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506 E Washington St
Syracuse, NY 13202 Downtown Syracuse

$1,100,000 USD

Medical For Sale  •  8,300 SF

Property Details

  • Property Type Medical
  • Total Building Size 8,300 SF
  • Lot Size 0.6 AC
  • Building Class B
  • Year Built 1960
  • Cap Rate 7.55 %
  • Tenancy Multiple
  • Zoning Commercial
60 Transit Score
70 Walk Score

Highlights

Prime Downtown Syracuse Location with on-site parking
100% Leased Renovated Office Building
32-space on-site parking lot allows for additional revenue
Desirable MX-5 Zoning would allow for a sizable future redevelopment project on the .6 acre site
Convenient location to Courthouses and Syracuse University

Property Flyers

Financial Summary (Proforma)

Net Operating Income: $83,000 USD (2027)
Cap Rate: 7.55 %
Total Expenses: $50,000 USD

Major Tenants

Tenant SF Occupied Lease End Date
On Transit, Inc. 1,674 SF
Orthopedic Appliances
The Marrone Law Firm, P.C.

Amenities

  • Bus Line
  • Signage

Public Transportation

Commuter RailDriveWalkDistance
Syracuse Regional Transportation Center (Empire Service - Amtrak, Lake Shore Limited - Amtrak, Maple Leaf - Amtrak) 5 min - 2.6 mi
AirportDriveWalkDistance
Syracuse Hancock International 12 min - 7.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 32
Type: Surface
Included in Rent: Yes
Martin McDermott 315-427-5737 JF Real Estate
Martin McDermott 315-427-5737 JF Real Estate