Building Details

Year Built 1998

Buildings 1

Stories 1

Units 1

Listing Agency: Sutton Real Estate Company LLC

Listed By: Larry Socia · License #NY 30SO0748875

Source: Crexi

Added: Jul 23 Changed: Sep 5 Last Checked: Sep 14 at 8:13AM

Report an Issue

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 Sutton Real Estate Company LLC

Investment Insights

Based on property information with market context.

This mixed-use redevelopment property offers a flexible path for a new owner to reimagine the site as a multi-tenant building or as several standalone buildings. Built in 1998, the property provides a foundation for an owner seeking to reposition the asset for updated tenant needs.

The property is centrally located near the interchange of Interstates 81 and 90. The location is intended to benefit from increased traffic and population tied to ongoing development of the Micron ChipFab Campus, located 8.4 miles away.

For buyers evaluating redevelopment strategies, this site’s combination of an established building year and strong regional access supports a range of potential configurations, whether targeting multiple tenants within one structure or multiple independent buildings.

Key Highlights

• Redevelopment potential into a multi‑tenant building or several standalone buildings
• Centrally located near the interchange of Interstates 81 and 90
• Micron ChipFab Campus is 8.4 miles away

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

$104,921

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

3.75%

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%

$2,098,420 $2.1M

Cap Rate 7%

$1,498,871 $1.5M

Cap Rate 9%

$1,165,789 $1.2M

Market Conditions

NOI Build-Up for 10,908 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

$163.6K $15.00/SF

− Vacancy

−$23.7K −$2.18/SF

EGI

$139.9K $12.83/SF

− OpEx

−$35.0K −$3.21/SF

NOI

$104.9K $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%

$2,098,420

Cap Rate 7%

$1,498,871

Cap Rate 9%

$1,165,789

Alternative Uses

Best Use

Office B

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,921 @ 7.0% cap · market cap 3.75%

Second Best

Mixed Use

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,845 @ 7.0% cap · market cap 3.49%

Theoretical Best

Office A

$1.90M

$1.66M – $2.21M (±1% cap)

NOI $132,697 @ 7.0% cap · market cap 4.74%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

COVID-19 Drive-Thru Testing ... Medical Laboratory Rite Aid Pharmacy Pharmacy Walgreens Pharmacy higi Physician Western Union Bank

Suggested Use

Top Pick Real Estate Agency Law Firm Gym & Fitness Center Skin Care Clinic Building Supply Daycare Center

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

Location Intelligence

Trade Area within ½ mile

441

Businesses Nearby

Explore this area Business Placement

Demographics for 13211, NY

6,382

Population

2,624

Households

2.4

Avg Household Size

39

Median Age

15%

College-Educated

91%

High-School Grad

4.6 sq mi

ZIP Area

1,387

Density / Sq Mi

$67,672

Median Household Income

$39,118

Median Earnings

$1,073

Median Rent

$115,700

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Centrally located near the I-81 and I-90 interchange with redevelopment potential into multi-tenant or standalone buildings.

Where is this mixed-use property located?

The property is located at 2616 Brewerton Road Mattydale, NY.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: Redevelopment potential into a multi‑tenant building or several standalone buildings; Centrally located near the interchange of Interstates 81 and 90; Micron ChipFab Campus is 8.4 miles away