Fully Leased Industrial
For Sale
Contact for pricing
4223 James St, East Syracuse, NY 13057
Income-producing industrial property in East Syracuse with highway access.
Property Size6,250 SF
Lot Size0.71 Acres
Price / SF$144
Days on Market175
Property Features for 4223 James St
General Information
Standard status
Active
Size
6,250 SF
Lot size
0.71 Acres
Property subtype
Industrial
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
1984
Listing Agency:
IronHorn Enterprises
Listed By:
Ryan Jenkins · License #0225268974
Source:
Crexi
Added: Feb 20
Changed: Aug 12
Last Checked: Aug 14 at 8:35AM
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 IronHorn Enterprises
Investment Insights
Based on property information with market context.
The property at 4223 James Street in East Syracuse is a fully leased industrial building. Constructed in 1984, the building provides 6,250 square feet of space on a 0.71-acre lot. It features 14-foot clear heights and is equipped with four drive-in doors. The property is suitable for service, light industrial, or contractor operations. On-site space is available for parking or outdoor storage. Situated along the James Street corridor in East Syracuse, the location provides access to I-690 and proximity to I-481 and the NYS Thruway (I-90), placing it minutes from Syracuse and regional industrial and logistics centers. This location supports tenant demand and investment stability.
Key Highlights
- Fully leased, income‑producing industrial property.
- Strategic location with immediate access to I‑690 and proximity to I‑481 and the NYS Thruway (I‑90).
- Features 6,250 square feet on 0.71 acres.
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
$34,078
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
3.79%
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%
$681,560
$681.6K
Cap Rate 7%
$486,829
$486.8K
Cap Rate 9%
$378,644
$378.6K
Market Conditions
NOI Build-Up for 6,250 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
$43.1K $6.89/SF
− Vacancy
−$3.0K −$0.48/SF
EGI
$40.1K $6.41/SF
− OpEx
−$6.0K −$0.96/SF
NOI
$34.1K $5.45/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /SF/Yr
Expense Ratio
15.00%
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%
$681,560
Cap Rate 7%
$486,829
Cap Rate 9%
$378,644
Alternative Uses
Best Use
Warehouse
$486.8K
$426.0K – $568.0K
NOI $34,078 @ 7.0% cap · market cap 3.79%
Second Best
Industrial
$400.9K
$350.8K – $467.7K
NOI $28,064 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.09M
$950.4K – $1.27M
NOI $76,032 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Income-producing industrial property in East Syracuse with highway access.
Where is this warehouse located?
The property is located at 4223 James St East Syracuse, NY.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Fully leased, income‑producing industrial property.; Strategic location with immediate access to I‑690 and proximity to I‑481 and the NYS Thruway (I‑90).; Features 6,250 square feet on 0.71 acres.
