246 Kinne Street, DeWitt

Description

Positioned on a high-visibility corner in the Village of East Syracuse, this 2,500 sq ft mixed-use commercial building offers a strong, stable investment opportunity with long-term tenancy already in place. The property is fully occupied by two established businesses—a neighborhood minimart and a hair salon—both of which have been reliable, long-term tenants. The salon has operated here since the building was originally constructed, and both tenants are current on rent, providing immediate and consistent cash flow from day one. Located at the corner of James Street and Kinne Street, the property benefits from excellent exposure, steady traffic, and strong walkability, with public transportation conveniently located right on the block. Large parking lot can accomodate 10-14 cars and there is abundant street parking as well. Current rents total $2,710/month ($32,520 annually), with tenants responsible for their own utilities, helping keep operating costs predictable. At the current asking price, the property operates at approximately a 7% cap rate based on current income and expenses. This is an ideal opportunity for investors seeking a low-maintenance property with dependable income and long-term upside in a well-established East Syracuse location.