Dual-Layout Office Building
For Sale
$549,900
430 S Main Street, Syracuse, NY 13212
CommercialSale, Syracuse, NY
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$109.98
Days on Market36
Property Features for 430 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
01
Zoning description
Commercial
Parking
8
Lot features
Irregular Lot
Elementary school district
North Syracuse
Middle school district
North Syracuse
High school district
North Syracuse
Directions
NB or SB on S Main St
Subdivision
North Syracuse Village-Clay-312401
Standard status
Active
APN
312401-006-000-0004-016-000-0000
Size
5,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
10030
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Building materials
Block, StructuralInsulatedPanels
Roof type
Flat
Listing Agency:
Home With Us Realty Group, LLC
(315) 677-7062
Listed By:
Jason Klink · License #10401298650
(315) 677-7062
Added: Jul 16
Changed: Aug 19
Last Checked: Aug 20 at 1:06AM
MLS# S1699227
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.
Well-maintained 5,000 SF commercial office building on a 15,000 SF lot in North Syracuse’s established business corridor along South Main Street. The property is arranged with two distinct sides, allowing for flexibility between owner-occupancy, multi-tenant use, or a combination of both. The right side (2,900 SF) is fully built out as a professional office suite with multiple private offices separated by soundproof insulation, two virtual-conference-capable conference rooms pre-wired with CAT6 and electrical for AV equipment, and updated carpet-tile flooring with replacement tiles on hand. This build-out includes new walls, insulation, doors, and fresh paint throughout, along with upgraded electrical panels and CAT6 data cabling to every workspace.
The left side (2,100 SF) is an open shell, ready for a custom tenant or owner build-out. Building-wide improvements include new furnaces and central air conditioning on both sides, a flat roof with new soffit, new exterior steel doors, and a rear emergency exit steel staircase with a concrete pad. Additional updates include upgraded electrical service for exterior signage with timer-controlled lighting, a security camera system with audio/video and infrared capability, and a new hot water tank. The main dividing wall features interwoven fireproof insulation, and the OCWA water main and meter have been replaced.
Convenient access to I-81 and I-481 supports steady connectivity for office users. The property is approximately 3 miles from Syracuse Hancock International Airport.
The left side (2,100 SF) is an open shell, ready for a custom tenant or owner build-out. Building-wide improvements include new furnaces and central air conditioning on both sides, a flat roof with new soffit, new exterior steel doors, and a rear emergency exit steel staircase with a concrete pad. Additional updates include upgraded electrical service for exterior signage with timer-controlled lighting, a security camera system with audio/video and infrared capability, and a new hot water tank. The main dividing wall features interwoven fireproof insulation, and the OCWA water main and meter have been replaced.
Convenient access to I-81 and I-481 supports steady connectivity for office users. The property is approximately 3 miles from Syracuse Hancock International Airport.
Key Highlights
- 5,000 SF commercial office building built in 1968 on a 15,000 SF lot on S Main Street in North Syracuse.
- Flexible layout: 2,900 SF right side fully built out with multiple private offices and two conference rooms pre‑wired for AV (CAT6 + electrical).
- 2,100 SF left side is open shell space ready for custom tenant or owner build‑out.
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
$48,094
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
8.75%
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%
$961,880
$961.9K
Cap Rate 7%
$687,057
$687.1K
Cap Rate 9%
$534,378
$534.4K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$10.9K −$2.18/SF
EGI
$64.1K $12.83/SF
− OpEx
−$16.0K −$3.21/SF
NOI
$48.1K $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%
$961,880
Cap Rate 7%
$687,057
Cap Rate 9%
$534,378
Alternative Uses
Best Use
Office B
$687.1K
$601.2K – $801.6K
NOI $48,094 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
690
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Office building - 5,000 SF office building on a 15,000 SF lot with a fully built-out suite and an open shell side for customization.
Where is this office building located?
The property is located at 430 S Main Street Syracuse, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 5,000 SF commercial office building built in 1968 on a 15,000 SF lot on S Main Street in North Syracuse.; Flexible layout: 2,900 SF right side fully built out with multiple private offices and two conference rooms pre‑wired for AV (CAT6 + electrical).; 2,100 SF left side is open shell space ready for custom tenant or owner build‑out.
