Mixed-Use Retail with Residential
For Sale
$549,900
135 MANLIUS ST, East Syracuse, NY 13057
Storefront space on the first floor with three fully rented apartments above, plus a full basement and private parking.
Property Size6,083 SF
Price / SF$90.40
Days on Market267
Property Features for 135 MANLIUS ST
General Information
Standard status
Active
Size
6,083 SF
Property subtype
Mixed Use
Zoning
mixed-use
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,410
Amenities
Gas
Full
3
Hardwood, Tile
Brick Wall
Shared Driveway, Gravel.
Brick, Vinyl
Rectangular
43X150
Rectangular.
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
eXp Realty
(888) 276-0630
Listed By:
Esmir Omerovic
(888) 276-0630
Source:
Xome
Added: Nov 15, 2025
Changed: Aug 8
Last Checked: Aug 8 at 3:27AM
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 eXp Realty
Investment Insights
Based on property information with market context.
135 W. Manlius St. in East Syracuse, NY is a mixed-use property offering a retail storefront on the first floor and three fully rented apartments upstairs. The building also includes a full basement suitable for storage or inventory needs.
The property features a private parking lot and a spacious backyard that could support outdoor seating or other events. The site is designated under mixed-use zoning, aligning with the existing combination of commercial and residential space.
Downstairs, the storefront provides a flexible space for a variety of concepts, while the upstairs units are currently rented, creating a built-in income component within a single, multi-level structure.
The property features a private parking lot and a spacious backyard that could support outdoor seating or other events. The site is designated under mixed-use zoning, aligning with the existing combination of commercial and residential space.
Downstairs, the storefront provides a flexible space for a variety of concepts, while the upstairs units are currently rented, creating a built-in income component within a single, multi-level structure.
Key Highlights
- Mixed‑use building with a first‑floor storefront plus three fully rented apartments upstairs
- Full basement for storage (interior includes 3 basement levels listed)
- Brick and vinyl exterior with brick wall fencing and rectangular lot dimensions (43 x 150)
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
$18,881
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
3.43%
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%
$377,620
$377.6K
Cap Rate 7%
$269,729
$269.7K
Cap Rate 9%
$209,789
$209.8K
Market Conditions
NOI Build-Up for 6,083 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
$26.3K $4.32/SF
− Vacancy
−$1.1K −$0.18/SF
EGI
$25.2K $4.14/SF
− OpEx
−$6.3K −$1.03/SF
NOI
$18.9K $3.10/SF
Area
Onondaga County, NY
Vacancy
4.20%
Lease Rate
$4.32 /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%
$377,620
Cap Rate 7%
$269,729
Cap Rate 9%
$209,789
Alternative Uses
Best Use
Retail
$1.05M
$917.8K – $1.22M
NOI $73,427 @ 7.0% cap · market cap 13.35%
Second Best
Multifamily LT 5
$924.6K
$809.1K – $1.08M
NOI $64,725 @ 7.0% cap · market cap 11.77%
Theoretical Best
Office A
$1.06M
$925.0K – $1.23M
NOI $74,000 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
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?
Triplex - Storefront space on the first floor with three fully rented apartments above, plus a full basement and private parking.
Where is this triplex located?
The property is located at 135 MANLIUS ST East Syracuse, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Mixed‑use building with a first‑floor storefront plus three fully rented apartments upstairs; Full basement for storage (interior includes 3 basement levels listed); Brick and vinyl exterior with brick wall fencing and rectangular lot dimensions (43 x 150)
