1113 Fayette StSyracuse, NY 13210

Property Details for 1113 Fayette St

Year built

1950

Lot size

0.20 AC

Property size (Sq ft)

4,136 SF

Zone code

10

Property type

Investment properties

Property subtype

Retail residential properties

APN

311500 030.-22-08.1

APU

31150003022081

Description

This exceptional business opportunity in Syracuse, NY, presents a unique chance to acquire a thriving established restaurant and rental income property. Located at 1113 E Fayette St, this property boasts a total of 6,204 square feet on a generous 8,712 square foot lot. The building, constructed in 1950, is a two-story structure. The ground floor comprises a 2,068 square foot authentic Chengdu restaurant, complete with all existing inventory included in the asking price of $180,000. Adding to the investment potential, a three-bedroom, one-bathroom apartment occupies the second floor, providing additional rental income. This property is ideally situated in a commercial area near Syracuse University, offering high visibility and convenient access to a large customer base. The sale includes the business only

• CAP approach

  CAP return

  Valuation

  6%

  $828,189

  6.5%

  $764,483

  7%

  $709,877

• Comparable approach

  Method

  Valuation

  Relative Method

  $585,679

  Geo Method

  $837,635

• Alternative Use

  Use

  Valuation

  Residential

  $764,483

  Hospitality

  $700,262

  Educational

  $582,610

  Medical

  $602,647

  Retail

  $906,282

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0487

Longitude

-76.1334

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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