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Property profile & analytics
FOR SALE
Office buildings
5232 Witz Dr, N Syracuse, NY 13212
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US63-2688831
For Sale
1 / 3
$1,695,000
5232 Witz Dr, N Syracuse, NY 13212
View Listing →
Property summary
AI-generated overview
This exceptional 22,876 square foot Class A medical/traditional office building in Syracuse, NY, is available for immediate occupancy. Located in the Allen Road Office Park, this two-story building (plus basement) boasts convenient elevator access, ample parking, and prominent pylon signage. Built in 2006 and renovated in 2015, the property features a versatile layout including private offices, large conference/training rooms, open cubicle space, a formal reception area, multiple conference rooms, and breakrooms. The wood-frame structure sits on a 2.03-acre lot and offers excellent ADA accessibility. Previously occupied by Molina Healthcare, this owner-user opportunity is ideally situated just five minutes from Hancock International Airport and seven minutes from Syracuse's central business district, providing unparalleled convenience and visibility. The property is zoned for office use and presents a unique chance to acquire a well-maintained, high-quality asset in a prime location. The asking price is $1,695,000.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Total area
18,912 SF
Lot
2.08 ac (90,605 SF)
Zoning code
05 - COMMERCIAL
APN
312489 112.-06-13.5
UPID
US63-2688831
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
-
Jenny Barnum Physician
-
Workplace Health Solutions Inc Insurance Agency
-
Benefit Consulting Group Inc Insurance Agency
-
CNY Health Insurance Agency
-
Galusha Robert Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.32M
Owner & transaction history
Bkt Properties LLC
Bkt Properties LLC
since 2025
Last sale
$1.4M
2 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Syracuse, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.0M
+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 N Syracuse submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs N 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,875,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,025,000
Change: +8% · Conversion: Difficult
RESTAURANT
$1,840,000
Change: -2% · Conversion: Moderate
Blend value · Realmo final
$1.32M
Range $1.18M – $1.45M · ±10% · vs last sale $1.40M (Dec 31 2025)
Last sale anchor
$1.40M
Dec 31 2025
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
$70 / 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
$47,900
Assessed 2023
Previous assessed
$47,900
+0.0% YoY
Assessed land
$7,500
Assessed improvement
$40,400
Land market value
$251,678
Improvement market value
$1,355,705
Total market value
$1,607,383
Applied tax rate
312,403.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
OFFICE BUILDING
Status
For Sale
Year built
2006
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
18,912 SF
Lot
2.08 ac (90,605 SF)
Zoning code
05 - COMMERCIAL
APN
312489 112.-06-13.5
UPID
US63-2688831
Jurisdiction
ONONDAGA
Zoning & alternative use
05 - COMMERCIAL · Syracuse, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · 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
$1.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.0M
RESTAURANT
Est. value
$1.8M
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
2006
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
2.08 ac
Current owner
From public records · entity-resolved
Bkt Properties LLC
Entity
Mailing address
265TH MIDDLE IS RD, MEDFORD, NY 11763-1507
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2025
$1,400,000
Bkt Properties LLC
Ajarat Realty LLC
Deed
$1,520,000 · Seneca Savings Bank
Nov 1, 2005
$100,000
Oneida Financial Corp
Hafner Developers INC
Foreclosure
related
—
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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