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    2363 James St Syracuse, NY 13206
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    Property profile & analytics

    2363 James St, Syracuse, NY 13206

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    • Retail properties & Spaces
    • 21,965 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Onondaga County Libertarian Party / Charitable Organization / Social Service Agency
    • Edify Magnify Optimize (EMO) Consulting, LLC / Training Center
    • BOPStaples / Department Store
    • Redpoint Strategy Group - Digital Marketing Agency / Advertising Agency / Marketing & Advertising
    • CIOInsights / Publishing House

    Property Details for 2363 James St

    Year built
    1985
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This Class A, two-story office building at 2363 James Street in Syracuse, NY's Central Business District offers exceptional leasing opportunities. The property totals 21,965 square feet and is currently fully vacant, presenting a unique chance to occupy a significant portion or the entire building. Multiple tenancy options are available, with spaces ranging from a minimum of 9,349 square feet to a maximum contiguous space of 12,616 square feet. Built in 1985, the building boasts a desirable location within the vibrant Syracuse CBD submarket, offering convenient access to amenities and transportation. The property is classified as both Retail and Office, with a specific subtype of Executive Office and Traditional office space. Ample parking is provided with 45 spaces available for tenants and their clients. This presents a rare opportunity to secure a substantial, high-quality office space in a prime Syracuse location. The property's address is 2363 James Street, Syracuse, NY 13206. The building's zip code is 13206.

    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
    -76.1136
    Latitude
    43.0688

    Comparable in this City

    • Value Estimation by Request
      5,344 SF

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      3,240 SF

      6278 Thompson Rd

      NURSERY, GREENHOUSE, FLORIST
      6278 Thompson Rd, Syracuse, NY 13206-1498
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    • Value Estimation by Request
      296,586 SF

      1820 Teall Ave

      Neighborhood centers
      1820 Teall Ave, Syracuse, NY 13206
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    • Value Estimation by Request
      52,508 SF

      2401 James St

      Office Spaces
      2401 James St, Syracuse, NY 13206
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    • Value Estimation by Request
      8,553 SF

      2449 James St

      Office Spaces
      2449 James St, Syracuse, NY 13206
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    • Value Estimation
      $1,240,000
      16,132 SF

      3532 James St Milford E Dr

      OFFICE BUILDING
      3532 James St Milford E Dr, Syracuse, NY 13206
      View Details

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      Office Space Available For Rent

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    Syracuse, NY 13206
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    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
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