3125 Erie BlvdSyracuse, NY 13057

  • Retail properties
  • 6,000 SF
For Sale
$1,666,000 View listing

Property Details for 3125 Erie Blvd

Year built
1999
Lot size
0.56 AC
Property size (Sq ft)
6,000 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a 6,000 square foot, Class A storefront in East Syracuse, NY, fully occupied by a credit-rated FedEx under a Net Lease. The property, built in 1999 and completely renovated in 2023, boasts a strong 6.75% cap rate and a substantial remaining lease term of 8.5 years (expiring 05/31/2033, commencing 06/01/2023), with renewal options for 2-5 years. The single-tenant, NNN lease provides a stable income stream, further enhanced by rent bumps scheduled for years 6-10. Located at 3125 Erie Blvd E, the property sits on a 0.56-acre lot and includes 35 parking spaces, catering to both employees and customers. The building is situated in a high-traffic area within Onondaga County, benefiting from excellent demographics and a densely populated surrounding area. The property's strong financial performance is underscored by a current NOI of $112,456 and a price per square foot of $277.67. This is a 1031 exchange-eligible property, making it an attractive option for investors seeking tax advantages. The property is zoned for commercial use and comprises one, single-story building with two units. This investment offers a compelling blend of stability, strong cash flow, and significant growth potential.

3125 Erie Blvd, Syracuse, New York

Location Insight

City
Syracuse
County
Onondaga
State
New York
Latitude
43.056
Longitude
-76.0813

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