Two-Suite Office
New
For Sale
$549,900
430 S Main St, Syracuse, NY 13212
One side is finished for office use, while the other offers open space for a future build-out.
Property Size5,000 SF
Price / SF$109.98
Days on Market4
Property Features for 430 S Main St
General Information
Standard status
Active
Size
5,000 SF
Building Details
Year Built
1968
Listing Agency:
Home With Us Realty Group, LLC
Listed By:
Jason Klink · License #10401298650
(315) 677-7062
Source:
Skinnercnyrealty
Added: Sep 28
Last Checked: Sep 30 at 4:48PM
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.
The 5,000-square-foot office building sits on a 15,000-square-foot lot and is divided into two sections: a finished 2,900-square-foot office suite and 2,100 square feet of open shell space. The completed suite has private offices, two conference rooms, updated flooring, new walls and doors, and CAT6 cabling. Building systems and improvements include new furnaces, central air conditioning on both sides, upgraded electrical panels, a flat roof, exterior steel doors, a security camera system, and a replacement hot water tank. The property was built in 1968.
Access to I-81 and I-481 is convenient, and Syracuse Hancock International Airport is approximately 3 miles away. The layout supports separate occupancy of the two sections or use of the building as a single office property.
Access to I-81 and I-481 is convenient, and Syracuse Hancock International Airport is approximately 3 miles away. The layout supports separate occupancy of the two sections or use of the building as a single office property.
Key Highlights
- 5,000 SF office building on a 15,000 SF lot
- 2,900 SF finished office suite and 2,100 SF open shell space
- Two conference rooms with CAT6 and electrical for AV equipment
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
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Open Analytics
Current Use
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
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Market
Vacancy Rate% for Office in Syracuse, NY
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Frequently Asked Questions
What type of property is this?
Office building - One side is finished for office use, while the other offers open space for a future build-out.
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 and 2,100 SF open shell space; Two conference rooms with CAT6 and electrical for AV equipment
