Building Details

Construction Block Construction

Listing Agency: JWP Commercial Show Phone

Listed By: Joshua W. Podkaminer, SIOR, CCIM Show Phone

Source: Moodyscre

Added: Jul 6 Changed: Oct 25 Last Checked: Oct 30 at 5:02PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This is a high-quality three-building office/flex industrial complex with solid block construction and a mix of grade-level and dock-level access. The site has seen recent improvements, including paving and roof work.

The property is positioned in a central location with excellent interstate access. It is also within close proximity to Hancock International Airport and the Micron site in Clay, NY.

The complex is currently described as having solid tenants, supporting its appeal for either an owner/investor or a straight investor seeking stabilized holdings with value-add potential.

Key Highlights

• Three‑building office/flex complex with grade‑level and dock‑level access
• Recent improvements include paving and roof work
• Block construction across the complex

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,237

Cap Rate

4.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,604,740 $1.6M

Cap Rate 7%

$1,146,243 $1.1M

Cap Rate 9%

$891,522 $891.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 18,000 SF

Gross rent

$123.1K $6.84/SF

− Vacancy

−$8.5K −$0.47/SF

EGI

$114.6K $6.37/SF

− OpEx

−$34.4K −$1.91/SF

NOI

$80.2K $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 Rate 5%

$1,604,740

Cap Rate 7%

$1,146,243

Cap Rate 9%

$891,522

Alternative Uses

Best Use

Office B

$2.47M

$2.16M – $2.89M (±1% cap)

NOI $173,138 @ 7.0% cap · market cap 10.21%

Second Best

Flex RnD

$2.33M

$2.04M – $2.72M (±1% cap)

NOI $163,215 @ 7.0% cap · market cap 9.63%

Theoretical Best

Office A

$3.13M

$2.74M – $3.65M (±1% cap)

NOI $218,972 @ 7.0% cap · market cap 12.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Edison Electricians of Syracuse Electrical Service D & M Litigation ... Law Firm New York & Bermuda ... Charitable Organization Kristine Mims Physician Church World Services ... Charitable Organization

Suggested Use

Top Pick Dental Office Storage Facility Cafe & Coffee Shop Garden Center (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

430

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 13212, NY

20,220

Population

9,213

Households

2.2

Avg Household Size

45

Median Age

28%

College-Educated

93%

High-School Grad

11.1 sq mi

ZIP Area

1,822

Density / Sq Mi

$74,931

Median Household Income

$45,740

Median Earnings

$1,027

Median Rent

$157,400

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - Three-building office/flex complex with grade-level and dock-level access and recent paving and roof improvements.

Where is this flex space located?

The property is located at 200 Gateway Park Dr North Syracuse, NY.

What is the asking price?

The asking price for this property is $1,695,000.

What are key features of this property?

This property features: Three‑building office/flex complex with grade‑level and dock‑level access; Recent improvements include paving and roof work; Block construction across the complex