2006 Genesee St Syracuse, NY 13219-1683
- Strip malls
- 27,900 SF
- 2.25 lot acres
Current Use by Public Records
- Strip malls
Property Details for 2006 Genesee St
- Year built
- 1970
- Lot size
- 2.25 lot acres
- Property size
- 27,900 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 313201 014.-07-22.0
- APU
- 31320101407220
Description
Geddes Plaza, located at 2006 W Genesee St, Syracuse, NY 13219, presents a compelling investment opportunity. This Class B, stabilized mixed-use property encompasses 51,528 square feet across four buildings on a 2.25-acre lot. The property features 50 units, including 22 residential apartments and 28 commercial spaces, currently boasting 92% occupancy with 46 tenants under a modified lease structure. The asking price is $2,100,000, representing a price per square foot of $40.75 and a 9.80% cap rate, generating a net operating income (NOI) of $205,900. Its strategic location in the West Genesee Street Corridor provides exceptional visibility and accessibility, with proximity to Interstates 690 and 81, offering convenient access to Syracuse's suburbs and the Micron Chip Fabrication project. The property benefits from cost savings through Solvay's Municipal Electric Department. This high-occupancy, multi-tenant property offers investors a stable investment with significant potential for long-term growth and strong returns due to its prime location and low utility costs. The property is situated in Onondaga County, New York.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $580,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $565,000
Market price range: $295k - $992k
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.197
- Latitude
- 43.0494
- CBSA code
- 45060
- CBSA name
- SYRACUSE, NY METROPOLITAN STATISTICAL AREA
