Class A Office
500 Plum Street Syracuse, NY 13204
500 Plum Street, Syracuse, NY, 13204
Contact for pricing
For Sale
Contact for pricing
Class A office building offering sweeping downtown and waterfront views in Syracuse’s Franklin Square neighborhood.
Property Size125,270 SF
Price / SF$107.77
Days on Market9
Property Features for 500 Plum Street
General Information
- Standard status
- Active
- Size
- 125,270 SF
- Property subtype
- Office
Building Details
- Year Built
- 1916
Listing agency
CBRE - Syracuse
Listed by
Cory LaDuke, SIOR · License #NY 1030121526
Source
Crexi
Added: Jul 14 Updated: Jul 22 at 5:36PM Checked: Jul 22 at 5:36PM
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 CBRE - Syracuse
Investment Insights
Based on property information with market context.
Bridgewater Place is a Class A office building for sale at 500 Plum Street. The property totals approximately 125,270 square feet and presents an architectural presence on the Syracuse skyline. CBRE Upstate NY is offering the opportunity to acquire the building known for the views it frames from within its office environment.
Located in the Franklin Square neighborhood, Bridgewater Place offers sweeping views of downtown, the newly renovated Onondaga Creekwalk, Onondaga Lake, and the Inner Harbor. The building’s setting and outlook provide a distinctive backdrop for day-to-day business from the office floors.
Located in the Franklin Square neighborhood, Bridgewater Place offers sweeping views of downtown, the newly renovated Onondaga Creekwalk, Onondaga Lake, and the Inner Harbor. The building’s setting and outlook provide a distinctive backdrop for day-to-day business from the office floors.
Key Highlights
- Class A office building at 500 Plum Street in Syracuse, NY
- Approximately 125,270 SF Class A office building
- Built in 1916
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.88M | $15.00 |
| − Vacancy | −$272.5k | −$2.18 |
| EGI | $1.61M | $12.83 |
| − OpEx | −$401.6k | −$3.21 |
| NOI | $1.20M | $9.62 |
125,270 SF · lease $15.00/SF/yr · vacancy 14.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$17.21M
$15.06M – $20.08M
NOI $1,204,941 @ 7.0% cap · market cap 8.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$21.77M
$19.05M – $25.40M
NOI $1,523,925 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Michael O'Connor
Law Firm
ComSource, Inc.
Tech Support Center
John DeLaney
Law Firm
CBRE Upstate NY
Real Estate Agency
Dibenedetto Donald S
Law Firm
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FAQs
What type of property is this?
Office building - Class A office building offering sweeping downtown and waterfront views in Syracuse’s Franklin Square neighborhood.
Where is this office building located?
The property is located at 500 Plum Street Syracuse, NY.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: Class A office building at 500 Plum Street in Syracuse, NY; Approximately 125,270 SF Class A office building; Built in 1916
