Renovated Medical Office
For Sale
$355,000
127-29 Seeley Road, Syracuse, NY 13224
Professionally renovated medical office with multiple suites, support areas, parking, and an accessible covered entrance.
Property Size3,000 SF
Price / SF$118.33
Days on Market89
Property Features for 127-29 Seeley Road
General Information
Standard status
Active
Size
3,000 SF
Property subtype
CommercialLease
Zoning
MX3
Additional Details
Highway Access
Yes
Office Units
10
Amenities
covered portico
handicap accessible
kitchen
storage
Listing Agency:
RE/MAX ONE
Listed By:
Anthony Paone · License #10311205565
(315) 480-5555
Source:
Nicholcityrealty
Added: Jul 20
Changed: Oct 1
Last Checked: Oct 14 at 10:24PM
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 RE/MAX ONE
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Investment Insights
Based on property information with market context.
This professionally renovated medical office property in Syracuse is configured with 10 suites along with kitchen, office, and storage areas. The building includes a covered portico at the entrance and is handicap accessible. Business and medical equipment may be negotiated separately.
The property is located in the city’s MX3 zone, with access to Routes 690, 81, and 481, as well as the NYS Thruway. On-site parking accommodates 25+ cars. The location has supported approximately 40 years of medical practice, providing an established setting for continued medical or other professional office use.
The property is located in the city’s MX3 zone, with access to Routes 690, 81, and 481, as well as the NYS Thruway. On-site parking accommodates 25+ cars. The location has supported approximately 40 years of medical practice, providing an established setting for continued medical or other professional office use.
Key Highlights
- 10‑suite medical office configuration
- Professionally renovated building with kitchen, office areas, and storage
- MX3 zoning in the City of Syracuse
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,856
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,120
$577.1K
Cap Rate 7%
$412,229
$412.2K
Cap Rate 9%
$320,622
$320.6K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$45.0K $15.00/SF
− Vacancy
−$6.5K −$2.18/SF
EGI
$38.5K $12.83/SF
− OpEx
−$9.6K −$3.21/SF
NOI
$28.9K $9.62/SF
Area
Syracuse, NY
Vacancy
14.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$577,120
Cap Rate 7%
$412,229
Cap Rate 9%
$320,622
Alternative Uses
Best Use
Office B
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 8.13%
Second Best
Healthcare Medical
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$521.4K
$456.2K – $608.3K
NOI $36,495 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
10
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13224, NY
8,705
Population
3,948
Households
2.2
Avg Household Size
40
Median Age
57%
College-Educated
91%
High-School Grad
2.9 sq mi
ZIP Area
3,002
Density / Sq Mi
$81,667
Median Household Income
$50,043
Median Earnings
$1,029
Median Rent
$215,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Syracuse, NY
Similar Off Market Nearby
- Spay & Neuter Syracuse — 2616 Erie Blvd E, Syracuse, NY 13224
Frequently Asked Questions
What type of property is this?
Medical Office Space - Professionally renovated medical office with multiple suites, support areas, parking, and an accessible covered entrance.
Where is this medical office space located?
The property is located at 127-29 Seeley Road Syracuse, NY.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 10‑suite medical office configuration; Professionally renovated building with kitchen, office areas, and storage; MX3 zoning in the City of Syracuse
