Turnkey Bakery with Walk-In
For Sale
$600,000
505 Main Street North, Syracuse, NY 13212
Bakery space with walk-in cooler and freezer, onsite grease trap, and a history of ongoing operations in a highly visible retail setting.
Property Size2,700 SF
Price / SF$222.22
Days on Market55
Property Features for 505 Main Street North
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Retail
Additional Details
Business Included
Yes
Grease Trap
Yes
Listing Agency:
Syracuse Office
(315) 445-8520
Listed By:
Elaina Pirro
(315) 445-8520
Source:
Pyramidbrokerage
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 8 at 2:42AM
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 Syracuse Office
Investment Insights
Based on property information with market context.
This property operates as a turnkey bakery option and can come equipped, with equipment available to be negotiated as part of the sale. The space includes a large retail area plus dedicated walk-in storage: a walk-in cooler and a walk-in freezer, each sized 8' x 16'. The walk-in freezer was updated in 2025. An onsite grease trap supports food preparation needs, and the roof and exterior building were addressed approximately 7 years ago.
Located at 505 Main Street North in Syracuse, NY, the bakery is positioned in a highly visible retail location on Route 11 and has supported operations for more than 20 years. The immediate area includes a concentration of major retailers, with nearby examples cited in the listing such as Lowe’s, Harbor Freight, Home Depot, McDonald’s, Taco Bell, Panera, KFC, Starbucks, Chick-fil-A, and others.
For buyers seeking a food-focused, retail-front bakery setup, the existing kitchen-adjacent infrastructure and included cold storage can reduce start-up work. With equipment availability tied to the sale and key building components addressed within the last decade, the property may fit an operator looking for an established bakery footprint in a heavily trafficked corridor serving major retail destinations.
Located at 505 Main Street North in Syracuse, NY, the bakery is positioned in a highly visible retail location on Route 11 and has supported operations for more than 20 years. The immediate area includes a concentration of major retailers, with nearby examples cited in the listing such as Lowe’s, Harbor Freight, Home Depot, McDonald’s, Taco Bell, Panera, KFC, Starbucks, Chick-fil-A, and others.
For buyers seeking a food-focused, retail-front bakery setup, the existing kitchen-adjacent infrastructure and included cold storage can reduce start-up work. With equipment availability tied to the sale and key building components addressed within the last decade, the property may fit an operator looking for an established bakery footprint in a heavily trafficked corridor serving major retail destinations.
Key Highlights
- Bakery with a 20+ year operating history on Route 11 in North Syracuse
- Large retail area plus walk‑in cooler and walk‑in freezer (both 8' x 16')
- Freezer updated in 2025
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
$26,827
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
4.47%
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%
$536,540
$536.5K
Cap Rate 7%
$383,243
$383.2K
Cap Rate 9%
$298,078
$298.1K
Market Conditions
NOI Build-Up for 2,700 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
$37.3K $13.80/SF
− Vacancy
−$1.5K −$0.55/SF
EGI
$35.8K $13.25/SF
− OpEx
−$8.9K −$3.31/SF
NOI
$26.8K $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 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%
$536,540
Cap Rate 7%
$383,243
Cap Rate 9%
$298,078
Alternative Uses
Best Use
Specialty Retail
$383.2K
$335.3K – $447.1K
NOI $26,827 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$469.2K
$410.6K – $547.4K
NOI $32,846 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
76k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 34%
Home Improvements & Furnishings 20%
Beauty & Spa 4%
Harbor Freight Tools
Home Improvements & Furnishings
13,155 visits/mo
0.2 miles
Dunkin' Donuts
Dining
11,866 visits/mo
0.3 miles
Gulf Oil
Shops & Services
9,707 visits/mo
0.5 miles
Dollar General
Shops & Services
8,153 visits/mo
0.2 miles
7-Eleven
Shops & Services
6,675 visits/mo
0.4 miles
Demographics for 13212, NY
20,220
Population
9,213
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
1,822
Density / Sq Mi
$74,931
Median Household Income
$45,740
Median Earnings
$1,027
Median Rent
$157,400
Median Home Value
Market
Vacancy Rate% for Retail in Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Bakery space with walk-in cooler and freezer, onsite grease trap, and a history of ongoing operations in a highly visible retail setting.
Where is this conventional restaurant located?
The property is located at 505 Main Street North Syracuse, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Bakery with a 20+ year operating history on Route 11 in North Syracuse; Large retail area plus walk‑in cooler and walk‑in freezer (both 8' x 16'); Freezer updated in 2025
