Mixed-Use Building with Bar
For Sale
$499,900
107 E Seneca St, Manlius, NY 13104
First-floor commercial space is paired with three occupied apartments and separate residential utilities.
Property Size3,341 SF
Price / SF$149.63
Days on Market49
Property Features for 107 E Seneca St
General Information
Standard status
Active
Size
3,341 SF
Net Rentable
1,833 SF
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Prop,Inc
Listed By:
Deborah Burr
(315) 857-7166
Source:
Rooftoprealtygroup
Added: Sep 1
Changed: Oct 6
Last Checked: Oct 7 at 3:17PM
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 Coldwell Banker Prime Prop,Inc
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Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor tavern with three occupied apartments. The tavern contains approximately 1,508 square feet, while the apartments total approximately 1,833 square feet, for 3,341 square feet overall. The commercial layout can support continued bar use or another business or commercial concept. Bar equipment conveys in as-is condition, and the exterior side wall features a large mural.
Each apartment has electric heat and separate utilities. Recent property updates include a roof approximately 2 years old and a first-floor furnace approximately 4 years old. The current bar tenancy is an arrangement with the owner's son rather than an arm's-length lease. The commercial tenant currently pays the building's water bill and dumpster removal.
Each apartment has electric heat and separate utilities. Recent property updates include a roof approximately 2 years old and a first-floor furnace approximately 4 years old. The current bar tenancy is an arrangement with the owner's son rather than an arm's-length lease. The commercial tenant currently pays the building's water bill and dumpster removal.
Key Highlights
- 3,341 total square feet, including a 1,508‑square‑foot tavern and 1,833 square feet of apartments
- Three occupied apartments with electric heat and separate utilities
- First‑floor commercial space may continue as a bar or accommodate another business use
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,544
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,880
$630.9K
Cap Rate 7%
$450,629
$450.6K
Cap Rate 9%
$350,489
$350.5K
Market Conditions
NOI Build-Up for 3,341 SF
Gross rent
$61.3K $18.36/SF
− Vacancy
−$4.0K −$1.19/SF
EGI
$57.4K $17.17/SF
− OpEx
−$25.8K −$7.72/SF
NOI
$31.5K $9.44/SF
Area
Onondaga County, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$630,880
Cap Rate 7%
$450,629
Cap Rate 9%
$350,489
Alternative Uses
Best Use
Apartment 5plus
$450.6K
$394.3K – $525.7K
NOI $31,544 @ 7.0% cap · market cap 6.31%
Second Best
Mixed Use
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$580.6K
$508.1K – $677.4K
NOI $40,644 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 13104, NY
16,430
Population
6,575
Households
2.5
Avg Household Size
43
Median Age
62%
College-Educated
96%
High-School Grad
47.7 sq mi
ZIP Area
344
Density / Sq Mi
$123,770
Median Household Income
$64,207
Median Earnings
$1,074
Median Rent
$296,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor commercial space is paired with three occupied apartments and separate residential utilities.
Where is this mixed-use property located?
The property is located at 107 E Seneca St Manlius, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,341 total square feet, including a 1,508‑square‑foot tavern and 1,833 square feet of apartments; Three occupied apartments with electric heat and separate utilities; First‑floor commercial space may continue as a bar or accommodate another business use
