One-Story Medical Office
For Sale
Contact for pricing
5792 Widewaters Parkway, Syracuse, NY 13214
One-story medical office building with upgraded lobby and suite finishes, offering a vacant move-in-ready space.
Property Size29,432 SF
Price / SF$146.10
Days on Market125
Property Features for 5792 Widewaters Parkway
General Information
Standard status
Active
Size
29,432 SF
Class
A
Property subtype
Office
Zoning
Commercial
Occupancy
89%
Lease Type
Modified Gross
Investment Type
Value Add
Additional Details
Office Units
3
Building Details
Year Built
1986
Buildings
1
Stories
1
Units
116
Tenancy
Multi
Listing Agency:
Jacobson Properties
Listed By:
Lisa Menin · License #NY 31ME0642655
Source:
Crexi
Added: May 6
Changed: Aug 28
Last Checked: Sep 1 at 4:55AM
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 Jacobson Properties
Investment Insights
Based on property information with market context.
Widewaters MOB is a one-story medical office building containing 29,432 square feet and housing three tenant spaces. The tenant suites and lobby area feature upgraded finishes and lighting, supporting a professional healthcare setting.
The property includes a vacant space that is in move-in condition, with minimal landlord investment required. Tenant leases provide for annual rental increases and reimbursement of expenses over a base year, supporting established income structure.
With three suites in total, the building offers an opportunity to accommodate existing tenants while positioning the vacant unit for immediate occupancy.
The property includes a vacant space that is in move-in condition, with minimal landlord investment required. Tenant leases provide for annual rental increases and reimbursement of expenses over a base year, supporting established income structure.
With three suites in total, the building offers an opportunity to accommodate existing tenants while positioning the vacant unit for immediate occupancy.
Key Highlights
- One‑story medical office building built in 1986
- 29,432 SF medical office building with 3 tenant spaces
- Upgraded finishes and lighting in tenant suites and lobby area
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
$283,099
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
6.58%
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%
$5,661,980
$5.7M
Cap Rate 7%
$4,044,271
$4.0M
Cap Rate 9%
$3,145,544
$3.1M
Market Conditions
NOI Build-Up for 29,432 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
$441.5K $15.00/SF
− Vacancy
−$64.0K −$2.18/SF
EGI
$377.5K $12.83/SF
− OpEx
−$94.4K −$3.21/SF
NOI
$283.1K $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%
$5,661,980
Cap Rate 7%
$4,044,271
Cap Rate 9%
$3,145,544
Alternative Uses
Best Use
Office B
$4.04M
$3.54M – $4.72M
NOI $283,099 @ 7.0% cap · market cap 6.58%
Second Best
Healthcare Medical
$3.92M
$3.43M – $4.57M
NOI $274,424 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$5.11M
$4.48M – $5.97M
NOI $358,044 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13214, NY
9,072
Population
3,417
Households
2.7
Avg Household Size
35
Median Age
52%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
2,592
Density / Sq Mi
$93,200
Median Household Income
$34,909
Median Earnings
$998
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Quinn C Barry DVM — 5620 Thompson Rd, Syracuse, NY 13214
- Dewitt Animal Hospital — 5620 Thompson Rd, Syracuse, NY 13214
- Veterinary Medical Center of CNY — 5841 Bridge St, East Syracuse, NY 13057
- Dewitt Veterinary Medical Center — 222 Old Bridge St #300, East Syracuse, NY 13057
Frequently Asked Questions
What type of property is this?
Medical Office Space - One-story medical office building with upgraded lobby and suite finishes, offering a vacant move-in-ready space.
Where is this medical office space located?
The property is located at 5792 Widewaters Parkway Syracuse, NY.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: One‑story medical office building built in 1986; 29,432 SF medical office building with 3 tenant spaces; Upgraded finishes and lighting in tenant suites and lobby area
