Flex Space Building with Office and
2970 E Genesee St Syracuse, NY 13224
New
For Sale
$295,000
Flex space building on a long frontage site with office area, garage storage, two bathrooms, and lifts.
Days on Market3
Property Features for 2970 E Genesee St
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1945
Listing Agency:
Coldwell Banker Prime Prop,Inc
(315) 446-2910
Listed By:
Susan Li · License #30LI0956504
(315) 446-2910
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 29 at 12:33PM
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 Coldwell Banker Prime Prop,Inc
Investment Insights
Based on property information with market context.
Flex space building with an office area designed for everyday administrative paperwork, plus extra storage space in the garage. The building also includes two bathrooms and two lifts serving the garage area.
Set on a site with 155 feet of road frontage and a newly paved driveway sized to accommodate 25 vehicles. Located at 2970 E Genesee St in Syracuse, NY 13224. Built in 1945.
The property’s configuration supports a mix of office and operational space, with garage storage and lift service for day-to-day workflow. Please check with the City regarding zoning, variances, and other potential usage options.
Set on a site with 155 feet of road frontage and a newly paved driveway sized to accommodate 25 vehicles. Located at 2970 E Genesee St in Syracuse, NY 13224. Built in 1945.
The property’s configuration supports a mix of office and operational space, with garage storage and lift service for day-to-day workflow. Please check with the City regarding zoning, variances, and other potential usage options.
Key Highlights
- 155 feet of road frontage
- Newly paved driveway sized for 25 vehicles
- Office area for everyday administrative paperwork
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.1k | $15.00 |
| − Vacancy | −$3.8k | −$2.18 |
| EGI | $22.3k | $12.83 |
| − OpEx | −$5.6k | −$3.21 |
| NOI | $16.7k | $9.62 |
1,740 SF · lease $15.00/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$239.1K
$209.2K – $279.0K
NOI $16,737 @ 7.0% cap · market cap 5.67%
Second Best
Flex RnD
$225.4K
$197.2K – $263.0K
NOI $15,777 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$302.4K
$264.6K – $352.8K
NOI $21,167 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Flex space building on a long frontage site with office area, garage storage, two bathrooms, and lifts.
Where is this flex space located?
The property is located at 2970 E Genesee St Syracuse, NY.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 155 feet of road frontage; Newly paved driveway sized for 25 vehicles; Office area for everyday administrative paperwork
