Flexible-Layout Office
For Sale
$549,900
430 S Main St, Syracuse, NY 13212
Two-part configuration combines a finished professional suite with adaptable shell space for owner occupancy or multiple users.
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$109.98
Days on Market39
Property Features for 430 S Main St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.34 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1968
Buildings
1
Building Size
5,000 SF
Listing Agency:
Home With Us Realty Group, LLC
(315) 677-7062
Listed By:
Jason Klink · License #10401298650
Source:
Rooftoprealtygroup
Added: Jul 25
Changed: Aug 30
Last Checked: Aug 31 at 7:48PM
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 Home With Us Realty Group, LLC
Investment Insights
Based on property information with market context.
This 5,000 SF office building on a 15,000 SF lot is organized into two separate areas. The 2,900 SF finished side contains private offices, sound-insulated office construction, two conference rooms equipped for virtual meetings, CAT6 cabling, AV-ready electrical connections, updated carpet tile, new interior walls and doors, insulation, and fresh paint. The 2,100 SF opposing area is open shell space that can be configured by an owner or tenant. New furnaces and central air serve both sides, while additional improvements include upgraded electrical panels, exterior signage power with timer-controlled lighting, a security camera system with infrared capability, a new hot water tank, steel exterior doors, and a rear emergency stairway.
The property is located on South Main Street in North Syracuse, with access to I-81 and I-481. Syracuse Hancock International Airport is approximately 3 miles away. The building was constructed in 1968 and includes a replaced OCWA water main and meter.
The property is located on South Main Street in North Syracuse, with access to I-81 and I-481. Syracuse Hancock International Airport is approximately 3 miles away. The building was constructed in 1968 and includes a replaced OCWA water main and meter.
Key Highlights
- 5,000 SF office building on a 15,000 SF lot
- 2,900 SF finished office suite with private offices and two conference rooms
- 2,100 SF open shell area for custom build‑out
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
$48,094
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
8.75%
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%
$961,880
$961.9K
Cap Rate 7%
$687,057
$687.1K
Cap Rate 9%
$534,378
$534.4K
Market Conditions
NOI Build-Up for 5,000 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
$75.0K $15.00/SF
− Vacancy
−$10.9K −$2.18/SF
EGI
$64.1K $12.83/SF
− OpEx
−$16.0K −$3.21/SF
NOI
$48.1K $9.62/SF
Area
Syracuse, NY
Vacancy
14.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$961,880
Cap Rate 7%
$687,057
Cap Rate 9%
$534,378
Alternative Uses
Best Use
Office B
$687.1K
$601.2K – $801.6K
NOI $48,094 @ 7.0% cap · market cap 8.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.9K
$760.3K – $1.01M
NOI $60,826 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
690
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 Syracuse, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-part configuration combines a finished professional suite with adaptable shell space for owner occupancy or multiple users.
Where is this office building located?
The property is located at 430 S Main St Syracuse, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 5,000 SF office building on a 15,000 SF lot; 2,900 SF finished office suite with private offices and two conference rooms; 2,100 SF open shell area for custom build‑out
