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    3125 Erie Blvd Syracuse, NY 13057

    For Sale
    $1,666,000

    Syracuse, NY: High-return FedEx storefront.

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    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 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

    HighLights

    • Investment‑grade tenant: FedEx Corporation (S&P: BBB).
    • 6.5% capitalization rate.
    • NNN lease with nine years remaining, plus two five‑year renewal options.
    • 6,000 SF building, renovated in 2023, built in 1999.
    • 30+ parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.0813041
    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.
    Request Owner's contact information
    3125 Erie Blvd Syracuse, NY 13057
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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
    3125 Erie Blvd Syracuse, NY 13057
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