Renovated Warehouse with Long-Term
For Sale
Contact for pricing
1110-1130 E Washington St, Syracuse, NY 13210
The property carries MX-3 zoning and sits minutes from Interstates 690 and 81.
Property Size72,384 SF
Price / SF$76.54
Days on Market240
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Property Features for 1110-1130 E Washington St
General Information
Standard status
Active
Size
72,384 SF
Class
B
Total Parking Spaces
10
Property subtype
Industrial
Zoning
MX-3
Lease Type
Modified Gross
Investment Type
Institutional
Net Operating Income
$470,496
Additional Details
Highway Access
Yes
Warehouse Space
72,384 SF
Building Details
Year Built
1950
Year Renovated
2020
Buildings
1
Stories
3
Units
1
Tenancy
Single
Listing Agency:
Sutton Real Estate Company LLC
Listed By:
Barton Feinberg · License #NY 30FE1034180
(315) 424-1111
Source:
Crexi
Added: Feb 17
Changed: Oct 3
Last Checked: Oct 14 at 9:25PM
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 LLC
Investment Insights
Based on property information with market context.
This 72,384 +/- SF warehouse supports record-storage operations and is occupied by the State University of NY, which has been in place since 1985. The building underwent renovation in 2020, adding a recent improvement milestone to the existing industrial facility.
Access is convenient to Interstates 690 and 81, while Upstate Hospital and Syracuse University are located 1 mile from the property in Syracuse, NY. The site combines an established institutional tenancy, warehouse scale, and MX-3 zoning within an established urban setting.
Access is convenient to Interstates 690 and 81, while Upstate Hospital and Syracuse University are located 1 mile from the property in Syracuse, NY. The site combines an established institutional tenancy, warehouse scale, and MX-3 zoning within an established urban setting.
Key Highlights
- 72,384 +/- SF warehouse space
- State University of NY tenant in place since 1985
- Building renovation completed in 2020
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
Industrial
$4.61M
$4.03M – $5.38M
NOI $322,661 @ 7.0% cap · market cap 5.82%
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
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
Vacancy Rate% for Industrial in Syracuse, NY
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Frequently Asked Questions
What type of property is this?
Warehouse - The property carries MX-3 zoning and sits minutes from Interstates 690 and 81.
Where is this warehouse located?
The property is located at 1110-1130 E Washington 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: 72,384 +/- SF warehouse space; State University of NY tenant in place since 1985; Building renovation completed in 2020
