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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4000 New Ct Ave Syracuse, NY 13206-1639

    • Warehouses
    • 9,500 SF
    • 0.58 lot acres
    OFF-MARKET
    Last Sale
    Oct 23, 2023
    $800,000
    Value Estimations
    $790,000
    Show details
    Cap Rate Potential
    5.9%
    Warehouses
    Location Intelligence
    Property ID
    US63-1603674
    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

    • Warehouses

    Property Details for 4000 New Ct Ave

    Year built
    1950
    Lot size
    0.58 lot acres
    Property size
    9,500 SF
    Zone code
    06 - INDUSTRIAL
    Property type
    Warehouses
    APN
    312689 031.-10-01.1
    APU
    31268903110011

    Description

    This 9,500-square-foot industrial flex building in Syracuse, NY, offers a versatile space for a variety of businesses. Located at 4000 New Ct Ave, this single-tenant property boasts a prime location with 125 feet of road frontage on the corner of Eastbourne Drive and New Court Ave. The building features 14-foot high ceilings under the joists, providing ample vertical space. Access is provided by one 12' x 14' overhead door, plus four loading docks with sixteen dock-high doors. There is also one drive-in door for convenient loading and unloading. The property includes five total parking spaces. The building has recently undergone significant improvements, including a new façade and exterior design, new three-phase electric service, energy-efficient LED lighting, and a Reznor heating system. The roof is in excellent condition. The property is zoned industrial within the Town of Dewitt and enjoys exceptional access to major transportation arteries, including I-690, I-90, I-481, and I-81. Lease terms and pricing are negotiable. This is a fantastic opportunity for a business seeking a well-maintained, strategically located industrial flex space in Syracuse.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $870,000
      ML approach
      $915,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $855,000
      6.5%
      $790,000
      7%
      $735,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $551,000
      Market price range: $275k - $820k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $525,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $1,015,000
      Change: +93% Conversion: Moderate
      OFFICE BUILDING
      $940,000
      Change: +79% Conversion: Difficult
      RESTAURANT
      $925,000
      Change: +76% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $725,000
      Change: +38% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $720,000
      Change: +37% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1111
    Latitude
    43.0797
    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
    $35,000
    $250,000
    $285,000
    -
    $35,000
    $250,000
    $285,000

    Comparable in this City

    • Value Estimation
      $285,000
      1,176 SF

      5968 Ct St Rd

      WAREHOUSE, STORAGE • 1,176 SF
      5968 Ct St Rd, Syracuse, NY 13206-1708
      View Details
    • Value Estimation
      $595,000
      23,027 SF

      386 Midler Ave Rear

      WAREHOUSE, STORAGE • 23,027 SF
      386 Midler Ave Rear, Syracuse, NY 13206-2230
      View Details
    • Value Estimation
      $2,535,000
      80,498 SF

      6486 Ridings Rd

      WAREHOUSE, STORAGE • 80,498 SF
      6486 Ridings Rd, Syracuse, NY 13206-1141
      View Details
    • Value Estimation
      $380,000
      5,948 SF

      393 Collingwood Ave

      WAREHOUSE, STORAGE • 5,948 SF
      393 Collingwood Ave, Syracuse, NY 13206-2205
      View Details
    • Value Estimation
      $320,000
      6,320 SF

      5800 Ct St Rd

      WAREHOUSE, STORAGE • 6,320 SF
      5800 Ct St Rd, Syracuse, NY 13206-1703
      View Details
    • Value Estimation
      $380,000
      11,000 SF

      5916 Ct St Rd

      WAREHOUSE, STORAGE • 11,000 SF
      5916 Ct St Rd, Syracuse, NY 13206-1706
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,600 SF

      Industrial Building with Manufacturing Plant

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      Remodeled Eastwood Two-Family Home

      Remodeled two-family home with potential for Airbnb use.
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    Similar Nearby for Lease

    • Contact for pricing
      9,200 SF

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      Warehouse and retail space available for lease on Burnet Avenue.
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      View Details
    • Contact for pricing
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      Retail Space on Thompson Road

      9,068 SF retail, office, and warehouse space for lease.
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      View Details
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      795,000 SF

      Syracuse Industrial Powerhouse

      795,000 SF Multi-Tenant Industrial
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      View Details
    • Contact for pricing
      45,490 SF

      High-Tech Assembly Space Available

      Up to 32,000 SF of renovated flex/industrial space for lease.
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    • $5 SF/Yr
      19,000 SF

      Syracuse Flex Space For Rent

      Flex space with recent upgrades, convenient highway access.
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      View Details
    • $410,000
      5,000 SF

      Versatile Flex Space Available

      Adaptable 5000 SF flex space suitable for various purposes.
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      View Details
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    4000 New Ct Ave
    Syracuse, NY 13206-1639
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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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