Freestanding Office Building with
New
For Sale
$480,000
6555 Ridings Rd, Dewitt, NY 13206
Single-tenant property includes private offices, conference areas, and customer-service space.
Property Size4,076 SF
Lot Size1.30 Acres
Price / SF$117.76
Days on Market2
Property Features for 6555 Ridings Rd
General Information
Standard status
Active
Size
4,076 SF
Lot size
1.30 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,424
Amenities
private offices
conference areas
break room
drive-thru infrastructure
Building Details
Building Size
4,076 SF
Year Built
1980
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
(315) 522-3194
Listed By:
Eric O'Mara
(315) 522-3194
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 8:01AM
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 Eric O'Mara
Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 4,076 SF on approximately 1.3 acres. The single-tenant layout includes private offices, conference areas, a break room, restrooms, and customer-service space, along with on-site parking and drive-through infrastructure. Built in 1980, the building is configured for office and service-oriented operations.
The property is located at 6555 Ridings Rd in DeWitt, NY, with access from Ridings Road. Its existing configuration supports professional office, financial services, medical, insurance, retail, and service uses, as identified for the property. The combination of building area, land, parking, and drive-through improvements provides a practical commercial setting for an owner-user or operator.
The property is located at 6555 Ridings Rd in DeWitt, NY, with access from Ridings Road. Its existing configuration supports professional office, financial services, medical, insurance, retail, and service uses, as identified for the property. The combination of building area, land, parking, and drive-through improvements provides a practical commercial setting for an owner-user or operator.
Key Highlights
- Approximately 4,076 SF office building on approximately 1.3 acres
- Freestanding, single‑tenant configuration
- Private offices, conference areas, break room, and restrooms
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
$39,206
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
8.17%
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%
$784,120
$784.1K
Cap Rate 7%
$560,086
$560.1K
Cap Rate 9%
$435,622
$435.6K
Market Conditions
NOI Build-Up for 4,076 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
$61.1K $15.00/SF
− Vacancy
−$8.9K −$2.18/SF
EGI
$52.3K $12.83/SF
− OpEx
−$13.1K −$3.21/SF
NOI
$39.2K $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%
$784,120
Cap Rate 7%
$560,086
Cap Rate 9%
$435,622
Alternative Uses
Best Use
Office B
$560.1K
$490.1K – $653.4K
NOI $39,206 @ 7.0% cap · market cap 8.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$708.4K
$619.8K – $826.4K
NOI $49,585 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Single-tenant property includes private offices, conference areas, and customer-service space.
Where is this office building located?
The property is located at 6555 Ridings Rd Dewitt, NY.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Approximately 4,076 SF office building on approximately 1.3 acres; Freestanding, single‑tenant configuration; Private offices, conference areas, break room, and restrooms
