Retail Space For
For Sale
Contact for pricing
3130 Erie Blvd E, Dewitt, NY 13214
Retail space available, offering 18,961 square feet.
Property Size18,961 SF
Price / SF$139.76
Days on Market175
Property Features for 3130 Erie Blvd E
General Information
Standard status
Active
Size
18,961 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$205,586
Building Details
Year Built
1970
Tenancy
Single
Listing Agency:
SURMOUNT
(332) 345-4222
Listed By:
Eddie DeMatteis · License #10401375705
Source:
Crexi
Added: Feb 18
Changed: Aug 7
Last Checked: Aug 12 at 12:52PM
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 SURMOUNT
Investment Insights
Based on property information with market context.
This retail space offers 18,961 square feet. The property is being offered for sale as a commercial real estate opportunity.
Key Highlights
- 6.25% CAP Rate
- Retail Property
- Substantial 18,961 SqFt
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
$167,841
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
6.33%
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%
$3,356,820
$3.4M
Cap Rate 7%
$2,397,729
$2.4M
Cap Rate 9%
$1,864,900
$1.9M
Market Conditions
NOI Build-Up for 18,961 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
$250.3K $13.20/SF
− Vacancy
−$10.5K −$0.55/SF
EGI
$239.8K $12.65/SF
− OpEx
−$71.9K −$3.79/SF
NOI
$167.8K $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 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%
$3,356,820
Cap Rate 7%
$2,397,729
Cap Rate 9%
$1,864,900
Alternative Uses
Best Use
Retail
$2.40M
$2.10M – $2.80M
NOI $167,841 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.30M
$2.88M – $3.84M
NOI $230,663 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
222k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 35%
Apparel 7%
Home Improvements & Furnishings 4%
Dollar Tree
Shops & Services
28,344 visits/mo
0.0 miles
McDonald's
Dining
22,079 visits/mo
0.4 miles
Texas Roadhouse
Dining
21,922 visits/mo
0.1 miles
Ollie's Bargain Outlet
Shops & Services
17,120 visits/mo
0.1 miles
Olive Garden
Dining
16,755 visits/mo
0.2 miles
Demographics for 13214, NY
9,072
Population
3,417
Households
2.7
Avg Household Size
35
Median Age
52%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
2,592
Density / Sq Mi
$93,200
Median Household Income
$34,909
Median Earnings
$998
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space available, offering 18,961 square feet.
Where is this retail space located?
The property is located at 3130 Erie Blvd E Dewitt, NY.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 6.25% CAP Rate; Retail Property; Substantial 18,961 SqFt
