- Photos
- 1 of 20
Specialty Condo For Sale • 10,717 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 1st Floor - Unit Gymnasium | Flex | 10,717 SF | $825,000 USD | |
DescriptionSt. Matthew’s Gymnasium offers a rare investment opportunity in East Syracuse. This 10,717 SF facility is fully leased on a NNN basis to a well-established nonprofit organization. The tenant has three (3) years remaining on their base term, with a five-year renewal option in place, providing stable cash flow and long-term security. The property features recently installed life-safety upgrades, including a new sprinkler and fire alarm system. Interior improvements include both boys’ and girls’ locker rooms, multiple storage rooms, and a built-in stage, supporting a wide variety of athletic and community uses. Annual operating expenses are efficient, with estimated HOA dues of $3,252.30 and annual real estate taxes of $2,655.66. This investment combines a strong nonprofit tenant, updated building systems, and unique amenities in a desirable location. |
||||
St. Matthew’s Gymnasium offers a rare investment opportunity in East Syracuse. This 10,717 SF facility is fully leased on a NNN basis to a well-established nonprofit organization. The tenant has three (3) years remaining on their base term, with a five-year renewal option in place, providing stable cash flow and long-term security. The property features recently installed life-safety upgrades, including a new sprinkler and fire alarm system. Interior improvements include both boys’ and girls’ locker rooms, multiple storage rooms, and a built-in stage, supporting a wide variety of athletic and community uses. Annual operating expenses are efficient, with estimated HOA dues of $3,252.30 and annual real estate taxes of $2,655.66. This investment combines a strong nonprofit tenant, updated building systems, and unique amenities in a desirable location. The gymnasium is part of the former St. Matthew's Elementary School and now part of the St. Matthew's Condominium Association. Full condo offering documents will be made available during due diligence.
| Fully Leased NNN Structure |
| Recent Building Upgrades - Sprinkler & Fire Alarm all NEW! |
| Cap Rate: | 8.00 % |
| Total Expenses: | $0 USD |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Legacy Foundation of CNY | 10,717 SF |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Syracuse Regional Transportation Center (Empire Service - Amtrak, Lake Shore Limited - Amtrak, Maple Leaf - Amtrak) | 11 min | - | 6.5 mi |
| Syracuse (Toronto - New York - VIA Rail) | 12 min | - | 6.5 mi |
| Airport | Drive | Walk | Distance |
| Syracuse Hancock International | 16 min | - | 8.4 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Type: | Surface |
| Included in Rent: | Yes |
