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    Property profile & analytics

    3902 S Salina St Syracuse, NY 13205

    • Investment properties
    • 6,432 SF
    • 0.43 lot acres
    For Sale
    View listing
    Last Sale
    Sep 01, 2021
    $370,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0543322
    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

    • Investment properties

    Property Details for 3902 S Salina St

    Year built
    1978
    Lot size
    0.43 lot acres
    Property size
    6,432 SF
    Zone code
    11
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    311500 072.-14-05.0
    APU
    31150007214050

    Description

    This 6,426 square foot vacant storefront, formerly occupied by Aaron's, presents a compelling investment opportunity in Syracuse, New York. Located at 3902 S Salina St, this property sits on a 0.58-acre lot and boasts a prominent position along US Highway 11, enjoying high visibility with exposure to over 7,000 vehicles daily. The asking price is $576,323, translating to $89.69 per square foot. The property offers a strong net operating income (NOI) of $42,240, resulting in an attractive 7.33% capitalization rate. While currently vacant, Aaron's will continue to pay rent for the remainder of their 3.7-year lease term. The property benefits from a strong retail environment, with nearby businesses including Family Dollar, Dunkin' Donuts, Walgreens, Burger King, Little Caesars Pizza, AutoZone, and Dollar General. This location offers excellent potential for a variety of retail uses, capitalizing on the high traffic counts and established commercial presence. The property is classified as a retail storefront and is situated in Onondaga County, New York, with a zip code of 13205. This is a rare opportunity to acquire a well-located, income-producing retail property in a thriving commercial area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $540,000
      ML approach
      $495,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $890,000
      7%
      $825,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $742,000
      Market price range: $249k - $743k
      AI Estimate
      $712,000
      Market price range: $289k - $712k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $490,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $690,000
      Change: +40% Conversion: Difficult
      OFFICE BUILDING
      $640,000
      Change: +30% Conversion: Easy
      RESTAURANT
      $625,000
      Change: +28% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $490,000
      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
    -76.1426
    Latitude
    43.0104
    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
    $150,000
    $250,000
    $400,000
    -
    $232,558
    $387,597
    $620,155

    Comparable in this City

    • Value Estimation
      $230,000
      1,288 SF

      1508 Salina S Furman St

      STORE/OFFICE (MIXED USE) • 1,288 SF
      1508 Salina S Furman St, Syracuse, NY 13205
      View Details
    • Value Estimation
      $275,000
      6,920 SF

      1909 Salina St

      STORE/OFFICE (MIXED USE) • 6,920 SF
      1909 Salina St, Syracuse, NY 13205-1364
      View Details
    • Value Estimation
      $220,000
      1,200 SF

      4313 Salina St, Unit 17

      STORE/OFFICE (MIXED USE) • 1,200 SF
      4313 Salina St, Syracuse, NY 13205-2064
      View Details
    • Value Estimation
      $240,000
      1,440 SF

      700 Midland Ave, Unit 6

      STORE/OFFICE (MIXED USE) • 1,440 SF
      700 Midland Ave, Syracuse, NY 13205-1048
      View Details
    • Value Estimation
      $230,000
      1,600 SF

      890 Brighton Ave

      STORE/OFFICE (MIXED USE) • 1,600 SF
      890 Brighton Ave, Syracuse, NY 13205-2538
      View Details
    • Value Estimation
      $315,000
      2,584 SF

      180 Intrepid Ln

      STORE/OFFICE (MIXED USE) • 2,584 SF
      180 Intrepid Ln, Syracuse, NY 13205-2545
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,426 SF

      Syracuse Retail Property Investment

      6,426 sq ft retail building, soon vacant, high traffic location.
      3902 S Salina St, Syracuse, NY 13205
      View Details
    • $750,000
      0.55 Acres

      Syracuse Corner Lot & Business

      Turnkey Ice Cream Shop, Redevelopment Potential
      210 Seneca Tpke, Syracuse, NY 13205
      View Details
    • $145,000

      Three-Unit Multifamily Property Available

      Three-unit property with steady income potential for investors or owner-occupants.
      2401 Midland Ave, Syracuse, NY 13205
      View Details
    • $249,900
      2,562 SF

      S Salina St Office Building

      Office building on a major commercial thoroughfare, great investment.
      4709 S Salina St, Syracuse, NY 13205
      View Details
    • Contact for pricing
      2,388 SF

      Syracuse Two-Family Renovation Opportunity

      Two-family property in Syracuse, NY, needing major renovation.
      244 Garfield Ave, Syracuse, NY 13205
      View Details
    • New
      $299,000
      3,961 SF

      Spacious Income-Producing 9-Bedroom Home

      Versatile 9-bedroom home, ideal for residential or income use.
      1039 Midland Ave, Syracuse, NY 13205
      View Details
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    Syracuse, NY 13205
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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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