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Property profile & analytics
FOR LEASE
Super regional malls
101 Shop City Plz, Syracuse, NY 13206
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US63-1448568
For Lease
1 / 2
$13,155,000
101 Shop City Plz, Syracuse, NY 13206
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1950
Total area
188,644 SF
Lot
12.78 ac (556,697 SF)
Zoning code
05 - COMMERCIAL
APN
314889 069.-16-39.0
UPID
US63-1448568
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$14.43M
Blend (final)
Blend
$13.16M
Owner & transaction history
Sky Shop City Owner LLC
Sky Shop City Owner LLC
since 2025
Last sale
$16.0M
1 recorded transaction
Zoning & alternative use
05 - COMMERCIAL · Syracuse, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Syracuse submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Syracuse submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$20,195,000
Current use
OFFICE BUILDING
$18,710,000
Change: -7% · Conversion: Moderate
RESTAURANT
$18,375,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$13.16M
Range $11.84M – $14.47M · ±10% · vs last sale $16.00M (Jun 3 2025)
Last sale anchor
$16.00M
Jun 3 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$70 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$6,250,000
Assessed 2023
Previous assessed
$6,250,000
+0.0% YoY
Assessed land
$955,000
Assessed improvement
$5,295,000
Land market value
$1,073,034
Improvement market value
$5,949,438
Total market value
$7,022,472
Applied tax rate
314,804.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1950
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
188,644 SF
Lot
12.78 ac (556,697 SF)
Zoning code
05 - COMMERCIAL
APN
314889 069.-16-39.0
UPID
US63-1448568
Jurisdiction
ONONDAGA
Zoning & alternative use
05 - COMMERCIAL · Syracuse, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Syracuse, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Syracuse. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$20.2M
OFFICE BUILDING
Est. value
$18.7M
RESTAURANT
Est. value
$18.4M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
12.78 ac
Current owner
From public records · entity-resolved
Sky Shop City Owner LLC
Entity
Mailing address
244 W 39TH ST #4, NEW YORK, NY 10018-4413
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 3, 2025
$16,000,000
Sky Shop City Owner LLC
Shop City Pw Lb LLC
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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