Renovated Flex
For Sale
$1,650,000
314 Lakeside Road, Syracuse, NY 13209
COMMERCIAL - Syracuse, NY
Property Size13,221 SF
Lot Size0.72 Acres
Price / SF$124.80
Days on Market536
Property Features for 314 Lakeside Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
05
Zoning description
Commercial
Parking
20
Subdivision
Town/Geddes
Lot features
Rectangular, Rectangular Lot
Elementary school district
Solvay
Middle school district
Solvay
High school district
Solvay
Standard status
Active
APN
313289-019-000-0001-018-005-0000
Size
13,221 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
30758
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating)
Building Details
Year built
1974
Floors in Building
1
Flooring type
Linoleum, Vinyl, Concrete
Roof type
Membrane, Rubber
Listing Agency:
Rooftop Realty Group LLC
(315) 944-2198
Listed By:
Andrea Sardo · License #10401316786
(315) 560-3005
Added: Mar 7, 2025
Changed: Aug 19
Last Checked: Aug 25 at 1:06AM
MLS# S1591689
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-space property contains 13,221 square feet of renovated manufacturing and office improvements on a 0.7231-acre parcel. The building dates to 1974 and includes linoleum, vinyl, and concrete flooring, along with membrane and rubber roofing. Heating is provided through natural gas and electric systems, and the property is connected to public sewer.
The facility is located at 314 Lakeside Road in Syracuse, NY, near 690, with ample parking serving the commercial improvements. The property is currently 100% leased and carries zoning designation 05. Its combination of industrial and office areas supports a flexible commercial configuration within an established business setting.
The facility is located at 314 Lakeside Road in Syracuse, NY, near 690, with ample parking serving the commercial improvements. The property is currently 100% leased and carries zoning designation 05. Its combination of industrial and office areas supports a flexible commercial configuration within an established business setting.
Key Highlights
- 13,221 square feet of renovated manufacturing and office space
- 0.7231‑acre parcel with ample parking
- 100% leased commercial property
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
$127,169
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
7.71%
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%
$2,543,380
$2.5M
Cap Rate 7%
$1,816,700
$1.8M
Cap Rate 9%
$1,412,989
$1.4M
Market Conditions
NOI Build-Up for 13,221 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
$198.3K $15.00/SF
− Vacancy
−$28.8K −$2.18/SF
EGI
$169.6K $12.83/SF
− OpEx
−$42.4K −$3.21/SF
NOI
$127.2K $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%
$2,543,380
Cap Rate 7%
$1,816,700
Cap Rate 9%
$1,412,989
Alternative Uses
Best Use
Office B
$1.82M
$1.59M – $2.12M
NOI $127,169 @ 7.0% cap · market cap 7.71%
Second Best
Flex RnD
$1.71M
$1.50M – $2.00M
NOI $119,881 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$2.30M
$2.01M – $2.68M
NOI $160,835 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 13209, NY
13,018
Population
6,374
Households
2
Avg Household Size
43
Median Age
29%
College-Educated
92%
High-School Grad
13.1 sq mi
ZIP Area
994
Density / Sq Mi
$67,307
Median Household Income
$44,812
Median Earnings
$968
Median Rent
$146,200
Median Home Value
Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Sodexo — 100 Osceola Rd, Syracuse, NY 13209
Frequently Asked Questions
What type of property is this?
Flex space - Manufacturing and office areas occupy a leased commercial facility with parking and convenient access near 690.
Where is this flex space located?
The property is located at 314 Lakeside Road Syracuse, NY.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 13,221 square feet of renovated manufacturing and office space; 0.7231‑acre parcel with ample parking; 100% leased commercial property
