2967 Us Route 11, Lafayette, NY 13084

Building Details

Year Built 1970 More

Buildings 1 More

Building Size 8,510 SF More

Listing Agency: Keller Williams Syracuse k***@kw.com Show Phone

Listed By: Karen E Whalen · License NY #10301219318 Show Phone

Source: Exprealty

Added: Sep 18 Changed: Nov 13 Last Checked: Nov 12 at 11:00AM

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Investment Insights

Based on property information with market context.

This flex-space property combines front-office accommodations with a broad open warehouse and supplemental storage areas. The front section includes multiple offices, additional work space, and two bathrooms, while the rear portion has two overhead garage doors for loading and vehicle access. The building was constructed in 1970 and features gas heat, a septic system, and a groundwater well.

The approximately 2.78-acre site includes paved parking and loading areas around the building. The property has frontage along Route 11, 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. Its combination of office, warehouse, and access features supports a range of commercial operations.

Key Highlights

• Approximately 2.78‑acre site with paved parking and loading areas
• Open warehouse layout with multiple offices, work space, storage, and two bathrooms
• Rear section includes two overhead garage doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$45,800

Cap Rate

9.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$916,000 $916.0K

Cap Rate 7%

$654,286 $654.3K

Cap Rate 9%

$508,889 $508.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,400 SF

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 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 (±1% cap)

NOI $45,800 @ 7.0% cap · market cap 9.18%

Second Best

Industrial

$538.8K

$471.5K – $628.6K (±1% cap)

NOI $37,718 @ 7.0% cap · market cap 7.56%

Theoretical Best

Office A

$1.46M

$1.28M – $1.70M (±1% cap)

NOI $102,187 @ 7.0% cap · market cap 20.48%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop Building Supply Cafe & Coffee Shop Garden Center 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

2

Drive-in doors

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Balanced

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

Market

Average Price Trend$/SF for Flex space in Onondaga County, NY

$68.64 Jul

$69.75 Aug

$76.09 Sep

$74 Oct

Properties on Market for Flex space in Onondaga County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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$499,000

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Multi-Tenant Office Building

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$995,000

9,416 SF

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Frequently Asked Questions

What type of property is this?

Flex space - Flexible commercial building with offices, open warehouse space, storage, and paved areas for parking and loading.

Where is this flex space located?

The property is located at 2967 Us 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; Open warehouse layout with multiple offices, work space, storage, and two bathrooms; Rear section includes two overhead garage doors