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    Versatile Flex Space with Retail Title is generated by Realmo AI

    1427 Valley Dr, Syracuse, NY

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    11,320 SF building with warehouse, flex, and retail space.

    Type:FLEX_R_AND_D
    Property size:
    11,320 SF
    Lot size:
    0.37 Acres
    Price / SF:
    $61/SF
    Added:
    Jul 23, 2024
    Days on Market:
    686
    Last Refresh:
    May 20 at 9:15 pm

    Property Features for 1427 Valley Dr

    General Information

    Standard status
    Active
    Size
    11,320 SF
    Lot size
    0.37 Acres
    Property subtype
    FLEX_R_AND_D

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    Listing Contact
    Davis Yohe
    Davis Yohe

    Listing agent Davis Yohe

    Listing office Bridgeway Commercial Realty | Syracuse

    Listing date Jul 23, 2024

    Source Moodyscre

    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 Bridgeway Commercial Realty | Syracuse

    HighLights

    • Completely renovated office area features new insulation, wiring, sheetrock, windows, HVAC, and bathroom.
    • New wet sprinkler system throughout the entire building.
    • Substantial electrical upgrade with new 400 amp, three‑phase service.
    • Large 11,320 SF building with warehouse/flex space and retail space.
    • New LED lighting throughout the entire building.
    • Security system with alarm and fire monitoring.

    Overview

    This 11,320 square foot building is located on a 0.76 acre parcel with a fenced-in yard. The lot measures approximately 200 feet by 165 feet. The building includes approximately 9,840 square feet of warehouse or flex space and 1,480 square feet of retail space, with additional space upstairs. Recent improvements to the property include a new 400 amp service with three-phase power, a new 1-inch water line service to the building, and a new 4-inch water line service for the sprinkler system. A new wet sprinkler system has been installed throughout the building. The upstairs office, workspace, and storage area features new insulation, wiring, sheetrock, windows, HVAC system, and a bathroom. The front office area has been updated with new framing, insulation, wiring, plumbing, two ADA bathrooms, new lighting and fixtures, new HVAC, two hot water heaters, and two mop sinks. An alarm system and fire monitoring system are in place. The property also features three new HVAC units and new LED lights throughout the entire building. Additional improvements include new front entrance windows and a door, three new exterior steel doors, and a new rubber roof on the upstairs office, workspace, and storage area. Note that an auto repair business with shop equipment can be purchased separately and is not included in the real estate sale.
    Location Intelligence

    Current Use by Public Records

    Next Venture Graphics (Bike/Boat/Book/etc) Store J & J Automotive Auto Repair Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1534
    Latitude
    43.0038

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    FAQs

    What type of property is this?
    Flex space - 11,320 SF building with warehouse, flex, and retail space.
    Where is this flex space located?
    The property is located at 1427 Valley Dr Syracuse, NY.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Completely renovated office area features new insulation, wiring, sheetrock, windows, HVAC, and bathroom.; New wet sprinkler system throughout the entire building.; Substantial electrical upgrade with new 400 amp, three‑phase service.
    (315) 329-1328 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Davis Yohe
    Davis Yohe
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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