701 Geddes StSyracuse, NY 13204

Property Details for 701 Geddes St

Year built

1920

Lot size

0.53 AC

Property size (Sq ft)

31,480 SF

Zone code

10

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

311500 097.-16-62.0

APU

31150009716620

Description

701 South Geddes Street in Syracuse, NY presents a compelling investment opportunity. This 44,680 square foot general commercial building sits on a 0.53-acre lot at a key, signalized intersection, ensuring high visibility and accessibility. Constructed in 1920, the building currently houses eleven thriving retail tenants, demonstrating strong existing income potential. The property's prominent location makes it ideal for retail and street retail investors seeking a well-established presence in a bustling area of Greater Syracuse. The building offers 38,552 square feet of leasable space, currently occupied by multiple tenants. The property's substantial size and location offer significant upside potential. The existing structure provides a solid foundation for continued rental income, while the potential for development on the second floor presents an exciting avenue for future expansion and increased profitability. This corner property represents a rare chance to acquire a well-established, income-generating asset in a desirable Syracuse location with significant growth potential. The asking price is $1,500,000.

• CAP approach

  CAP return

  Valuation

  6%

  $5,083,492

  6.5%

  $4,692,455

  7%

  $4,357,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,875,956

  Geo Method

  $4,113,177

• Alternative Use

  Use

  Valuation

  Residential

  $5,818,644

  Hospitality

  $5,329,846

  Educational

  $4,434,370

  Medical

  $4,586,874

  Retail

  $6,897,908

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0407

Longitude

-76.1716

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].