Historic Mixed-Use
118 E Genesee Street, Syracuse, NY 13202
For Sale
$1,200,000
Three-level property combines restaurant, live/work, and residential space.
Property Size6,240 SF
Days on Market54
Property Features for 118 E Genesee Street
General Information
Standard status
Size
Property subtype
Additional Details
Floor
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
Oak Tree Real Estate
Listed By:
Andrew Alpern
(315) 744-0831
Source:
Stacyfaunce.kw
Added: Sep 17
Changed: Nov 3
Last Checked: Nov 8 at 2:35AM
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 Oak Tree Real Estate
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Investment Insights
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Built in 1893 as the Bank of Syracuse, this Beaux-Arts property features a marble facade, monumental arched openings, and steel-frame construction attributed to architect Albert L. Brockway. The three-level layout brings together commercial, live/work, and residential components within a prominent historic building.
The ground floor houses Eden, a wood-fire restaurant with a custom buildout completed approximately seven years ago. A flexible live/work loft occupies the first level and was renovated approximately one year ago; movable partition walls allow the interior arrangement to be changed. The second level contains a residential loft with soaring ceilings and substantial architectural volume. That space was converted to residential use approximately 15-20 years ago, alongside major utility modernization.
The property is located at 118 E Genesee Street in Syracuse’s historic Hanover Square. Its former bank use and residential conversion were featured by The New York Times. Intended future uses should be confirmed with the appropriate municipality.
The ground floor houses Eden, a wood-fire restaurant with a custom buildout completed approximately seven years ago. A flexible live/work loft occupies the first level and was renovated approximately one year ago; movable partition walls allow the interior arrangement to be changed. The second level contains a residential loft with soaring ceilings and substantial architectural volume. That space was converted to residential use approximately 15-20 years ago, alongside major utility modernization.
The property is located at 118 E Genesee Street in Syracuse’s historic Hanover Square. Its former bank use and residential conversion were featured by The New York Times. Intended future uses should be confirmed with the appropriate municipality.
Key Highlights
- 1893 construction as the Bank of Syracuse
- Beaux‑Arts marble facade with monumental arched openings
- Ground‑floor Eden wood‑fire restaurant with custom buildout completed approximately seven years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,001
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,020
$1.2M
Cap Rate 7%
$885,729
$885.7K
Cap Rate 9%
$688,900
$688.9K
Market Conditions
NOI Build-Up for 6,240 SF
Gross rent
$86.1K $13.80/SF
− Vacancy
−$3.4K −$0.55/SF
EGI
$82.7K $13.25/SF
− OpEx
−$20.7K −$3.31/SF
NOI
$62.0K $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%
$1,240,020
Cap Rate 7%
$885,729
Cap Rate 9%
$688,900
Alternative Uses
Best Use
Specialty Retail
$885.7K
$775.0K – $1.03M
NOI $62,001 @ 7.0% cap · market cap 5.17%
Second Best
Office B
$857.4K
$750.3K – $1.00M
NOI $60,021 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$1.08M
$948.9K – $1.27M
NOI $75,910 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
6,478
Businesses Nearby
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Business Placement
Demographics for 13202, NY
6,967
Population
3,525
Households
2
Avg Household Size
30
Median Age
36%
College-Educated
78%
High-School Grad
1.0 sq mi
ZIP Area
6,967
Density / Sq Mi
$27,365
Median Household Income
$35,990
Median Earnings
$807
Median Rent
$79,300
Median Home Value
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Market
Properties on Market for Mixed-use properties in Syracuse
Vacancy Rate% for Office in Syracuse, NY
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-level property combines restaurant, live/work, and residential space.
Where is this mixed-use property located?
The property is located at 118 E Genesee Street Syracuse, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1893 construction as the Bank of Syracuse; Beaux‑Arts marble facade with monumental arched openings; Ground‑floor Eden wood‑fire restaurant with custom buildout completed approximately seven years ago
