North Syracuse Medical Office
For Sale
$400,000
105 N Main Street, Syracuse, NY 13212
CommercialSale, Syracuse, NY
Property Size2,244 SF
Lot Size0.23 Acres
Price / SF$178.25
Days on Market94
Property Features for 105 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
C
Zoning description
Commercial
Parking
15
Lot features
Rectangular, Rectangular Lot
Elementary school district
North Syracuse
Middle school district
North Syracuse
High school district
North Syracuse
Subdivision
North Syracuse Village-Clay-312401
Standard status
Active
APN
312401-003-000-0002-012-000-0000
Size
2,244 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
10374
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
Home With Us Realty Group, LLC
(315) 677-7062
Listed By:
Jason Klink · License #10401298650
(315) 677-7062
Added: May 19
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# S1683136
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 105 N Main Street in North Syracuse, NY, this single-story commercial building offers 2,244 square feet of space. The property, built in 1950, has been professionally used for over 60 years and has housed an optometry practice for 29 years. Situated on a 0.23-acre lot, the building includes 15 dedicated parking spaces. A new roof was installed in 2024. The interior features a reception area, optical retail space, multiple exam rooms, private offices, and a laboratory. The layout is suitable for various medical or professional office uses, including optometry, ophthalmology, dental, dermatology, chiropractic, physical therapy, counseling, or general professional office. The property is zoned for medical and professional office use and is currently owner-occupied. Located in the Central New York economic corridor, the area is expected to benefit from the Micron Technology semiconductor fabrication facility under construction in Clay, NY. The building is available on its own or as part of a package with the established optometry practice. Seller financing may be available.
Key Highlights
- 2,244 SF single‑story medical/professional office built in 1950, suited for exam rooms, retail, offices, and laboratory space.
- New roof installed in 2024, helping reduce near‑term capital expenditure risk.
- 15 dedicated on‑site parking spaces for the 2,244 SF building (about 7 per 1,000 SF).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,584
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,680
$431.7K
Cap Rate 7%
$308,343
$308.3K
Cap Rate 9%
$239,822
$239.8K
Market Conditions
NOI Build-Up for 2,244 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.7K $15.00/SF
− Vacancy
−$4.9K −$2.18/SF
EGI
$28.8K $12.83/SF
− OpEx
−$7.2K −$3.21/SF
NOI
$21.6K $9.62/SF
Area
Syracuse, NY
Vacancy
14.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$431,680
Cap Rate 7%
$308,343
Cap Rate 9%
$239,822
Alternative Uses
Best Use
Office B
$308.3K
$269.8K – $359.7K
NOI $21,584 @ 7.0% cap · market cap 5.40%
Second Best
Healthcare Medical
$298.9K
$261.5K – $348.7K
NOI $20,923 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$390.0K
$341.2K – $455.0K
NOI $27,299 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13212, NY
20,220
Population
9,213
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
1,822
Density / Sq Mi
$74,931
Median Household Income
$45,740
Median Earnings
$1,027
Median Rent
$157,400
Median Home Value
Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Well-maintained medical office in a high-growth area.
Where is this medical office space located?
The property is located at 105 N Main Street Syracuse, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,244 SF single‑story medical/professional office built in 1950, suited for exam rooms, retail, offices, and laboratory space.; New roof installed in 2024, helping reduce near‑term capital expenditure risk.; 15 dedicated on‑site parking spaces for the 2,244 SF building (about 7 per 1,000 SF).
