Mixed-Use Flex and Residential
744 Park Ave Syracuse, NY 13204
New
744 Park Ave, Syracuse, NY, 13204
$399,900
For Sale
$399,900
Fully leased mixed-use building with first-floor warehouse/flex and showroom space plus two renovated apartments above.
Property Size6,000 SF
Price / SF$66.65
Days on Market3
Property Features for 744 Park Ave
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1950
Listing agency
(315) 396-0493
Listed by
Christopher Newman
(315) 396-0493
Source
Elliman
Added: Jul 20 Updated: Jul 21 at 4:46PM Checked: Jul 21 at 4:46PM
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 Christopher Newman
Investment Insights
Based on property information with market context.
This fully leased mixed-use property offers approximately 6,000 square feet of combined commercial and residential space. The first floor includes an open warehouse/flex area with an overhead door/loading dock, a showroom/retail area, offices, a kitchenette, and restroom facilities. The second floor features two newly renovated 2-bedroom apartments built out from the studs.
All units are separately metered, and the property has new 200 Amp electrical service. Recent upgrades in the last few years include new furnaces, water heaters, a metal roof, exterior painting, and new plumbing and electrical, among other improvements.
Current income is stated at $52,800 per year, presenting a turnkey, owner-operator or investor opportunity at 744 Park Ave in Syracuse, New York.
All units are separately metered, and the property has new 200 Amp electrical service. Recent upgrades in the last few years include new furnaces, water heaters, a metal roof, exterior painting, and new plumbing and electrical, among other improvements.
Current income is stated at $52,800 per year, presenting a turnkey, owner-operator or investor opportunity at 744 Park Ave in Syracuse, New York.
Key Highlights
- Fully leased ~6,000 SF mixed‑use property generating $52,800/year
- First floor includes open warehouse/flex with overhead door/loading dock, showroom/retail, offices, kitchenette, and restrooms
- Second floor features two newly renovated 2‑bedroom apartments built out from the studs
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.0k | $6.84 |
| − Vacancy | −$2.8k | −$0.47 |
| EGI | $38.2k | $6.37 |
| − OpEx | −$11.5k | −$1.91 |
| NOI | $26.7k | $4.46 |
6,000 SF · lease $6.84/SF/yr · vacancy 6.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$912.0K
$798.0K – $1.06M
NOI $63,842 @ 7.0% cap · market cap 15.96%
Second Best
Office B
$824.5K
$721.4K – $961.9K
NOI $57,713 @ 7.0% cap · market cap 14.43%
Theoretical Best
Office A
$1.04M
$912.4K – $1.22M
NOI $72,991 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- CONGO BOX — 629 W Fayette St, Syracuse, NY 13203
FAQs
What type of property is this?
Flex space - Fully leased mixed-use building with first-floor warehouse/flex and showroom space plus two renovated apartments above.
Where is this flex space located?
The property is located at 744 Park Ave Syracuse, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Fully leased ~6,000 SF mixed‑use property generating $52,800/year; First floor includes open warehouse/flex with overhead door/loading dock, showroom/retail, offices, kitchenette, and restrooms; Second floor features two newly renovated 2‑bedroom apartments built out from the studs
