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    Property profile & analytics

    2792 Erie Blvd E Syracuse, NY 13210

    • Investment properties
    • 10,160 SF
    • 0.69 lot acres
    For Sale
    View listing
    $550,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3220948
    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

    • Syracuse Mattress / Furniture & Home Goods

    Property Details for 2792 Erie Blvd E

    Year built
    1978
    Lot size
    0.69 lot acres
    Property size
    10,160 SF
    Zone code
    21
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    311500 034.-01-08.0
    APU
    31150003401080

    Description

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $734,000
      Market price range: $393k - $1.17M
      AI Estimate
      $588,000
      Market price range: $350k - $885k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $775,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,090,000
      Change: +40% Conversion: Difficult
      OFFICE BUILDING
      $1,010,000
      Change: +30% Conversion: Easy
      RESTAURANT
      $990,000
      Change: +28% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $770,000
      Change: -0% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.0946
    Latitude
    43.0542
    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
    $91,400
    $355,600
    $447,000
    -
    $141,705
    $551,318
    $693,023

    Comparable in this City

    • Value Estimation by Request
      5,520 SF

      2000 Fayette St

      STORE/OFFICE (MIXED USE) • 5,520 SF
      2000 Fayette St, Syracuse, NY 13224-1015
      View Details
    • Value Estimation by Request
      5,626 SF

      2406 Erie E Blvd

      STORE/OFFICE (MIXED USE) • 5,626 SF
      2406 Erie E Blvd, Syracuse, NY 13224-1108
      View Details
    • Value Estimation
      $650,000
      10,388 SF

      2760 Erie E Blvd

      STORE/OFFICE (MIXED USE) • 10,388 SF
      2760 Erie E Blvd, Syracuse, NY 13224-1204
      View Details
    • Value Estimation
      $705,000
      16,184 SF

      2922 Genesee St, Unit 28

      STORE/OFFICE (MIXED USE) • 16,184 SF
      2922 Genesee St, Syracuse, NY 13224-1614
      View Details
    • Value Estimation
      $780,000
      6,889 SF

      2016 Erie E Blvd

      STORE/OFFICE (MIXED USE) • 6,889 SF
      2016 Erie E Blvd, Syracuse, NY 13224-1039
      View Details
    • Value Estimation
      $775,000
      6,822 SF

      3068 Erie E Blvd

      STORE/OFFICE (MIXED USE) • 6,822 SF
      3068 Erie E Blvd, Syracuse, NY 13224-1404
      View Details

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    2792 Erie Blvd E
    Syracuse, NY 13210
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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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