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    5241 Genesee St Camillus, NY 13031
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    Property profile & analytics

    5241 Genesee St Camillus, NY 13031

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    • Office Spaces
    • 490,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Starbucks / Cafe & Coffee Shop
    • Adelita's Mexican Cocina & Tequila / Restaurant
    • TNT Fireworks / Discount Store / Party Supply Store

    Property Details for 5241 Genesee St

    Property size
    490,500 SF
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    Camillus Commons offers exceptional medical office space in a highly desirable location at 5241 W Genesee St, Camillus, NY 13031. This Class A building boasts a total of 490,500 square feet, with multiple suites available ranging from 2,660 to 35,961 contiguous square feet. Currently, 44,380 square feet are vacant, presenting a significant opportunity for expansion or new tenancy. The property features ample free parking for tenants and visitors. Strategically situated on W. Genesee Street, the only major retail shopping corridor in Camillus, the building benefits from high visibility and convenient access to a densely populated residential area. Its proximity to the annual New York State Fair (attracting nearly one million visitors) and Syracuse University (over 20,000 students) further enhances its appeal and potential for high traffic and clientele. This is an exceptional opportunity to establish or expand a medical practice in a thriving community with strong demographics and convenient access to major attractions and a large student population. The property is located in Onondaga County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Camillus
    County
    Onondaga
    State
    New York
    Longitude
    -76.2677
    Latitude
    43.0404

    Comparable in this City

    • Value Estimation
      $3,410,000
      23,600 SF

      5417 Genesee St

      MEDICAL CLINIC • 23,600 SF
      5417 Genesee St, Camillus, NY 13031-2176
      View Details
    • Value Estimation
      $640,000
      33,326 SF

      2453 Genesee Tpke

      HOMES (RETIRED, NURSING) • 33,326 SF
      2453 Genesee Tpke, Camillus, NY 13031-9692
      View Details
    • Value Estimation
      $760,000
      5,140 SF

      4981 Genesee St

      PROFESSIONAL BUILDING • 5,140 SF
      4981 Genesee St, Camillus, NY 13031-2313
      View Details
    • Value Estimation by Request
      8,502 SF

      436 Hinsdale Rd

      PROFESSIONAL BUILDING • 8,502 SF
      436 Hinsdale Rd, Camillus, NY 13031-1648
      View Details
    • Value Estimation by Request
      3,066 SF

      307 Kasson Rd

      PROFESSIONAL BUILDING • 3,066 SF
      307 Kasson Rd, Camillus, NY 13031-2296
      View Details
    • Value Estimation by Request
      2,341 SF

      5100 Genesee St

      PROFESSIONAL BUILDING • 2,341 SF
      5100 Genesee St, Camillus, NY 13031-2354
      View Details

    Similar Nearby for Sale

    • $1,800,000
      10,000 SF

      Medical Office Building For Sale

      10,000 SF medical office building with available space.
      5639 W Genesee St, Camillus, NY 13031
      View Details
    • $800,000

      Redevelopment Opportunity with Lease Income

      2-acre site with existing structures generating income near Township 5.
      107 Bennett Rd, Camillus, NY 13031
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    • $699,000
      10,000 SF

      Camillus Commercial Land Opportunity

      53 Acres, 10,000 sqft, Development Potential
      Split Rock Rd, Camillus, NY 13031
      View Details
    • $695,000

      Mixed-Use Property with Storefronts

      Six apartments and two storefronts, an income-producing mixed-use property.
      47 N Main St, Camillus, NY 13031
      View Details
    • $324,900
      2,088 SF

      Updated Commercial Building in Camillus

      Renovated commercial building with high visibility and extra income.
      65 Main St, Camillus, NY 13031
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,952 SF

      Medical Office Space For Rent

      3952 SF medical office space with high visibility.
      5417 W Genesee St, Camillus, NY 13031
      View Details
    • Contact for pricing
      4,258 SF

      Well-Maintained Office Building for Lease

      Professionally maintained office building with high-end finishes and ample power.
      3 Henry Beach Dr, Camillus, NY 13031
      View Details
    • Contact for pricing
      7,451 SF

      Class A Office Space Available

      Class A office space with on-site parking and amenities.
      54 Main St, Camillus, NY 13031
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Camillus, NY

      3,500 SF retail space available for rent.
      3750 Milton Ave, Camillus, NY 13031
      View Details
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    5241 Genesee St
    Camillus, NY 13031
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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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