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    Property profile & analytics

    201 Main St North Syracuse, NY 13212

    • Commercial real estate
    • 24,215 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6245612
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Joel Bower Agency LLC / Insurance Agency / Auto Insurance Agency
    • Seneca Savings / Bank
    • A American Debt Consolidation / Credit Counseling Service
    • B&B Risk Management Inc. / Insurance Agency / Home Insurance Agency
    • Gold Peak Builders / Custom Home Builder / Home Builder

    Property Details for 201 Main St

    Year built
    1950
    Property size
    24,215 SF
    Property type
    Commercial real estate
    APN
    011.-02-18.0 & 011.-02-19.0

    Description

    This exceptional mixed-use investment opportunity presents two, three-story buildings totaling 24,215 square feet situated on 201 S Main St, Syracuse, NY 13212. The property, encompassing 27 units (24 residential apartments and 3 commercial storefronts), boasts a remarkable 100% occupancy rate since its completion in 2017 following extensive renovations. Each unit features modern amenities including granite countertops, stainless steel appliances, and in-unit washer/dryers. Tenant responsibility for utilities (heat, hot water, electricity) contributes to the property's strong financial performance. Enhanced security measures include key fob access, closed-circuit monitoring, and a fire suppression system. The property also includes an elevator and ample off-street parking (35 spaces). Built in 1950 and renovated in 2017, this Class A property offers a stabilized investment with a current NOI of $221,241 and a 6.91% cap rate. The asking price is $3,200,000, translating to $132.15 per square foot and $118,518.52 per unit. The property's strong performance and desirable features make it an attractive investment opportunity. Parcel numbers are 011.-02-18.0 & 011.-02-19.0. This is a gross lease property with no tenant credit rating.

    Value Estimations

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.129858322334
    Latitude
    43.13496041341

    Comparable in this City

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    Similar Nearby for Sale

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      Taft Road Retail Site

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    Similar Nearby for Lease

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      401 Main St

      Restaurants
      401 Main St, North Syracuse, NY 13212
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      1,500 SF

      Retail Space on Brewerton Road

      Retail space available for lease in Syracuse, NY.
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    • $12 SF/Yr
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      North Syracuse Office Space

      Prime Office Suites, Newly Renovated
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    Property Visit Statistics

    • Visits by month
      18.4k
    • Visitors by month
      9.8k
    • Avg Time on site
      4 min
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    201 Main St
    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
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