Corporate Office and Flex
For Sale
Contact for pricing
6706 Collamer Rd, East Syracuse, NY 13057
Signature office building on 4.29 acres with a flexible plan, built in 2020, plus hi-bay testing space.
Property Size22,779 SF
Lot Size4.29 Acres
Price / SF$267.79
Days on Market43
Property Features for 6706 Collamer Rd
General Information
Standard status
Active
Size
22,779 SF
Class
A
Lot size
4.29 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Clear Height
40 ft
Building Details
Year Built
2020
Tenancy
Single
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Syracuse
(315) 427-7816
Listed By:
Michael Kalet · License #30KA0534709
(315) 427-7816
Source:
Moodyscre
Added: Jul 10
Changed: Jul 25
Last Checked: Jul 25 at 10:04PM
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.
A single-user, corporate (signature) office building totaling approximately 22,779± SF on 4.29± acres. Built in 2020 with a high-end materials and building design, the property offers a flexible floor plan suited to an operations center, call center, and a 50-person training facility.
The building is highly accessible, located off I-481 (soon to be renamed I-81), just north of the NYS Thruway (I-90) Exit 34A. In addition to the office configuration, the site is described as suitable for a drone or hi-bay testing facility, including approximately 5,400± SF of testing space with a 40’± ceiling height and (2) dedicated 18’ overhead doors.
The remarks also reference proximity to major regional investment in Central New York, including an anticipated Micron Technology project (less than 10 miles), as well as Griffiss Business & Technology Park in Rome, NY (less than 30 miles).
The building is highly accessible, located off I-481 (soon to be renamed I-81), just north of the NYS Thruway (I-90) Exit 34A. In addition to the office configuration, the site is described as suitable for a drone or hi-bay testing facility, including approximately 5,400± SF of testing space with a 40’± ceiling height and (2) dedicated 18’ overhead doors.
The remarks also reference proximity to major regional investment in Central New York, including an anticipated Micron Technology project (less than 10 miles), as well as Griffiss Business & Technology Park in Rome, NY (less than 30 miles).
Key Highlights
- 22,779± SF office building on 4.29± acres, built in 2020
- Flexible floor plan for an operations center, call center, or 50‑person training facility
- Hi‑bay/drone or testing capability: 5,400± SF testing facility with 40’± ceiling height and (2) dedicated 18’ overhead 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
$240,232
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
3.94%
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%
$4,804,640
$4.8M
Cap Rate 7%
$3,431,886
$3.4M
Cap Rate 9%
$2,669,244
$2.7M
Market Conditions
NOI Build-Up for 22,779 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
$369.0K $16.20/SF
− Vacancy
−$48.7K −$2.14/SF
EGI
$320.3K $14.06/SF
− OpEx
−$80.1K −$3.52/SF
NOI
$240.2K $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%
$4,804,640
Cap Rate 7%
$3,431,886
Cap Rate 9%
$2,669,244
Alternative Uses
Best Use
Office B
$3.43M
$3.00M – $4.00M
NOI $240,232 @ 7.0% cap · market cap 3.94%
Second Best
Industrial
$1.46M
$1.28M – $1.70M
NOI $102,283 @ 7.0% cap · market cap 1.68%
Theoretical Best
Office A
$3.96M
$3.46M – $4.62M
NOI $277,109 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
40 ft
Clear height
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Well-served
Demand for This Use
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?
Flex space - Signature office building on 4.29 acres with a flexible plan, built in 2020, plus hi-bay testing space.
Where is this flex space located?
The property is located at 6706 Collamer Rd East Syracuse, NY.
What is the asking price?
The asking price for this property is $6,100,000.
What are key features of this property?
This property features: 22,779± SF office building on 4.29± acres, built in 2020; Flexible floor plan for an operations center, call center, or 50‑person training facility; Hi‑bay/drone or testing capability: 5,400± SF testing facility with 40’± ceiling height and (2) dedicated 18’ overhead doors
