Tenanted Warehouse
For Sale
Contact for pricing
1011 E Water St, Syracuse, NY 13210
Renovated 2020 warehouse currently leased to SUNY since 1985.
Property Size72,384 SF
Price / SF$76.54
Days on Market179
Property Features for 1011 E Water St
General Information
Standard status
Active
Size
72,384 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Building Details
Year Renovated
2020
Listing Agency:
Sutton Real Estate Company - Corporate
(315) 424-1111
Listed By:
Barton K. Feinberg · License #30FE1034180
(315) 447-8668
Source:
Moodyscre
Added: May 6
Changed: Oct 25
Last Checked: Oct 30 at 2:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sutton Real Estate Company - Corporate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This warehouse facility totals 72,384 square feet and was renovated in 2020. The property is leased to the State University of New York, with occupancy dating back to 1985.
The building is located near Interstates 690 and 81, each less than a half-mile away, providing straightforward highway access. Upstate Hospital and Syracuse University are also located about one mile from the site.
The asset presents a solid, established industrial option with a long-term institutional tenant and recent building renovations.
The building is located near Interstates 690 and 81, each less than a half-mile away, providing straightforward highway access. Upstate Hospital and Syracuse University are also located about one mile from the site.
The asset presents a solid, established industrial option with a long-term institutional tenant and recent building renovations.
Key Highlights
- Warehouse totaling 72,384 SF currently leased to SUNY since 1985
- Building renovated in 2020
- Interstates 690 & 81 are less than 1/4 mile away
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$391,803
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,836,060
$7.8M
Cap Rate 7%
$5,597,186
$5.6M
Cap Rate 9%
$4,353,367
$4.4M
Market Conditions
NOI Build-Up for 72,384 SF
Gross rent
$495.1K $6.84/SF
− Vacancy
−$34.2K −$0.47/SF
EGI
$460.9K $6.37/SF
− OpEx
−$69.1K −$0.96/SF
NOI
$391.8K $5.41/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,836,060
Cap Rate 7%
$5,597,186
Cap Rate 9%
$4,353,367
Alternative Uses
Best Use
Warehouse
$5.60M
$4.90M – $6.53M
NOI $391,803 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.58M
$11.01M – $14.68M
NOI $880,560 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,898
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13210, NY
23,150
Population
9,774
Households
2.4
Avg Household Size
27
Median Age
50%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
6,092
Density / Sq Mi
$38,783
Median Household Income
$20,554
Median Earnings
$1,081
Median Rent
$167,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Syracuse, NY
Similar Off Market Nearby
- The Vaxyster Self Storage Units Syracuse NY — 701 Irving Ave, Syracuse, NY 13210, United States
- Store all — 349-399 US-11, Syracuse, NY 13202
- Self Storage — 900 e genesee st, syracuse, ny 13210
- Self Storage — 1060 e genesee st, syracuse, ny 13210
- 3rd Floor — 500 Erie Blvd E, Syracuse, NY 13202
Frequently Asked Questions
What type of property is this?
Warehouse - Renovated 2020 warehouse currently leased to SUNY since 1985.
Where is this warehouse located?
The property is located at 1011 E Water St Syracuse, NY.
What is the asking price?
The asking price for this property is $5,540,000.
What are key features of this property?
This property features: Warehouse totaling 72,384 SF currently leased to SUNY since 1985; Building renovated in 2020; Interstates 690 & 81 are less than 1/4 mile away
