3229 Genesee StSyracuse, NY 13214

Property Details for 3229 Genesee St

Year built

1990

Lot size

3.44 AC

Property size (Sq ft)

22,988 SF

Zone code

27

Property type

Office buildings

APN

311500 038.-16-34.0

APU

31150003816340

Description

This exceptional 23,500-square-foot medical office building in Syracuse, New York, presents a unique investment opportunity. Located at 3229 E Genesee St, Syracuse, NY 13214, this Class B building sits on a substantial 149,500-square-foot lot and offers a single, spacious unit. Previously occupied by a fully functioning diabetes and dialysis center until July 31, 2023, the property boasts a large waiting area, numerous exam and dialysis rooms, a laboratory, ample practitioner offices, conference rooms, and nursing stations. The building's versatile layout allows for subdivision to accommodate various tenant needs, and the owners are open to leasing, sale, or partnership arrangements. Furthermore, the property generates additional income from a rooftop cell tower. Its convenient location offers easy access to downtown Syracuse, the eastern suburbs, and major highways. Excellent parking is available on-site. The owners are willing to consider renovations to meet specific tenant requirements. This property is ideal for owner-users or investors seeking a prime medical facility in a thriving location. The property is available immediately.

• CAP approach

  CAP return

  Valuation

  6%

  $4,207,130

  6.5%

  $3,883,510

  7%

  $3,606,110

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,100,140

  Geo Method

  $3,003,610

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $8,018,910

  Retail / Commercial

  $4,039,000

  Mixed-Use / Specialty

  $3,967,040

  Hospitality / Lodging

  $2,835,540

  Institutional / Educational

  $4,103,540

  Residential Income

  $4,801,150

  Multifamily

  $6,077,380

  Automotive / Energy

  $3,517,320

  Parking / Income-Based Land

  $1,270,660

  Restaurant / Food Service

  $1,940,430

  Healthcare / Senior Housing

  $4,127,150

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0437

Longitude

-76.0947

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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