Building Details

Building Size 2,068 SF

Buildings 1

Listing Agency: Syracuse Office

Listed By: David M. Carnie, CCIM Show Phone

Source: Pyramidbrokerage

Added: Oct 16 Last Checked: Oct 16 at 2:04PM

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Investment Insights

Based on property information with market context.

This freestanding restaurant property includes a 2,068 SF building with a broad, open interior. The site consists of two parcels totaling 0.66 acres, with 174 feet of frontage on New Court Avenue. A paved parking area accommodates 25 cars, and a roadside pylon sign is also in place.

New Court Avenue is described as an east-west commercial and industrial corridor. The adjoining parcel offers room for parking expansion.

Key Highlights

• 2,068 SF freestanding restaurant building
• Two‑parcel property totaling 0.66 acres
• 174 feet of frontage on New Court Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,548

Cap Rate

4.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,960 $411.0K

Cap Rate 7%

$293,543 $293.5K

Cap Rate 9%

$228,311 $228.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,068 SF

Gross rent

$28.5K $13.80/SF

− Vacancy

−$1.1K −$0.55/SF

EGI

$27.4K $13.25/SF

− OpEx

−$6.8K −$3.31/SF

NOI

$20.5K $9.94/SF

Area

Syracuse, NY

Vacancy

4.00%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$410,960

Cap Rate 7%

$293,543

Cap Rate 9%

$228,311

Alternative Uses

Best Use

Specialty Retail

$293.5K

$256.9K – $342.5K (±1% cap)

NOI $20,548 @ 7.0% cap · market cap 4.15%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$359.4K

$314.5K – $419.3K (±1% cap)

NOI $25,157 @ 7.0% cap · market cap 5.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

The Pizza Cutters Restaurant

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Law Firm Storage Facility Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

717

Businesses Nearby

22k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 81% Dining 13% Home Improvements & Furnishings 6%

Speedway Shops & Services

11,604 visits/mo 0.5 miles

Dollar General Shops & Services

4,839 visits/mo 0.1 miles

Domino's Pizza Dining

2,887 visits/mo 0.4 miles

Best Tile Home Improvements & Furnishings

1,204 visits/mo 0.5 miles

Interstate Batteries Shops & Services

969 visits/mo 0.5 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

Market

Vacancy Rate% for Retail in Syracuse, NY

6.2% 2021

5.9% 2022

6.5% 2023

4.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - An open interior, roadside pylon sign, and paved parking serve a site on a commercial-industrial corridor.

Where is this conventional restaurant located?

The property is located at 3712 New Court Avenue Syracuse, NY.

What is the asking price?

The asking price for this property is $495,000.

What are key features of this property?

This property features: 2,068 SF freestanding restaurant building; Two‑parcel property totaling 0.66 acres; 174 feet of frontage on New Court Avenue