3125 Erie Blvd Syracuse, NY 13057
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Syracuse, NY: High-return FedEx storefront.
Property size:
6,000 SFProperty Features for 3125 Erie Blvd
General Information
- Property type
- Individual retail properties
- Square Feet
- 6,000 SF
- Class
- A
- Lot Size
- 24,394 SF
Building Details
- Year Built/Renovated
- 1999/2023
- Buildings
- 1
- Stories
- 1
- Units
- 2
Listing Agency: Sutton Real Estate Company LLC Listing Agent: Barton Feinberg
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 6,000 square foot, Class A storefront in East Syracuse, NY, fully occupied by a credit-rated FedEx under a Net Lease. The property, built in 1999 and completely renovated in 2023, boasts a strong 6.75% cap rate and a substantial remaining lease term of 8.5 years (expiring 05/31/2033, commencing 06/01/2023), with renewal options for 2-5 years. The single-tenant, NNN lease provides a stable income stream, further enhanced by rent bumps scheduled for years 6-10. Located at 3125 Erie Blvd E, the property sits on a 0.56-acre lot and includes 35 parking spaces, catering to both employees and customers. The building is situated in a high-traffic area within Onondaga County, benefiting from excellent demographics and a densely populated surrounding area. The property's strong financial performance is underscored by a current NOI of $112,456 and a price per square foot of $277.67. This is a 1031 exchange-eligible property, making it an attractive option for investors seeking tax advantages. The property is zoned for commercial use and comprises one, single-story building with two units. This investment offers a compelling blend of stability, strong cash flow, and significant growth potential.
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.0813041
- Latitude
- 43.0560053
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FAQs
What type of property is this?
Individual retail property - Syracuse, NY: High-return FedEx storefront.
Where is this individual retail property located?
The property is located at 3125 Erie Blvd Syracuse, NY.
What is the asking price?
The asking price for this property is $1,666,000.
What are key features of this property?
This property features: Investment-grade tenant: FedEx Corporation (S&P: BBB).; 6.5% capitalization rate.; NNN lease with nine years remaining, plus two five-year renewal options.
