Remodeled Live-Work
For Sale
$397,000
5000 W Genesee St, Camillus, NY 13031
Remodeled commercial space with LBO zoning supports office use and the option to live onsite.
Property Size3,376 SF
Days on Market126
Property Features for 5000 W Genesee St
General Information
Standard status
Active
Size
3,376 SF
Property subtype
Commercial
Zoning
LBO
Taxes and HOA fees
Annual Taxes
$8,148
Building Details
Building Size
3,376 SF
Year Built
1950
Listing Agency:
Independent Realty Group
(315) 299-7100
Listed By:
Thomas Kehoskie
(315) 299-7100
Source:
Elliman
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 30 at 3:05PM
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 Independent Realty Group
Investment Insights
Based on property information with market context.
This live-work property combines a remodeled office environment with the ability to reside onsite while operating a business. LBO zoning supports medical offices, accounting practices, law offices, massage services, banking, and other listed office-oriented uses.
Positioned at 5000 W Genesee St in Camillus, the property benefits from approximately 25,000 vehicles passing daily. The building dates to 1950, while the office has been remodeled for current use. A live-work configuration offers a practical setup for an owner-occupant seeking to combine business operations and residence in one property.
Positioned at 5000 W Genesee St in Camillus, the property benefits from approximately 25,000 vehicles passing daily. The building dates to 1950, while the office has been remodeled for current use. A live-work configuration offers a practical setup for an owner-occupant seeking to combine business operations and residence in one property.
Key Highlights
- Live‑work configuration allows a residence alongside business operations
- Remodeled office space with room for business use
- LBO zoning permits medical offices, accountants, lawyers, massage, and banking
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
$35,604
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
8.97%
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%
$712,080
$712.1K
Cap Rate 7%
$508,629
$508.6K
Cap Rate 9%
$395,600
$395.6K
Market Conditions
NOI Build-Up for 3,376 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
$54.7K $16.20/SF
− Vacancy
−$7.2K −$2.14/SF
EGI
$47.5K $14.06/SF
− OpEx
−$11.9K −$3.52/SF
NOI
$35.6K $10.55/SF
Area
Onondaga County, NY
Vacancy
13.20%
Lease Rate
$16.20 /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%
$712,080
Cap Rate 7%
$508,629
Cap Rate 9%
$395,600
Alternative Uses
Best Use
Office B
$508.6K
$445.1K – $593.4K
NOI $35,604 @ 7.0% cap · market cap 8.97%
Second Best
Mixed Use
$449.0K
$392.9K – $523.8K
NOI $31,428 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$586.7K
$513.4K – $684.5K
NOI $41,069 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 13031, NY
16,335
Population
7,414
Households
2.2
Avg Household Size
44
Median Age
45%
College-Educated
96%
High-School Grad
24.3 sq mi
ZIP Area
672
Density / Sq Mi
$92,687
Median Household Income
$56,024
Median Earnings
$1,281
Median Rent
$207,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Remodeled commercial space with LBO zoning supports office use and the option to live onsite.
Where is this live-work space located?
The property is located at 5000 W Genesee St Camillus, NY.
What is the asking price?
The asking price for this property is $397,000.
What are key features of this property?
This property features: Live‑work configuration allows a residence alongside business operations; Remodeled office space with room for business use; LBO zoning permits medical offices, accountants, lawyers, massage, and banking
