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Property profile & analytics
FOR SALE
Office buildings
3229 E Genesee St, Syracuse, NY 13214
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-3648878
For Sale
1 / 8
$3,195,000
3229 E Genesee St, Syracuse, NY 13214
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Property summary
AI-generated overview
This exceptional 23,500-square-foot medical office building in Syracuse, New York, presents a unique investment opportunity. Located at 3229 E Genesee St, Syracuse, NY 13214, this Class B building sits on a substantial 149,500-square-foot lot and offers a single, spacious unit. Previously occupied by a fully functioning diabetes and dialysis center until July 31, 2023, the property boasts a large waiting area, numerous exam and dialysis rooms, a laboratory, ample practitioner offices, conference rooms, and nursing stations. The building's versatile layout allows for subdivision to accommodate various tenant needs, and the owners are open to leasing, sale, or partnership arrangements. Furthermore, the property generates additional income from a rooftop cell tower. Its convenient location offers easy access to downtown Syracuse, the eastern suburbs, and major highways. Excellent parking is available on-site. The owners are willing to consider renovations to meet specific tenant requirements. This property is ideal for owner-users or investors seeking a prime medical facility in a thriving location. The property is available immediately.
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1990
Total area
22,988 SF
Lot
3.44 ac (149,846 SF)
Zoning code
27
APN
311500 038.-16-34.0
UPID
US63-3648878
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Joslin Diabetes Center Medical Clinic
-
University Endocrinologists Joslin Diabetes Center Medical Clinic
-
Dr. Lewis W. Johnson, MD Physician
-
Rachel Hopkins, MD Physician
-
Dr. Ruban Dhaliwal Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.74M
CAP Approach
CAP
$3.63M
Comparable Approach
Comparable
$3.51M
Blend (final)
Blend
$3.60M
Owner & transaction history
3229 E Genesee St Grp LLC · 5 yrs held
3229 E Genesee St Grp LLC
since 2021
Last sale
$2.4M
1 recorded transaction
Zoning & alternative use
27 · Syracuse, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.5M
+8.0%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Syracuse submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Syracuse submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,515,000
ML approach
$3,740,000
CAP Approach
CAP Return
Estimation
6%
$3,930,000
6.5%
$3,630,000
7%
$3,370,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,280,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,460,000
Change: +8% · Conversion: Difficult
RESTAURANT
$2,240,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$3.60M
Range $3.24M – $3.96M · ±10% · vs last sale $2.40M (Jul 6 2021)
Last sale anchor
$2.40M
Jul 6 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$157 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$2,541,400
Assessed 2023
Previous assessed
$2,541,400
+0.0% YoY
Assessed land
$581,300
Assessed improvement
$1,960,100
Land market value
$901,240
Improvement market value
$3,038,915
Total market value
$3,940,155
Applied tax rate
311,500.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1990
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
22,988 SF
Lot
3.44 ac (149,846 SF)
Zoning code
27
APN
311500 038.-16-34.0
UPID
US63-3648878
Jurisdiction
ONONDAGA
Zoning & alternative use
27 · Syracuse, NY
Zoning 27 · permitted uses
27 · Syracuse, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Syracuse. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
RESTAURANT
Est. value
$2.2M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
3.44 ac
Current owner
From public records · entity-resolved
3229 E Genesee St Grp LLC
Entity
Mailing address
7085 MANLIUS CTR RD, EAST SYRACUSE, NY 13057-2607
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 6, 2021
$2,400,000
3229 E Genesee St Grp LLC
3229 E Genesee Assoc
Deed
$1,920,000 · 3229 E Genesee Assoc
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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