Industrial Flex Building with
For Sale
$795,000
6489 Ridings Road, Syracuse, NY 13206
Industrial flex building offers climate-controlled office, flex, and warehouse space with heavy power, drive-in and dock doors.
Property Size8,000 SF
Price / SF$99.38
Days on Market87
Property Features for 6489 Ridings Road
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
10 ft
Dock-High Doors
1
Drive-In Doors
1
Heavy Power
Yes
Building Details
Building Size
8,000 SF
Listing Agency:
Syracuse Office
(315) 445-8529
Listed By:
Gary G. Cottet · License #30CO0923433
(315) 445-8529
Source:
Pyramidbrokerage
Added: May 15
Changed: Aug 8
Last Checked: Aug 9 at 5:49AM
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 industrial flex building includes a mix of office, flex, and warehouse areas totaling approximately 8,000 SF. The layout features about 2,200+/- SF of office space, 2,800+/- SF of flex space with a large training room, and about 3,000+/- SF of warehouse. The building is 100% climate controlled, with 10'9" ceiling height, and heavy power. There are both a drive-in door and a dock door, and the interior has no bearing walls, allowing for reconfiguration.
Access is provided via the drive-in and dock doors, supporting a range of industrial and service-oriented uses. The property is for sale near Carrier Circle.
The open interior configuration and climate-controlled design make the building well-suited for tenants seeking adaptable industrial space, including service, training, manufacturing, or high-tech use.
Access is provided via the drive-in and dock doors, supporting a range of industrial and service-oriented uses. The property is for sale near Carrier Circle.
The open interior configuration and climate-controlled design make the building well-suited for tenants seeking adaptable industrial space, including service, training, manufacturing, or high-tech use.
Key Highlights
- About 8,000 SF industrial flex building near Carrier Circle
- Space includes approximately 2,200+/- SF office, 2,800+/- SF flex (large training room), and 3,000+/- SF warehouse
- 100% climate controlled building
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
$72,540
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
9.12%
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%
$1,450,800
$1.5M
Cap Rate 7%
$1,036,286
$1.0M
Cap Rate 9%
$806,000
$806.0K
Market Conditions
NOI Build-Up for 8,000 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
$120.0K $15.00/SF
− Vacancy
−$8.4K −$1.05/SF
EGI
$111.6K $13.95/SF
− OpEx
−$39.1K −$4.88/SF
NOI
$72.5K $9.07/SF
Area
Syracuse, NY
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,450,800
Cap Rate 7%
$1,036,286
Cap Rate 9%
$806,000
Alternative Uses
Best Use
Office B
$1.10M
$961.9K – $1.28M
NOI $76,950 @ 7.0% cap · market cap 9.68%
Second Best
Flex RnD
$1.04M
$906.8K – $1.21M
NOI $72,540 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,321 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 13206, NY
16,599
Population
8,460
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,049
Density / Sq Mi
$60,314
Median Household Income
$40,429
Median Earnings
$952
Median Rent
$130,300
Median Home Value
Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial flex building offers climate-controlled office, flex, and warehouse space with heavy power, drive-in and dock doors.
Where is this flex space located?
The property is located at 6489 Ridings Road Syracuse, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: About 8,000 SF industrial flex building near Carrier Circle; Space includes approximately 2,200+/- SF office, 2,800+/- SF flex (large training room), and 3,000+/- SF warehouse; 100% climate controlled building
