Flex and Industrial Office
For Sale
Contact for pricing
200 Gateway Park Dr, Syracuse, NY 13212
Multi-building flex and industrial property with shared and private office suites and ample surface parking.
Property Size20,000 SF
Price / SF$84.75
Days on Market245
Property Features for 200 Gateway Park Dr
General Information
Standard status
Active
Size
20,000 SF
Class
B
Property subtype
Industrial, Office
Zoning
Commercial
Lease Type
NNN
Building Details
Year Built
1987
Buildings
3
Stories
1
Tenancy
Multi
Listing Agency:
JWP Commercial
Listed By:
Joshua W. Podkaminer, SIOR, CCIM · License #NY
(315) 415-6030
Source:
Crexi
Added: Feb 19
Changed: Oct 15
Last Checked: Oct 20 at 5:13PM
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 JWP Commercial
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Investment Insights
Based on property information with market context.
A nearly 20,000-square-foot Class B flex and industrial property available for sale, arranged across three standalone but neighboring buildings. The offering includes more than 100 rooms and two conference rooms, along with a mix of shared and private office suites designed for flexible occupancy.
The buildings include ample surface parking. The property also features multiple established tenants, offering income-producing potential with configurations that can accommodate change over time.
For buyers or investors seeking a combined office-and-flex setup, this property provides a campus-style arrangement with several suite options within multiple neighboring structures.
The buildings include ample surface parking. The property also features multiple established tenants, offering income-producing potential with configurations that can accommodate change over time.
For buyers or investors seeking a combined office-and-flex setup, this property provides a campus-style arrangement with several suite options within multiple neighboring structures.
Key Highlights
- Nearly 20,000 SF of Class B flex and industrial space in Syracuse, NY
- Three standalone but neighboring buildings totaling 100+ rooms
- Two conference rooms plus shared and private office suite configurations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,153
Cap Rate
5.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,783,060
$1.8M
Cap Rate 7%
$1,273,614
$1.3M
Cap Rate 9%
$990,589
$990.6K
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$136.8K $6.84/SF
− Vacancy
−$9.4K −$0.47/SF
EGI
$127.4K $6.37/SF
− OpEx
−$38.2K −$1.91/SF
NOI
$89.2K $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%
$1,783,060
Cap Rate 7%
$1,273,614
Cap Rate 9%
$990,589
Alternative Uses
Best Use
Office B
$2.75M
$2.40M – $3.21M
NOI $192,375 @ 7.0% cap · market cap 11.35%
Second Best
Flex RnD
$2.59M
$2.27M – $3.02M
NOI $181,350 @ 7.0% cap · market cap 10.70%
Theoretical Best
Office A
$3.48M
$3.04M – $4.06M
NOI $243,302 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Under-served
Demand for This Use
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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
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Market
Vacancy Rate% for Office in Syracuse, NY
Frequently Asked Questions
What type of property is this?
Flex space - Multi-building flex and industrial property with shared and private office suites and ample surface parking.
Where is this flex space located?
The property is located at 200 Gateway Park Dr 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: Nearly 20,000 SF of Class B flex and industrial space in Syracuse, NY; Three standalone but neighboring buildings totaling 100+ rooms; Two conference rooms plus shared and private office suite configurations
