Multi-Story Office
For Sale
Contact for pricing
717 E Genesee Street, Syracuse, NY 13210
Six-thousand-square-foot office building with private parking and renovated second-floor space.
Property Size6,000 SF
Price / SF$120.83
Days on Market57
Property Features for 717 E Genesee Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Office
Listing Agency:
Sutton Real Estate Company LLC
(315) 243-4678
Listed By:
Kenneth Tyminski · License #NY 30TY0923669
Source:
Crexi
Added: Jun 12
Changed: Jul 10
Last Checked: Aug 6 at 2:59PM
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 Sutton Real Estate Company LLC
Investment Insights
Based on property information with market context.
This property is an approximately 6,000 SF, multi-story office building with several distinct interior levels. The 1st floor is a former dentist office and is in need of updating. The 2nd floor is fully renovated as office space. The 3rd floor is part of the older mansion portion of the building. A clean basement is also included.
The building is located next to the Park View Hotel and includes a private parking lot with 10 spaces, supporting on-site customer or staff access. The asset is structured to accommodate office use across multiple floors, with separate areas that reflect different build-outs.
For buyers and tenants seeking office space with flexibility across levels, the second floor offers turnkey office functionality given its fully renovated status. The first floor presents an opportunity for an owner-user or investor to reposition space with updates, while the third-floor mansion portion and basement can serve additional office or storage needs consistent with an office redevelopment plan.
The building is located next to the Park View Hotel and includes a private parking lot with 10 spaces, supporting on-site customer or staff access. The asset is structured to accommodate office use across multiple floors, with separate areas that reflect different build-outs.
For buyers and tenants seeking office space with flexibility across levels, the second floor offers turnkey office functionality given its fully renovated status. The first floor presents an opportunity for an owner-user or investor to reposition space with updates, while the third-floor mansion portion and basement can serve additional office or storage needs consistent with an office redevelopment plan.
Key Highlights
- Approx. 6,000 SF office building next to the Park View Hotel
- Private parking lot with 10 spaces
- 2nd floor is fully renovated office space
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
$57,713
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
7.96%
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%
$1,154,260
$1.2M
Cap Rate 7%
$824,471
$824.5K
Cap Rate 9%
$641,256
$641.3K
Market Conditions
NOI Build-Up for 6,000 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
$90.0K $15.00/SF
− Vacancy
−$13.1K −$2.18/SF
EGI
$77.0K $12.83/SF
− OpEx
−$19.2K −$3.21/SF
NOI
$57.7K $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%
$1,154,260
Cap Rate 7%
$824,471
Cap Rate 9%
$641,256
Alternative Uses
Best Use
Office B
$824.5K
$721.4K – $961.9K
NOI $57,713 @ 7.0% cap · market cap 7.96%
Second Best
Healthcare Medical
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$1.04M
$912.4K – $1.22M
NOI $72,991 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,555
Businesses Nearby
Explore this area
Business Placement
Demographics for 13210, NY
23,150
Population
9,774
Households
2.4
Avg Household Size
27
Median Age
50%
College-Educated
92%
High-School Grad
3.8 sq mi
ZIP Area
6,092
Density / Sq Mi
$38,783
Median Household Income
$20,554
Median Earnings
$1,081
Median Rent
$167,200
Median Home Value
Market
Vacancy Rate% for Office in Syracuse, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Six-thousand-square-foot office building with private parking and renovated second-floor space.
Where is this office building located?
The property is located at 717 E Genesee Street Syracuse, NY.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Approx. 6,000 SF office building next to the Park View Hotel; Private parking lot with 10 spaces; 2nd floor is fully renovated office space
