Flex Space with Warehouse
For Sale
Contact for pricing
203 Bagg St, East Syracuse, NY 13057
Two adjoining units combine warehouse, office, loading, power, and outdoor storage capabilities.
Property Size7,320 SF
Price / SF$81.97
Days on Market156
Property Features for 203 Bagg St
General Information
Standard status
Active
Size
7,320 SF
Class
B
Property subtype
Industrial
Zoning
General Commercial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20 ft
Drive-In Doors
2
Power
200 amps
Voltage
240 V
Three-Phase Power
Yes
Building Details
Buildings
1
Units
2
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company Syracuse
Listed By:
Gary Cottet · License #NY 30CO0923433
(315) 445-8529
Source:
Crexi
Added: Apr 13
Changed: Sep 10
Last Checked: Sep 14 at 5:50AM
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 Cushman & Wakefield Pyramid Brokerage Company Syracuse
Investment Insights
Based on property information with market context.
This 7,320-square-foot flex property comprises Units 203-A and 203-B, offering a combined warehouse and office configuration. Unit 203-A includes 1,680± SF of warehouse and 2,640± SF of office space across two levels, with the option to reconfigure for additional warehouse area. Unit 203-B provides 2,328± SF of warehouse and 672± SF of office space. Each unit has a 12’ x 12’ grade-level overhead door, while the warehouse areas feature 20’ clear height and floor drains. The property is served by 200A/240V/3 Phase incoming power and includes yard area for parking or outside storage.
Located at 203 Bagg St in East Syracuse, the property offers access to I-690 and I-481 via nearby Bridge Street. The building can be delivered fully vacant for a single end user.
Located at 203 Bagg St in East Syracuse, the property offers access to I-690 and I-481 via nearby Bridge Street. The building can be delivered fully vacant for a single end user.
Key Highlights
- 7,320 SF total flex property with warehouse and office areas
- Unit 203‑A: 1,680± SF warehouse and 2,640± SF two‑level office
- Unit 203‑B: 2,328± SF warehouse and 672± SF office
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
$39,912
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
6.65%
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%
$798,240
$798.2K
Cap Rate 7%
$570,171
$570.2K
Cap Rate 9%
$443,467
$443.5K
Market Conditions
NOI Build-Up for 7,320 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
$50.4K $6.89/SF
− Vacancy
−$3.5K −$0.48/SF
EGI
$47.0K $6.41/SF
− OpEx
−$7.0K −$0.96/SF
NOI
$39.9K $5.45/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /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%
$798,240
Cap Rate 7%
$570,171
Cap Rate 9%
$443,467
Alternative Uses
Best Use
Office B
$1.10M
$965.0K – $1.29M
NOI $77,198 @ 7.0% cap · market cap 12.87%
Second Best
Warehouse
$570.2K
$498.9K – $665.2K
NOI $39,912 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,049 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Two adjoining units combine warehouse, office, loading, power, and outdoor storage capabilities.
Where is this flex space located?
The property is located at 203 Bagg St East Syracuse, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 7,320 SF total flex property with warehouse and office areas; Unit 203‑A: 1,680± SF warehouse and 2,640± SF two‑level office; Unit 203‑B: 2,328± SF warehouse and 672± SF office
