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    1918 South Ave, Unit 22 Syracuse, NY 13207

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    For Sale
    $345,000

    Mixed-use property with income from billboards and tenant leases.

    Lot size:
    0.10 Acres

    Property Features for 1918 South Ave

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1940

    Source: Hunt Real Estate ERA Agent Dante Belmonte

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mixed-Use Building with Billboard Income

    This mixed-use building is located on a busy street corner and includes leased billboards. The billboards are currently leased to Lamar for $2,000 per year. The property features a barber shop, an additional commercial unit, and two apartments. The barber shop's lease expires in April 2026 and they pay $950 per month. The other commercial unit pays $670 per month. Both apartments are 2-bedroom units, with rents of $800 and $915 per month respectively. All tenants are currently on month-to-month leases, except for the barber shop. Each unit is separately metered for gas and electric and has its own furnace and hot water heater. The roof is approximately 4 years old. The entire parking lot behind the building is included in the purchase. There is potential to increase rental income by bringing tenants to market rates of $1,000+ per commercial units and $1,100+ per apartment units, as well as renegotiating the billboard lease with Lamar to $3,600+ per year.
    Location Intelligence

    Current Use by Public Records

    Nina Rose Dance ... Dance Company

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1611605
    Latitude
    43.0188526

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with income from billboards and tenant leases.
    Where is this mixed-use property located?
    The property is located at 1918 South Ave, Unit 22 Syracuse, NY.
    What is the asking price?
    The asking price for this property is $345,000.
    What are key features of this property?
    This property features: - Income-generating property with existing leases, including billboard revenue from Lamar.; - High potential for increased rental income by raising rents to market rates and renegotiating the billboard lease.; - Includes entire parking lot behind the building.
    (315) 446-4681
    Request Owner's contact information
    1918 South Ave, Unit 22 Syracuse, NY 13207
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    Syracuse, NY 13207
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1918 South Ave, Unit 22 Syracuse, NY 13207
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