411 University Ave Syracuse, NY 13210
- Hotels
- 88,790 SF
Current Use by Public Records
- Hotels
Property Details for 411 University Ave
- Property size
- 88,790 SF
- Property type
- Hotels
- APN
- 48.-11-12/ 48.-11-13
Description
This exceptional mixed-use investment opportunity presents a nine-story building situated on two lots totaling 11,481 square feet at 411-413 University Avenue in Syracuse, New York. The property, zoned MX-4, boasts 88,790 gross square feet, including 8,879 net rentable square feet, and currently operates at 100% occupancy. The building comprises 47 units, offering a compelling blend of apartment and hotel functionality. With a building footprint of 8,879 square feet and a lot coverage of 77.3% (with a maximum allowable coverage of 100%), this property presents significant redevelopment potential. The property includes six parking spaces. The location in a burgeoning Syracuse University neighborhood makes it ideal for either continued operation as a mixed-use property or redevelopment into a larger-scale hotel or residential complex. The property's tax IDs are 48-11-12 and 48-11-13, and it is eligible for the 485-J Tax Abatement. The asking price for this prime Syracuse real estate is $6,000,000. This is a rare chance to acquire a high-performing asset with substantial upside in a dynamic urban setting. The lot dimensions are approximately 89 feet by 129 feet.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Syracuse
- County
- Onondaga
- State
- New York
- Longitude
- -76.1339851
- Latitude
- 43.0457437
