Full-Service
New
For Sale
$200,000
801 S Geddes St, Syracuse, NY 13204
The vacant premises retain restaurant contents, including an inspected, working Ansul fire-suppression system.
Property Size1,500 SF
Days on Market3
Property Features for 801 S Geddes St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,770
Building Details
Building Size
1,500 SF
Year Built
1965
Stories
1
Listed By:
Kristen Bertrand
(315) 430-0575
Source:
Elliman
Added: Sep 30
Last Checked: Oct 1 at 11:39AM
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 Kristen Bertrand
Investment Insights
Based on property information with market context.
Built in 1965, this vacant restaurant property retains restaurant equipment and other contents. The working Ansul fire-suppression system has been inspected. Contents, including equipment, may be negotiated as part of a purchase.
The property is near the Syracuse Developmental Center redevelopment. Its former restaurant use and retained contents are the primary physical details available for consideration.
The property is near the Syracuse Developmental Center redevelopment. Its former restaurant use and retained contents are the primary physical details available for consideration.
Key Highlights
- Restaurant equipment and contents remain on site and may be negotiated
- Working Ansul fire‑suppression system has been inspected
- Year built: 1965
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
$14,904
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
7.45%
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%
$298,080
$298.1K
Cap Rate 7%
$212,914
$212.9K
Cap Rate 9%
$165,600
$165.6K
Market Conditions
NOI Build-Up for 1,500 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
$20.7K $13.80/SF
− Vacancy
−$828 −$0.55/SF
EGI
$19.9K $13.25/SF
− OpEx
−$5.0K −$3.31/SF
NOI
$14.9K $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%
$298,080
Cap Rate 7%
$212,914
Cap Rate 9%
$165,600
Alternative Uses
Best Use
Specialty Retail
$212.9K
$186.3K – $248.4K
NOI $14,904 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$260.7K
$228.1K – $304.1K
NOI $18,248 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Electronics 19%
Home Improvements & Furnishings 9%
Dollar General
Shops & Services
4,853 visits/mo
0.4 miles
Valero Energy
Shops & Services
3,271 visits/mo
0.1 miles
Metro by T-Mobile
Electronics
2,076 visits/mo
0.4 miles
Rent A Center
Home Improvements & Furnishings
996 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - The vacant premises retain restaurant contents, including an inspected, working Ansul fire-suppression system.
Where is this conventional restaurant located?
The property is located at 801 S Geddes St Syracuse, NY.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Restaurant equipment and contents remain on site and may be negotiated; Working Ansul fire‑suppression system has been inspected; Year built: 1965
