Property profile

3011 Erie Blvd E Syracuse, NY 13224

FOR LEASE
Turn key restaurants
Property ID
US63-2989078
10,148 SF 1.38 ac lot Built 1960
Individually Owned 17-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 10,148-square-foot freestanding building presents a remarkable investment opportunity in Syracuse, New York. Situated on a 1.38-acre lot with 95 feet of frontage on Erie Boulevard East, a major commercial corridor, this property boasts unparalleled visibility and exposure. The building, currently configured as a restaurant featuring an oversized bar and a large kitchen, is adaptable to various uses thanks to its "Very Flexible Industrial District A" zoning. The expansive lot provides ample parking with 100 spaces, exceeding the standard 10 spaces per 1,000 square feet. Its prime location offers convenient access to I-690, proximity to Dewitt, Syracuse University, and downtown Syracuse, ensuring high traffic counts and excellent demographics. The property's dimensions measure approximately 150 feet by 402.43 feet, maximizing its potential. This versatile space is ideal for a variety of retail or food service businesses seeking a high-profile location with substantial parking and flexible zoning. The asking price is $1,250,000. This is a rare opportunity to acquire a significant commercial property in a thriving area.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1960
Total area 10,148 SF
Lot 1.38 ac (60,113 SF)
Zoning code 22
APN 311500 033.-01-09.0
UPID US63-2989078

Cap rate & NOI

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

Location

3011 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
$686k
Blend (final) Blend
$385k

Owner & transaction history

since 2009
2 recorded transactions
2009
$900,000
2007
$1.2M

Zoning & alternative use

22 · Syracuse, NY
Top alternative use upside
Neighborhood: shopping center $1.1M +9.9%
Office building $1.0M +1.8%

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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