Renovated Office
For Sale
$344,900
407 N Main Street, Cicero, NY 13212
Corner-lot commercial property with substantial on-site parking and updated building systems.
Property Size1,350 SF
Price / SF$255.48
Days on Market74
Property Features for 407 N Main Street
General Information
Standard status
Active
Size
1,350 SF
Additional Details
Corner Location
Yes
Building Details
Buildings
1
Listing Agency:
Hunt Real Estate ERA
Listed By:
Edward DePalma · License #10401331506
(315) 699-3200
Source:
Nicholcityrealty
Added: Aug 13
Changed: Oct 21
Last Checked: Oct 24 at 5:40PM
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 Hunt Real Estate ERA
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This office building, constructed in 1967, has been renovated throughout and includes a new furnace and hot water tank. The property was previously used for office operations and offers a commercial layout that can continue in that format. It sits on a corner lot with a large on-site parking area. Furniture may also be available with the property, subject to agreement.
Key Highlights
- Building constructed in 1967
- Renovated throughout for continued commercial use
- New furnace and hot water tank
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,237
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,740
$284.7K
Cap Rate 7%
$203,386
$203.4K
Cap Rate 9%
$158,189
$158.2K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$21.9K $16.20/SF
− Vacancy
−$2.9K −$2.14/SF
EGI
$19.0K $14.06/SF
− OpEx
−$4.7K −$3.52/SF
NOI
$14.2K $10.55/SF
Area
Onondaga County, NY
Vacancy
13.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$284,740
Cap Rate 7%
$203,386
Cap Rate 9%
$158,189
Alternative Uses
Best Use
Office B
$203.4K
$178.0K – $237.3K
NOI $14,237 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$234.6K
$205.3K – $273.7K
NOI $16,423 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 13212, NY
20,220
Population
9,213
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
11.1 sq mi
ZIP Area
1,822
Density / Sq Mi
$74,931
Median Household Income
$45,740
Median Earnings
$1,027
Median Rent
$157,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Corner-lot commercial property with substantial on-site parking and updated building systems.
Where is this office building located?
The property is located at 407 N Main Street Cicero, NY.
What is the asking price?
The asking price for this property is $344,900.
What are key features of this property?
This property features: Building constructed in 1967; Renovated throughout for continued commercial use; New furnace and hot water tank
