512 Onondaga StSyracuse, NY 13204

Property Details for 512 Onondaga St

Year built

1999

Lot size

1.40 AC

Property size (Sq ft)

11,186 SF

Zone code

10

Property type

Retail properties

Property subtype

Community centers

APN

311500 096.-14-10.1

APU

31150009614101

Description

This exceptional 11,348-square-foot former Rite Aid building presents a unique investment opportunity in Syracuse, NY. Located at 512 W Onondaga St, this single-story, 1999-built structure sits on a 1.4-acre lot, offering significant frontage and access on both W Onondaga Street and Slocum Avenue. The property boasts approximately 71 parking spaces and a two-lane drive-thru, a highly desirable feature for various retail uses. The permitted zoning, MX-2, Neighborhood Commercial, allows for a range of potential conversions. The asking price is $1,295,000, translating to $114.12 per square foot. This well-located vacant building offers substantial potential for an investor or end-user seeking a prime retail space in a high-traffic area of Syracuse. The property's size, location, and existing infrastructure make it an attractive proposition for redevelopment or repurposing. The APN is 096.14-10.1. This is a sale by owner opportunity. The property is in Onondaga County, NY, zip code 13204.

• CAP approach

  CAP return

  Valuation

  6%

  $2,655,337

  6.5%

  $2,451,080

  7%

  $2,276,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,575,270

  Geo Method

  $3,683,138

• Alternative Use

  Use

  Valuation

  Residential

  $2,067,578

  Hospitality

  $1,893,890

  Educational

  $1,575,694

  Medical

  $1,629,885

  Retail

  $2,451,080

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0399

Longitude

-76.1594

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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