Multi-Tenant Industrial
For Sale
Contact for pricing
7406 Taft Park Dr, East Syracuse, NY 13057
Block-and-brick industrial facility with two tenant spaces, office areas, and loading docks on 2.05 acres.
Property Size24,566 SF
Lot Size2.05 Acres
Price / SF$101.77
Days on Market1273
Property Features for 7406 Taft Park Dr
General Information
Standard status
Active
Size
24,566 SF
Total Parking Spaces
50
Lot size
2.05 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
2
Heavy Power
Yes
Building Details
Construction
block and brick
Tenancy
Multi
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 427-1981
Listed By:
James Laurenzo
(315) 427-1981
Source:
Moodyscre
Added: Feb 21, 2023
Changed: Jul 25
Last Checked: Jul 25 at 4:16AM
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 Cushman & Wakefield | Pyramid Brokerage - Syracuse
Investment Insights
Based on property information with market context.
Industrial/manufacturing building totaling 24,566± SF on 2.05± acres, constructed with block and brick. The property is configured for two tenants, with 14,000± SF and 10,000± SF production areas, each including 1,250± SF office space. Building clear height is 14’ under joist, and each tenant space has its own loading dock.
The facility includes 600 amps of 3-phase power with a kick-down transformer and separate gas and electric service with public WSGE (utilities). The property offers 50± parking spaces and is described as well maintained.
The building is located just off Northern Blvd I-481 N/S in East Syracuse, NY. An adjacent 45± acres may also be available for sale by a separate owner.
The facility includes 600 amps of 3-phase power with a kick-down transformer and separate gas and electric service with public WSGE (utilities). The property offers 50± parking spaces and is described as well maintained.
The building is located just off Northern Blvd I-481 N/S in East Syracuse, NY. An adjacent 45± acres may also be available for sale by a separate owner.
Key Highlights
- 24,566± SF block‑and‑brick industrial/manufacturing building on 2.05± acres
- Two‑tenant setup with long‑term renewal at market rate rents
- Includes 14,000± SF with 1,250± SF office and 10,000± SF with 1,250± SF office (total offices 2,500± SF)
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
$110,307
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
4.41%
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%
$2,206,140
$2.2M
Cap Rate 7%
$1,575,814
$1.6M
Cap Rate 9%
$1,225,633
$1.2M
Market Conditions
NOI Build-Up for 24,566 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
$169.3K $6.89/SF
− Vacancy
−$11.7K −$0.48/SF
EGI
$157.6K $6.41/SF
− OpEx
−$47.3K −$1.92/SF
NOI
$110.3K $4.49/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /SF/Yr
Expense Ratio
30.00%
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%
$2,206,140
Cap Rate 7%
$1,575,814
Cap Rate 9%
$1,225,633
Alternative Uses
Best Use
Industrial
$1.58M
$1.38M – $1.84M
NOI $110,307 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.27M
$3.74M – $4.98M
NOI $298,848 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14 ft
Clear height
2
Dock-high doors
Multi-tenant
Tenancy
Yes
Heavy power
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
52
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Manufacturing property - Block-and-brick industrial facility with two tenant spaces, office areas, and loading docks on 2.05 acres.
Where is this manufacturing property located?
The property is located at 7406 Taft Park Dr East Syracuse, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 24,566± SF block‑and‑brick industrial/manufacturing building on 2.05± acres; Two‑tenant setup with long‑term renewal at market rate rents; Includes 14,000± SF with 1,250± SF office and 10,000± SF with 1,250± SF office (total offices 2,500± SF)
