Flex Building with Warehouse
New
For Sale
$395,000
1914 Teall Ave, Syracuse, NY 13206
A divided front-and-rear layout pairs customer-facing space with a substantial area for storage or operations.
Property Size5,120 SF
Price / SF$77.15
Days on Market2
Property Features for 1914 Teall Ave
General Information
Standard status
Active
Size
5,120 SF
Warehouse & Industrial
Clear Height
12 ft
Clear Span
Yes
Warehouse Space
2,964 SF
Drive-In Doors
1
Three-Phase Power
Yes
Additional Details
Road Access
Yes
Amenities
kitchenette/break room
half bathrooms
LED lighting
exterior LED lighting
sign pole
Building Details
Year Built
1964
Buildings
1
Building Size
5,120 SF
Listing Agency:
Hunt Real Estate ERA
Listed By:
Dante Belmonte · License #10401323828
(315) 446-4681
Source:
Skinnercnyrealty
Added: Sep 26
Last Checked: Sep 26 at 2:24PM
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 Hunt Real Estate ERA
Investment Insights
Based on property information with market context.
The 5,120-square-foot flex building at 1914 Teall Ave includes a 1,520-square-foot front area and a 2,964-square-foot rear area. Ceiling height is 12 feet, with 10 feet of clear span, and the building has three-phase electrical service. The rear is reached through a 7-foot-8-inch-wide by 7-foot-tall garage door. Two half bathrooms and a kitchenette/break room are also provided.
Recent work includes an EPDM roof installed in August 2026, a rear furnace and plumbing replacement from the slab in 2022, and electrical updates at the panel in 2023. Floors were diamond-ground and coated in 2024; the kitchenette, break room, and both half bathrooms were renovated in 2025. LED lighting was added to the front interior in 2024 and outside in 2023. The garage door opener was replaced with a direct-drive model, and the parking lot was sealed and striped in 2024.
A lighted sign pole at the road can accommodate a large sign. More than 15,000 cars pass by daily. The building was constructed in 1964.
Recent work includes an EPDM roof installed in August 2026, a rear furnace and plumbing replacement from the slab in 2022, and electrical updates at the panel in 2023. Floors were diamond-ground and coated in 2024; the kitchenette, break room, and both half bathrooms were renovated in 2025. LED lighting was added to the front interior in 2024 and outside in 2023. The garage door opener was replaced with a direct-drive model, and the parking lot was sealed and striped in 2024.
A lighted sign pole at the road can accommodate a large sign. More than 15,000 cars pass by daily. The building was constructed in 1964.
Key Highlights
- 5,120 SF flex building with 1,520 SF front area and 2,964 SF rear area
- Rear access through a 7'8" wide by 7' tall garage door
- 12' ceilings, 10' clear span, and 3 phase electrical
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
$27,714
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
7.02%
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%
$554,280
$554.3K
Cap Rate 7%
$395,914
$395.9K
Cap Rate 9%
$307,933
$307.9K
Market Conditions
NOI Build-Up for 5,120 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
$35.0K $6.84/SF
− Vacancy
−$2.4K −$0.47/SF
EGI
$32.6K $6.37/SF
− OpEx
−$4.9K −$0.96/SF
NOI
$27.7K $5.41/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
15.00%
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%
$554,280
Cap Rate 7%
$395,914
Cap Rate 9%
$307,933
Alternative Uses
Best Use
Flex RnD
$663.2K
$580.3K – $773.8K
NOI $46,426 @ 7.0% cap · market cap 11.75%
Second Best
Warehouse
$395.9K
$346.4K – $461.9K
NOI $27,714 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$889.8K
$778.6K – $1.04M
NOI $62,285 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
752
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Syracuse, NY
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Frequently Asked Questions
What type of property is this?
Flex space - A divided front-and-rear layout pairs customer-facing space with a substantial area for storage or operations.
Where is this flex space located?
The property is located at 1914 Teall Ave Syracuse, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 5,120 SF flex building with 1,520 SF front area and 2,964 SF rear area; Rear access through a 7'8" wide by 7' tall garage door; 12' ceilings, 10' clear span, and 3 phase electrical
