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    109 Taft Rd North Syracuse, NY 13212

    Sponsored
    For Lease
    $12 SF/Yr ($6,400 /Mo)

    Prime Office Suites, Newly Renovated

    Lot size:
    6,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional commercial property, located at 109 E Taft Rd, North Syracuse, NY 13212, offers 6,400 square feet of versatile office space, ideally suited for traditional or medical office uses. The property features two buildings, each two stories high, situated on one acre of land and conveniently located near Main Street (Rt. 11) and South Bay. Currently, 2,900 square feet are available, divisible into suites ranging from 1,300 to 1,600 contiguous square feet. The property boasts ample parking with 30 spaces available. Recently renovated in 2023, this Class B building offers modern amenities and is equipped with electric and gas power. The property is zoned for Commercial Retail and Office use, making it a highly desirable location for a variety of businesses. Built in 1965, this property benefits from recent upgrades while maintaining a functional and efficient layout. The property's location in North Syracuse provides easy access to major transportation routes and benefits from the significant economic growth spurred by Micron's substantial investment in the region. This presents a unique opportunity to establish a presence in a thriving and expanding market.

    Property Features for 109 Taft Rd

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,400 SF
    Class
    B
    Total Rate
    6400

    Building Details

    Year Built/Renovated
    1965/2023
    Buildings
    2
    Stories
    2

    Unit(s) available at that property

    Space
    Available Space 2 Former Medical Clinic
    Size
    1,600 SF
    Rate per SF
    $12
    Space
    Space 201
    Size
    1,300 SF
    Rate per SF
    $12

    HighLights

    • Two‑building property with three available suites.
    • Ample parking: 30+ spaces.
    • Office building totaling 2,900+/- SF, divisible into two suites (1,300 SF and 1,600 SF), previously used as clinical space.
    • Convenient access via curb cuts on Taft and Lawrence Avenues.
    • High visibility and easy access to Interstates 81, 481, and the NYS Thruway.
    Property Profile Location Intelligence

    Current Use by Public Records

    Herb-Z | Cannabis Dispensary Cannabis Store Herb-Z Cannabis Store Tantrum City Rage ... Amusement Center

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.140583209947
    Latitude
    43.122662695328

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    FAQs

    What type of property is this?
    Medical office - Prime Office Suites, Newly Renovated
    Where is this medical office located?
    The property is located at 109 Taft Rd North Syracuse, NY.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Two-building property with three available suites.; Ample parking: 30+ spaces.; Office building totaling 2,900+/- SF, divisible into two suites (1,300 SF and 1,600 SF), previously used as clinical space.
    Request Owner's contact information
    109 Taft Rd North Syracuse, NY 13212
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    North Syracuse, NY 13212
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    109 Taft Rd North Syracuse, NY 13212
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