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Property profile & analytics
OFF-MARKET
Estimated value
$3,275,000
Commercial land
300 Spencer St Syracuse, NY 13204-1338
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-6115962
Property summary
AI-generated overview
This exceptional 6-acre development site is ideally located in Syracuse's vibrant Inner Harbor/Franklin Square District, offering unparalleled potential for mixed-use development. Zoned MX-4: Urban Core, this property presents a unique opportunity for investors and developers seeking a prime location for a variety of projects. The expansive lot allows for significant flexibility in design and construction, catering to multi-family residential, commercial, or a combination of both. The property is available for sale at $5,000,000, or alternatively, a triple net (NNN) lease arrangement can be negotiated. Its central location within the Inner Harbor provides easy access to major transportation routes, amenities, and the bustling city center. This is a rare chance to acquire a substantial parcel of land in a rapidly growing area of Syracuse, New York, with the potential for substantial returns. The property's address is 300 Spencer St, Syracuse, NY 13204, situated in Onondaga County. Broker cooperation is available. This is a truly remarkable opportunity to shape the future of Syracuse's Inner Harbor.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
5.44 ac (236,966 SF)
Zoning code
22
APN
311500 117.-08-04.1
UPID
US63-6115962
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.52M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.28M
Owner & transaction history
300 Spencer Hb LLC · 3 yrs held
300 Spencer Hb LLC
since 2023
Last sale
$3.1M
2 recorded transactions
Zoning & alternative use
22 · Syracuse, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Syracuse submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Syracuse submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,375,000
ML approach
$3,520,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.28M
Range $2.95M – $3.60M · ±10% · vs last sale $3.10M (May 25 2023)
Last sale anchor
$3.10M
May 25 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$2,153,000
Assessed 2023
Previous assessed
$2,153,000
+0.0% YoY
Assessed land
$2,153,000
Land market value
$3,337,984
Total market value
$3,337,984
Applied tax rate
311,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Lot
5.44 ac (236,966 SF)
Zoning code
22
APN
311500 117.-08-04.1
UPID
US63-6115962
Jurisdiction
ONONDAGA
Zoning & alternative use
22 · Syracuse, NY
Zoning 22 · permitted uses
22 · Syracuse, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Syracuse. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Lot
5.44 ac
Current owner
From public records · entity-resolved
300 Spencer Hb LLC
Entity
Mailing address
201 SOLAR ST, SYRACUSE, NY 13204-1425
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2023
$3,100,000
300 Spencer Hb LLC
300 Spencer Street LLC
Warranty Deed
$2,100,000 · 300 Spencer St LLC
Jun 3, 2019
$2,000,000
300 Spencer Street LLC
Dembo Development Assoc
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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