Office Properties for sale in Syracuse offer a unique investment opportunity in a city that boasts a rich history, diverse economy, and excellent infrastructure. With 19 Office Properties available, investors can tap into the city's growing demand for commercial space. Office Properties in Syracuse can represent a range of investments, from single-story buildings to multi-story complexes, each offering a unique set of benefits and opportunities. The city's strategic location at the intersection of Interstates 81 and 90 makes it an attractive hub for businesses, with easy access to major markets and transportation routes. Additionally, Syracuse is home to several prominent institutions, including Syracuse University, SUNY Upstate Medical University, and Le Moyne College, which contribute to the city's economic and educational growth. The city's diverse neighborhoods, such as Armory Square, University Hill, and Westcott, offer a range of amenities, including restaurants, shops, and cultural attractions, making it an attractive location for businesses and employees alike.
Syracuse's Office Properties market is characterized by an average price per square foot of $98 USD, with an average size of 20,492 square feet. The largest Office Property available is 71,400 square feet, offering ample space for businesses of all sizes. With an average cap rate of 9.97%, Office Properties in Syracuse offer a competitive return on investment. In addition to Office Properties, Syracuse also offers a range of other commercial properties, including Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels. The city's Commercial Real Estate market is driven by its strong healthcare and education sectors, with major employers like State University of New York Upstate Medical University and Syracuse University. Apartment Buildings in Syracuse offer a range of options for residents, from luxury complexes to affordable housing. Shopping Centers in the city, such as Destiny USA, provide a convenient and accessible retail experience. Hotels in Syracuse, including the Marriott Syracuse Downtown, offer comfortable accommodations for business travelers and tourists alike. Overall, Syracuse's diverse range of commercial properties makes it an attractive location for investors and businesses.
What is the average price per square foot for office properties in Syracuse?
The average price per square foot for office properties in Syracuse is $98 USD.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Syracuse, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding higher rental rates.
- Class B office properties offer functional space with average amenities, decent locations, and standard finishes, appealing to a broader range of tenants and providing a balance between quality and affordability.
- Class C office properties are often older buildings with limited amenities, less desirable locations, and basic finishes, typically attracting smaller businesses or startups with limited budgets.
With 19 available listings of office properties in Syracuse, understanding these classifications can help you navigate the market and find the right property that fits your investment goals and budget, considering factors like average price per square foot of $98 USD, average size of 20,492 square feet, and average cap rate of 9.97%.
