7%

$242,014

Cap Rate 9%

$188,233

Alternative Uses

Best Use

Specialty Retail

$242.0K

$211.8K – $282.4K (±1% cap)

NOI $16,941 @ 7.0% cap · market cap 8.47%

Second Best

Retail

$215.6K

$188.7K – $251.6K (±1% cap)

NOI $15,093 @ 7.0% cap · market cap 7.55%

Theoretical Best

Office A

$296.3K

$259.3K – $345.7K (±1% cap)

NOI $20,742 @ 7.0% cap · market cap 10.38%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Zaza convenience, Mart Grocery & Convenience Store Zaza Convenience Market ... Grocery & Convenience Store U-Haul Neighborhood Dealer Car Rental Facility Bubble Basket (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Building Supply Garden Center (Bike/Boat/Book/etc) Store Parking Lot & Garage Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,587

Businesses Nearby

36k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 54% Shops & Services 21% Dining 21% Electronics 3%

Tops Friendly Markets Groceries

15,775 visits/mo 0.5 miles

Dollar General Shops & Services

7,527 visits/mo 0.3 miles

Burger King Dining

7,422 visits/mo 0.3 miles

Save-A-Lot Groceries

3,787 visits/mo 0.4 miles

Cricket Wireless Authorized Retailer Electronics

772 visits/mo 0.5 miles

Demographics for 13208, NY

23,603

Population

10,325

Households

2.3

Avg Household Size

33

Median Age

19%

College-Educated

77%

High-School Grad

4.1 sq mi

ZIP Area

5,757

Density / Sq Mi

$40,641

Median Household Income

$35,015

Median Earnings

$999

Median Rent

$110,300

Median Home Value

Market

Vacancy Rate% for Retail in Syracuse, NY

6.2% 2021

5.9% 2022

6.5% 2023

4.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - An open sales and flex area is supported by overhead lighting, durable floors and paved on-site parking.

Where is this grocery and convenience store located?

The property is located at 1001 Butternut Street Syracuse, NY.

What is the asking price?

The asking price for this property is $199,900.

What are key features of this property?

This property features: 1,705‑square‑foot corner property; Open sales and flex area with overhead lighting; Paved on‑site parking