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Property profile & analytics
OFF-MARKET
Office buildings

228 Seneca St Manlius, NY 13104-1818

3,195 SF 0.61 ac lot Built 1955
Entity Owned 14-yr Hold Absentee Owner Free & Clear
Property ID
US63-2480307
Property summary
AI-generated overview

This 0.61-acre commercial property in Manlius, NY, presents a unique redevelopment opportunity. Located at 228 E Seneca St, this B-Class property boasts 6,382 square feet, including 6,200 square feet of net rentable space, spread across a two-story building constructed in 1955 and renovated in 1990. The property features a commercially zoned lot (Com) and is ideally situated for high visibility, benefiting from heavy daytime traffic and proximity to churches, libraries, restaurants, shops, parks (Mill Run), and desirable neighborhoods. The site's versatility allows for various uses, including retail, personal service shops, banks, offices, restaurants, and indoor theaters, as permitted by zoning. The existing building is completely vacant and ready for immediate occupancy. Significant value-add features include functional vaults, drive-thrus, security systems, and ATM space. Ample parking is available, with 16 paved spaces, an estimated 5 gravel spaces, and additional redevelopable land for further expansion. The property's strategic location offers easy access to major transportation arteries, including Hancock International Airport (18.1 miles), Destiny USA (13.7 miles), Downtown Syracuse (11.6 miles), Cazenovia (10 minutes), Lyndon Corners (4 miles), and Fayetteville-Manlius High School (half a mile). The asking price is $1,200,000. The seller is accepting reasonable offers but is not willing to finance. APN: 028.-01-10.1.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1955
Total area 3,195 SF
Lot 0.61 ac (26,572 SF)
Zoning code IND
APN 313803 028.-01-10.1
UPID US63-2480307
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
Current use
Occupant on record · Public records
  • Tyler Maxon Physician
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
First Niagara Bank · 14 yrs held
First Niagara Bank
since 2012
1 recorded transaction
2012
$482,000
Zoning & alternative use
IND · Manlius, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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