Freestanding Commercial Building on
For Sale
Contact for pricing
1810 Erie Blvd E, Syracuse, NY 13210
4,200 SF commercial building on Erie Blvd available for sale.
Property Size4,200 SF
Price / SF$107.14
Days on Market683
Property Features for 1810 Erie Blvd E
General Information
Standard status
Active
Size
4,200 SF
Class
B
Property subtype
Office, Retail
Zoning
MX-2
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company Syracuse
(315) 445-8517
Listed By:
Stephen Scuderi · License #NY 10401277622
Source:
Crexi
Added: Oct 8, 2024
Changed: Aug 14
Last Checked: Aug 14 at 5:58AM
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 Company Syracuse
Investment Insights
Based on property information with market context.
This well-maintained, recently renovated, freestanding 4,200 SF commercial building is available for sale or lease. The property, currently built out as office/medical space, features modern finishes and ample parking. It is located on Erie Blvd, minutes from the I-690 Teall Ave interchange, downtown Syracuse, the Erie Blvd retail corridor, and major area employers. The property is suitable for medical office, general office, retail, or other commercial uses.
Key Highlights
- Freestanding 4,200 SF commercial building
- Ample parking
- Recently renovated with modern finishes
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
$40,399
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
8.98%
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%
$807,980
$808.0K
Cap Rate 7%
$577,129
$577.1K
Cap Rate 9%
$448,878
$448.9K
Market Conditions
NOI Build-Up for 4,200 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
$63.0K $15.00/SF
− Vacancy
−$9.1K −$2.18/SF
EGI
$53.9K $12.83/SF
− OpEx
−$13.5K −$3.21/SF
NOI
$40.4K $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%
$807,980
Cap Rate 7%
$577,129
Cap Rate 9%
$448,878
Alternative Uses
Best Use
Office B
$577.1K
$505.0K – $673.3K
NOI $40,399 @ 7.0% cap · market cap 8.98%
Second Best
Healthcare Medical
$559.4K
$489.5K – $652.7K
NOI $39,161 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$729.9K
$638.7K – $851.6K
NOI $51,094 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
774
Businesses Nearby
Under-served
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 4,200 SF commercial building on Erie Blvd available for sale.
Where is this medical office space located?
The property is located at 1810 Erie Blvd E Syracuse, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Freestanding 4,200 SF commercial building; Ample parking; Recently renovated with modern finishes
