214 Kinne St - Office CONDO FOR SALE


Syracuse, NY 13206- Eastwood
$825,000 USD
315-391-9654
214 Kinne St, Syracuse, NY for Sale
$825,000 USD
Office CONDO - FOR SALE
1/20
null | 8% Cap Rate

214 Kinne St
Syracuse, NY 13206
Eastwood


HIGHLIGHTS

  • Fully Leased NNN Structure
  • Recent Building Upgrades - Sprinkler & Fire Alarm all NEW!

OVERVIEW

St. Matthew’s Gymnasium offers a rare investment opportunity in East Syracuse. This 10,717 SF facility is fully leased on a NNN basis to a well-established nonprofit organization. The tenant has three (3) years remaining on their base term, with a five-year renewal option in place, providing stable cash flow and long-term security. The property features recently installed life-safety upgrades, including a new sprinkler and fire alarm system. Interior improvements include both boys’ and girls’ locker rooms, multiple storage rooms, and a built-in stage, supporting a wide variety of athletic and community uses. Annual operating expenses are efficient, with estimated HOA dues of $3,252.30 and annual real estate taxes of $2,655.66. This investment combines a strong nonprofit tenant, updated building systems, and unique amenities in a desirable location. The gymnasium is part of the former St. Matthew's Elementary School and now part of the St. Matthew's Condominium Association. Full condo offering documents will be made available during due diligence.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

8%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

St. Matthew's Gymnasium

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

10,717 SF

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.35 AC

LAND SF

58,806 SF

ZONING

Gymnasium

APN/PARCEL ID

311500-028-000-0018-001-000-0000,312601-002-000-0007-001-001-0000

ASK ABOUT THIS PROPERTY

Ryan BenzRedev CNYMore Info
315-391-9654

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Ryan BenzRedev CNYMore Info
315-391-9654

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.