Flexible Two-Side Office
For Sale
$549,900
205 MAIN ST, Syracuse, NY 13212
Professional office improvements on one side pair with open shell space for a tailored commercial build-out.
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$109.98
Days on Market49
Property Features for 205 MAIN ST
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.34 Acres
Property subtype
General Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$10,030
Amenities
Gas
3
Flat
8 Parking Spaces.
100X150
Building Details
Year Built
1968
Buildings
1
Stories
1
Listing Agency:
Home With Us Realty Group, LLC
(315) 677-7062
Listed By:
Jason Klink · License #10401298650
(315) 677-7062
Source:
Xome
Added: Jul 13
Changed: Aug 29
Last Checked: Aug 30 at 1:38PM
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 Home With Us Realty Group, LLC
Investment Insights
Based on property information with market context.
This 5,000-square-foot office building is arranged as two distinct areas that can support owner occupancy, multiple tenants, or a combined operating plan. The 2,900-square-foot finished side includes private offices, two conference rooms prepared for virtual meetings, CAT6 cabling, updated carpet tile, new walls and doors, added insulation, and fresh paint. The 2,100-square-foot open shell area allows a future occupant or owner to design its own interior layout.
Building improvements include new furnaces, central air conditioning on both sides, upgraded electrical panels, exterior signage service with timer-controlled lighting, new steel exterior doors, a security camera system with audio, video, and infrared capability, a rear emergency stair, and a new hot water tank. The property also has a 15,000-square-foot lot with 8 parking spaces.
The site is on South Main Street with access to I-81 and I-481 and is approximately 3 miles from Syracuse Hancock International Airport. Professional office, medical or dental, insurance, financial, and technology uses are identified as suitable applications.
Building improvements include new furnaces, central air conditioning on both sides, upgraded electrical panels, exterior signage service with timer-controlled lighting, new steel exterior doors, a security camera system with audio, video, and infrared capability, a rear emergency stair, and a new hot water tank. The property also has a 15,000-square-foot lot with 8 parking spaces.
The site is on South Main Street with access to I-81 and I-481 and is approximately 3 miles from Syracuse Hancock International Airport. Professional office, medical or dental, insurance, financial, and technology uses are identified as suitable applications.
Key Highlights
- 5,000 SF office building on a 15,000 SF lot
- Two distinct areas: 2,900 SF finished office suite and 2,100 SF open shell space
- Finished side includes private offices, two conference rooms, CAT6 cabling, and upgraded electrical panels
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
$48,094
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
8.75%
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%
$961,880
$961.9K
Cap Rate 7%
$687,057
$687.1K
Cap Rate 9%
$534,378
$534.4K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$10.9K −$2.18/SF
EGI
$64.1K $12.83/SF
− OpEx
−$16.0K −$3.21/SF
NOI
$48.1K $9.62/SF
Area
Syracuse, NY
Vacancy
14.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$961,880
Cap Rate 7%
$687,057
Cap Rate 9%
$534,378
Alternative Uses
Best Use
Office B
$687.1K
$601.2K – $801.6K
NOI $48,094 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
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 Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office improvements on one side pair with open shell space for a tailored commercial build-out.
Where is this office building located?
The property is located at 205 MAIN ST Syracuse, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 5,000 SF office building on a 15,000 SF lot; Two distinct areas: 2,900 SF finished office suite and 2,100 SF open shell space; Finished side includes private offices, two conference rooms, CAT6 cabling, and upgraded electrical panels
