Industrial Brewery Redevelopment
For Sale
Contact for pricing
112 Wilkinson St, Syracuse, NY 13204
Three-building industrial brewery campus on 1.5 acres with 85± parking spaces and tenant income in 39,600± SF.
Property Size66,535 SF
Lot Size1.50 Acres
Price / SF$57.11
Days on Market116
Property Features for 112 Wilkinson St
General Information
Standard status
Active
Size
66,535 SF
Total Parking Spaces
85
Lot size
1.50 Acres
Property subtype
INDUSTRIAL
Additional Details
Opportunity Zone
Yes
Building Details
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 382-1057
Listed By:
Stephen Scuderi · License #10401277622
(315) 382-1057
Source:
Moodyscre
Added: Apr 16
Changed: Jul 25
Last Checked: Jul 25 at 3:48AM
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 Cushman & Wakefield | Pyramid Brokerage - Syracuse
Investment Insights
Based on property information with market context.
This industrial brewery redevelopment campus includes three buildings totaling 59,484± SF on 1.5 acres, with 85± parking spaces. The property is currently generating income from tenants in 39,600± SF, with Middle Ages Brewery and D&D Motors listed as current occupants.
The main building includes 12,500± SF of vacant space, and there is also a 7,361± SF outparcel building. The seller has drawings for residential development of 12,500± SF on the second floor of the main building. An additional 16,600± SF is scheduled to be vacant in Fall 2026 for redevelopment. The property is located in an Opportunity Zone and is on the historic registry, with Part I approved for historic tax credits.
Address: 112 Wilkinson St, Syracuse, NY 13204.
The main building includes 12,500± SF of vacant space, and there is also a 7,361± SF outparcel building. The seller has drawings for residential development of 12,500± SF on the second floor of the main building. An additional 16,600± SF is scheduled to be vacant in Fall 2026 for redevelopment. The property is located in an Opportunity Zone and is on the historic registry, with Part I approved for historic tax credits.
Address: 112 Wilkinson St, Syracuse, NY 13204.
Key Highlights
- Three‑building industrial brewery campus on 1.5 acres in the City of Syracuse with 85± parking spaces
- Total building size of 35,523± SF, 16,600± SF, and 7,361± SF; currently tenant income in 39,600± SF
- Tenants include Middle Ages Brewery and D&D Motors, providing income in the leased 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
$296,588
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
7.80%
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%
$5,931,760
$5.9M
Cap Rate 7%
$4,236,971
$4.2M
Cap Rate 9%
$3,295,422
$3.3M
Market Conditions
NOI Build-Up for 66,535 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
$455.1K $6.84/SF
− Vacancy
−$31.4K −$0.47/SF
EGI
$423.7K $6.37/SF
− OpEx
−$127.1K −$1.91/SF
NOI
$296.6K $4.46/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
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%
$5,931,760
Cap Rate 7%
$4,236,971
Cap Rate 9%
$3,295,422
Alternative Uses
Best Use
Industrial
$4.24M
$3.71M – $4.94M
NOI $296,588 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.56M
$10.12M – $13.49M
NOI $809,406 @ 7.0% cap · market cap 21.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,072
Businesses Nearby
Explore this area
Business Placement
Demographics for 13204, NY
19,752
Population
10,410
Households
1.9
Avg Household Size
31
Median Age
26%
College-Educated
84%
High-School Grad
4.3 sq mi
ZIP Area
4,593
Density / Sq Mi
$42,585
Median Household Income
$35,609
Median Earnings
$1,054
Median Rent
$97,400
Median Home Value
Market
Vacancy Rate% for Industrial in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Brewery - Three-building industrial brewery campus on 1.5 acres with 85± parking spaces and tenant income in 39,600± SF.
Where is this brewery located?
The property is located at 112 Wilkinson St Syracuse, NY.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Three‑building industrial brewery campus on 1.5 acres in the City of Syracuse with 85± parking spaces; Total building size of 35,523± SF, 16,600± SF, and 7,361± SF; currently tenant income in 39,600± SF; Tenants include Middle Ages Brewery and D&D Motors, providing income in the leased space
