Office Building with Split
For Sale
$549,900
430 S Main Street, Syracuse, NY 13212
Well-maintained office building offers a built-out suite plus adjacent open shell space on a 15,000 SF lot.
Property Size5,000 SF
Lot Size0.34 Acres
Price / SF$109.98
Days on Market39
Property Features for 430 S Main Street
General Information
Standard status
Active
Size
5,000 SF
Total Parking Spaces
8
Lot size
0.34 Acres
Property subtype
Commercial
Zoning
01, Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,030
Amenities
soundproof insulation
virtual-conference-capable conference rooms
pre-wired with CAT6 and electrical for AV equipment
updated carpet-tile flooring
replacement tiles on hand
new walls, insulation, doors, and fresh paint throughout
upgraded electrical system with new panels and CAT6 data cabling to every workspace
new furnaces and central air conditioning
flat roof with new soffit
new exterior steel doors
rear emergency exit steel staircase with concrete pad
upgraded electrical service to exterior signage with timer-controlled lighting
security camera system with audio/video and infrared capability
new hot water tank
interwoven fireproof insulation in main dividing wall
replaced OCWA water main and meter
Building Details
Building Size
5,000 SF
Year Built
1968
Buildings
1
Stories
1
Units
2
Listing Agency:
Home With Us Realty Group, LLC
(315) 677-7062
Listed By:
Jason Klink · License #10401298650
(315) 677-7062
Source:
Homeprocny
Added: Jul 16
Changed: Aug 23
Last Checked: Aug 23 at 3:38AM
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.
Well-maintained 5,000 SF office building on a 15,000 SF lot offers two distinct sides for flexible occupancy. The right side is fully built out as a professional office suite with multiple private offices featuring soundproof insulation, two conference rooms with CAT6 and electrical pre-wiring for AV equipment, and updated carpet-tile flooring with replacement tiles on hand. This build-out includes new walls, insulation, doors, and fresh paint throughout, along with upgraded electrical service, new panels, and CAT6 data cabling to every workspace.
The left side provides 2,100 SF of open shell space ready for a custom tenant or owner build-out. Building-wide improvements include new furnaces and central air conditioning on both sides, a flat roof with new soffit, new exterior steel doors, and a rear emergency exit steel staircase with a concrete pad. Additional upgrades include a security camera system with audio/video and infrared capability, upgraded electrical service to exterior signage with timer-controlled lighting, and a new hot water tank, with a main dividing wall incorporating interwoven fireproof insulation.
The property is located on South Main Street in the established business corridor of North Syracuse, with convenient access to I-81 and I-481 and approximately 3 miles from Syracuse Hancock International Airport. The OCWA water main and meter have been replaced.
The left side provides 2,100 SF of open shell space ready for a custom tenant or owner build-out. Building-wide improvements include new furnaces and central air conditioning on both sides, a flat roof with new soffit, new exterior steel doors, and a rear emergency exit steel staircase with a concrete pad. Additional upgrades include a security camera system with audio/video and infrared capability, upgraded electrical service to exterior signage with timer-controlled lighting, and a new hot water tank, with a main dividing wall incorporating interwoven fireproof insulation.
The property is located on South Main Street in the established business corridor of North Syracuse, with convenient access to I-81 and I-481 and approximately 3 miles from Syracuse Hancock International Airport. The OCWA water main and meter have been replaced.
Key Highlights
- Well‑maintained 5,000 SF commercial office building on a 15,000 SF lot on S Main St in North Syracuse.
- Two distinct sides for flexible use: 2,900 SF right side fully built out as a professional office suite.
- Right‑side build‑out includes multiple private offices with soundproof insulation and two virtual‑conference‑capable conference rooms pre‑wired with CAT6 and electrical.
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
Healthcare Medical
$666.0K
$582.8K – $777.0K
NOI $46,620 @ 7.0% cap · market cap 8.48%
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
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 - Well-maintained office building offers a built-out suite plus adjacent open shell space on a 15,000 SF lot.
Where is this office building located?
The property is located at 430 S Main Street 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: Well‑maintained 5,000 SF commercial office building on a 15,000 SF lot on S Main St in North Syracuse.; Two distinct sides for flexible use: 2,900 SF right side fully built out as a professional office suite.; Right‑side build‑out includes multiple private offices with soundproof insulation and two virtual‑conference‑capable conference rooms pre‑wired with CAT6 and electrical.
