Industrial Property with Multiple
For Sale
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5970 Butternut Dr, East Syracuse, NY 13057
Industrial facility with 5-ton and 2-ton cranes and multiple grade-level doors across three structures.
Property Size9,450 SF
Price / SF$158.73
Days on Market51
Property Features for 5970 Butternut Dr
General Information
Standard status
Active
Size
9,450 SF
Property subtype
Industrial
Zoning
Industrial
Additional Details
Road Access
Yes
Drive-In Doors
7
Building Details
Buildings
3
Tenancy
Multi
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company Syracuse
Listed By:
Donald O'Leary · License #NY 10301201742
Source:
Crexi
Added: Jul 16
Changed: Aug 24
Last Checked: Sep 3 at 9:34AM
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 Cushman & Wakefield Pyramid Brokerage Company Syracuse
Investment Insights
Based on property information with market context.
This industrial property includes three total structures arranged for shop and maintenance use. The main building features an office and shop area with four grade level doors, plus a former apartment on the 2nd floor that is currently used as storage (400+/- SF). There is also a garage maintenance building with three grade level doors, along with a small shed. Overhead equipment includes a 5-ton crane and a 2-ton crane.
The site offers approximately 700' of frontage on Butternut, near the corner of Manlius Center Road, supporting a practical layout for customer and operational access. The property also has room for additional parking if needed or for building expansion.
Overall, the improvements provide dock/grade-level access and on-site overhead lifting capacity, with office space included in the main building.
The site offers approximately 700' of frontage on Butternut, near the corner of Manlius Center Road, supporting a practical layout for customer and operational access. The property also has room for additional parking if needed or for building expansion.
Overall, the improvements provide dock/grade-level access and on-site overhead lifting capacity, with office space included in the main building.
Key Highlights
- Approximately 700' frontage on Butternut Road near the corner of Manlius Center Road
- Includes a 5‑ton overhead crane and a 2‑ton crane
- Main building features an office and shop plus 4 grade‑level doors
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
$42,433
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
2.83%
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%
$848,660
$848.7K
Cap Rate 7%
$606,186
$606.2K
Cap Rate 9%
$471,478
$471.5K
Market Conditions
NOI Build-Up for 9,450 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
$65.1K $6.89/SF
− Vacancy
−$4.5K −$0.48/SF
EGI
$60.6K $6.41/SF
− OpEx
−$18.2K −$1.92/SF
NOI
$42.4K $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%
$848,660
Cap Rate 7%
$606,186
Cap Rate 9%
$471,478
Alternative Uses
Best Use
Industrial
$606.2K
$530.4K – $707.2K
NOI $42,433 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $114,960 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Drive-in doors
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 13057, NY
14,676
Population
6,744
Households
2.2
Avg Household Size
46
Median Age
31%
College-Educated
93%
High-School Grad
27.7 sq mi
ZIP Area
530
Density / Sq Mi
$77,908
Median Household Income
$47,531
Median Earnings
$990
Median Rent
$159,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial facility with 5-ton and 2-ton cranes and multiple grade-level doors across three structures.
Where is this manufacturing property located?
The property is located at 5970 Butternut Dr East Syracuse, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Approximately 700' frontage on Butternut Road near the corner of Manlius Center Road; Includes a 5‑ton overhead crane and a 2‑ton crane; Main building features an office and shop plus 4 grade‑level doors
