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    Property profile & analytics

    404 Oak St Syracuse, NY 13203

    • Office buildings
    • 19,650 SF
    • 0.92 lot acres
    For Sale
    View listing
    $1,350,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1625458
    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

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    • Simply Precious Hands / Lymph Drainage Therapist / Physical Fitness Program
    • Tammy Balamut, NP in Psychiatry, PLLC / Nurse Practitioner
    • Nana’s beauty / Hairdresser
    • Northern Pike Tax Solutions / Tax Preparation Service

    Property Details for 404 Oak St

    Year built
    1970
    Lot size
    0.92 lot acres
    Property size
    19,650 SF
    Zone code
    08 - GOVERNMENTAL
    Property type
    Office buildings
    APN
    311500 019.-08-25.0
    APU
    31150001908250

    Description

    This three-story, 19,650 square foot office building at 404 Oak Street in Syracuse, NY, is offered at $1,350,000 ($68.70/sq ft). Built in 1970, the property boasts 65 parking spaces on a 39,799 sq ft lot. Currently 98% occupied, this multi-tenant building provides a strong income stream, having maintained this high occupancy rate for the past nine years. Its excellent condition and well-maintained structure represent a low-risk investment opportunity. The building enjoys a prime location in a busy traffic corridor with easy access to major highways (690), universities, hospitals, downtown Syracuse, the post office, and the Thruway. It's also minutes from the airport and situated in the Non-Profit Mile. This property is available for purchase individually or as part of a package deal with another property (2000 Teall Ave, Syracuse, NY 13206), potentially offering a discounted price. A new owner could explore converting one or more floors to housing, leveraging grant opportunities, although the building's current high occupancy makes it a reliable income generator. Ample off-street parking is available for tenants and clients. The zip code is 13203, and the property is located in Onondaga County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $526,000
      Market price range: $418k - $1.05M

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

    Location Insight

    • Map
    • Local Demand
    City
    Syracuse
    County
    Onondaga
    State
    New York
    Longitude
    -76.1331
    Latitude
    43.0584
    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
    $75,800
    $504,200
    $580,000
    -
    $117,519
    $781,706
    $899,225

    Comparable in this City

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      39,088 SF

      516-20 James St Mcbride N St

      OFFICE BUILDING • 39,088 SF
      516-20 James St Mcbride N St, Syracuse, NY 13203
      View Details
    • Value Estimation
      $330,000
      3,894 SF

      306 Hawley Ave

      OFFICE BUILDING • 3,894 SF
      306 Hawley Ave, Syracuse, NY 13203-2576
      View Details
    • Value Estimation
      $340,000
      5,856 SF

      815 James St

      OFFICE BUILDING • 5,856 SF
      815 James St, Syracuse, NY 13203-2504
      View Details
    • Value Estimation
      $640,000
      20,808 SF

      990 James St

      OFFICE BUILDING • 20,808 SF
      990 James St, Syracuse, NY 13203-2879
      View Details
    • Value Estimation
      $250,000
      5,296 SF

      423 James St

      OFFICE BUILDING • 5,296 SF
      423 James St, Syracuse, NY 13203-2224
      View Details
    • Value Estimation
      $370,000
      4,928 SF

      429 James St

      OFFICE BUILDING • 4,928 SF
      429 James St, Syracuse, NY 13203-2224
      View Details

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      Multi-Tenant Income Property in Syracuse

      Well-maintained multi-tenant property with income potential, close to amenities.
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      Syracuse Office Building: Prime Location

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    Similar Nearby for Lease

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    • Contact for pricing
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    • $650 /Mo

      Flexible Storage Space Available

      686 sq ft storage space with private entry and parking.
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    Syracuse, NY 13203
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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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