Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    183 Walton St Syracuse, NY 13202
    Back to Search
    Property profile & analytics

    183 Walton St Syracuse, NY 13202

    View on Map
    • Retail properties & Spaces
    • 30,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Crave Dessert Studio / Bakery / Specialty Food Shop

    Property Details for 183 Walton St

    Property size
    30,000 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional Class A commercial property at 183 Walton Street in Syracuse, NY, offers a unique opportunity for businesses seeking versatile space within the vibrant Armory Square community. The building, totaling 30,000 square feet, features twelve suites and is ideally suited for a variety of uses, including creative office, executive office, traditional office, and coworking spaces. The property also accommodates retail and restaurant tenants, making it a highly desirable location for diverse businesses. Currently, there is limited availability, with one remaining space ranging from 900 to 2,000 contiguous square feet. The minimum divisible space is 900 square feet, providing flexibility for businesses of varying sizes. The building's prime location within Armory Square ensures high visibility and accessibility, attracting a significant customer base. This is a rare opportunity to secure a space in a thriving, established commercial district. Don't miss out on this last remaining suite

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.155
    Latitude
    43.048

    Comparable in this City

    • Value Estimation by Request
      7,500 SF

      333 Onondaga St

      Office Units • 7,500 SF
      333 Onondaga St, Syracuse, NY 13202
      View Details
    • Value Estimation by Request
      170,000 SF

      Syracuse, NY 13202

      Office Units • 170,000 SF
      Syracuse, NY 13202
      View Details
    • Value Estimation by Request
      50,000 SF

      100 Washington St

      Office Spaces • 50,000 SF
      100 Washington St, Syracuse, NY 13202
      View Details
    • Value Estimation by Request
      477,610 SF

      441 Salina St

      Office Spaces • 477,610 SF
      441 Salina St, Syracuse, NY 13202
      View Details
    • Value Estimation by Request
      2,200 SF

      333 Salina St

      Retail properties & Spaces • 2,200 SF
      333 Salina St, Syracuse, NY 13202
      View Details
    • Value Estimation by Request
      300,000 SF

      300 State St

      Office Units • 300,000 SF
      300 State St, Syracuse, NY 13202
      View Details

    Similar Nearby for Sale

    • $3,567,324
      26,000 SF

      Downtown Syracuse Office Building

      26,000 SF office building for sale in Syracuse.
      359 S Salina St, Syracuse, NY 13202
      View Details
    • Contact for pricing
      889 SF

      Established Liquor Store in Syracuse

      Turnkey liquor store business for sale in Armory Square.
      189 Walton St, Syracuse, NY 13202
      View Details
    • Contact for pricing

      Corner Lot with Parking Spaces

      Corner lot featuring 24 parking spaces and a billboard.
      116 S Mcbride St, Syracuse, NY 13202
      View Details
    • Contact for pricing

      Land Near Armory Square

      Commercial land available near Armory Square and West Side initiative.
      122 W Fayette St, Syracuse, NY 13202
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 2,200 square feet.
      334 S Salina St, Syracuse, NY 13202
      View Details
    • Contact for pricing
      6,261 SF

      Downtown Mixed-Use Building Sublease

      Sublease opportunity in renovated mixed-use building near Armory Square.
      476 South Salina St, Syracuse, NY 13202
      View Details
    • Contact for pricing

      Downtown Syracuse Retail/Office Space

      Prime commercial space in revitalizing downtown Syracuse near Clinton Square.
      216 W Genesee St, Syracuse, NY 13202
      View Details
    • Contact for pricing

      Updated Retail/Office Space Available

      Updated first-floor retail or office space with ample natural light.
      221 Herald Pl, Syracuse, NY 13202
      View Details
    • Contact for pricing

      Renovated Office Building with Parking

      Downtown office building with on-site parking and renovated interior.
      506 E Washington St, Syracuse, NY 13202
      View Details
    • $5,000 /Mo
      37,112 SF

      Syracuse Office Space Sublease

      Office space for sublease, all-inclusive rent covers utilities and maintenance.
      422 W Onondaga St, Syracuse, NY 13202
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    183 Walton St
    Syracuse, NY 13202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    183 Walton St, Syracuse, NY, 13202
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!