Restaurant with
For Sale
$550,000
1370 Burnet Ave, Syracuse, NY 13206
Established restaurant facility with multiple dining areas, commercial kitchens, event space, and a separate tavern entrance.
Property Size6,936 SF
Price / SF$79.30
Days on Market150
Property Features for 1370 Burnet Ave
General Information
Standard status
Active
Size
6,936 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Business Included
Yes
Highway Access
Yes
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$12,500
Building Details
Building Size
6,936 SF
Year Built
1960
Listing Agency:
Coldwell Banker Prime Prop,Inc
Listed By:
Robert J. Habberfield · License #30HA0471083
(315) 415-2245
Source:
Griffith-realty
Added: May 18
Changed: Oct 9
Last Checked: Oct 13 at 2:13AM
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 Coldwell Banker Prime Prop,Inc
Investment Insights
Based on property information with market context.
The 6,936-square-foot restaurant includes multiple dining rooms, a lounge with booth seating, a tavern with a U-shaped bar, and a separate entrance from the parking lot. A large event room features a centered four-sided gas-fired brick fireplace and French-door access from the front dining areas. The property is being offered with its equipment and furnishings, including a dessert case, pizza oven, walk-in refrigeration, and kitchen preparation areas.
Kitchen facilities include two extended cooking lines, a preparation line serving the dining and tavern areas, and a lower-level cooking and preparation area. The lower level also contains office space, an employee break room, a baking area, and additional walk-in coolers. The site provides 50 parking spaces and is positioned between Midler and Teall Avenue, near the 690 entrance and exit ramp with connections to Routes 81, 481, and 90 and the New York State Thruway. The building dates to 1960.
Kitchen facilities include two extended cooking lines, a preparation line serving the dining and tavern areas, and a lower-level cooking and preparation area. The lower level also contains office space, an employee break room, a baking area, and additional walk-in coolers. The site provides 50 parking spaces and is positioned between Midler and Teall Avenue, near the 690 entrance and exit ramp with connections to Routes 81, 481, and 90 and the New York State Thruway. The building dates to 1960.
Key Highlights
- 6,936‑square‑foot restaurant building with dining, lounge, tavern, kitchen, and event areas
- Tavern includes a U‑shaped wood‑topped bar with 15 stools and a separate parking‑lot entrance
- Large event room accommodates approximately 80 seats and features a four‑sided gas‑fired brick fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,918
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,360
$618.4K
Cap Rate 7%
$441,686
$441.7K
Cap Rate 9%
$343,533
$343.5K
Market Conditions
NOI Build-Up for 6,936 SF
Gross rent
$47.4K $6.84/SF
− Vacancy
−$3.3K −$0.47/SF
EGI
$44.2K $6.37/SF
− OpEx
−$13.3K −$1.91/SF
NOI
$30.9K $4.46/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,360
Cap Rate 7%
$441,686
Cap Rate 9%
$343,533
Alternative Uses
Best Use
Specialty Retail
$984.5K
$861.5K – $1.15M
NOI $68,916 @ 7.0% cap · market cap 12.53%
Second Best
Industrial
$441.7K
$386.5K – $515.3K
NOI $30,918 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.21M
$1.05M – $1.41M
NOI $84,377 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 54%
Shops & Services 28%
Dining 19%
Price Rite
Groceries
23,119 visits/mo
0.4 miles
Aldi
Groceries
19,895 visits/mo
0.3 miles
Burger King
Dining
12,908 visits/mo
0.5 miles
Sunoco
Shops & Services
8,600 visits/mo
0.4 miles
Family Dollar
Shops & Services
6,513 visits/mo
0.2 miles
Demographics for 13206, NY
16,599
Population
8,460
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,049
Density / Sq Mi
$60,314
Median Household Income
$40,429
Median Earnings
$952
Median Rent
$130,300
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 - Established restaurant facility with multiple dining areas, commercial kitchens, event space, and a separate tavern entrance.
Where is this conventional restaurant located?
The property is located at 1370 Burnet Ave Syracuse, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 6,936‑square‑foot restaurant building with dining, lounge, tavern, kitchen, and event areas; Tavern includes a U‑shaped wood‑topped bar with 15 stools and a separate parking‑lot entrance; Large event room accommodates approximately 80 seats and features a four‑sided gas‑fired brick fireplace
