Industrial Property with Drive-In
For Sale
Contact for pricing
1819 LEMOYNE AVE, Syracuse, NY 13208
Industrial-zoned facility with flexible month-to-month occupancy and space for manufacturing, warehousing, distribution, or service operations.
Property Size20,101 SF
Lot Size2.34 Acres
Price / SF$54.72
Days on Market13
Property Features for 1819 LEMOYNE AVE
General Information
Standard status
Active
Size
20,101 SF
Lot size
2.34 Acres
Property subtype
Industrial
Zoning
industrial
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
14 ft
Drive-In Doors
9
Building Details
Year Built
1950
Stories
1
Units
10
Listing Agency:
IronHorn Enterprises
Listed By:
Ryan Jenkins · License #0225268974
Source:
Crexi
Added: Jul 30
Changed: Aug 10
Last Checked: Aug 10 at 5:20AM
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 IronHorn Enterprises
Investment Insights
Based on property information with market context.
The 20,101-square-foot industrial building at 1819 Lemoyne Avenue occupies 2.34 acres and was built in 1950. Its functional configuration includes 14-foot clear heights and nine drive-in doors, providing loading capacity for a range of industrial operations. Industrial zoning supports manufacturing, warehousing, contractor, distribution, and service-related uses.
Current tenants are leasing on a month-to-month basis, giving an owner-user flexibility to occupy the entire facility or transition into selected areas without long-term lease commitments. The property combines an established industrial building with a sizable site and adaptable occupancy structure for businesses planning operational space in Syracuse.
Current tenants are leasing on a month-to-month basis, giving an owner-user flexibility to occupy the entire facility or transition into selected areas without long-term lease commitments. The property combines an established industrial building with a sizable site and adaptable occupancy structure for businesses planning operational space in Syracuse.
Key Highlights
- 20,101 SF industrial building on 2.34 acres
- Nine drive‑in doors and 14' clear heights
- Industrial zoning supports manufacturing, warehousing, contractor, distribution, and service uses
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
$89,603
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
8.15%
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%
$1,792,060
$1.8M
Cap Rate 7%
$1,280,043
$1.3M
Cap Rate 9%
$995,589
$995.6K
Market Conditions
NOI Build-Up for 20,101 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
$137.5K $6.84/SF
− Vacancy
−$9.5K −$0.47/SF
EGI
$128.0K $6.37/SF
− OpEx
−$38.4K −$1.91/SF
NOI
$89.6K $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%
$1,792,060
Cap Rate 7%
$1,280,043
Cap Rate 9%
$995,589
Alternative Uses
Best Use
Warehouse
$1.55M
$1.36M – $1.81M
NOI $108,803 @ 7.0% cap · market cap 9.89%
Second Best
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,603 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$3.49M
$3.06M – $4.08M
NOI $244,531 @ 7.0% cap · market cap 22.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
9
Drive-in doors
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 13208, NY
23,603
Population
10,325
Households
2.3
Avg Household Size
33
Median Age
19%
College-Educated
77%
High-School Grad
4.1 sq mi
ZIP Area
5,757
Density / Sq Mi
$40,641
Median Household Income
$35,015
Median Earnings
$999
Median Rent
$110,300
Median Home Value
Market
Vacancy Rate% for Industrial in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial property - Industrial-zoned facility with flexible month-to-month occupancy and space for manufacturing, warehousing, distribution, or service operations.
Where is this industrial property located?
The property is located at 1819 LEMOYNE AVE Syracuse, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 20,101 SF industrial building on 2.34 acres; Nine drive‑in doors and 14' clear heights; Industrial zoning supports manufacturing, warehousing, contractor, distribution, and service uses
