405 Pond Street, Syracuse, NY 13208

Property Description

Investor opportunity with strong in-place income and additional upside. 405 Pond Street is a mixed-use property featuring a 2,300 SF grocery store plus three residential apartments above. Current income includes a long-term grocery tenant paying $1,600/month, one at $1,300/month, one apartment at $800/month, and a vacant top-floor apartment previously rented for $1,300/month. Gross monthly rent $4,000. Recent capital improvements include a new roof and three new boilers. Tenants pay their own utilities, with the owner responsible for water/sewer. Sale also includes 403 Pond Street, providing valuable off-street parking for approximately 10 vehicles. This is a strong cash-flowing asset with value-add potential through leasing the vacant apartment and optimizing rents.