Office-to-Flex Conversion
For Sale
Contact for pricing
4705 Crossroads Park Dr, Liverpool, NY 13088
Existing office building with partial in-place leasing and significant vacant space for conversion to flex use.
Property Size4,937 SF
Price / SF$64.82
Days on Market67
Property Features for 4705 Crossroads Park Dr
General Information
Standard status
Active
Size
4,937 SF
Property subtype
OFFICE
Listing Agency:
Thresh Enterprises
Listed By:
William Thresh
(315) 437-7301
Source:
Moodyscre
Added: Jul 8
Changed: Aug 27
Last Checked: Sep 12 at 9:24AM
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 Thresh Enterprises
Investment Insights
Based on property information with market context.
4705 Crossroads Park Dr is an approximately 4,937-square-foot office building with a configuration that supports a potential conversion to flex industrial use. The property is currently stabilized as an office, with about 1,500 square feet under in-place leasing, and roughly 3,500 square feet vacant and available for occupancy or further repositioning.
The layout and site are described as conducive to installing dock doors, giving a prospective owner a practical path to update the building’s functionality for flex demand.
For an owner looking to control their real estate, the combination of existing income and available space provides straightforward flexibility, whether the plan is to occupy part of the building, lease it, or proceed with conversion during ownership.
The layout and site are described as conducive to installing dock doors, giving a prospective owner a practical path to update the building’s functionality for flex demand.
For an owner looking to control their real estate, the combination of existing income and available space provides straightforward flexibility, whether the plan is to occupy part of the building, lease it, or proceed with conversion during ownership.
Key Highlights
- 5,000 SF existing office building positioned for conversion into a flex industrial asset
- Currently has 1,500 SF in‑place leasing for immediate income
- 3,500 SF vacant space available to lease or occupy after conversion
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
$22,168
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
6.93%
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%
$443,360
$443.4K
Cap Rate 7%
$316,686
$316.7K
Cap Rate 9%
$246,311
$246.3K
Market Conditions
NOI Build-Up for 4,937 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
$34.0K $6.89/SF
− Vacancy
−$2.3K −$0.48/SF
EGI
$31.7K $6.41/SF
− OpEx
−$9.5K −$1.92/SF
NOI
$22.2K $4.49/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /SF/Yr
Expense Ratio
30.00%
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%
$443,360
Cap Rate 7%
$316,686
Cap Rate 9%
$246,311
Alternative Uses
Best Use
Office B
$743.8K
$650.8K – $867.8K
NOI $52,067 @ 7.0% cap · market cap 16.27%
Second Best
Industrial
$316.7K
$277.1K – $369.5K
NOI $22,168 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$858.0K
$750.7K – $1.00M
NOI $60,059 @ 7.0% cap · market cap 18.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
290
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 13088, NY
22,331
Population
11,242
Households
2
Avg Household Size
43
Median Age
35%
College-Educated
93%
High-School Grad
8.3 sq mi
ZIP Area
2,690
Density / Sq Mi
$73,814
Median Household Income
$46,985
Median Earnings
$1,104
Median Rent
$166,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Existing office building with partial in-place leasing and significant vacant space for conversion to flex use.
Where is this flex space located?
The property is located at 4705 Crossroads Park Dr Liverpool, NY.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 5,000 SF existing office building positioned for conversion into a flex industrial asset; Currently has 1,500 SF in‑place leasing for immediate income; 3,500 SF vacant space available to lease or occupy after conversion
