Flex Property with Warehouse
New
For Sale
$499,000
2967 Route 11, Lafayette, NY 13084
CommercialSale, La Fayette, NY
Property Size8,510 SF
Lot Size2.78 Acres
Price / SF$59.40
Days on Market3
Property Features for 2967 Route 11
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
05
Zoning description
Commercial
Parking
20
Lot features
Rectangular, Rectangular Lot
Elementary school district
LaFayette
Middle school district
LaFayette
High school district
LaFayette
Directions
Route 11
Subdivision
Lafayette-313400
Standard status
Active
APN
022.-07-03.1
Size
8,400 SF
Lot size
2.78 Acres
Taxes and HOA fees
Tax Annual Amount
10853
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Propane (Heating), Electric (Heating)
Water source
Well
Building Details
Year built
1970
Floors in Building
1
Listing Agency:
Keller Williams Syracuse · Keller Williams Realty
(315) 701-6900
Listed By:
Karen E Whalen · License #10301219318
(315) 663-6633
Added: Sep 18
Last Checked: Sep 20 at 4:06AM
MLS# S1715838
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property at 2967 Route 11 combines a wide-open warehouse area with front offices, additional work space, two bathrooms, and separate storage. The rear portion has two overhead garage doors for receiving and service access. The building was constructed in 1970 and includes gas heat, a septic system, and a groundwater well.
The approximately 2.78-acre site provides paved parking and loading areas around the building. The property has Route 11 frontage with visibility from Interstate 81 and direct access to I-81. The roof was replaced in 2013, and the paved lot was resurfaced approximately five years ago. La Fayette is approximately 12 miles from Syracuse.
The approximately 2.78-acre site provides paved parking and loading areas around the building. The property has Route 11 frontage with visibility from Interstate 81 and direct access to I-81. The roof was replaced in 2013, and the paved lot was resurfaced approximately five years ago. La Fayette is approximately 12 miles from Syracuse.
Key Highlights
- Approximately 2.78‑acre site with paved parking and loading areas
- Approximately 8,510 square feet with warehouse, office, and storage areas
- Two overhead garage doors in the rear section
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
$45,800
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
9.18%
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%
$916,000
$916.0K
Cap Rate 7%
$654,286
$654.3K
Cap Rate 9%
$508,889
$508.9K
Market Conditions
NOI Build-Up for 8,400 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
$57.9K $6.89/SF
− Vacancy
−$4.0K −$0.48/SF
EGI
$53.9K $6.41/SF
− OpEx
−$8.1K −$0.96/SF
NOI
$45.8K $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%
$916,000
Cap Rate 7%
$654,286
Cap Rate 9%
$508,889
Alternative Uses
Best Use
Warehouse
$654.3K
$572.5K – $763.3K
NOI $45,800 @ 7.0% cap · market cap 9.18%
Second Best
Industrial
$538.8K
$471.5K – $628.6K
NOI $37,718 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,187 @ 7.0% cap · market cap 20.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13084, NY
4,101
Population
1,627
Households
2.5
Avg Household Size
47
Median Age
39%
College-Educated
96%
High-School Grad
42.5 sq mi
ZIP Area
96
Density / Sq Mi
$87,917
Median Household Income
$65,893
Median Earnings
$1,285
Median Rent
$200,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial property with warehouse, office, storage, and paved areas for parking and loading.
Where is this flex space located?
The property is located at 2967 Route 11 Lafayette, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Approximately 2.78‑acre site with paved parking and loading areas; Approximately 8,510 square feet with warehouse, office, and storage areas; Two overhead garage doors in the rear section
