Property profile

2792 Erie Blvd E Syracuse, NY 13224

FOR SALE
Investment properties
Property ID
US63-3220948
10,160 SF 0.69 ac lot Built 1978
Individually Owned 18-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 10,160 square foot commercial property, situated on a 0.69-acre lot at 2792 Erie Boulevard in Syracuse, NY 13224, presents a compelling investment opportunity. Currently operating as a retail headquarters, this multi-story building offers significant potential for diverse uses, including retail, office, or warehouse space. Its prime location on a bustling commercial corridor ensures high visibility and accessibility, benefiting from substantial foot traffic and convenient access to major highways and transportation hubs. The building boasts a distinctive architectural style, combining brick and glass, and includes ample parking for customers and employees. The interior features a spacious retail showroom and a large warehouse area, adaptable to single or multi-tenant occupancy. Two pylon signs enhance visibility, and a tower on the property offers potential for additional revenue. Built in 1978, this Class C property is comprised of three units, each valued at $233,000, totaling an asking price of $699,000. The property's proximity to a major medical center further enhances its desirability and potential for long-term growth. This value-add investment is ideal for those seeking a high-traffic location with diverse usage possibilities. The property's established presence on Erie Boulevard, a key commercial artery in Syracuse, guarantees strong visibility and accessibility.

Property profile

Verified
Property type Investment properties
Use group STORE/OFFICE (MIXED USE)
Year built 1978
Total area 10,160 SF
Lot 0.69 ac (30,000 SF)
Zoning code 21
APN 311500 034.-01-08.0
UPID US63-3220948

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Furniture & Home Goods

Location

2792 Erie Blvd E Syracuse, NY 13224
Syracuse metro Census 3602 SYRACUSE, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$735k
Blend (final) Blend
$355k

Owner & transaction history

since 2007
1 recorded transaction
2007
$400,000

Zoning & alternative use

21 · Syracuse, NY
Top alternative use upside
Neighborhood: shopping center $1.1M +40.4%
Office building $1.0M +30.1%
Restaurant $990,000 +27.8%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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