Established Restaurant with
For Sale
$2,750,000
313 North Geddes Street, Syracuse, NY 13204
Fully equipped operation with staff in place, two kitchens, a full bar, and seasonal patio.
Property Size13,737 SF
Lot Size1.20 Acres
Price / SF$200.19
Days on Market194
Property Features for 313 North Geddes Street
General Information
Standard status
Active
Size
13,737 SF
Lot size
1.20 Acres
Property subtype
Restaurant
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Building Details
Building Size
13,737 SF
Buildings
2
Listing Agency:
Bridgeway Commercial Realty, LLC
(315) 254-2027
Listed By:
Tom Lischak, CCIM · License #10491204314
(315) 254-2027
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 1:19AM
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 Bridgeway Commercial Realty, LLC
Investment Insights
Based on property information with market context.
The property at 313 North Geddes Street includes a 10,719 SF restaurant and a separate 3,018 SF church building, totaling 13,737 SF across two buildings. The restaurant is being offered with equipment and staff in place, along with two kitchens, a full bar, an upstairs dining room, booths, a seasonal patio, and two apartments.
Six tax parcels comprise approximately 1.2 acres on a corner lot in Syracuse. The site includes a large customer parking lot and the church building occupies the south corner. The property combines an operating restaurant facility with additional building area and residential components within the same assemblage.
Six tax parcels comprise approximately 1.2 acres on a corner lot in Syracuse. The site includes a large customer parking lot and the church building occupies the south corner. The property combines an operating restaurant facility with additional building area and residential components within the same assemblage.
Key Highlights
- 10,719 SF established restaurant plus 3,018 SF church building
- 13,737 SF total across two buildings
- Approximately 1.2 acres across six tax parcels
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
$136,491
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
4.96%
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%
$2,729,820
$2.7M
Cap Rate 7%
$1,949,871
$1.9M
Cap Rate 9%
$1,516,567
$1.5M
Market Conditions
NOI Build-Up for 13,737 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
$189.6K $13.80/SF
− Vacancy
−$7.6K −$0.55/SF
EGI
$182.0K $13.25/SF
− OpEx
−$45.5K −$3.31/SF
NOI
$136.5K $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%
$2,729,820
Cap Rate 7%
$1,949,871
Cap Rate 9%
$1,516,567
Alternative Uses
Best Use
Specialty Retail
$1.95M
$1.71M – $2.27M
NOI $136,491 @ 7.0% cap · market cap 4.96%
Second Best
Mixed Use
$1.76M
$1.54M – $2.05M
NOI $123,221 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$2.39M
$2.09M – $2.79M
NOI $167,112 @ 7.0% cap · market cap 6.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Electronics 18%
Home Improvements & Furnishings 8%
Dollar General
Shops & Services
4,853 visits/mo
0.1 miles
Valero Energy
Shops & Services
3,271 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
2,076 visits/mo
0.1 miles
Rent A Center
Home Improvements & Furnishings
996 visits/mo
0.1 miles
Gerber Collision & Glass
Shops & Services
523 visits/mo
0.4 miles
Demographics for 13204, NY
19,752
Population
10,410
Households
1.9
Avg Household Size
31
Median Age
26%
College-Educated
84%
High-School Grad
4.3 sq mi
ZIP Area
4,593
Density / Sq Mi
$42,585
Median Household Income
$35,609
Median Earnings
$1,054
Median Rent
$97,400
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 - Fully equipped operation with staff in place, two kitchens, a full bar, and seasonal patio.
Where is this conventional restaurant located?
The property is located at 313 North Geddes Street Syracuse, NY.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10,719 SF established restaurant plus 3,018 SF church building; 13,737 SF total across two buildings; Approximately 1.2 acres across six tax parcels
