Net-Leased Family Dollar
1701 N Salina St Syracuse, NY 13208
New
For Sale
$1,876,387
Net-leased Family Dollar on a prominent retail corridor with ample parking and high-visibility signage.
Property Size8,320 SF
Price / SF$225.53
Days on Market5
Property Features for 1701 N Salina St
General Information
Standard status
Active
Size
8,320 SF
Property subtype
Discount
Listing Agency:
Marcus & Millichap - Miami
(786) 522-7009
Listed By:
Scott Sandelin · License #License(s): FL: SL636794
(786) 522-7009
Source:
Marcusmillichap
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 29 at 3:33AM
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 - Miami
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 For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.8k | $13.20 |
| − Vacancy | −$4.6k | −$0.55 |
| EGI | $105.2k | $12.65 |
| − OpEx | −$31.6k | −$3.79 |
| NOI | $73.6k | $8.85 |
8,320 SF · lease $13.20/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.05M
$920.6K – $1.23M
NOI $73,648 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,214 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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 $1,876,387.
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
