701 Geddes StSyracuse, NY 13204

For Sale
$1,500,000

High-yield multi-tenant retail building

Overview

Added:
Dec 11, 2024
Days on market:
96
This exceptional mixed-use investment property, located at 701 S Geddes St in Syracuse, NY, presents a compelling opportunity. The 38,552 square foot building, constructed in 1920 and renovated in 2022, sits on a 0.53-acre lot and boasts eleven thriving retail tenants. Its prime corner location at a traffic-controlled intersection ensures high visibility. The property offers a strong 7.36% cap rate with a current NOI of $110,400 and an asking price of $1,500,000 ($38.91/sq ft). The building is classified as a Class B, two-story structure with significant upside potential. The second floor presents a unique opportunity for expansion or redevelopment, adding further value to this already impressive investment. This multi-tenant building, with its established tenancy and prime location in Onondaga County (APN: 097.-16-62.0), is an ideal acquisition for investors seeking a strong return in a vibrant market. The property's history and current success combine to create a rare opportunity in Syracuse's retail landscape.

Highlights

  • Multi-tenant building with eleven thriving retail tenants.
  • Historic 38,552 SF, two-story building, constructed in 1920, renovated in 2022.
  • Second-floor offers significant redevelopment potential.
  • Prime corner location at a signalized intersection.
  • .53-acre lot in a high-visibility location.
  • Strong 7.36% cap rate, $110,400 NOI, $1,500,000 asking price ($38.91/SF).

Property Details for 701 Geddes St

Property type
Other retail properties, Individual retail properties
Square Feet
38,552 SF
Class
B
Year Built/Renovated
1920/2022
Buildings
1
Stories
2
Lot Size (sq. ft)
23,087 SF

Location Insight

City
Syracuse
County
Onondaga
State
New York
Latitude
43.0408618
Longitude
-76.1717012
701 Geddes St, Syracuse, New York

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701 Geddes St
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