Net-Leased Family Dollar
For Sale
$1,675,345
1701 N Salina St, Syracuse, NY 13208
Net-leased Family Dollar on a prominent retail corridor with ample parking and high-visibility signage.
Property Size8,320 SF
Price / SF$201.36
Days on Market96
Property Features for 1701 N Salina St
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Discount
Lease Type
NN
Amenities
Corporate Guarantee: 7,100+ Total Stores – 2025 Revenue of $13+ Billion With $495m EBITDA
Early Renewal-Strong Commitment: Recent Extension – 6+ Years Remaining on Primary Lease Term w/Increases Every Option Term
Adjacent to Destiny USA: Super Regional Shopping, Dining & Entertainment Hub – Largest Shopping Mall in NY – 10th Largest Nationwide
Excellent Visibility & Access: Frontage on N Salina St & Right Off Hiawatha Blvd & I-81 – Combined Traffic Counts of 108,000+ VPD
Densely Populated Area: 55,000+ People Within a 2 MI Radius
Qualifies For Bonus Depreciation: Contact Listing Agent For Estimate of Savings
Strong Residual Value: Infill Location – Sits In Area's Primary Retail Corridor
High Performing Location: $2.3 Million in Sales 2025 – Ranked in Top 18% Family Dollar Stores Nationwide on Placer AI
Building Details
Building Size
8,320 SF
Listing Agency:
Marcus & Millichap
Listed By:
Scott Sandelin · License #License(s): FL: SL636794
(786) 522-7009
Source:
Marcusmillichap
Added: Jul 25
Changed: Oct 26
Last Checked: Oct 26 at 12:48PM
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 Marcus & Millichap
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Marcus & Millichap presents a net-leased Family Dollar retail property located at 1701 N Salina Street in Syracuse, New York. The offering is a Family Dollar building with a net lease structure in place, featuring approximately 6+ years remaining in the current term along with two five-year renewal options.
The property includes an 8,320 SF building on a 0.98-acre parcel and was constructed in 2013. It is positioned for visibility and customer access along N Salina Street, with ample parking and high-visibility signage supporting retail operations.
The tenant has operated at this location since 2013. The lease provides for contractual rental increases of 21% on the first renewal option and 10% on the second renewal option term.
The property includes an 8,320 SF building on a 0.98-acre parcel and was constructed in 2013. It is positioned for visibility and customer access along N Salina Street, with ample parking and high-visibility signage supporting retail operations.
The tenant has operated at this location since 2013. The lease provides for contractual rental increases of 21% on the first renewal option and 10% on the second renewal option term.
Key Highlights
- Net‑leased Family Dollar at 1701 N Salina Street, Syracuse, with ~6+ years remaining and (2) five‑year renewal options
- Lease includes rental increases: 21% on the 1st option term and 10% on the 2nd option term
- 8,320 SF Family Dollar building on a 0.98‑acre (42,688 SF) parcel; constructed in 2013
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,648
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,472,960
$1.5M
Cap Rate 7%
$1,052,114
$1.1M
Cap Rate 9%
$818,311
$818.3K
Market Conditions
NOI Build-Up for 8,320 SF
Gross rent
$109.8K $13.20/SF
− Vacancy
−$4.6K −$0.55/SF
EGI
$105.2K $12.65/SF
− OpEx
−$31.6K −$3.79/SF
NOI
$73.6K $8.85/SF
Area
Syracuse, NY
Vacancy
4.20%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,472,960
Cap Rate 7%
$1,052,114
Cap Rate 9%
$818,311
Alternative Uses
Best Use
Retail
$1.05M
$920.6K – $1.23M
NOI $73,648 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,214 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,052
Businesses Nearby
139k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 60%
Dining 21%
Hotels & Casinos 12%
Shops & Services 8%
Macy's
Apparel
82,674 visits/mo
0.3 miles
Wendy's
Dining
17,705 visits/mo
0.3 miles
Embassy Suites by Hilton Syracuse Destiny
Hotels & Casinos
16,495 visits/mo
0.1 miles
Dunkin' Donuts
Dining
11,095 visits/mo
0.3 miles
Family Dollar
Shops & Services
8,880 visits/mo
0.1 miles
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
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
Frequently Asked Questions
What type of property is this?
Retail space - Net-leased Family Dollar on a prominent retail corridor with ample parking and high-visibility signage.
Where is this retail space located?
The property is located at 1701 N Salina St Syracuse, NY.
What is the asking price?
The asking price for this property is $1,675,345.
What are key features of this property?
This property features: Net‑leased Family Dollar at 1701 N Salina Street, Syracuse, with ~6+ years remaining and (2) five‑year renewal options; Lease includes rental increases: 21% on the 1st option term and 10% on the 2nd option term; 8,320 SF Family Dollar building on a 0.98‑acre (42,688 SF) parcel; constructed in 2013
