6596 Old Collamer RdEast Syracuse, NY 13057

Property Details for 6596 Old Collamer Rd

Year built

1850

Lot size

0.46 AC

Property size (Sq ft)

2,373 SF

Zone code

06 - INDUSTRIAL

Property type

Investment properties

Property subtype

Retail residential properties

APN

312689 025.-04-16.1

APU

31268902504161

Description

This exceptional 2,373 square foot mixed-use property, located at 6596 Old Collamer Rd in East Syracuse, NY 13057, presents a unique investment opportunity. Previously operating as a restaurant, this vacant building offers versatile space ideal for a bar, restaurant, storefront, or office use. Situated on a 0.46-acre lot, the two-story building (built in 1970) boasts new electrical service, plumbing, furnace, A/C, and lighting. An attractive new outdoor patio and walkway have also been recently installed. The property is conveniently located near the NYS Thruway, Routes 481 and 690, and surrounded by other restaurants and hotels, ensuring high visibility and accessibility. With approximately 20 available parking spots, this property is ready for immediate occupancy (February 3, 2023). The asking price is $295,000 ($124.32/sq ft), and owner financing may be available. The property is zoned commercial and features one unit within a single building. Tenant improvements may be offered by the seller for a suitable lease agreement. This is an excellent opportunity for an owner-user seeking a net lease arrangement. The property's APN is 025.-04-16.1.

• CAP approach

  CAP return

  Valuation

  6%

  $475,168

  6.5%

  $438,616

  7%

  $407,287

• Comparable approach

  Method

  Valuation

  Relative Method

  $336,029

  Geo Method

  $480,587

• Alternative Use

  Use

  Valuation

  Residential

  $438,616

  Hospitality

  $401,770

  Educational

  $334,268

  Medical

  $345,764

  Retail

  $519,973

Location Insight

City

East Syracuse

County

Onondaga

State

New York

Latitude

43.0904

Longitude

-76.0854

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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