Renovated Manufacturing
For Sale
$1,650,000
314 Lakeside Road, Syracuse, NY 13209
Renovated industrial property combines manufacturing and office areas within a commercial park setting.
Property Size13,221 SF
Days on Market531
Property Features for 314 Lakeside Road
General Information
Standard status
Active
Size
13,221 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
05, Commercial
Occupancy
100%
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$30,758
Building Details
Building Size
13,221 SF
Year Built
1974
Buildings
1
Stories
1
Listing Agency:
Rooftop Realty Group LLC
(315) 560-3005
Listed By:
Andrea Sardo · License #10401316786
(315) 560-3005
Source:
Homeprocny
Added: Mar 7, 2025
Changed: Aug 20
Last Checked: Aug 20 at 8:53AM
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 Rooftop Realty Group LLC
Investment Insights
Based on property information with market context.
This manufacturing property includes more than 13,000 square feet of renovated space configured for both production and office functions. The improvements date to a 1974 building and include parking for occupants and visitors.
The property is positioned in a commercial park just off Route 690 and is currently 100% leased. Its combination of manufacturing area, office space, renovated improvements, and established occupancy creates a functional industrial asset with an existing tenant profile.
The property is positioned in a commercial park just off Route 690 and is currently 100% leased. Its combination of manufacturing area, office space, renovated improvements, and established occupancy creates a functional industrial asset with an existing tenant profile.
Key Highlights
- More than 13,000 square feet of renovated manufacturing and office space
- 100% leased occupancy
- Located in a commercial park just off 690
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
$127,169
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
7.71%
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%
$2,543,380
$2.5M
Cap Rate 7%
$1,816,700
$1.8M
Cap Rate 9%
$1,412,989
$1.4M
Market Conditions
NOI Build-Up for 13,221 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
$198.3K $15.00/SF
− Vacancy
−$28.8K −$2.18/SF
EGI
$169.6K $12.83/SF
− OpEx
−$42.4K −$3.21/SF
NOI
$127.2K $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 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%
$2,543,380
Cap Rate 7%
$1,816,700
Cap Rate 9%
$1,412,989
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,169 @ 7.0% cap · market cap 7.71%
Second Best
Industrial
$841.9K
$736.7K – $982.2K
NOI $58,934 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,835 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 13209, NY
13,018
Population
6,374
Households
2
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
13.1 sq mi
ZIP Area
994
Density / Sq Mi
$67,307
Median Household Income
$44,812
Median Earnings
$968
Median Rent
$146,200
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?
Manufacturing property - Renovated industrial property combines manufacturing and office areas within a commercial park setting.
Where is this manufacturing property located?
The property is located at 314 Lakeside Road Syracuse, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: More than 13,000 square feet of renovated manufacturing and office space; 100% leased occupancy; Located in a commercial park just off 690
