Land with Former Restaurant
For Sale
$1,950,000
6574 Lakeshore Road, Cicero, NY
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 Market67
Property Features for 6574 Lakeshore Road
General Information
Standard status
Active
Size
38 SF
Property subtype
Land
Building Details
Building Size
38 SF
Listing Agency:
Syracuse Office
(315) 445-8534
Listed By:
Michael Kalet · License #30KA0534709
(315) 445-8534
Source:
Pyramidbrokerage
Added: Jun 4
Changed: Aug 8
Last Checked: Jul 16 at 1:50AM
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
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 = 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
$62,078
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
3.18%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
