Property profile

429 State St Syracuse, NY 13203

OFF-MARKET
Retail properties & Spaces
6,300 SF 0.46 ac lot
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Property summary

AI-generated overview

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 profile

Verified
Property type Retail properties & Spaces
Total area 6,300 SF
Lot 0.46 ac (20,038 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

429 State St Syracuse, NY 13203
Syracuse metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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