Freestanding Flex and Showroom
647 W Genesee St Syracuse, NY 13204
For Sale
$2,495,000
Free-standing building with showroom, flex/service space, overhead doors, and ample on-site parking for versatile commercial use.
Property Size37,170 SF
Lot Size1.45 Acres
Price / SF$67.12
Days on Market53
Property Features for 647 W Genesee St
General Information
Standard status
Active
Size
37,170 SF
Lot size
1.45 Acres
Property subtype
Free Standing Building
Building Details
Year Built
1940
Listing Agency:
Bridgeway Commercial Realty, LLC
(315) 254-2027
Listed By:
Tom Lischak, CCIM · License #10491204314
(315) 254-2027
Source:
Thebrokerlist
Added: Jun 7
Changed: Jul 10
Last Checked: Jul 29 at 3:31AM
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 Bridgeway Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This freestanding commercial building spans 37,170 +/- SF and sits on a 1.45 +/- acre parcel with on-site parking. The former automobile dealership/showroom configuration supports a flexible multi-tenant layout, with high ceilings, large open areas, and overhead/grade-level doors suitable for showroom, flex, service, storage, and related uses.
Ownership has completed and/or commenced major modernization work, including a new roof, new front showroom windows, interior painting, updated finishes, planned ceiling work, insulation upgrades, HVAC improvements, and bathroom renovations. The property also features strong visibility and frontage at W Genesee Street, with overhead access that can accommodate a variety of operational needs. Existing month-to-month tenancy may provide flexibility for a buyer while plans for a planned event/banquet concept, The Giselle Manor, are pursued.
For owner-users and tenants seeking adaptable commercial space, the mix of showroom presentation, functional overhead door access, and substantial open interior areas aligns well with businesses that need both customer-facing space and operational/storage requirements. The property’s Syracuse setting places it near downtown amenities and active areas such as Armory Square and Clinton Square, with convenient access to major highways and public transportation.
Ownership has completed and/or commenced major modernization work, including a new roof, new front showroom windows, interior painting, updated finishes, planned ceiling work, insulation upgrades, HVAC improvements, and bathroom renovations. The property also features strong visibility and frontage at W Genesee Street, with overhead access that can accommodate a variety of operational needs. Existing month-to-month tenancy may provide flexibility for a buyer while plans for a planned event/banquet concept, The Giselle Manor, are pursued.
For owner-users and tenants seeking adaptable commercial space, the mix of showroom presentation, functional overhead door access, and substantial open interior areas aligns well with businesses that need both customer-facing space and operational/storage requirements. The property’s Syracuse setting places it near downtown amenities and active areas such as Armory Square and Clinton Square, with convenient access to major highways and public transportation.
Key Highlights
- 37,170 +/- SF free‑standing commercial building on a 1.45 +/- acre parcel with on‑site parking in Syracuse, NY.
- Former automobile dealership/showroom with a flexible multi‑tenant layout including showroom, flex, service, storage, and event/owner‑user potential.
- Major renovations underway for 2025, including a new roof, new front showroom windows, interior painting, HVAC improvements, and insulation upgrades.
Financial Insights For Warehouse
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 | $254.2k | $6.84 |
| − Vacancy | −$17.5k | −$0.47 |
| EGI | $236.7k | $6.37 |
| − OpEx | −$35.5k | −$0.96 |
| NOI | $201.2k | $5.41 |
37,170 SF · lease $6.84/SF/yr · vacancy 6.90% · expense 15.00%
Alternative Uses
Best Use
Flex RnD
$4.81M
$4.21M – $5.62M
NOI $337,039 @ 7.0% cap · market cap 13.51%
Second Best
Warehouse
$2.87M
$2.51M – $3.35M
NOI $201,195 @ 7.0% cap · market cap 8.06%
Theoretical Best
Office A
$6.46M
$5.65M – $7.54M
NOI $452,178 @ 7.0% cap · market cap 18.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
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- Pure catering and Events — 250-298 E Fayette St, Syracuse, NY 13202
- CONGO BOX — 629 W Fayette St, Syracuse, NY 13203
Frequently Asked Questions
What type of property is this?
Flex space - Free-standing building with showroom, flex/service space, overhead doors, and ample on-site parking for versatile commercial use.
Where is this flex space located?
The property is located at 647 W Genesee St Syracuse, NY.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: 37,170 +/- SF free‑standing commercial building on a 1.45 +/- acre parcel with on‑site parking in Syracuse, NY.; Former automobile dealership/showroom with a flexible multi‑tenant layout including showroom, flex, service, storage, and event/owner‑user potential.; Major renovations underway for 2025, including a new roof, new front showroom windows, interior painting, HVAC improvements, and insulation upgrades.
