Single-Story Medical
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 Market140
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) 427-6379
Added: May 19
Changed: Sep 16
Last Checked: Oct 5 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.
This 2,244-square-foot medical office occupies a single level at 105 N Main Street. The interior includes reception and optical retail areas, multiple equipped exam rooms, private offices, and a laboratory. The building has supported continuous professional use for more than 60 years and currently accommodates an established optometry practice that has operated at the property for 29 years.
The 0.2317-acre site provides 15 dedicated parking spaces. Constructed in 1950, the property has a modern interior buildout, forced-air heating, central air, public sewer, and an asphalt roof installed in 2024. Zoning is designated C, with medical and professional office use identified in the property information. The building is single-tenant and owner-occupied.
The 0.2317-acre site provides 15 dedicated parking spaces. Constructed in 1950, the property has a modern interior buildout, forced-air heating, central air, public sewer, and an asphalt roof installed in 2024. Zoning is designated C, with medical and professional office use identified in the property information. The building is single-tenant and owner-occupied.
Key Highlights
- 2,244 SF single‑level medical office building
- 0.2317‑acre site with 15 dedicated parking spaces
- Interior includes exam rooms, private offices, optical retail, and laboratory space
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
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Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Exam rooms, private offices, optical retail space, and laboratory improvements support a range of professional healthcare uses.
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‑level medical office building; 0.2317‑acre site with 15 dedicated parking spaces; Interior includes exam rooms, private offices, optical retail, and laboratory space
