Industrial Property Near I-690 &
3584 Walters Rd Syracuse, NY
For Sale
Contact for pricing
NNN leased investment property with credit tenant, 8+ acres.
Property Size32,000 SF
Lot Size109.00 Acres
Price / SF$73.44
Days on Market322
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
Source:
Moodyscre
Added: Sep 11, 2025
Changed: Jul 6
Last Checked: Jul 21 at 6:52AM
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
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 For Industrial
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 | $218.9k | $6.84 |
| − Vacancy | −$15.1k | −$0.47 |
| EGI | $203.8k | $6.37 |
| − OpEx | −$61.1k | −$1.91 |
| NOI | $142.6k | $4.46 |
32,000 SF · lease $6.84/SF/yr · vacancy 6.90% · expense 30.00%
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.
Property Analytics
Property Profile
Location Intelligence
Current Use
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.
