Syracuse, New York, is a prime location for investing in Retail Properties, with a population of approximately 150,000 and a metropolitan area of 662,000. The city's diverse neighborhoods, rich history, and strong educational institutions make it an attractive place for businesses to thrive. Retail Properties in Syracuse offer a unique opportunity for investors to tap into the city's growing economy, with a range of options available to suit different investment strategies. From shopping centers to restaurants, Retail Properties in Syracuse provide a chance to capitalize on the city's strong retail market. With amenities like the State University of New York Upstate Medical University, St. Joseph's Health, and the Onondaga Park, Syracuse offers a high quality of life, making it an attractive location for businesses and residents alike. The city's infrastructure, including the Department of Public Works and the Syracuse water system, ensures that businesses have access to the resources they need to succeed. Additionally, Syracuse's location at the intersection of Interstates 81 and 90 makes it a significant transportation crossroads, providing easy access to major markets.
Syracuse's Retail Properties are just one of the many investment opportunities available in the city. With 25 Retail Properties for sale, investors have a range of options to choose from. The average price per square foot for Retail Properties in Syracuse is $246 USD, with an average size of 28,717 square feet. The largest Retail Property available is 379,033 square feet, offering ample space for businesses to grow. In addition to Retail Properties, Syracuse also offers Shopping Centers, Restaurants, Office Properties, and Hotels for sale, each with its own unique characteristics and investment potential. For example, Shopping Centers in Syracuse offer a chance to capitalize on the city's strong retail market, while Restaurants provide an opportunity to tap into the city's growing food scene. Office Properties, on the other hand, offer a chance to invest in the city's thriving business community, while Hotels provide a unique opportunity to capitalize on the city's tourism industry. With so many options available, Syracuse is an attractive location for investors looking to diversify their portfolios.
What is the average cap rate for retail properties in Syracuse?
When it comes to investing in retail properties in Syracuse, understanding the average cap rate is crucial. According to current listings, the average cap rate for retail properties in Syracuse is 7.52%, which can provide valuable insights for investors looking to maximize their returns - to learn more about how cap rates work, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Syracuse, location plays a significant role in determining retail property values, with properties in high-traffic areas like Armory Square, University Hill, and Westcott Street commanding higher prices due to their proximity to popular destinations and dense foot traffic. For instance, a retail property with a high foot traffic count in a prime location like Armory Square, which attracts visitors from the surrounding neighborhoods and universities, can expect to fetch a higher price per square foot compared to a similar property in a less trafficked area.
