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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

Set in Syracuse’s Near West Side at the gateway to Downtown, 701 S Geddes Street offers the kind of location retailers and mixed-use investors actively seek: high visibility, strong daily traffic counts, and growing neighborhood momentum. Positioned just minutes from Burnet Park, an 88-acre destination park, and the Rosamond Gifford Zoo, the property also benefits from close proximity to Downtown’s Armory Square dining and entertainment district and cultural anchors like the Everson Museum of Art. The corridor is experiencing meaningful public and private reinvestment. The City’s new Syracuse Public Safety Complex on West Fayette Street is expected to be fully operational in 2026, bringing increased activity and stability to the area. In addition, planned “complete streets” improvements along South Geddes Street are designed to enhance roadway infrastructure, pedestrian access, and overall connectivity. Nearby, adaptive reuse residential projects are adding new housing units and contributing to neighborhood revitalization. With quick access to Destiny USA — one of the region’s largest retail and entertainment destinations — along with Downtown Syracuse and major transportation routes, this location presents a compelling opportunity to invest in a highly visible corridor positioned for continued growth and long-term appreciation.

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
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100

Nearby Major Retailers

Rent-A-Center
Starbucks
Chase
Premier Rental Purchase
Bank of America
Wegmans

Property Taxes

Property Taxes

Parcel Number
311500-097-000-0016-062-000-0000
Land Assessment
$101,500
Improvements Assessment
$48,500
Total Assessment
$150,000
  • Listing ID: 33082834

  • Date on Market: 9/6/2024

  • Last Updated:

  • Address: 701 S Geddes St, Syracuse, NY 13204

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