Storefront
New
For Sale
$1,500,000
3208 W Genesee St, Geddes, NY 13219
Storefront asset with documented walkability, bikeability, and transit accessibility scores.
Property Size8,800 SF
Days on Market3
Property Features for 3208 W Genesee St
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,900
Building Details
Building Size
8,800 SF
Year Built
2008
Stories
1
Units
4
Listing Agency:
(315) 802-1404
Listed By:
Gaetano Belmonte
(315) 802-1404
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 16 at 7:26AM
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 Gaetano Belmonte
Investment Insights
Based on property information with market context.
This storefront property was built in 2008 and is located at 3208 W Genesee St in Geddes, New York. The available property information identifies the asset as a storefront and provides transportation-oriented scoring for the surrounding area.
The location has a walk score of 43, categorized as Car-Dependent; a bike score of 13, categorized as Somewhat Bikeable; and a transit score of 32, categorized as Some Transit.
The location has a walk score of 43, categorized as Car-Dependent; a bike score of 13, categorized as Somewhat Bikeable; and a transit score of 32, categorized as Some Transit.
Key Highlights
- Storefront property built in 2008
- Located at 3208 W Genesee St, Geddes, NY 13219
- Walk score: 43, Car‑Dependent
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
$77,897
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
5.19%
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%
$1,557,940
$1.6M
Cap Rate 7%
$1,112,814
$1.1M
Cap Rate 9%
$865,522
$865.5K
Market Conditions
NOI Build-Up for 8,800 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
$116.2K $13.20/SF
− Vacancy
−$4.9K −$0.55/SF
EGI
$111.3K $12.65/SF
− OpEx
−$33.4K −$3.79/SF
NOI
$77.9K $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%
$1,557,940
Cap Rate 7%
$1,112,814
Cap Rate 9%
$865,522
Alternative Uses
Best Use
Retail
$1.11M
$973.7K – $1.30M
NOI $77,897 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,053 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
213
Businesses Nearby
247k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 31%
Shops & Services 18%
Beauty & Spa 2%
Wegmans
Groceries
77,196 visits/mo
0.2 miles
McDonald's
Dining
36,268 visits/mo
0.3 miles
Michaels
Shops & Services
30,200 visits/mo
0.4 miles
Panera Bread
Dining
20,276 visits/mo
0.4 miles
Burger King
Dining
17,648 visits/mo
0.3 miles
Demographics for 13219, NY
15,436
Population
6,551
Households
2.4
Avg Household Size
45
Median Age
43%
College-Educated
93%
High-School Grad
5.0 sq mi
ZIP Area
3,087
Density / Sq Mi
$81,414
Median Household Income
$52,298
Median Earnings
$1,039
Median Rent
$173,400
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?
Storefront property - Storefront asset with documented walkability, bikeability, and transit accessibility scores.
Where is this storefront property located?
The property is located at 3208 W Genesee St Geddes, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Storefront property built in 2008; Located at 3208 W Genesee St, Geddes, NY 13219; Walk score: 43, Car‑Dependent
