Flex Warehouse with Dock
For Sale
Contact for pricing
6489 Ridings Rd, Syracuse, NY 13206
Flex and warehouse space with a dock door, drive-in door, and 10' 9" clear height.
Property Size8,000 SF
Price / SF$99.38
Days on Market31
Property Features for 6489 Ridings Rd
General Information
Standard status
Active
Size
8,000 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
10.8 ft
Dock-High Doors
1
Drive-In Doors
1
Heavy Power
Yes
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 569-7000
Listed By:
Gary Cottet · License #30CO0923433
(315) 569-7000
Source:
Moodyscre
Added: Jul 10
Changed: Jul 28
Last Checked: Jul 28 at 12:00PM
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 - Syracuse
Investment Insights
Based on property information with market context.
This property offers combined office and flex space along with warehouse area, totaling approximately 8,000 square feet, and the interior layout can be reconfigured to fit operational needs. The building includes one truck height dock door and one grade level drive-in door, with a 10' 9" clear height. Utility service is listed as 600A/480V/3-phase power.
The asset is located in the Eastern submarket of Syracuse, New York, about one mile from Carrier Circle.
Depending on configuration, the space supports a range of possible uses noted in the listing, including office/warehouse, hi-tech, light manufacturing, industrial service, and training. The property is described as a former millwright training facility.
The asset is located in the Eastern submarket of Syracuse, New York, about one mile from Carrier Circle.
Depending on configuration, the space supports a range of possible uses noted in the listing, including office/warehouse, hi-tech, light manufacturing, industrial service, and training. The property is described as a former millwright training facility.
Key Highlights
- 5,000± SF office & flex space plus 3,000± SF warehouse space
- Loading features include one truck‑height dock door and one grade‑level drive‑in door
- 10' 9" clear height in the warehouse
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
$72,540
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
9.12%
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%
$1,450,800
$1.5M
Cap Rate 7%
$1,036,286
$1.0M
Cap Rate 9%
$806,000
$806.0K
Market Conditions
NOI Build-Up for 8,000 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
$120.0K $15.00/SF
− Vacancy
−$8.4K −$1.05/SF
EGI
$111.6K $13.95/SF
− OpEx
−$39.1K −$4.88/SF
NOI
$72.5K $9.07/SF
Area
Syracuse, NY
Vacancy
7.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,450,800
Cap Rate 7%
$1,036,286
Cap Rate 9%
$806,000
Alternative Uses
Best Use
Flex RnD
$1.04M
$906.8K – $1.21M
NOI $72,540 @ 7.0% cap · market cap 9.12%
Second Best
Warehouse
$618.6K
$541.3K – $721.7K
NOI $43,303 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,321 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10 ft
Clear height
1
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
544
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 13206, NY
16,599
Population
8,460
Households
2
Avg Household Size
38
Median Age
27%
College-Educated
90%
High-School Grad
4.1 sq mi
ZIP Area
4,049
Density / Sq Mi
$60,314
Median Household Income
$40,429
Median Earnings
$952
Median Rent
$130,300
Median Home Value
Market
Vacancy Rate% for Industrial in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Spectrum Food Services Associates — 202 Twin Oaks Dr, Syracuse, NY 13206
Frequently Asked Questions
What type of property is this?
Flex space - Flex and warehouse space with a dock door, drive-in door, and 10' 9" clear height.
Where is this flex space located?
The property is located at 6489 Ridings Rd Syracuse, NY.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: 5,000± SF office & flex space plus 3,000± SF warehouse space; Loading features include one truck‑height dock door and one grade‑level drive‑in door; 10' 9" clear height in the warehouse
