Renovated Industrial Flex
For Sale
$1,242,966
114 Marcy Street, East Syracuse, NY 13057
Renovated commercial space combines showroom, warehouse, and production areas with heavy power.
Property Size18,014 SF
Price / SF$69
Days on Market9
Property Features for 114 Marcy Street
General Information
Standard status
Active
Size
18,014 SF
Property subtype
Industrial
Building Details
Building Size
18,014 SF
Listing Agency:
Syracuse Office
(315) 445-8519
Listed By:
Christopher Savage, SIOR
(315) 445-8519
Source:
Pyramidbrokerage
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 5:51AM
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 Syracuse Office
Investment Insights
Based on property information with market context.
This renovated flex property at 114 Marcy Street includes 18,014 SF of industrial space arranged for showroom presentation, warehouse functions, and stone countertop production. The building is currently operated as Aurora Stone, with areas configured for cutting and shaping stone. New concrete flooring extends throughout the facility.
A 3,000 SF addition built in 1996 provides 16' clear height, floor drains, and heavy power. The improvements occupy a 3.17-acre parcel in East Syracuse, with outdoor storage and expansion area identified as part of the site.
A 3,000 SF addition built in 1996 provides 16' clear height, floor drains, and heavy power. The improvements occupy a 3.17-acre parcel in East Syracuse, with outdoor storage and expansion area identified as part of the site.
Key Highlights
- 18,014 SF renovated industrial flex building
- 3.17‑acre parcel at 114 Marcy Street, East Syracuse, NY
- Showroom, warehouse, and stone countertop production areas
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
$98,220
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
7.90%
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%
$1,964,400
$2.0M
Cap Rate 7%
$1,403,143
$1.4M
Cap Rate 9%
$1,091,333
$1.1M
Market Conditions
NOI Build-Up for 18,014 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
$124.1K $6.89/SF
− Vacancy
−$8.6K −$0.48/SF
EGI
$115.6K $6.41/SF
− OpEx
−$17.3K −$0.96/SF
NOI
$98.2K $5.45/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /SF/Yr
Expense Ratio
15.00%
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%
$1,964,400
Cap Rate 7%
$1,403,143
Cap Rate 9%
$1,091,333
Alternative Uses
Best Use
Retail
$3.11M
$2.72M – $3.62M
NOI $217,443 @ 7.0% cap · market cap 17.49%
Second Best
Warehouse
$1.40M
$1.23M – $1.64M
NOI $98,220 @ 7.0% cap · market cap 7.90%
Theoretical Best
Office A
$3.13M
$2.74M – $3.65M
NOI $219,142 @ 7.0% cap · market cap 17.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated commercial space combines showroom, warehouse, and production areas with heavy power.
Where is this flex space located?
The property is located at 114 Marcy Street East Syracuse, NY.
What is the asking price?
The asking price for this property is $1,242,966.
What are key features of this property?
This property features: 18,014 SF renovated industrial flex building; 3.17‑acre parcel at 114 Marcy Street, East Syracuse, NY; Showroom, warehouse, and stone countertop production areas
