5232 Witz DrSyracuse, NY 13212

Property Details for 5232 Witz Dr

Year built

2006

Lot size

2.08 AC

Property size (Sq ft)

18,912 SF

Zone code

05 - COMMERCIAL

Property type

Office properties

Property subtype

Office buildings

APN

312489 112.-06-13.5

APU

31248911206135

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,053,971

  6.5%

  $2,819,050

  7%

  $2,617,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,727,766

  Geo Method

  $2,471,042

• Alternative Use

  Use

  Valuation

  Residential

  $3,495,622

  Hospitality

  $3,201,971

  Educational

  $2,664,002

  Medical

  $2,755,622

  Retail

  $4,144,004

Location Insight

City

Syracuse

County

Onondaga

State

New York

Latitude

43.1233

Longitude

-76.1549

CBSA code

45060

CBSA name

SYRACUSE, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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