Industrial Property Near I-690 &
For Sale
Contact for pricing
3584 Walters Rd, Syracuse, NY
NNN leased investment property with credit tenant, 8+ acres.
Property Size32,000 SF
Lot Size109.00 Acres
Price / SF$73.44
Days on Market414
Property Features for 3584 Walters Rd
General Information
Standard status
Active
Size
32,000 SF
Lot size
109.00 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Icon Companies - Corporate
(315) 299-6292
Listed By:
Grazi Zazzara · License #46000047478
Source:
Moodyscre
Added: Sep 11, 2025
Changed: Oct 26
Last Checked: Oct 28 at 9:29AM
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 Icon Companies - Corporate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This NNN leased investment property at 3584 Walters Rd. offers over 8 acres and 23,000 square feet. The location is conveniently near I-690 and I-90. A publicly traded credit tenant occupies 100% of the premises and is responsible for all expenses and maintenance. The tenant is Royal Adhesives and Sealants, which was acquired by HB Fuller, a multibillion-dollar global company with headquarters in Minnesota and over $3.5 billion in annual revenue. The buildout is highly specialized, making relocation cost-prohibitive. The site benefits from low-cost electricity provided by Solvay Municipal Electric System, which has been in existence since 1896. All public utilities, including sewer, water, gas, and electric, are available on site. The property size is 32,000 square feet.
Key Highlights
- NNN Leased investment property with a publicly traded credit tenant.
- Tenant responsible for all expenses and maintenance.
- Highly specialized buildout makes relocation cost‑prohibitive for the tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,644
Cap Rate
6.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,852,880
$2.9M
Cap Rate 7%
$2,037,771
$2.0M
Cap Rate 9%
$1,584,933
$1.6M
Market Conditions
NOI Build-Up for 32,000 SF
Gross rent
$218.9K $6.84/SF
− Vacancy
−$15.1K −$0.47/SF
EGI
$203.8K $6.37/SF
− OpEx
−$61.1K −$1.91/SF
NOI
$142.6K $4.46/SF
Area
Syracuse, NY
Vacancy
6.90%
Lease Rate
$6.84 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,852,880
Cap Rate 7%
$2,037,771
Cap Rate 9%
$1,584,933
Alternative Uses
Best Use
Industrial
$2.04M
$1.78M – $2.38M
NOI $142,644 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.56M
$4.87M – $6.49M
NOI $389,284 @ 7.0% cap · market cap 16.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Syracuse, NY
Frequently Asked Questions
What type of property is this?
Manufacturing property - NNN leased investment property with credit tenant, 8+ acres.
Where is this manufacturing property located?
The property is located at 3584 Walters Rd Syracuse, NY.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: NNN Leased investment property with a publicly traded credit tenant.; Tenant responsible for all expenses and maintenance.; Highly specialized buildout makes relocation cost‑prohibitive for the tenant.
