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 Market87
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) 447-8668
Listed By:
Barton K. Feinberg · License #30FE1034180
(315) 447-8668
Source:
Moodyscre
Added: May 6
Changed: Jul 28
Last Checked: Jul 30 at 1:53PM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $495.1k | $6.84 |
| − Vacancy | −$34.2k | −$0.47 |
| EGI | $460.9k | $6.37 |
| − OpEx | −$69.1k | −$0.96 |
| NOI | $391.8k | $5.41 |
72,384 SF · lease $6.84/SF/yr · vacancy 6.90% · expense 15.00%
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.
Property 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
Market
Properties on Market for Warehouses in Syracuse
Vacancy Rate% for Industrial in Syracuse, NY
Questions? Ask Rey
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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
