Property profile

363 Seneca Tpke Syracuse, NY 13207

OFF-MARKET
Bars & Pubs
Property ID
US63-3062523
1,511 SF 0.12 ac lot Built 1940
Entity Owned 10-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional turnkey bar opportunity presents a rare chance to acquire a thriving business in Syracuse, NY's vibrant downtown. Located within the historic Bank of Onondaga building at 363 W Seneca Tpke, this 3,022 square foot establishment boasts a rich history of success, having operated as The Night Drop for the past nine years, and previously as The Remedy for forty years. This impressive 50+ year track record speaks volumes about the location's enduring appeal. The property sits on a 0.12-acre lot and is offered at $259,000. Significant recent improvements enhance both functionality and longevity. These include a complete overhaul of the electrical and plumbing systems, a new furnace, air conditioning unit, and a fully updated HVAC vent system. Half of the roof has been recently replaced, ensuring long-term structural integrity. Security is a key feature, with a robust hardwired and wireless 5-camera surveillance system in place. The sale includes all necessary equipment for immediate operation, eliminating the need for costly upfront investments. This comprehensive inventory includes an ice machine, bar coolers, a 4-keg kegerator, television, ATM, dart machine, pool table, jukebox, game machine, and a public address system. This is a low-cost entry point into the lucrative nightlife industry, offering a unique blend of classic charm and modern amenities. Don't miss this opportunity to own a piece of Syracuse history with a proven track record and a bright future.

Property profile

Verified
Property type Bars & Pubs
Use group BAR, TAVERN
Year built 1940
Total area 1,511 SF
Lot 0.12 ac (5,100 SF)
Zoning code 10
APN 311500 069.-06-02.0
UPID US63-3062523

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
  • Bank Loan Service
  • Bar & Pub

Location

363 Seneca Tpke Syracuse, NY 13207-2642
Syracuse metro Census 6000 SYRACUSE, NY METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$280k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$250k

Owner & transaction history

since 2016
Last sale
$235,000
1 recorded transaction
2016
$70,000

Zoning & alternative use

10 · Syracuse, NY

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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