210 Hamilton StSyracuse, NY 13204

Property Details for 210 Hamilton St

Year built

2024

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 1,625 square-foot Starbucks located at 210 Hamilton St, Syracuse, NY 13204. Built in 2024, this drive-thru and pickup-only store represents the latest in QSR coffee retail design. The property boasts a strong 10-year net lease with a credit-rated, corporate-guaranteed tenant (Starbucks, rated BBB+ by S&P), commencing June 1, 2024, and expiring June 30, 2034. The lease includes four 5-year renewal options, with a 10% rent increase every five years. The property generates a Net Operating Income (NOI) of $120,000, resulting in a 5.00% cap rate. Situated on Route 5 (45,579 vehicles per day) with convenient access to I-81 (94,887 vehicles per day), this location benefits from high visibility and significant traffic volume. The property also features 22 parking spaces and is only 2.5 miles from the Syracuse University campus. This is a rare chance to acquire a well-located, high-performing asset with a secure, long-term lease from a globally recognized brand. Asking price is $2,400,000. 100% occupancy.

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0517

Longitude

-76.1842

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