Built Commissary Kitchen
For Sale
Contact for pricing
6491 Collamer Rd, East Syracuse, NY 13057
Fully built commissary kitchen with flexible layout and street frontage suitable for conversion to office or retail.
Property Size1,572 SF
Price / SF$190.20
Days on Market57
Property Features for 6491 Collamer Rd
General Information
Standard status
Active
Size
1,572 SF
Property subtype
Retail, Office
Building Details
Year Built
1935
Listing Agency:
Papyrus Business Solutions
(315) 877-5113
Listed By:
Scott Dumas · License #NY 10351216188
Source:
Crexi
Added: Jun 12
Changed: Jul 10
Last Checked: Aug 7 at 6:39AM
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 Papyrus Business Solutions
Investment Insights
Based on property information with market context.
This property is a fully built 1,572 SF commissary kitchen designed for immediate use. The space offers a flexible floor plan, and the property’s elevation changes are described as lending themselves to installing a loading door, supporting commissary operations. A partial basement is also available for storage (estimated 600 SF), with storage area not included in the PSF rates referenced in the remarks.
The site provides strong street-facing presence along Collamer Rd, with convenient access north via Schuyler to Taft or via Northern Blvd to I-481/81. The combination of flexible configuration and street frontage also supports alternative uses if the space is repurposed.
For buyers or tenants seeking a ready-to-operate food service support space, the commissary kitchen buildout can reduce initial start-up work. The flexible floor plan and street frontage provide a practical path for adapting the property to office or retail use, depending on operational needs. The optional partial basement storage further supports day-to-day back-of-house requirements.
The site provides strong street-facing presence along Collamer Rd, with convenient access north via Schuyler to Taft or via Northern Blvd to I-481/81. The combination of flexible configuration and street frontage also supports alternative uses if the space is repurposed.
For buyers or tenants seeking a ready-to-operate food service support space, the commissary kitchen buildout can reduce initial start-up work. The flexible floor plan and street frontage provide a practical path for adapting the property to office or retail use, depending on operational needs. The optional partial basement storage further supports day-to-day back-of-house requirements.
Key Highlights
- Fully built 1,572 SF commissary kitchen, ready to go
- Flexible floor plan with street frontage that supports conversion to office or retail
- Street frontage on Collamer with easy access north on Schuyler to Taft or Northern Blvd to I‑481/I‑81
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
$16,579
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
5.54%
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%
$331,580
$331.6K
Cap Rate 7%
$236,843
$236.8K
Cap Rate 9%
$184,211
$184.2K
Market Conditions
NOI Build-Up for 1,572 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
$25.5K $16.20/SF
− Vacancy
−$3.4K −$2.14/SF
EGI
$22.1K $14.06/SF
− OpEx
−$5.5K −$3.52/SF
NOI
$16.6K $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%
$331,580
Cap Rate 7%
$236,843
Cap Rate 9%
$184,211
Alternative Uses
Best Use
Office B
$236.8K
$207.2K – $276.3K
NOI $16,579 @ 7.0% cap · market cap 5.54%
Second Best
Industrial
$100.8K
$88.2K – $117.7K
NOI $7,059 @ 7.0% cap · market cap 2.36%
Theoretical Best
Office A
$273.2K
$239.1K – $318.7K
NOI $19,124 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
284
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Fully built commissary kitchen with flexible layout and street frontage suitable for conversion to office or retail.
Where is this commercial kitchen located?
The property is located at 6491 Collamer Rd East Syracuse, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Fully built 1,572 SF commissary kitchen, ready to go; Flexible floor plan with street frontage that supports conversion to office or retail; Street frontage on Collamer with easy access north on Schuyler to Taft or Northern Blvd to I‑481/I‑81
