Bakery Restaurant with
For Sale
Contact for pricing
505 N Main St, Syracuse, NY 13212
For sale bakery/restaurant with a walk-in cooler and freezer and an operational outside grease trap.
Property Size2,700 SF
Price / SF$222.22
Days on Market31
Property Features for 505 N Main St
General Information
Standard status
Active
Size
2,700 SF
Property subtype
RETAIL
Additional Details
Business Included
Yes
Highway Access
Yes
Grease Trap
Yes
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 952-7557
Listed By:
Elaina Pirro
(315) 952-7557
Source:
Moodyscre
Added: Jul 10
Changed: Jul 28
Last Checked: Jul 28 at 8:22AM
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 Cushman & Wakefield | Pyramid Brokerage - Syracuse
Investment Insights
Based on property information with market context.
This well-located bakery/restaurant operates as a fully equipped food service business, including a walk-in cooler and walk-in freezer sized 8 feet by 16 feet. The property also includes an operational outside grease trap, supporting ongoing kitchen operations.
The site is described as highly visible within a northern suburban retail area with major retailers nearby. Public remarks note that it is minutes from I-481 and I-81, and that multiple national and regional businesses are within two miles, including banks, quick-service restaurants, home improvement retailers, and automotive services.
The offering is for a conventional restaurant and retail space configuration at 505 N Main St in Syracuse, NY.
The site is described as highly visible within a northern suburban retail area with major retailers nearby. Public remarks note that it is minutes from I-481 and I-81, and that multiple national and regional businesses are within two miles, including banks, quick-service restaurants, home improvement retailers, and automotive services.
The offering is for a conventional restaurant and retail space configuration at 505 N Main St in Syracuse, NY.
Key Highlights
- Well‑located bakery/restaurant with 20+ year history in a highly visible retail location
- Walk‑in cooler/freezer sized 8' w x 16' d
- Operational outside grease trap
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
$26,827
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
4.47%
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%
$536,540
$536.5K
Cap Rate 7%
$383,243
$383.2K
Cap Rate 9%
$298,078
$298.1K
Market Conditions
NOI Build-Up for 2,700 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
$37.3K $13.80/SF
− Vacancy
−$1.5K −$0.55/SF
EGI
$35.8K $13.25/SF
− OpEx
−$8.9K −$3.31/SF
NOI
$26.8K $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%
$536,540
Cap Rate 7%
$383,243
Cap Rate 9%
$298,078
Alternative Uses
Best Use
Specialty Retail
$383.2K
$335.3K – $447.1K
NOI $26,827 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$341.4K
$298.8K – $398.3K
NOI $23,900 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$469.2K
$410.6K – $547.4K
NOI $32,846 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
76k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 34%
Home Improvements & Furnishings 20%
Beauty & Spa 4%
Harbor Freight Tools
Home Improvements & Furnishings
13,155 visits/mo
0.2 miles
Dunkin' Donuts
Dining
11,866 visits/mo
0.3 miles
Gulf Oil
Shops & Services
9,707 visits/mo
0.5 miles
Dollar General
Shops & Services
8,153 visits/mo
0.2 miles
7-Eleven
Shops & Services
6,675 visits/mo
0.4 miles
Demographics for 13212, NY
20,220
Population
9,213
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
1,822
Density / Sq Mi
$74,931
Median Household Income
$45,740
Median Earnings
$1,027
Median Rent
$157,400
Median Home Value
Market
Vacancy Rate% for Retail in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - For sale bakery/restaurant with a walk-in cooler and freezer and an operational outside grease trap.
Where is this conventional restaurant located?
The property is located at 505 N Main St Syracuse, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Well‑located bakery/restaurant with 20+ year history in a highly visible retail location; Walk‑in cooler/freezer sized 8' w x 16' d; Operational outside grease trap
