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405 Pond St
Syracuse, NY 13208
Retail Property For Sale
Executive Summary
Investor opportunity with strong in-place income and additional upside. 405 Pond Street is a mixed-use propertyfeaturing a 2,300 SF grocery store plus three residential apartments above. Current income includes a long-termgrocery tenant paying $1,600/month, one apartment at $1,300/month, one apartment at $800/month, and avacant top-floor apartment previously rented for $1,300/month. Recent capital improvements include a new roofand three new boilers. Tenants pay their own utilities, with the owner responsible for water/sewer. Sale alsoincludes 403 Pond Street, providing valuable off-street parking for approximately 10 vehicles. This is a strongcash-flowing asset with value-add potential through leasing the vacant apartment and optimizing rents.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,000 SF
Building Class
C
Year Built
1940
Price
$359,000
Price Per SF
$179.50
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.33
Lot Size
0.14 AC
Zoning
010
Parking
8 Spaces (4 Spaces per 1,000 SF Leased)
Frontage
33’ on Pond St
Property Taxes
| Parcel Numbers | Improvements Assessment | $157,200 | |
| Land Assessment | $16,400 | Total Assessment | $173,600 |
Property Taxes
Parcel Numbers
Land Assessment
$16,400
Improvements Assessment
$157,200
Total Assessment
$173,600
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