Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    201 Main St North Syracuse, NY 13212
    Back to Search
    Property profile & analytics

    201 Main St, North Syracuse, NY 13212

    View on Map
    • Commercial real estate
    • 24,215 SF
    Off-Market
    Property ID
    US63-6245612
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Joel Bower Agency LLC / Insurance Agency
    • Seneca Savings / Bank / Loan Service
    • A American Debt Consolidation / Financial Advisor
    • B&B Risk Management Inc. / Insurance Agency
    • Gold Peak Builders / Construction Company

    Property Details for 201 Main St

    Year built
    1950
    Property type
    Commercial real estate
    APN
    011.-02-18.0 & 011.-02-19.0

    Description

    This exceptional mixed-use investment opportunity presents two, three-story buildings totaling 24,215 square feet situated on 201 S Main St, Syracuse, NY 13212. The property, encompassing 27 units (24 residential apartments and 3 commercial storefronts), boasts a remarkable 100% occupancy rate since its completion in 2017 following extensive renovations. Each unit features modern amenities including granite countertops, stainless steel appliances, and in-unit washer/dryers. Tenant responsibility for utilities (heat, hot water, electricity) contributes to the property's strong financial performance. Enhanced security measures include key fob access, closed-circuit monitoring, and a fire suppression system. The property also includes an elevator and ample off-street parking (35 spaces). Built in 1950 and renovated in 2017, this Class A property offers a stabilized investment with a current NOI of $221,241 and a 6.91% cap rate. The asking price is $3,200,000, translating to $132.15 per square foot and $118,518.52 per unit. The property's strong performance and desirable features make it an attractive investment opportunity. Parcel numbers are 011.-02-18.0 & 011.-02-19.0. This is a gross lease property with no tenant credit rating.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    North Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.129858322334
    Latitude
    43.13496041341

    Comparable in this City

    • Contact for pricing

      Syracuse Starbucks with Drive-Thru

      New construction Starbucks with 10-year lease near Syracuse University.
      210 Hamilton St, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Prime Retail Development Site Available

      Retail development site with high visibility and expansion potential.
      109 E Taft Rd, North Syracuse, NY 13212
      View Details
    • Contact for pricing
      10,640 SF

      Retail Property Near Syracuse Airport

      Long-term NNN lease with investment grade tenant near airport.
      6046-6054 E Taft Rd, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Land for Senior Housing Development

      Large acreage suitable for senior housing or apartment complex.
      Buckley Rd, Clay, NY 13212
      View Details
    • Contact for pricing

      Allen Road Office Park Land

      1.67 acre build-to-suit site in established office park.
      5248 Witz Dr, Syracuse, NY 13212
      View Details
    • $400,000
      2,244 SF

      North Syracuse Medical Office Building

      Well-maintained medical office in a high-growth area.
      105 N Main St, Syracuse, NY 13212
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Syracuse Starbucks with Drive-Thru

      New construction Starbucks with 10-year lease near Syracuse University.
      210 Hamilton St, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Prime Retail Development Site Available

      Retail development site with high visibility and expansion potential.
      109 E Taft Rd, North Syracuse, NY 13212
      View Details
    • Contact for pricing
      10,640 SF

      Retail Property Near Syracuse Airport

      Long-term NNN lease with investment grade tenant near airport.
      6046-6054 E Taft Rd, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Land for Senior Housing Development

      Large acreage suitable for senior housing or apartment complex.
      Buckley Rd, Clay, NY 13212
      View Details
    • Contact for pricing

      Allen Road Office Park Land

      1.67 acre build-to-suit site in established office park.
      5248 Witz Dr, Syracuse, NY 13212
      View Details
    • $400,000
      2,244 SF

      North Syracuse Medical Office Building

      Well-maintained medical office in a high-growth area.
      105 N Main St, Syracuse, NY 13212
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      North Syracuse Retail Space Available

      Retail space available in North Syracuse, New York.
      709 N Main St, North Syracuse, NY 13212
      View Details
    • Contact for pricing
      3,080 SF

      Restaurant Space with Full Bar

      Equipped restaurant space with a full bar for rent.
      3914 Brewerton Rd, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Well-Maintained Property with Ample Parking

      Well-manicured property with on-site landlord and great co-tenants.
      7293 Buckley Rd, Syracuse, NY 13212
      View Details
    • Contact for pricing

      Prime Retail Corridor Parking Spaces

      Parking spaces in North Syracuse retail corridor near airport.
      5406 Broad Rd, Syracuse, NY 13212
      View Details
    • Contact for pricing
      2,500 SF

      Equipped Restaurant Space Near Airport

      Restaurant space with equipment and high visibility near Syracuse Airport.
      201 Lawrence Rd E, Syracuse, NY 13212
      View Details
    • $12 SF/Yr
      6,400 SF

      North Syracuse Office Space

      Prime Office Suites, Newly Renovated
      109 Taft Rd, North Syracuse, NY 13212
      View Details

    Property Visit Statistics

    • Visits by month
      18.4k
    • Visitors by month
      9.8k
    • Avg Time on site
      4 min
    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.
    201 Main St
    North Syracuse, NY 13212
    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
    201 Main St, North Syracuse, NY, 13212
    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!