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    429 State St Syracuse, NY 13203

    For Sale
    $850,000

    6,300 SF Restaurant, Vacant, High Visibility

    Property size:
    6,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 6,300 square foot, three-story freestanding building is situated on a 0.46-acre corner lot in Syracuse, NY, offering ample off-street parking. Previously housing Ilario’s Trattoria, this vacant property boasts a fully equipped kitchen, bar, and lounge, perfect for a restaurant or bar concept. The building benefits from a high-visibility location across from St. Joseph’s Health Hospital, one of the region's largest employers, with approximately 4,000 employees. The included fixtures, furniture, and equipment (FF&E) encompass stoves, grills, fryers, coolers, freezers, a dishwasher, and prep tables. Four adjacent lots provide additional parking. The property is zoned MX-4 and enjoys convenient access to downtown Syracuse, Destiny USA, I-81 (less than 0.5 miles), and I-690 (less than 1.5 miles). This prime location at the entrance to Syracuse's Little Italy neighborhood presents a unique opportunity for a thriving food and beverage establishment. The asking price is $850,000, with a price per square foot of $134.92.

    Property Features for 429 State St

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,300 SF
    Lot Size
    20,038 SF

    Building Details

    Buildings
    1
    Stories
    3

    HighLights

    • $850,000 asking price for a vacant 6,300 SF retail property.
    • Three‑story building on a 0.46‑acre lot with ample off‑street parking.
    • High‑visibility location across from St. Joseph's Health Hospital in Syracuse, NY's Little Italy neighborhood.
    • Fully equipped kitchen, bar, and lounge included.
    • MX‑4 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Daycare Center 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
    -76.150577256676
    Latitude
    43.055096289443

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    FAQs

    What type of property is this?
    Individual retail property - 6,300 SF Restaurant, Vacant, High Visibility
    Where is this individual retail property located?
    The property is located at 429 State St Syracuse, NY.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: $850,000 asking price for a vacant 6,300 SF retail property.; Three-story building on a 0.46-acre lot with ample off-street parking.; High-visibility location across from St. Joseph's Health Hospital in Syracuse, NY's Little Italy neighborhood.
    Request Owner's contact information
    429 State St Syracuse, NY 13203
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    Syracuse, NY 13203
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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
    429 State St Syracuse, NY 13203
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