709 Genesee St Syracuse, NY 13210
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Prime location, renovated building, strong rental income.
Property size:
9,036 SFProperty Features for 709 Genesee St
General Information
- Property type
- Multifamily properties
- Square Feet
- 9,036 SF
- Lot Size
- 1,786 SF
Building Details
- Year Renovated
- 2014
Listing Agent: Michael Kalet
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment property, located at 709 E Genesee St in Syracuse, NY, presents a compelling opportunity. The 9,036 square foot building, renovated in 2014, combines retail and multifamily uses. The property features five fully renovated apartments, each boasting hardwood floors, granite countertops, stainless steel appliances, in-unit laundry, and flat-screen TVs. Three apartments include gas fireplaces. The extensive 2014 renovation encompassed a complete interior rebuild, new roof, exterior façade, windows, and a porous parking lot accommodating 23 vehicles. The lot itself measures 49' x 357' and extends from East Genesee Street to East Fayette Street. Approximately 4,500 square feet of ground-floor retail or office space is available for lease, offering significant upside potential. This property benefits from its prime location, just seven blocks from downtown Syracuse, near Syracuse University and SUNY ESF, and adjacent to the Crown Plaza Syracuse Hotel. The area is experiencing significant growth in student housing, with several new developments nearby. The current occupancy is 50%, with a new ten-year net lease effective March 2024. Operating expenses pass-through equals $4.00/SF. This is an ideal opportunity for an investor seeking a blend of immediate rental income and future development potential in a thriving urban setting. The property is zoned for both retail and multifamily use.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Lofts at 709
Home Decor Store
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.1414399
- Latitude
- 43.0476618
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FAQs
What type of property is this?
Multifamily property - Prime location, renovated building, strong rental income.
Where is this multifamily property located?
The property is located at 709 Genesee St Syracuse, NY.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: 4,500± SF of ground-floor retail or office space available for lease.; 4,500± SF retail space with five fully renovated, leased apartments on the second floor providing supplemental income.; Excellent location: walking distance to Syracuse University, regional hospitals, downtown Syracuse, municipal government, and the East Genesee Street retail district; adjacent to the Crown Plaza Hotel.
