Flex Property with Heated
New
For Sale
$2,600,000
3541-3547 State Route 31, Baldwinsville, NY 13027
Two-building commercial property with office, conference, and heated storage space.
Property Size15,000 SF
Price / SF$173.33
Days on Market5
Property Features for 3541-3547 State Route 31
General Information
Standard status
Active
Size
15,000 SF
Property subtype
Retail
Listed By:
Cory LaDuke, SIOR · License #Associate Real Estate Broker
(315) 422-4200
Source:
Cbre
Added: Sep 20
Last Checked: Sep 24 at 8:11AM
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 Cory LaDuke, SIOR
Investment Insights
Based on property information with market context.
This flex property includes a 12,300 SF main building and a separate 2,700 SF heated garage on a 3.9-acre parcel. The main structure provides office space, a conference room, and two garage doors measuring 9’ x 7.5’. The rear building is configured for storage and includes four 10’ x 10’ overhead doors, 14’ clear height, heating, and a private restroom.
The property is located at 3541-3547 State Route 31 in Baldwinsville, within the Town of Clay. NC-1 Neighborhood Commercial zoning applies. The combined buildings total 15,000 SF, offering a mix of office, service, storage, and garage areas within a two-building commercial layout.
The property is located at 3541-3547 State Route 31 in Baldwinsville, within the Town of Clay. NC-1 Neighborhood Commercial zoning applies. The combined buildings total 15,000 SF, offering a mix of office, service, storage, and garage areas within a two-building commercial layout.
Key Highlights
- 12,300 SF main building plus 2,700 SF heated rear garage
- 3.9‑acre property with two commercial buildings
- Rear garage includes four 10’ x 10’ overhead doors
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
$181,062
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
6.96%
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%
$3,621,240
$3.6M
Cap Rate 7%
$2,586,600
$2.6M
Cap Rate 9%
$2,011,800
$2.0M
Market Conditions
NOI Build-Up for 15,000 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
$270.0K $18.00/SF
− Vacancy
−$11.3K −$0.76/SF
EGI
$258.7K $17.24/SF
− OpEx
−$77.6K −$5.17/SF
NOI
$181.1K $12.07/SF
Area
Onondaga County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,621,240
Cap Rate 7%
$2,586,600
Cap Rate 9%
$2,011,800
Alternative Uses
Best Use
Retail
$2.59M
$2.26M – $3.02M
NOI $181,062 @ 7.0% cap · market cap 6.96%
Second Best
Warehouse
$1.17M
$1.02M – $1.36M
NOI $81,786 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$2.61M
$2.28M – $3.04M
NOI $182,477 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13027, NY
34,507
Population
15,276
Households
2.3
Avg Household Size
44
Median Age
45%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
515
Density / Sq Mi
$91,369
Median Household Income
$55,805
Median Earnings
$1,258
Median Rent
$226,500
Median Home Value
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 - Two-building commercial property with office, conference, and heated storage space.
Where is this flex space located?
The property is located at 3541-3547 State Route 31 Baldwinsville, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 12,300 SF main building plus 2,700 SF heated rear garage; 3.9‑acre property with two commercial buildings; Rear garage includes four 10’ x 10’ overhead doors
