363 Seneca TpkeSyracuse, NY 13207

Property Details for 363 Seneca Tpke

Year built

1940

Lot size

0.12 AC

Property size (Sq ft)

1,511 SF

Zone code

10

Property type

Retail properties

Property subtype

Bars

APN

311500 069.-06-02.0

APU

31150006906020

Description

This exceptional turnkey bar opportunity presents a rare chance to acquire a thriving business in Syracuse, NY's vibrant downtown. Located within the historic Bank of Onondaga building at 363 W Seneca Tpke, this 3,022 square foot establishment boasts a rich history of success, having operated as The Night Drop for the past nine years, and previously as The Remedy for forty years. This impressive 50+ year track record speaks volumes about the location's enduring appeal. The property sits on a 0.12-acre lot and is offered at $259,000. Significant recent improvements enhance both functionality and longevity. These include a complete overhaul of the electrical and plumbing systems, a new furnace, air conditioning unit, and a fully updated HVAC vent system. Half of the roof has been recently replaced, ensuring long-term structural integrity. Security is a key feature, with a robust hardwired and wireless 5-camera surveillance system in place. The sale includes all necessary equipment for immediate operation, eliminating the need for costly upfront investments. This comprehensive inventory includes an ice machine, bar coolers, a 4-keg kegerator, television, ATM, dart machine, pool table, jukebox, game machine, and a public address system. This is a low-cost entry point into the lucrative nightlife industry, offering a unique blend of classic charm and modern amenities. Don't miss this opportunity to own a piece of Syracuse history with a proven track record and a bright future.

• CAP approach

  CAP return

  Valuation

  6%

  $358,682

  6.5%

  $331,091

  7%

  $307,442

• Comparable approach

  Method

  Valuation

  Relative Method

  $347,866

  Geo Method

  $497,517

• Alternative Use

  Use

  Valuation

  Residential

  $279,288

  Hospitality

  $255,826

  Educational

  $212,844

  Medical

  $220,164

  Retail

  $331,091

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.0017

Longitude

-76.1527

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].