701 Geddes St Syracuse, NY 13204
- Investment properties
- 31,480 SF
- 0.53 lot acres
Current Use by Public Records
- Page West / Cell Phone Store / Electronics Store
- Amazon Hub Counter - Page West / Shipping And Mailing Service
- Luxury Styles / Beauty Salon
- JMS Direct / Marketing Consultant
Property Details for 701 Geddes St
- Year built
- 1920
- Lot size
- 0.53 lot acres
- Property size
- 31,480 SF
- Zone code
- 10
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 311500 097.-16-62.0
- APU
- 31150009716620
Description
701 South Geddes Street in Syracuse, NY presents a compelling investment opportunity. This 44,680 square foot general commercial building sits on a 0.53-acre lot at a key, signalized intersection, ensuring high visibility and accessibility. Constructed in 1920, the building currently houses eleven thriving retail tenants, demonstrating strong existing income potential. The property's prominent location makes it ideal for retail and street retail investors seeking a well-established presence in a bustling area of Greater Syracuse. The building offers 38,552 square feet of leasable space, currently occupied by multiple tenants. The property's substantial size and location offer significant upside potential. The existing structure provides a solid foundation for continued rental income, while the potential for development on the second floor presents an exciting avenue for future expansion and increased profitability. This corner property represents a rare chance to acquire a well-established, income-generating asset in a desirable Syracuse location with significant growth potential. The asking price is $1,500,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $265,000
- 6.5%
- $240,000
- 7%
- $245,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $240,000
- Geo Method
- $310,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $295,000
- Retail
- $215,000
- Mixed-Use
- $235,000
- Hospitality
- $295,000
- Educational
- $235,000
- Residential Income
- $290,000
- Energy
- $265,000
- Income-Based Land
- $225,000
- Food Service
- $210,000
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.1716
- Latitude
- 43.0407
- CBSA code
- 45060
- CBSA name
- SYRACUSE, NY METROPOLITAN STATISTICAL AREA
