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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2616 Brewerton Rd Mattydale, NY 13211

    • Retail space
    • 10,908 SF
    • 1.79 lot acres
    For Sale
    View listing
    Last Sale
    Jan 11, 2022
    $4,956,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2267531
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
    • Rite Aid Pharmacy / Pharmacy
    • Walgreens / Beauty Supply Store / Convenience Store
    • higi / Health Consultant
    • Western Union / Money Transfer Service

    Property Details for 2616 Brewerton Rd

    Year built
    1998
    Lot size
    1.79 lot acres
    Property size
    10,908 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Retail space
    APN
    314889 059.-03-05.1
    APU
    31488905903051

    Description

    This exceptional 10,908-square-foot retail space, located at 2616 Brewerton Road in Mattydale, New York, presents a unique opportunity for a discerning tenant. Previously occupied by a Walgreens, this single-tenant building offers a spacious and well-maintained layout, ideal for a variety of retail or office uses. The property is situated in Onondaga County, benefiting from excellent visibility and accessibility. The entire building is currently vacant, providing immediate occupancy for a new business. The substantial square footage allows for ample space to accommodate a large-scale operation or multiple smaller businesses within a single location. The property's previous use as a pharmacy suggests existing infrastructure suitable for retail operations, potentially reducing initial setup costs. The building's design and layout are adaptable to suit a range of needs, offering significant potential for customization to meet specific business requirements. Given its size and location, this property represents a compelling investment opportunity for businesses seeking a prominent presence in the Mattydale market. Interested parties are encouraged to inquire further to explore the possibilities this exceptional space offers. The property is ready for immediate occupancy. The building's condition is excellent, reflecting its previous use as a well-maintained retail establishment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,005,000
      ML approach
      $6,330,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.145
    Latitude
    43.1038
    CBSA code
    45060
    CBSA name
    SYRACUSE, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $100,000
    $2,900,000
    $3,000,000
    -
    $112,360
    $3,258,427
    $3,370,787

    Comparable in this City

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    • Value Estimation
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      6724 Thompson Rd

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    • Value Estimation by Request
      2,238 SF

      5992 Molloy Rd

      FINANCIAL BUILDING • 2,238 SF
      5992 Molloy Rd, Syracuse, NY 13211-2130
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    • Value Estimation
      $2,595,000
      127,451 SF

      2803 Brewerton Rd

      SHOPPING CENTER, STRIP CENTER • 127,451 SF
      2803 Brewerton Rd, Syracuse, NY 13211-1003
      View Details
    • Value Estimation
      $900,000
      5,348 SF

      2723 Brewerton Rd

      GAS STATION • 5,348 SF
      2723 Brewerton Rd, Syracuse, NY 13211-1146
      View Details
    • Value Estimation
      $1,420,000
      12,920 SF

      5867 Molloy Rd

      VEHICLE SALES, RENTALS • 12,920 SF
      5867 Molloy Rd, Syracuse, NY 13211-2007
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,908 SF

      Retail Space Near Interstate 81

      10,908 SF retail space near Interstate 81.
      2616 Brewerton Rd, Mattydale, NY 13211
      View Details
    • $1,740,000
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      Prime Retail Development Site Available

      6.01 acre retail development site, highly visible, high traffic.
      2803 Brewerton Rd, Syracuse, NY 13211
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    • $200,000
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      Brewerton Road Commercial Property

      Syracuse Retail Space - Vacant, High Traffic
      2229 Brewerton Rd, Syracuse, NY 13211
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    • $338,500

      Commercial Land Available For Sale

      Commercial land available for sale.
      108 Malden Rd, Syracuse, NY 13211
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    • $595,000

      Versatile Commercial Space on Brewerton

      Over 10,000 SF commercial space with development potential.
      1800 Brewerton Rd, Syracuse, NY 13211
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    • $200,000
      2,688 SF

      Mattydale Commercial Building For Sale

      High-traffic location, versatile space, great potential.
      2229 Brewerton Rd, Syracuse, NY 13211
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    Similar Nearby for Lease

    • $12 SF/Yr

      Retail Space on LeMoyne Avenue

      Retail space with parking and signage on LeMoyne Avenue.
      1900 Brewerton Rd, Syracuse, NY 13211
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    • $4,200 /Mo
      3,600 SF

      Syracuse Commercial Gem: 3,600 SF

      Versatile office space near Route 81.
      2500 Brewerton Rd, Mattydale, NY 13211
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    • $15 SF/Yr
      52,000 SF

      Syracuse Office Space: Brooklawn Corporate Center

      Class A Office Suites, Syracuse, NY
      6712 Brooklawn Pkwy, Syracuse, NY 13211
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    • $8 SF/Yr
      81,330 SF

      Syracuse Industrial Buildings with Cranes

      Two industrial buildings totaling 81,330 SF with crane systems.
      6800 Townline Rd, Syracuse, NY 13211
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    • Contact for pricing
      4,630 SF

      Thompson Road Flex/Industrial Space

      27,000 SF building near Carrier Circle available for lease.
      6700 Thompson Rd, Syracuse, NY 13211
      View Details
    • $10 SF/Yr
      8,000 SF

      Thompson Road Office/Flex Building

      Multi-tenanted office/flex building with suites available for rent.
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      View Details
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    Mattydale, NY 13211
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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