829 Genesee St Syracuse, NY 13204

This 9,800 square foot, Class B office building at 829-31 W. Genesee Street in Syracuse, NY, presents a compelling investment opportunity. Built in 1920 and renovated in 1980, the single-story building boasts a prominent location on a major commuting route, offering easy access to downtown Syracuse and major highways. Currently 25% occupied, the property features a long-term Verizon tower lease, generating significant income. 7,154 square feet of office space will become available Summer 2023. The interior is in excellent condition, recently updated with new carpet and paint (2022). The building includes a large conference room, nine private offices, a workroom, and multiple bathrooms. The space may be divisible to suit various tenant needs. On-site parking is available, with additional spaces for lease next door. The asking price is $1,550,000, representing a price per square foot of $158.16 and a pro-forma cap rate of 8.06%, with a pro-forma NOI of $125,000. The property's strong location, existing Verizon lease, and potential for increased occupancy through lease-up of vacant space offer significant upside potential for an investor or user. The building is owned by an LLC and consists of two units.