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3125 Erie Blvd E

6,000 SF Retail Building East Syracuse, NY 13057 $1,650,000 ($275/SF) 6.89% Cap Rate

Investment Highlights

  • FedEx Corporation (S&P:BBB) Lease Guarantee
  • Two – Five Year Renewal Options
  • 25 Years of Occupancy with Approximately Nine Years Remaining on NNN Lease
  • Year Built 1999 with a Complete Renovation in 2023

Executive Summary

Prime Investment opportunity with FedEx/Corporate Guarantee. Complete renovation of the property in 2022-23 for FedEx which has been the tenant for approximately 25 years. Recent 4th extension for 10 years with two 5 year renewal options.

Attachments

FedEx Flyer

Property Facts

Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,000 SF
Building Class
B
Year Built/Renovated
1999/2022
Price
$1,650,000
Price Per SF
$275
Cap Rate
6.89%
NOI
$113,621
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.56 AC
Zoning
05 - Commercial
Parking
29 Spaces (8.33 Spaces per 1,000 SF Leased)
Frontage
200 FT on Erie Blvd

Amenities

  • Bus Line
  • Pylon Sign

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Services
  • 6,000 SF
  • -
  • Triple Net
  • Dec 2032

The FedEx strategy to compete collectively, operate collaboratively and innovate digitally provides a competitive advantage for their company. FedEx's broad portfolio of services allows them to meet the needs of their customers, most of whom use services from several of their operating companies. FedEx has grown tremendously since its first night of operations. FedEx Express, FedEx Ground, FedEx Freight and FedEx Services show segment revenue. Other and eliminations includes revenue from FedEx Logistics, FedEx Office and FedEx Dataworks (including ShopRunner, Inc.). For decades, FedEx has been innovating to deliver more for their clients, strengthening supply chains with their global network. They are simplifying logistics, enhancing tracking and visibility, and using data from every journey to make the experience of their clients better.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Services 6,000 SF - Triple Net Dec 2032

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 3,000 SF
  • Retail
  • End Cap
  • Now

FedEx is downsizing in this freestanding building, offering 3,000 SF of retail space ready for a new tenant! There is ample parking available, as well as great frontage and a pylon sign.

Space Size Space Use Position Available
1st Floor 3,000 SF Retail End Cap Now

1st Floor

Size
3,000 SF
Space Use
Retail
Position
End Cap
Available
Now

1st Floor

Size 3,000 SF
Space Use Retail
Position End Cap
Available Now

FedEx is downsizing in this freestanding building, offering 3,000 SF of retail space ready for a new tenant! There is ample parking available, as well as great frontage and a pylon sign.

Nearby Major Retailers

Cross Fit Syracuse
Olive Garden Italian Kitchen
Sky Zone
Five Guys
Texas Roadhouse
Orangetheory Fitness
Crunch
KeyBank
My Gym
Community Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
312601-009-000-0008-006-000-0000
Land Assessment
$150,000
Improvements Assessment
$895,000
Total Assessment
$1,045,000
  • Listing ID: 33270890

  • Date on Market: 9/23/2024

  • Last Updated:

  • Address: 3125 Erie Blvd E, East Syracuse, NY 13057

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