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Building Details

Buildings 1

Stories 1

Units 1

Listing Agency: Cushman & Wakefield Pyramid Brokerage Company Syracuse

Listed By: Gary Cottet · License #NY 30CO0923433 Show Phone

Source: Crexi

Added: Mar 1 Changed: Oct 10 Last Checked: Oct 14 at 10:21PM

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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 Company Syracuse

Investment Insights

Based on property information with market context.

This 3,879± square-foot flex and industrial building combines adaptable commercial space with clear heights ranging from approximately 10 to 22 feet. Light Industrial zoning supports a range of industrial, warehouse, distribution, and contractor operations. A roof replacement completed in 2024 adds a recent building improvement.

The property is positioned on Erie Boulevard West in Syracuse, with Downtown Syracuse a short drive away. Access to major interstate corridors supports regional movement and distribution needs.

Key Highlights

• 3,879± SF flex/industrial building
• Clear ceiling heights from approximately 10’ to 22’
• Light Industrial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,996

Cap Rate

6.00%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$419,920 $419.9K

Cap Rate 7%

$299,943 $299.9K

Cap Rate 9%

$233,289 $233.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,879 SF

Gross rent

$26.5K $6.84/SF

− Vacancy

−$1.8K −$0.47/SF

EGI

$24.7K $6.37/SF

− OpEx

−$3.7K −$0.96/SF

NOI

$21.0K $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%

$419,920

Cap Rate 7%

$299,943

Cap Rate 9%

$233,289

Alternative Uses

Best Use

Flex RnD

$502.5K

$439.7K – $586.2K (±1% cap)

NOI $35,173 @ 7.0% cap · market cap 10.05%

Second Best

Warehouse

$299.9K

$262.5K – $349.9K (±1% cap)

NOI $20,996 @ 7.0% cap · market cap 6.00%

Theoretical Best

Office A

$674.1K

$589.9K – $786.5K (±1% cap)

NOI $47,189 @ 7.0% cap · market cap 13.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Hotel & Motel Furniture & Home Goods Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

824

Businesses Nearby

Under-served

Demand for This Use

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

6.3% 2019

4.9% 2020

3.6% 2021

2.9% 2022

3.2% 2023

4.1% 2024

6.1% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Light Industrial zoning supports industrial, warehouse, distribution, and contractor uses.

Where is this flex space located?

The property is located at 1131 Erie Blvd W Syracuse, NY.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 3,879± SF flex/industrial building; Clear ceiling heights from approximately 10’ to 22’; Light Industrial zoning