647 Genesee StSyracuse, NY 13204

Property Details for 647 Genesee St

Year built

1940

Lot size

1.45 AC

Property size (Sq ft)

37,170 SF

Zone code

05 - COMMERCIAL

Property type

Automotive properties

APN

311500 106.-12-01.2

APU

31150010612012

Description

This exceptional commercial property, a former Lowery Jeep Dealership, presents a unique investment opportunity in Syracuse, NY. The expansive 37,170+/- square foot building sits on a 1.45+/- acre corner lot boasting excellent visibility on Syracuse's historic Automobile Row. The property features 800 amp power, four existing drive-in overhead doors, and impressive ceiling heights ranging from 11.5' to 19'. The layout includes a showroom, a large service department, a parts department, and a body shop area, offering significant flexibility for various commercial and industrial uses. The "CM" Commercial zoning allows for a wide range of possibilities, including the continuation of automotive-related businesses. Its strategic location provides easy access to I-690 and other major interstates. An additional 0.75+/- acre parcel across West Genesee Street is also available separately. This property is ideally suited for businesses seeking a high-profile location with ample space and robust infrastructure. The asking price is $1,990,000. This is a rare opportunity to acquire a substantial property in a highly desirable location with significant upside potential. The address is 647 W Genesee St, Syracuse, NY 13204. The property is located within the Motor Vehicle Sales Overlay District of the City of Syracuse.

• CAP approach

  CAP return

  Valuation

  6%

  $7,075,020

  6.5%

  $6,530,790

  7%

  $6,064,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,531,620

  Geo Method

  $5,050,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $12,966,000

  Mixed-Use / Specialty

  $6,414,420

  Hospitality / Lodging

  $4,584,870

  Office

  $6,279,360

  Institutional / Educational

  $6,635,140

  Residential Income

  $7,763,120

  Multifamily

  $9,826,700

  Automotive / Energy

  $5,687,270

  Parking / Income-Based Land

  $2,054,570

  Restaurant / Food Service

  $3,137,540

  Healthcare / Senior Housing

  $6,673,320

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.053

Longitude

-76.1624

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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