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Former Rite Aid For Sale

512 W Onondaga St, Syracuse, NY 13204

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For Sale

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Spacious building on 1.4 acres in Syracuse, NY.

Type:Retail

Property size:

11,348 SF

Lot size:

1.40 Acres

Price / SF:

$114/SF

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Contact for Pricing

Please call us for current price
and status of this listing

Sarah Couch

Real Estate License ID: NY

HighLights

1.4‑acre lot in the heart of Syracuse
Prime location with frontage and access on W Onondaga Street and Slocum Avenue
Exceptional opportunity for investors or users
Vacant former Rite Aid building ready for transformation
Suitable for retail, medical, fitness, or other ventures
Built in 1999

For Sale

Contact for pricing

Spacious building on 1.4 acres in Syracuse, NY.

Type:Retail

Property size:

11,348 SF

Lot size:

1.40 Acres

Price / SF:

$114/SF

Added:: Apr 19, 2024
Days on Market:: 809
Last Refresh:: Jul 5 at 3:20 pm

Property Features for 512 W Onondaga St

General Information

Standard status: Active
Size: 11,348 SF
Lot size: 1.40 Acres
Property subtype: Retail

Building Details

Year Built: 1999

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Contact an agent

Sarah Couch

Listing office Ellicott Development

Listing date Apr 19, 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 Ellicott Development

HighLights

1.4‑acre lot in the heart of Syracuse
Prime location with frontage and access on W Onondaga Street and Slocum Avenue
Exceptional opportunity for investors or users
Vacant former Rite Aid building ready for transformation
Suitable for retail, medical, fitness, or other ventures
Built in 1999

Overview

This prime property, formerly a Rite Aid, is a spacious building situated on a 1.4-acre lot. It features frontage and access on both W Onondaga Street and Slocum Avenue, providing an advantageous location in Syracuse. This property offers an opportunity for investors or users to acquire a vacant former Rite Aid and transform it. Potential uses include retail space, a medical center, or a fitness facility. The building has a size of 11348 square feet.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$156.6k	$13.80
− Vacancy	−$6.3k	−$0.55
EGI	$150.3k	$13.25
− OpEx	−$37.6k	−$3.31
NOI	$112.8k	$9.94

11,348 SF · lease $13.80/SF/yr · vacancy 4.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.61M

$1.41M – $1.88M (±1% cap)

NOI $112,754 @ 7.0% cap · market cap 8.71%

Second Best

Retail

$1.44M

$1.26M – $1.67M (±1% cap)

NOI $100,452 @ 7.0% cap · market cap 7.76%

Theoretical Best

Office A

$1.97M

$1.73M – $2.30M (±1% cap)

NOI $138,050 @ 7.0% cap · market cap 10.66%

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

Property Profile Location Intelligence

Current Use by Public Records

Drug stores

Suggested Use

Similar Places Nearby

Westside Family Pharmacy LLC — 216 Seymour St, Syracuse, NY 13204
Baonhan Tran, Pharm — 522 w onondaga st, syracuse, ny 13202
Marshall J. Grignon, PharmD — 522 w onondaga st, syracuse, ny 13202
David Giarrusso — 522 w onondaga st, syracuse, ny 132043225
Mello CBD Oil — syracuse, ny 13202

Location Insight

Map
Local Demand

City: Syracuse
County: Onondaga
State: New York
Longitude: -76.1588395
Latitude: 43.0399676

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For sale
Drug stores
NY
Syracuse
13204
512 W Onondaga St

What type of property is this?

Drug store - Spacious building on 1.4 acres in Syracuse, NY.

Where is this drug store located?

The property is located at 512 W Onondaga St Syracuse, NY.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: 1.4‑acre lot in the heart of Syracuse; Prime location with frontage and access on W Onondaga Street and Slocum Avenue; Exceptional opportunity for investors or users

512 W Onondaga St, Syracuse, NY 13204

Spacious building on 1.4 acres in Syracuse, NY.

Property Features for 512 W Onondaga St

General Information

Building Details

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

Similar Places Nearby

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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