Bank with Drive-Thru and
For Sale
Contact for pricing
6004 Court St Rd, Syracuse, NY
Bank with drive-thru, storage, basement, parking, and high traffic.
Property Size2,187 SF
Lot Size113.53 Acres
Price / SF$182.90
Days on Market684
Property Features for 6004 Court St Rd
General Information
Standard status
Active
Size
2,187 SF
Lot size
113.53 Acres
Property subtype
RETAIL
Properties For Sale
at 6004 Court St Rd Contact us- Floor
- Bldg
- Size
- 2,187 SF
- Type
- RETAIL
- Availability
- AVAILABLE, Now
- Sublease
- No
6004 Old Court St
- 2,187 SF Bank
- 1,404 SF Former Garage/ Storage
- Finished Basement under Bank
-...
show more
Contact us
Listing Agency:
Sutton Real Estate Company - Corporate
(315) 424-1111
Listed By:
Kenneth Tyminski · License #30TY0923669
(315) 243-4678
Source:
Moodyscre
Added: Nov 5, 2024
Changed: Sep 5
Last Checked: Sep 19 at 1:50PM
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 Sutton Real Estate Company - Corporate
Investment Insights
Based on property information with market context.
This property features a 2,187-square-foot bank building and a 1,404-square-foot former garage or storage area. The bank includes a finished basement. Zoned COM 1, the property offers parking for 75 or more cars. It is located on a high-traffic corner lot less than half a mile from the New York State Thruway and includes a large lot with a drive-thru.
Key Highlights
- High traffic corner location, less than 1/2 mile from NYS thruway
- 75+/- car parking
- Large lot with drive‑thru
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
$21,730
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
5.43%
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%
$434,600
$434.6K
Cap Rate 7%
$310,429
$310.4K
Cap Rate 9%
$241,444
$241.4K
Market Conditions
NOI Build-Up for 2,187 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
$30.2K $13.80/SF
− Vacancy
−$1.2K −$0.55/SF
EGI
$29.0K $13.25/SF
− OpEx
−$7.2K −$3.31/SF
NOI
$21.7K $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%
$434,600
Cap Rate 7%
$310,429
Cap Rate 9%
$241,444
Alternative Uses
Best Use
Specialty Retail
$310.4K
$271.6K – $362.2K
NOI $21,730 @ 7.0% cap · market cap 5.43%
Second Best
Retail
$276.6K
$242.0K – $322.7K
NOI $19,359 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$380.1K
$332.6K – $443.4K
NOI $26,605 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
479
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Napa Auto Parts
Shops & Services
2,708 visits/mo
0.2 miles
Interstate Batteries
Shops & Services
969 visits/mo
0.5 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Bank with drive-thru, storage, basement, parking, and high traffic.
Where is this bank located?
The property is located at 6004 Court St Rd Syracuse, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: High traffic corner location, less than 1/2 mile from NYS thruway; 75+/- car parking; Large lot with drive‑thru
