8,016 SqFt
8,016 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,016 sqft
Price per Sqft $124
MLS Listing ID S1606806
Construction Status Existing
HOA Y/N No
Year Built 1986
Annual Tax Amount $7,795
Lot Size 1.950 Acres
Acres 1.95
Lot Dimensions 239X250
Property Description
This 8,016 square foot commercial property offers a stable, income-producing investment just shy of a 9% cap rate. The building is currently 100% leased to two tenants, providing strong, predictable cash flow.
Approximately 7,100 SF is leased to PEACE, Inc., a major regional non-profit serving over 10,000 clients throughout Central New York. PEACE, Inc. recently signed a 10-year lease (started in 2024) with built-in annual rent escalations and two 5-year extension options, allowing for up to 20 years of tenancy with scheduled increases — a highly attractive feature for long-term investors. This facility houses the federally funded Head Start Program that has been around since 1968.
The remaining 741 SF is leased to a reliable CPR training tenant who has maintained a long-term presence in the building and is on a month-to-month grossly below market rent.
In 2024, the landlord and PEACE, Inc. jointly invested over $500,000 into substantial improvements, including a near full interior remodel of the tenant's space, a repaved parking area, and all new entryway steps and ramps. Additionally, the tenant utilizes 1,500 SF of unfinished basement space for storage, adding functional value to the asset.
The landlord covers property taxes, insurance, landscaping, and snow removal, while tenants are responsible for utilities, trash removal, and basic repairs & maintenance — minimizing landlord obligations.
With strong tenancy, recent capital upgrades, and structured lease escalations, this property presents a rare chance to acquire a low-maintenance, high-yield asset backed by an established community organization.
Location
State NY
County Onondaga
Area Van Buren-315689
Zoning Com 1
Interior
Heating Gas, Forced Air
Cooling Central Air
Inclusions Land and Building
Fireplace No
Exterior
Utilities Available Water Connected
Roof Type Asphalt
Total Parking Spaces 35
Building
Lot Description Rectangular, Rectangular Lot
Story 2
Sewer Septic Tank
Water Public
Level or Stories Two
Construction Status Existing
Schools
School District Baldwinsville
Others
Tax ID 315689-034-000-0003-017-003-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/syr/S1606806