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    1641 Genesee St Syracuse, NY 13210

    Sponsored
    For Sale
    $2,900,000

    Prime Syracuse location, 51,751 SF, high potential.

    Property size:
    51,751 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property, located at 1641 E Genesee St in Syracuse, NY, presents a compelling investment opportunity. The three-story, 51,751 square foot freestanding building sits on a 1.2-acre lot and offers significant redevelopment potential. Built in 1920, the property is eligible for Historic Tax Credits, having previously received approval. The building features partially built-out commercial space on the first floor, with plans already drawn for upper-floor apartments. The property boasts 65 parking spaces, including ample open parking, and benefits from a recently updated water and sewer system. Its prime location offers easy access to major highways, placing it conveniently near Syracuse University's campus, approximately 1.2 miles from the Syracuse waterfront (with planned major developments), 7 miles from the international airport, and roughly 13 miles from the Micron Chip Plant site. The asking price is $2,900,000, translating to $56.04 per square foot. This presents a rare chance to acquire a substantial property with significant upside in a rapidly developing area of Syracuse. The existing infrastructure and approved tax credits significantly reduce the hurdles to realizing the property's full potential.

    Property Features for 1641 Genesee St

    General Information

    Property type
    Mixed-use properties
    Square Feet
    51,751 SF
    Lot Size
    52,272 SF

    HighLights

    • Upper floor apartment plans available.
    • First floor commercial space partially finished.
    • Modernized water and sewer infrastructure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Interior Innovations Corporate Office

    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
    -76.123709679666
    Latitude
    43.047093340603

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Syracuse location, 51,751 SF, high potential.
    Where is this mixed-use property located?
    The property is located at 1641 Genesee St Syracuse, NY.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: Upper floor apartment plans available.; First floor commercial space partially finished.; Modernized water and sewer infrastructure.
    (315) 424-1111
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    1641 Genesee St Syracuse, NY 13210
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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
    1641 Genesee St Syracuse, NY 13210
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