Listed by O' Connell More Consulting & Real Estate
$1,550,000
829-31 W. Genesee Street
Details
Property Type Office
Sub Type Traditional Office
Square Footage 9,800
Units 2
Occupancy 25%
Pro-Forma Cap Rate 8.06%
Pro-Forma NOI $125,000
Price per SqFt $158
Class B
Year Built 1920
Year Renovated 1980
Buildings 1
Stories 1
Investment Type Value Add
Ownership LLC
Office | 9,800 SF
Marketing description
Highly visible office building on major commuting route, minutes to downtown Syracuse and highways. Long term Verizon tower on premises. 7,154 sf of office space available Summer, 2023. Interior is in excellent condition with new carpet and paint in 2022. Seller has continued to make improvements to building on a regular basis. Large conference room, nine private offices, workroom and multiple bathrooms. May be possible to divide space. Excellent location for an investor/user. Onsite parking with available of additional spaces next door to lease.
Investment highlights
Upside potential with NNN lease
Long term Verizon lease
Maybe possible to take back some of Verizon space for higher lease rate
Listing Contacts
Listed by O' Connell More Consulting & Real Estate
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Zoning
CM CommercialGeneral CommercialCommercial
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