Multi-Story Office Building with
For Sale
Contact for pricing
717 E Genesee St, Syracuse, NY 13210
Approximate 6,000 SF office building with 10-space private parking and renovated second-floor offices.
Property Size6,000 SF
Price / SF$120.83
Days on Market64
Property Features for 717 E Genesee St
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
10
Property subtype
OFFICE
Building Details
Stories
3
Listing Agency:
Sutton Real Estate Company - Corporate
(315) 424-1111
Listed By:
Kenneth Tyminski · License #30TY0923669
(315) 243-4678
Source:
Moodyscre
Added: Jul 14
Changed: Sep 7
Last Checked: Sep 14 at 11:33AM
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 - Corporate
Investment Insights
Based on property information with market context.
Approx. 6,000 SF, multi-story office building with a private parking lot featuring 10 spaces. The first floor was previously used as a dentist office and is in need of updating, while the second floor offers fully renovated office space. The third floor is described as part of the old mansion the building used to be, and the property also includes a clean basement.
The building is located next to the Park View Hotel. Off-street parking is available on site via the private lot.
With space distributed across multiple floors and a renovated second floor, the building offers a mix of office configurations within the existing structure.
The building is located next to the Park View Hotel. Off-street parking is available on site via the private lot.
With space distributed across multiple floors and a renovated second floor, the building offers a mix of office configurations within the existing structure.
Key Highlights
- Approx. 6,000 SF office building next to the Park View Hotel
- Private parking lot with 10 spaces
- 2nd floor 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
—
—
no second resolved use
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
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Current Use
Location Intelligence
Trade Area within ½ mile
2,281
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Syracuse, NY
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Frequently Asked Questions
What type of property is this?
Office building - Approximate 6,000 SF office building with 10-space private parking and renovated second-floor offices.
Where is this office building located?
The property is located at 717 E Genesee St 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 fully renovated office space
