Operating Nightclub with Lodge
New
For Sale
Contact for pricing
408 Pearl Street, Syracuse, NY 13203
Currently operating nightclub with MX-4 zoning and extended daily hours.
Property Size4,648 SF
Price / SF$120.27
Days on Market6
Property Features for 408 Pearl Street
General Information
Standard status
Active
Size
4,648 SF
Property subtype
Retail
Zoning
MX-4
Additional Details
Highway Access
Yes
Listing Agency:
Orange Realty
Listed By:
s kg · License #NY 10491211459
Source:
Crexi
Added: Sep 6
Changed: Sep 9
Last Checked: Sep 11 at 6:59AM
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 Orange Realty
Investment Insights
Based on property information with market context.
This currently operating nightclub occupies a 4,648-square-foot building with lodge-style interior finishes. The venue operates from 9AM to 2AM, supporting a broad daily schedule for its existing use.
The property is positioned just off Highway 81 North, providing access to a major regional route. MX-4 zoning is in place, offering a range of potential commercial applications subject to applicable requirements.
The property is positioned just off Highway 81 North, providing access to a major regional route. MX-4 zoning is in place, offering a range of potential commercial applications subject to applicable requirements.
Key Highlights
- Currently operating nightclub with hours from 9AM‑2AM
- 4,648 SQ FT building
- MX‑4 Zoning
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
$46,183
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
8.26%
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%
$923,660
$923.7K
Cap Rate 7%
$659,757
$659.8K
Cap Rate 9%
$513,144
$513.1K
Market Conditions
NOI Build-Up for 4,648 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
$64.1K $13.80/SF
− Vacancy
−$2.6K −$0.55/SF
EGI
$61.6K $13.25/SF
− OpEx
−$15.4K −$3.31/SF
NOI
$46.2K $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 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%
$923,660
Cap Rate 7%
$659,757
Cap Rate 9%
$513,144
Alternative Uses
Best Use
Specialty Retail
$659.8K
$577.3K – $769.7K
NOI $46,183 @ 7.0% cap · market cap 8.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.8K
$706.8K – $942.4K
NOI $56,543 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,655
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13203, NY
16,240
Population
9,092
Households
1.8
Avg Household Size
37
Median Age
28%
College-Educated
84%
High-School Grad
1.7 sq mi
ZIP Area
9,553
Density / Sq Mi
$46,526
Median Household Income
$38,240
Median Earnings
$953
Median Rent
$148,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Night club - Currently operating nightclub with MX-4 zoning and extended daily hours.
Where is this night club located?
The property is located at 408 Pearl Street Syracuse, NY.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Currently operating nightclub with hours from 9AM‑2AM; 4,648 SQ FT building; MX‑4 Zoning
