Flex Space with High
For Sale
Contact for pricing
143 Midler Park Dr, Syracuse, NY 13206
Adaptable commercial space with block construction, prior lab use, and on-site parking.
Property Size5,000 SF
Price / SF$82
Days on Market363
Property Features for 143 Midler Park Dr
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
15
Property subtype
INDUSTRIAL
Additional Details
Clear Height
15 ft
Building Details
Construction
roll out roof block building
Listing Agency:
Sutton Real Estate Company - Corporate
(315) 243-4678
Listed By:
Kenneth Tyminski · License #30TY0923669
(315) 243-4678
Source:
Moodyscre
Added: Sep 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:25PM
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 Sutton Real Estate Company - Corporate
Investment Insights
Based on property information with market context.
This flex space contains approximately 5,000 square feet in a block-constructed building with a maximum ceiling height of approximately 15 feet. The property was previously configured for lab use and offers an adaptable commercial layout for a range of potential purposes.
Located at 143 Midler Park Dr in Syracuse, the property includes approximately 15 parking spaces. Its combination of flexible space, substantial ceiling clearance, and existing parking supports a variety of commercial occupancy plans.
Located at 143 Midler Park Dr in Syracuse, the property includes approximately 15 parking spaces. Its combination of flexible space, substantial ceiling clearance, and existing parking supports a variety of commercial occupancy plans.
Key Highlights
- Approx 5000+/- SF of flex space
- Previously configured as lab space
- Maximum ceiling height: approx. 15 feet
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
$22,288
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
5.44%
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%
$445,760
$445.8K
Cap Rate 7%
$318,400
$318.4K
Cap Rate 9%
$247,644
$247.6K
Market Conditions
NOI Build-Up for 5,000 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
$34.2K $6.84/SF
− Vacancy
−$2.4K −$0.47/SF
EGI
$31.8K $6.37/SF
− OpEx
−$9.6K −$1.91/SF
NOI
$22.3K $4.46/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /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%
$445,760
Cap Rate 7%
$318,400
Cap Rate 9%
$247,644
Alternative Uses
Best Use
Flex RnD
$647.7K
$566.7K – $755.6K
NOI $45,338 @ 7.0% cap · market cap 11.06%
Second Best
Industrial
$318.4K
$278.6K – $371.5K
NOI $22,288 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15 ft
Clear height
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Under-served
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 Industrial in Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial space with block construction, prior lab use, and on-site parking.
Where is this flex space located?
The property is located at 143 Midler Park Dr Syracuse, NY.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Approx 5000+/- SF of flex space; Previously configured as lab space; Maximum ceiling height: approx. 15 feet
