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For sale
Conventional restaurants
NY
Syracuse
13203
429 N State St

Restaurant Building in Little Italy

429 N State St, Syracuse, NY 13203

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For Sale

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Freestanding restaurant with equipped kitchen and parking in Syracuse.

Type:Retail

Property size:

6,300 SF

Lot size:

0.46 Acres

Price / SF:

$119/SF

HighLights

Fully equipped commercial kitchen, bar, and lounge ready for immediate restaurant/bar operation.
High‑visibility corner lot location across from St. Joseph’s Health Hospital, a major employer.
Ample off‑street parking with four adjacent lots.
Large 6,300 SF three‑story freestanding building.
Located at the entrance to Syracuse’s Little Italy neighborhood.
Convenient access to major highways (I‑81 and I‑690) and downtown Syracuse.

We can help!

Contact an agent

Ed Kiesa

Learn more

For Sale

Contact for pricing

Freestanding restaurant with equipped kitchen and parking in Syracuse.

Type:Retail

Property size:

6,300 SF

Lot size:

0.46 Acres

Price / SF:

$119/SF

Added:: Aug 13, 2024
Days on Market:: 693
Last Refresh:: Jun 28 at 11:26 am

Property Features for 429 N State St

General Information

Standard status: Active
Size: 6,300 SF
Lot size: 0.46 Acres
Property subtype: Retail

We can help!

Contact an agent

Ed Kiesa

Listing office CBRE - Syracuse

Listing date Aug 13, 2024

Source Crexi

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 CBRE - Syracuse

HighLights

Fully equipped commercial kitchen, bar, and lounge ready for immediate restaurant/bar operation.
High‑visibility corner lot location across from St. Joseph’s Health Hospital, a major employer.
Ample off‑street parking with four adjacent lots.
Large 6,300 SF three‑story freestanding building.
Located at the entrance to Syracuse’s Little Italy neighborhood.
Convenient access to major highways (I‑81 and I‑690) and downtown Syracuse.

Overview

This 6,300 square foot, three-story, freestanding building is a former restaurant and bar situated on a combined 0.46-acre corner lot, offering ample off-street parking. Previously home to Ilario’s Trattoria, the property is located at the entrance to Syracuse’s Little Italy neighborhood. It features a fully equipped kitchen, bar, and lounge. The kitchen equipment includes stoves, grills, fryers, coolers, freezers, a dishwasher, and prep tables. The property benefits from a high-visibility location across from St. Joseph’s Health Hospital, which has 451 beds and is one of the region’s largest employers with 4,000 employees. Four adjacent lots are available for parking. The zoning is MX-4. The property is located minutes from downtown Syracuse and Destiny USA, less than 0.5 miles from I-81, and less than 1.5 miles from I-690. The intended use of the property is for conventional restaurants and other restaurants.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$86.9k	$13.80
− Vacancy	−$3.5k	−$0.55
EGI	$83.5k	$13.25
− OpEx	−$20.9k	−$3.31
NOI	$62.6k	$9.94

6,300 SF · lease $13.80/SF/yr · vacancy 4.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$894.2K

$782.5K – $1.04M (±1% cap)

NOI $62,597 @ 7.0% cap · market cap 8.35%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.09M

$958.0K – $1.28M (±1% cap)

NOI $76,640 @ 7.0% cap · market cap 10.22%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Conventional restaurants

Suggested Use

Location Insight

Map
Local Demand

City: Syracuse
County: Onondaga
State: New York
Longitude: -76.1506422
Latitude: 43.0549196

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For sale
Conventional restaurants
NY
Syracuse
13203
429 N State St

What type of property is this?

Conventional restaurant - Freestanding restaurant with equipped kitchen and parking in Syracuse.

Where is this conventional restaurant located?

The property is located at 429 N State St Syracuse, NY.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Fully equipped commercial kitchen, bar, and lounge ready for immediate restaurant/bar operation.; High‑visibility corner lot location across from St. Joseph’s Health Hospital, a major employer.; Ample off‑street parking with four adjacent lots.

429 N State St, Syracuse, NY 13203

Freestanding restaurant with equipped kitchen and parking in Syracuse.

Property Features for 429 N State St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Restaurant Opportunity on State Fair

North Syracuse Medical Office Building

Commercial Flex Building with Shop Area

Four-Family Residential Building with Parking

Victorian Three-Family Investment Property

Two-Family Property with Covered Porch

Turnkey Two-Family Income Property

Fully Leased Retail Shopping Plaza

Up-and-Down Duplex with Third-Floor Bonus

Syracuse Multifamily Investment Opportunity

Syracuse Two-Family Investment Opportunity

Syracuse Multi-Family Investment Opportunity

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