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    701 Geddes St Syracuse, NY 13204

    Sponsored
    For Sale
    $1,500,000

    High-yield multi-tenant retail building

    Property size:
    38,552 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use investment property, located at 701 S Geddes St in Syracuse, NY, presents a compelling opportunity. The 38,552 square foot building, constructed in 1920 and renovated in 2022, sits on a 0.53-acre lot and boasts eleven thriving retail tenants. Its prime corner location at a traffic-controlled intersection ensures high visibility. The property offers a strong 7.36% cap rate with a current NOI of $110,400 and an asking price of $1,500,000 ($38.91/sq ft). The building is classified as a Class B, two-story structure with significant upside potential. The second floor presents a unique opportunity for expansion or redevelopment, adding further value to this already impressive investment. This multi-tenant building, with its established tenancy and prime location in Onondaga County (APN: 097.-16-62.0), is an ideal acquisition for investors seeking a strong return in a vibrant market. The property's history and current success combine to create a rare opportunity in Syracuse's retail landscape.

    Property Features for 701 Geddes St

    General Information

    Property type
    Individual retail properties
    Square Feet
    38,552 SF
    Class
    B
    Lot Size
    23,087 SF

    Building Details

    Year Built/Renovated
    1920/2022
    Buildings
    1
    Stories
    2

    HighLights

    • Multi‑tenant building with eleven thriving retail tenants.
    • Historic 38,552 SF, two‑story building, constructed in 1920, renovated in 2022.
    • Second‑floor offers significant redevelopment potential.
    • Prime corner location at a signalized intersection.
    • .53‑acre lot in a high‑visibility location.
    • Strong 7.36% cap rate, $110,400 NOI, $1,500,000 asking price ($38.91/SF).
    Property Profile Location Intelligence

    Current Use by Public Records

    Page West Cell Phone Store Amazon Hub Counter ... Shipping And Mailing Service Luxury Styles Beauty Salon JMS Direct Marketing Consultant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1717012
    Latitude
    43.0408618

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    FAQs

    What type of property is this?
    Individual retail property - High-yield multi-tenant retail building
    Where is this individual retail property located?
    The property is located at 701 Geddes St Syracuse, NY.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Multi-tenant building with eleven thriving retail tenants.; Historic 38,552 SF, two-story building, constructed in 1920, renovated in 2022.; Second-floor offers significant redevelopment potential.
    Request Owner's contact information
    701 Geddes St Syracuse, NY 13204
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    701 Geddes St Syracuse, NY 13204
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