Building Details

Tenancy Multi

Listing Agency: Howard Hanna Real Estate d***@howardhanna.com Show Phone

Listed By: Dylan Wise Show Phone

Source: Exprealty

Added: Aug 16, 2025 Changed: Aug 15 Last Checked: Aug 16 at 9:46AM

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Investment Insights

Based on property information with market context.

This mixed-use property on 4 Slocombe Ave offers multiple configuration options, with 4 possible units comprised of three commercial/mixed-use spaces and a 2-bedroom apartment on the top floor. The building has undergone a recent transformation, including new siding, roofing elements, roof windows, porches, steps, and gutters. Current commercial setups include three office spaces plus a large front flex space. The left side includes two large spaces and a kitchen, and each of the three commercial spaces has its own separate bathroom.

The lower level features high ceilings and was previously used as a daycare, with direct walk-out access to the back parking lot for potential loading or unloading. The property includes 8 designated parking spaces, along with additional spaces shared with the town; the town maintains the parking lot. An electric charging port is also available.

With mixed-use zoning and a mix of office-ready rooms, a large flex area, and a walk-out lower level, the building can support a range of business and service uses. A buyer or operator can also consider occupying portions of the commercial space while generating residential income from the top-floor apartment, while leveraging the on-site parking layout for tenant and customer convenience.

Key Highlights

• Updated mixed‑use building with 3 commercial/mixed‑use spaces and a 2‑bedroom apartment on the top floor
• Recently transformed exterior: new siding, roof, windows, porches, steps, and gutters
• Commercial layout includes 3 office spaces plus a large front flex space, with multiple possible uses

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

$34,054

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

7.57%

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%

$681,080 $681.1K

Cap Rate 7%

$486,486 $486.5K

Cap Rate 9%

$378,378 $378.4K

Market Conditions

NOI Build-Up for 7,584 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

$52.3K $6.89/SF

− Vacancy

−$3.6K −$0.48/SF

EGI

$48.6K $6.41/SF

− OpEx

−$14.6K −$1.92/SF

NOI

$34.1K $4.49/SF

Area

Onondaga County, NY

Vacancy

6.90%

Lease Rate

$6.89 /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%

$681,080

Cap Rate 7%

$486,486

Cap Rate 9%

$378,378

Alternative Uses

Best Use

Office B

$1.14M

$999.8K – $1.33M (±1% cap)

NOI $79,982 @ 7.0% cap · market cap 17.77%

Second Best

Mixed Use

$1.01M

$882.5K – $1.18M (±1% cap)

NOI $70,602 @ 7.0% cap · market cap 15.69%

Theoretical Best

Office A

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,260 @ 7.0% cap · market cap 20.50%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office Units

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Bakery Carpet & Flooring Store Veterinary Clinic Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

268

Businesses Nearby

Explore this area Business Placement

Demographics for 13108, NY

6,054

Population

2,799

Households

2.2

Avg Household Size

47

Median Age

47%

College-Educated

97%

High-School Grad

29.7 sq mi

ZIP Area

204

Density / Sq Mi

$90,377

Median Household Income

$51,467

Median Earnings

$993

Median Rent

$232,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Updated mixed-use building offering multiple commercial spaces and a 2-bedroom apartment with dedicated parking.

Where is this mixed-use property located?

The property is located at 4 Slocombe Ave Marcellus, NY.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Updated mixed‑use building with 3 commercial/mixed‑use spaces and a 2‑bedroom apartment on the top floor; Recently transformed exterior: new siding, roof, windows, porches, steps, and gutters; Commercial layout includes 3 office spaces plus a large front flex space, with multiple possible uses