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605-609 E Fayette St
Syracuse, NY 13202
DOWNTOWN PARKING LOT/REDEVELOPMENT SITE · Land For Sale
·
0.57 AC
Investment Highlights
- Ideally situated between University Hill and Downtown Syracuse
- MX-5 Zoning allows for maximum density for development
- 87 Parking spaces can be accomodated on the Lot (7 Spaces dedicated to the McMahon Ryan House)
- Adjacent Land (Under I-81 Viaduct to be removed) is NYS owned and will expand future potential development lot to over 2 acres
- New public incentives for the creation of new housing units.
- The Lot is also available for Lease on an NNN Basis.
Executive Summary
Property sits next to the soon-to-be demolished I-81 Viaduct that will open up additional contiguous development land in excess of 2 acres!
Area has seen tremendous growth over the last 5 years including 100's of new apartments offering a central location and easy access to the vibrant Downtown Syracuse market as well Syracuse University and the three major area Hospitals.
New zoning in place allows for the maximum development under MX-5 designation that incentivizes new housing construction.
Lot Capable of handling 87 parking spaces. (7 are dedicated to the McMahon Ryan House).
The Lot is also available for lease on an NNN Basis.
Property Facts
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.57 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | ||
| Zoning | MX-5 | ||
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 0.57 AC |
| Opportunity Zone |
Yes |
| Zoning | MX-5 |
1 Lot Available
Lot
| Price | $1,829,100 CAD | Lot Size | 0.57 AC |
| Price Per AC | $3,208,947.24 CAD |
| Price | $1,829,100 CAD |
| Price Per AC | $3,208,947.24 CAD |
| Lot Size | 0.57 AC |
Property abuts a large NYS-state owned parcel that would increase the total development parcel to over 2 acres. The NYS State land will be available in 2026 when I-81 viaduct is removed as part of $2 billion infrastructure project. 87 Parking spaces
Description
CENTRAL SYRACUSE DEVELOPMENT SITE at the crossroads of Downtown Syracuse and University Hill. Property sits next to the soon-to-be demolished I-81 Viaduct that will open up additonal contiguous development land in access of 2 acres! Area has seen tremendous growth over the last 5 years including 100's of new apartments offering a central location and easy access to the vibrant Downtown Syracuse market as well Syracuse University and the three major area Hospitals. New zoning in place allows for the maximum development under MX-5 designation that incentivizes new housing construction. Lot can handle 87 Parking Spaces. (7 are dedicated to the McMahon Ryan House) The Lot is also available for Lease on a NNN Basis.
Property Taxes
| Parcel Number | 311500-103-000-0024-001-000-0000 | Improvements Assessment | $0 CAD |
| Land Assessment | $287,028 CAD | Total Assessment | $287,028 CAD |
Property Taxes
