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    Property profile & analytics

    2120 Teall Ave Syracuse, NY 13206

    • Office buildings
    • 7,144 SF
    • 0.15 lot acres
    For Lease
    View listing
    Last Sale
    May 24, 2024
    Value Estimations
    $295,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3816180
    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.

    Current Use by Public Records

    • Northland roofing LLC / Roofing Contractor / General Contractor
    • Gatewood Barbershop / Barber Shop
    • Jaded Apparel / Clothing Store

    Property Details for 2120 Teall Ave

    Year built
    1960
    Lot size
    0.15 lot acres
    Property size
    7,144 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Office buildings
    APN
    314889 070.-12-24.0
    APU
    31488907012240

    Description

    This exceptional 7,144 square foot office space, located at 2120 Teall Avenue, Office #6 in Syracuse, New York, presents a unique opportunity for businesses seeking a prominent location. Situated in Onondaga County, this single-tenant property boasts excellent visibility on Teall Avenue and offers convenient access to major highways, ensuring easy commutes for employees and clients. The property features ample parking, a significant advantage in a busy urban area. The interior layout is versatile, incorporating both private offices and open common areas, catering to a range of business needs and operational styles. Natural light floods the space, creating a bright and inviting atmosphere. Well-maintained restrooms contribute to the overall functionality and comfort of the space. The property sits on a 6,573 square foot lot. This special purpose building is ideal for businesses seeking a professional and vibrant environment to enhance their operations and foster collaboration. The property's location and amenities combine to offer a compelling opportunity for growth and success. The zip code is 13206.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $260,000
      Market price range: $198k - $434k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1232
    Latitude
    43.0804
    CBSA code
    45060
    CBSA name
    SYRACUSE, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $41,000
    $194,000
    $235,000
    -
    $46,067
    $217,978
    $264,045

    Comparable in this City

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      View Details
    • Value Estimation
      $305,000
      8,322 SF

      3309 James St, Unit 15

      PROFESSIONAL BUILDING • 8,322 SF
      3309 James St, Syracuse, NY 13206-2875
      View Details
    • Value Estimation by Request
      1,920 SF

      307 Riegel St

      OFFICE BUILDING • 1,920 SF
      307 Riegel St, Syracuse, NY 13206-3545
      View Details
    • Value Estimation
      $415,000
      16,132 SF

      3532 James St Milford E Dr

      OFFICE BUILDING • 16,132 SF
      3532 James St Milford E Dr, Syracuse, NY 13206
      View Details
    • Value Estimation
      $415,000
      14,920 SF

      105 Twin Oaks Dr

      OFFICE BUILDING • 14,920 SF
      105 Twin Oaks Dr, Syracuse, NY 13206-1205
      View Details
    • Value Estimation
      $880,000
      64,058 SF

      6350 Ct St Rd

      OFFICE BUILDING • 64,058 SF
      6350 Ct St Rd, Syracuse, NY 13206
      View Details

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      7,144 SF

      Syracuse Office Space for Lease

      Prime Teall Ave Office, 7144 sq ft
      2120 Teall Ave, Syracuse, NY 13206
      View Details
    • Contact for pricing
      7,144 SF

      Prime Teall Ave Office Space

      7,144 SF Office, Excellent Visibility
      2120 Teall Ave, Syracuse, NY 13206
      View Details
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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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