Herald Commons 220 Herald Pl

27 Unit Apartment Building $12,000,000 ($444,444/Unit) 7% Cap Rate Syracuse, NY 13202

Apartment Buildings New York Syracuse 220 Herald Pl, Syracuse, NY 13202

INVESTMENT HIGHLIGHTS

  • Heavy daytime foot traffic
  • Open plan with exposed brick walls
  • Walking distant to Armory Square
  • Lots of natural light
  • 5,000 sf Restaurant on first floor

EXECUTIVE SUMMARY

27 Market rate apartments with 17,000sf of retail and 1/2 acre parking lot
Full set of approved right to build plans, 20 story 240 unit apartment building

PROPERTY FACTS

Price $12,000,000
Price Per Unit $444,444
Sale Type Investment
Cap Rate 7%
Sale Conditions
1031 Exchange
  • Sale Leaseback
No. Units 27
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Apartment Style Mid Rise
Building Class B
Lot Size 0.41 AC
Building Size 65,536 SF
Average Occupancy 93%
No. Stories 4
Year Built/Renovated 2000/2016
Parking Ratio 1.97/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

UNIT AMENITIES

  • Granite Countertops
  • Refrigerator
  • Range
  • Tub/Shower
  • Views

SITE AMENITIES

  • 24 Hour Access
  • Controlled Access
  • Fitness Center
  • Basketball Court
  • Conference Rooms
  • Elevator

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 2 $1,700 1,250
2+2 25 $2,600 1,230 - 1,555
1 of 1
Walk Score®
Very Walkable (83)

ZONING

Zoning Code 015

CONTACT

  • Listing ID: 33364210

  • Date on Market: 10/1/2024

  • Last Updated:

  • Address: 220 Herald Pl, Syracuse, NY 13202

The Downtown Syracuse Multifamily Property at 220 Herald Pl, Syracuse, NY 13202 is currently available. Contact Horn Companies for more information.

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