For Sale
$6,000,000

411 University AveSyracuse, NY 13210

Syracuse, NY: 47 Units, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • Lot dimensions: 89' x 129', 11,481 SF lot size.
  • 77.3% lot coverage, with 100% maximum allowable.
  • 8,879 SF building footprint.
  • 88,790 GSF (includes parking).
  • 485-J Tax Abatement eligible.
  • Tax ID numbers: 48-11-12 and 48-11-13.

Property Details for 411 University Ave

Property type
Mixed-use properties, Hospitality properties
Square Feet
88,790 SF
Stories
9
Units
47

Location Insight

City
Syracuse
County
Onondaga
State
New York
Latitude
43.0457437
Longitude
-76.1339851
411 University Ave, Syracuse, New York

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411 University Ave
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