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701 S Geddes St 38,552 SF 100% Leased Retail Building Syracuse, NY 13204 $1,495,000 ($38.78/SF) 7.38% Cap Rate
INVESTMENT HIGHLIGHTS
- Multi-tenant building with eleven successful retail tenants
- Second floor offers development potential for additional space
- Situated on a .53-acre parcel, providing ample space for retail activities
- Historic 38,552 SF two-story structure built in 1920
- Prime corner location at a traffic light intersection
- Highly visible location ideal for retail and street retail businesses
EXECUTIVE SUMMARY
Introducing 701 South Geddes Street, a prime investment opportunity in the heart of Greater Syracuse. This impressive 38,552 SF multi-tenant building boasts a rich history, having been meticulously constructed in 1920 and now home to eleven thriving retail tenants. Offering exceptional visibility at a key intersection with a traffic light, the property occupies a .53-acre parcel and presents an ideal location for retail and street retail investors. With potential for development on the second floor, this corner gem promises a world of possibilities for astute investors seeking a coveted slice of Syracuse's vibrant retail landscape.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
38,552 SF
Building Class
C
Year Built
1920
Price
$1,495,000
Price Per SF
$38.78
Cap Rate
7.38%
NOI
$110,331
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
14’
Building FAR
1.67
Lot Size
0.53 AC
Opportunity Zone
Yes
Zoning
10
Parking
25 Spaces (0.65 Spaces per 1,000 SF Leased)
Frontage
142’ on Geddes St
AMENITIES
- Bus Line
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 311500-097-000-0016-062-000-0000 | Improvements Assessment | $48,500 |
| Land Assessment | $101,500 | Total Assessment | $150,000 |
PROPERTY TAXES
Parcel Number
311500-097-000-0016-062-000-0000
Land Assessment
$101,500
Improvements Assessment
$48,500
Total Assessment
$150,000
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701 S Geddes St
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