Mixed-Use Building with Bar
New
For Sale
Contact for pricing
107 E Seneca Street, Manlius, NY 13104
First-floor commercial space is paired with three occupied apartments and separate residential utilities.
Property Size3,341 SF
Price / SF$209.22
Days on Market6
Property Features for 107 E Seneca Street
General Information
Standard status
Active
Size
3,341 SF
Net Rentable
1,833 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Tenancy
Multi
Listing Agency:
Coldwell Banker Prime Properties Liverpool
Listed By:
Deborah Burr · License #NY
Source:
Crexi
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 1 at 10:00PM
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 Properties Liverpool
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,544
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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 4.51%
Second Best
Mixed Use
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$580.6K
$508.1K – $677.4K
NOI $40,644 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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 Street Manlius, NY.
What is the asking price?
The asking price for this property is $699,000.
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
