1004 Adams StSyracuse, NY 13210

Property Details for 1004 Adams St

Year built

1970

Lot size

0.37 AC

Property size (Sq ft)

13,492 SF

Zone code

10

Property type

Banks

APN

311500 049.-08-01.0

APU

31150004908010

Description

This exceptional 9,018-square-foot retail storefront presents a unique investment opportunity in Syracuse, NY. Located in the vibrant University Hill neighborhood, this two-story building sits on a 0.46-acre lot and boasts 20 dedicated parking spaces. Its strategic position between Marshall Street and East Genesee Street places it within easy reach of Syracuse University (over 21,000 students and 5,000 employees) and SUNY Upstate Medical University & Health System (over 9,500 employees). The property benefits from high foot traffic, proximity to numerous shops and restaurants on Marshall Street, and convenient access to I-81. The building is zoned MX-4: Urban Core (effective July 3, 2023), offering flexibility for a variety of commercial uses. This former bank branch provides a solid foundation for redevelopment, capitalizing on the area's strong demographics and high demand. The property offers excellent visibility and accessibility via E Adams Street and S Crouse Avenue. Asking price is $3,500,000. This is a rare chance to acquire a substantial retail property in a thriving university setting.

• CAP approach

  CAP return

  Valuation

  6%

  $2,568,100

  6.5%

  $2,370,550

  7%

  $2,201,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,281,910

  Geo Method

  $1,833,380

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,706,420

  Mixed-Use / Specialty

  $2,328,310

  Hospitality / Lodging

  $1,664,220

  Office

  $2,279,290

  Institutional / Educational

  $2,408,430

  Residential Income

  $2,817,860

  Multifamily

  $3,566,900

  Automotive / Energy

  $2,064,370

  Parking / Income-Based Land

  $745,770

  Restaurant / Food Service

  $1,138,870

  Healthcare / Senior Housing

  $2,422,290

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0424

Longitude

-76.136

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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