Office Building with Newer
For Sale
$500,000
128 Metropolitan Park Drive, Liverpool, NY 13088
Commercial zoning and convenient highway access support a range of office configurations.
Property Size3,975 SF
Lot Size0.75 Acres
Price / SF$125.79
Days on Market20
Property Features for 128 Metropolitan Park Drive
General Information
Standard status
Active
Size
3,975 SF
Total Parking Spaces
25
Lot size
0.75 Acres
Property subtype
Commercial
Zoning
COM 1, Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,404
Building Details
Building Size
3,975 SF
Year Built
1988
Buildings
1
Stories
1
Listing Agency:
Howard Hanna Real Estate
(315) 622-2111
Listed By:
Robert Morris
(315) 622-2111
Source:
Homeprocny
Added: Jul 21
Changed: Aug 9
Last Checked: Aug 9 at 4:38AM
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 Howard Hanna Real Estate
Investment Insights
Based on property information with market context.
Constructed in 1988, this 3,975-square-foot office building occupies .75 acres and offers a practical commercial layout. The property has received notable capital updates, including a roof installed approximately 8 years ago and HVAC installed approximately 6 years ago. Commercial 1, Commercial zoning supports office-oriented use, while the building’s flexible configuration can accommodate a variety of business operations.
On-site parking includes approximately 25 spaces for occupants, visitors, and clients. The property is located at 128 Metropolitan Park Drive in Liverpool, with access to Interstate 81 and the Thruway. Syracuse and Micron are also identified as nearby destinations, adding connectivity to the surrounding commercial area.
On-site parking includes approximately 25 spaces for occupants, visitors, and clients. The property is located at 128 Metropolitan Park Drive in Liverpool, with access to Interstate 81 and the Thruway. Syracuse and Micron are also identified as nearby destinations, adding connectivity to the surrounding commercial area.
Key Highlights
- 3,975‑square‑foot office building on .75 acres
- Roof installed approximately 8 years ago
- HVAC installed approximately 6 years ago
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
$41,921
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
8.38%
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%
$838,420
$838.4K
Cap Rate 7%
$598,871
$598.9K
Cap Rate 9%
$465,789
$465.8K
Market Conditions
NOI Build-Up for 3,975 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
$64.4K $16.20/SF
− Vacancy
−$8.5K −$2.14/SF
EGI
$55.9K $14.06/SF
− OpEx
−$14.0K −$3.52/SF
NOI
$41.9K $10.55/SF
Area
Onondaga County, NY
Vacancy
13.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
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%
$838,420
Cap Rate 7%
$598,871
Cap Rate 9%
$465,789
Alternative Uses
Best Use
Office B
$598.9K
$524.0K – $698.7K
NOI $41,921 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$690.8K
$604.5K – $805.9K
NOI $48,356 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 13088, NY
22,331
Population
11,242
Households
2
Avg Household Size
43
Median Age
35%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,690
Density / Sq Mi
$73,814
Median Household Income
$46,985
Median Earnings
$1,104
Median Rent
$166,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Commercial zoning and convenient highway access support a range of office configurations.
Where is this office building located?
The property is located at 128 Metropolitan Park Drive Liverpool, NY.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 3,975‑square‑foot office building on .75 acres; Roof installed approximately 8 years ago; HVAC installed approximately 6 years ago
