Industrial Building in Baldwinsville,
For Sale
Contact for pricing
7528 State Fair Blvd, Baldwinsville, NY 13027
217,000 SF industrial building on 15.97 AC for sale.
Property Size217,280 SF
Lot Size15.97 Acres
Price / SF$52.93
Days on Market924
Property Features for 7528 State Fair Blvd
General Information
Standard status
Active
Size
217,280 SF
Lot size
15.97 Acres
Property subtype
Industrial
Zoning
Industrial
Investment Type
Owner/User
Building Details
Year Built
1965
Year Renovated
2020
Buildings
2
Listing Agency:
CBRE - Syracuse
(315) 422-4200
Listed By:
Mark Rupprecht · License #NY 30RU1016227
Source:
Crexi
Added: Feb 8, 2024
Changed: Aug 14
Last Checked: Aug 19 at 10:08PM
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 CBRE - Syracuse
Investment Insights
Based on property information with market context.
A 217,000 SF industrial building situated on 15.97 acres in Baldwinsville, New York, is available for purchase. The property is currently occupied by a single user but has the potential to be divided for multiple tenants. The building includes approximately 20,000 SF of office space, with the remaining area dedicated to manufacturing. It features a 17-foot clear height, 12 dock doors, 4 grade doors, busbars, and air lines. Additionally, there is an 8,800 SF outbuilding on the site, equipped with 2 dock doors and 1 grade door. Located near I-690, the property is approximately 10 miles northwest of downtown Syracuse, offering convenient access to I-90/NYS Thruway.
Key Highlights
- 217,000 SF industrial building on 15.97 AC.
- Potential for multi‑tenant use.
- Convenient location near I‑690 and I‑90/NYS Thruway.
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
$975,633
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
8.48%
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%
$19,512,660
$19.5M
Cap Rate 7%
$13,937,614
$13.9M
Cap Rate 9%
$10,840,367
$10.8M
Market Conditions
NOI Build-Up for 217,280 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
$1.50M $6.89/SF
− Vacancy
−$103.3K −$0.48/SF
EGI
$1.39M $6.41/SF
− OpEx
−$418.1K −$1.92/SF
NOI
$975.6K $4.49/SF
Area
Onondaga County, NY
Vacancy
6.90%
Lease Rate
$6.89 /SF/Yr
Expense Ratio
30.00%
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%
$19,512,660
Cap Rate 7%
$13,937,614
Cap Rate 9%
$10,840,367
Alternative Uses
Best Use
Industrial
$13.94M
$12.20M – $16.26M
NOI $975,633 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$37.76M
$33.04M – $44.05M
NOI $2,643,237 @ 7.0% cap · market cap 22.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 13027, NY
34,507
Population
15,276
Households
2.3
Avg Household Size
44
Median Age
45%
College-Educated
96%
High-School Grad
67.0 sq mi
ZIP Area
515
Density / Sq Mi
$91,369
Median Household Income
$55,805
Median Earnings
$1,258
Median Rent
$226,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - 217,000 SF industrial building on 15.97 AC for sale.
Where is this manufacturing property located?
The property is located at 7528 State Fair Blvd Baldwinsville, NY.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: 217,000 SF industrial building on 15.97 AC.; Potential for multi‑tenant use.; Convenient location near I‑690 and I‑90/NYS Thruway.
