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Office Building on Commuting Route

829 W Genesee St, Syracuse, NY 13204

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For Sale

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Highly visible office building near downtown Syracuse with Verizon tower.

Type:Office

Property size:

9,800 SF

Price / SF:

$158/SF

HighLights

Highly visible location on major commuting route, minutes from downtown Syracuse and highways.
7,154 sf of office space available.
Long‑term Verizon tower on premises.
Interior in excellent condition with new carpet and paint in 2022.
Features a large conference room, nine private offices, workroom, and multiple bathrooms.
Onsite parking with availability of additional spaces next door to lease.

We can help!

Contact an agent

Christine O'Connell More

For Sale

Contact for pricing

Highly visible office building near downtown Syracuse with Verizon tower.

Type:Office

Property size:

9,800 SF

Price / SF:

$158/SF

Added:: Mar 15, 2023
Days on Market:: 1210
Last Refresh:: Jul 2 at 9:44 am

Property Features for 829 W Genesee St

General Information

Standard status: Active
Size: 9,800 SF
Property subtype: Office

Building Details

Year Built: 1920

We can help!

Contact an agent

Christine O'Connell More

Listing office O' Connell More Consulting & Real Estate

Listing date Mar 15, 2023

Source Crexi

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 O' Connell More Consulting & Real Estate

HighLights

Highly visible location on major commuting route, minutes from downtown Syracuse and highways.
7,154 sf of office space available.
Long‑term Verizon tower on premises.
Interior in excellent condition with new carpet and paint in 2022.
Features a large conference room, nine private offices, workroom, and multiple bathrooms.
Onsite parking with availability of additional spaces next door to lease.

Overview

This highly visible office building is situated on a major commuting route, offering convenient access to downtown Syracuse and nearby highways. The property includes a long-term Verizon tower on the premises. As of Summer 2023, 7,154 square feet of office space is available. The interior is in excellent condition, featuring new carpet and paint installed in 2022. The seller has consistently made improvements to the building. The layout includes a large conference room, nine private offices, a workroom, and multiple bathrooms. The space may be divisible. The property is suitable for an investor or user. Onsite parking is available, with the option to lease additional spaces next door. The building has a total size of 9,800 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$147.0k	$15.00
− Vacancy	−$21.3k	−$2.18
EGI	$125.7k	$12.83
− OpEx	−$31.4k	−$3.21
NOI	$94.3k	$9.62

9,800 SF · lease $15.00/SF/yr · vacancy 14.50% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.35M

$1.18M – $1.57M (±1% cap)

NOI $94,264 @ 7.0% cap · market cap 6.08%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.70M

$1.49M – $1.99M (±1% cap)

NOI $119,218 @ 7.0% cap · market cap 7.69%

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

Property Profile Location Intelligence

Current Use by Public Records

Icap Llc Property Management Company

Suggested Use

Location Insight

Map
Local Demand

City: Syracuse
County: Onondaga
State: New York
Longitude: -76.1673266
Latitude: 43.0533349

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For sale
Office buildings
NY
Syracuse
13204
829 W Genesee St

What type of property is this?

Office building - Highly visible office building near downtown Syracuse with Verizon tower.

Where is this office building located?

The property is located at 829 W Genesee St Syracuse, NY.

What is the asking price?

The asking price for this property is $1,550,000.

What are key features of this property?

This property features: Highly visible location on major commuting route, minutes from downtown Syracuse and highways.; 7,154 sf of office space available.; Long‑term Verizon tower on premises.