Commercial Real Estate Market in Syracuse, NY
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
545 active listings and 6,426 off-market properties in Syracuse, NY. Commercial property asks $76/SF to buy and $12.23/SF/Yr to lease. Office vacancy runs 12.7%, the loosest of the segments tracked here.
Market Trends
Syracuse, NY spans 100.4 square miles in Onondaga County, New York. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Syracuse, NY runs 12.7% in 2025, up from 12% in 2019. Down from a 2024 peak of 14.5%.
Vacancy Rate %
Retail
Retail vacancy in Syracuse, NY runs 5.8% in 2025, little changed from 6.2% in 2021. Nearly 1.3x the 2024 low of 4.5%.
Vacancy Rate %
Industrial
Industrial vacancy in Syracuse, NY runs 6.1% in 2025, little changed from 6.3% in 2019. Nearly 2.1x the 2022 low of 2.9%.
Vacancy Rate %
Multifamily
Multifamily space in Syracuse, NY asks $76/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 69.1%
- Open space 17.2%
- Commercial 5.7%
- Civic 4.8%
- Mixed use 3%
- Planned_development 0.2%
Largest Zones share of zoned land by district
Single Unit Residential
Open Space
Low Density Residential
Light Industry And Employment
High Density Residential
Syracuse, NY zones 12,792 acres across 16 districts. Commercial zoning covers 5.7% of zoned land, residential 69.1% and open space 17.2%. The largest single district is Single Unit Residential at 29.7%. For commercial buyers the practical constraint is that only 5.7% of land carries a commercial or industrial designation.
Open Space (OS)
OS: Open Space 2.14 Planned Development Zone Districts PI D : Planned Institutional 2.15B PD D : Planned Development 2.15C Overlay Zone Districts Local Historic Districts Article 6: Historic Preservation Article 2: Zone Districts 2.1 : General Provisions B : Official Zoning Map Syracuse Zoning Ordinance 16 September 2025 B. Official Zon ing Map (1) Incorpora…
Market overview
Demographics & Economy
Syracuse, NY has 233,100 residents in 104,484 households. Density runs 2,322 people per square mile. Median household income here is $59,645 and median gross rent $1,021 a month.
233,100
Population
104,484
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
89%
High-School Grad
100.4 sq mi
ZIP Area
2,322
Density / Sq Mi
$59,645
Median Household Income
$38,345
Median Earnings
$1,021
Median Rent
$147,009
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Split Rock | — | — |
| Sentinel Heights | — | — |
| Indian Village | — | — |
| East Syracuse | — | $14.03 |
Commercial property in Syracuse, NY asks $76/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Syracuse?
Commercial property in Syracuse, NY asks an average of $76 per square foot. The 6 most recent recorded sales traded at a median of $96/SF. Multifamily carries the highest asking price at $76/SF.
How much does it cost to lease commercial space in Syracuse?
Asking lease rates in Syracuse, NY average $12.23 per square foot per year.
What is the office vacancy rate in Syracuse?
Office vacancy in Syracuse, NY is 12.7% as of 2025, up from 12% in 2019. Retail vacancy is 5.8%, below Office vacancy.
Which property type has the lowest vacancy in Syracuse?
Retail has the lowest vacancy in Syracuse, NY at 5.8%, inside a 4.5–6.5% band since 2021. For comparison: office 12.7%, industrial 6.1% and multifamily 5.6% (Northeast).
What zoning applies to commercial property in Syracuse?
Syracuse, NY zones 12,792 acres across 16 districts, of which 5.7% is commercial and 0% industrial. The largest single district is Single Unit Residential at 29.7% of zoned land. Residential zoning covers 69.1% and open space 17.2%.
Where does Realmo's Syracuse market data come from?
Realmo compiles Syracuse, NY figures from 8 recent recorded sales, 407 active sale listings, 138 active lease listings, 6,426 tracked off-market properties, the current Syracuse zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 407 active for-sale and 138 active for-lease listings in Syracuse, NY. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 12,792 zoned acres across 16 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- multifamily vacancy is reported at Northeast region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
