Land with Former Restaurant
6574 Lakeshore Road, Cicero, NY
For Sale
$1,950,000
Land offering includes a former 20,000 SF restaurant structure on-site for redevelopment or site-clearing plans.
Property Size38 SF
Price / SF$97.50
Days on Market160
Property Features for 6574 Lakeshore Road
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Listing Agency:
Syracuse Office
Listed By:
Michael Kalet · License NY 30KA0534709
(315) 445-8534
Source:
Pyramidbrokerage
Added: Jun 4
Changed: Nov 9
Last Checked: Nov 10 at 5:18AM
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 Syracuse Office
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Investment Insights
Based on property information with market context.
The property is a land offering that includes a former restaurant building totaling approximately 20,000 SF. Public remarks indicate the existing structure is block construction and is associated with “Wysocki’s.” The stated value basis for the site is the land and its defined location, expressed at $50,000 per acre.
The site is near Lakeshore Country Club and is positioned in an area described as having new single-family home development. It is also noted as being near Oneida Lake and Micron Technology.
With the existing restaurant improvements on the parcel, the property may fit buyers looking for residential development while accounting for the current building on-site. The surrounding context of nearby single-family activity and nearby employment and recreation points may support interest from operators and developers evaluating residential growth in the area.
The site is near Lakeshore Country Club and is positioned in an area described as having new single-family home development. It is also noted as being near Oneida Lake and Micron Technology.
With the existing restaurant improvements on the parcel, the property may fit buyers looking for residential development while accounting for the current building on-site. The surrounding context of nearby single-family activity and nearby employment and recreation points may support interest from operators and developers evaluating residential growth in the area.
Key Highlights
- Land offering includes a former 20,000 SF restaurant structure for redevelopment or site‑clearing plans
- Former restaurant building is Wysocki's
- Property is valued based on land at $50,000 per acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,078
Cap Rate
3.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,560
$1.2M
Cap Rate 7%
$886,829
$886.8K
Cap Rate 9%
$689,756
$689.8K
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$86.4K $4.32/SF
− Vacancy
−$3.6K −$0.18/SF
EGI
$82.8K $4.14/SF
− OpEx
−$20.7K −$1.03/SF
NOI
$62.1K $3.10/SF
Area
Onondaga County, NY
Vacancy
4.20%
Lease Rate
$4.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,241,560
Cap Rate 7%
$886,829
Cap Rate 9%
$689,756
Alternative Uses
Best Use
Specialty Retail
$886.8K
$776.0K – $1.03M
NOI $62,078 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.48M
$3.04M – $4.06M
NOI $243,302 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
49
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Land offering includes a former 20,000 SF restaurant structure on-site for redevelopment or site-clearing plans.
Where is this residential land & home lot located?
The property is located at 6574 Lakeshore Road Cicero, NY.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Land offering includes a former 20,000 SF restaurant structure for redevelopment or site‑clearing plans; Former restaurant building is Wysocki's; Property is valued based on land at $50,000 per acre
