Mixed-Use Income Property with
406 Kirkpatrick St Syracuse, NY 13208
For Sale
$450,000
Mixed-use building featuring a commissary kitchen with equipment, studio and five-bedroom apartment units, plus heated garage/storage and parking.
Property Size4,800 SF
Price / SF$93.75
Days on Market57
Property Features for 406 Kirkpatrick St
General Information
- Standard status
- Active
- Size
- 4,800 SF
Listing Agency:
Coldwell Banker Prime Prop, Inc
(315) 622-0161
Listed By:
Ryan Millard
(315) 622-0161
Source:
Exprealty
Added: May 29
Changed: Jul 23
Last Checked: Jul 23 at 5:28PM
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 Coldwell Banker Prime Prop, Inc
Investment Insights
Based on property information with market context.
This mixed-use income property includes a commissary kitchen equipped for commercial food preparation, with useful appliances, freezer space, and a full shower for cleanup. The building also offers a first-floor studio apartment with a kitchenette and a full shower, along with a five-bedroom apartment upstairs featuring a laundry room and a large living area.
In addition to the interior spaces, the property includes a massive heated garage/storage area suitable for working on vehicles and separate storage needs. An outdoor parking lot provides space for at least nine cars. The property is described as centrally located near hospitals, downtown, a stadium, and the inner harbor.
The listing notes that key mechanical items are recently addressed, including a new water heater and fully serviced furnaces. The building is currently operating with long-term Airbnb guests in both the studio and the five-bedroom unit.
In addition to the interior spaces, the property includes a massive heated garage/storage area suitable for working on vehicles and separate storage needs. An outdoor parking lot provides space for at least nine cars. The property is described as centrally located near hospitals, downtown, a stadium, and the inner harbor.
The listing notes that key mechanical items are recently addressed, including a new water heater and fully serviced furnaces. The building is currently operating with long-term Airbnb guests in both the studio and the five-bedroom unit.
Key Highlights
- Mixed‑use building at 406 Kirkpatrick with a commissary kitchen, studio unit, and five‑bedroom apartment upstairs
- Commissary kitchen includes commercial equipment, useful appliances, freezer, and a full shower for cleanup
- Heated garage/storage area offers space to work on vehicles
Financial Insights For Industrial
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 | $32.8k | $6.84 |
| − Vacancy | −$2.3k | −$0.47 |
| EGI | $30.6k | $6.37 |
| − OpEx | −$9.2k | −$1.91 |
| NOI | $21.4k | $4.46 |
4,800 SF · lease $6.84/SF/yr · vacancy 6.90% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$681.3K
$596.2K – $794.9K
NOI $47,693 @ 7.0% cap · market cap 10.60%
Second Best
Apartment 5plus
$647.4K
$566.5K – $755.3K
NOI $45,320 @ 7.0% cap · market cap 10.07%
Theoretical Best
Office A
$834.2K
$729.9K – $973.2K
NOI $58,393 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Commercial kitchens
FAQs
What type of property is this?
Commercial kitchen - Mixed-use building featuring a commissary kitchen with equipment, studio and five-bedroom apartment units, plus heated garage/storage and parking.
Where is this commercial kitchen located?
The property is located at 406 Kirkpatrick St Syracuse, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Mixed‑use building at 406 Kirkpatrick with a commissary kitchen, studio unit, and five‑bedroom apartment upstairs; Commissary kitchen includes commercial equipment, useful appliances, freezer, and a full shower for cleanup; Heated garage/storage area offers space to work on vehicles
