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31479255
31479265

246 Kinne St, East Syracuse, NY 13057

KC
10301220858
Hunt Real Estate
Listed by Hunt Real Estate
$325,000
62 days on market
Updated 62 days ago

246 Kinne St.

Details
Property Type Retail
Sub Type Convenience Store, Storefront
Square Footage 2,500
Cap Rate 7.00%
NOI $32,520
Tenancy Multi
Lease Type Net
Lease Expiration 04/01/2028
Remaining Term 1.8
Price per SqFt $130
Year Built 1970
Buildings 1
Stories 1
Acreage 0.370

Fully leased| 2,500 SF corner commercial building| 2 long-term | 7% cap

Marketing description

Positioned on a high-visibility corner in the Village of East Syracuse, this 2,500 sq ft mixed-use commercial building offers a strong, stable investment opportunity with long-term tenancy already in place. The property is fully occupied by two established businesses—a neighborhood minimart and a hair salon—both of which have been reliable, long-term tenants. The salon has operated here since the building was originally constructed, and both tenants are current on rent, providing immediate and consistent cash flow from day one. Located at the corner of James Street and Kinne Street, the property benefits from excellent exposure, steady traffic, and strong walkability, with public transportation conveniently located right on the block. Large parking lot can accomodate 10-14 cars and there is abundant street parking as well. Current rents total $2,710/month ($32,520 annually), with tenants responsible for their own utilities, helping keep operating costs predictable. At the current asking price, the property operates at approximately a 7% cap rate based on current income and expenses. This is an ideal opportunity for investors seeking a low-maintenance property with dependable income and long-term upside in a well-established East Syracuse location.

Listing Contacts

KC
10301220858
Hunt Real Estate
Listed by Hunt Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$32,520.00
$2,710.00/mo

Valuation Metrics

0
DSCR
10.01%
Cap Rate
10.01%
ROI

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