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210 E Fayette St
Syracuse, NY 13202
Lafayette Building · Office Property For Sale
Investment Highlights
- Seven-story mixed-use property featuring windows on all sides for optimal natural light.
- Major upgrades include new plumbing, electrical, and natural gas systems, separately metered on each floor.
- Fully remodeled sixth and seventh floors currently occupied by a law firm.
- Two green roofs located on the third and seventh floors, adding sustainable design elements.
- Heated front sidewalk installed with dedicated boiler for winter accessibility.
- Mixed-use zoning enables flexibility for residential apartments or condominiums alongside commercial operations.
Executive Summary
The Lafayette Building offers a distinctive ownership opportunity in the heart of downtown Syracuse’s Cathedral Square district. This seven-story, stand-alone structure features windows on all sides and includes unique design elements such as two green roofs on the third and seventh floors. Built in 1926 and meticulously gutted in 2003, the property combines historic architectural appeal with modernized infrastructure. Updates include new plumbing, natural gas lines, and electrical systems for each floor, all separately metered, along with new copper water lines and conduit for internet access. Fire protection measures include core wet sprinklers and hookups on every level.
Floors six and seven have been fully remodeled and are currently occupied by a law firm, while the first floor offers a partially finished meeting space with a restroom. With its mixed-use zoning, potential exists for apartment conversion as rentals or condominiums alongside commercial applications. The building sits within a vibrant downtown where multiple surrounding properties have transitioned to residential, leading to consistently low vacancy rates. A calculated CAP rate of 12% with 90% occupancy underscores long-term investment upside. Heated sidewalk infrastructure, a rebuilt elevator generator, and recent transformer replacement enhance operational reliability. This building is well-positioned for owner-users or investors seeking downtown prominence and adaptive reuse potential in a thriving urban corridor.
Floors six and seven have been fully remodeled and are currently occupied by a law firm, while the first floor offers a partially finished meeting space with a restroom. With its mixed-use zoning, potential exists for apartment conversion as rentals or condominiums alongside commercial applications. The building sits within a vibrant downtown where multiple surrounding properties have transitioned to residential, leading to consistently low vacancy rates. A calculated CAP rate of 12% with 90% occupancy underscores long-term investment upside. Heated sidewalk infrastructure, a rebuilt elevator generator, and recent transformer replacement enhance operational reliability. This building is well-positioned for owner-users or investors seeking downtown prominence and adaptive reuse potential in a thriving urban corridor.
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Building Size
16,736 SF
Building Class
C
Year Built/Renovated
1926/2003
Price
$1,600,000
Price Per SF
$95.60
Cap Rate
12%
NOI
$192,000
Tenancy
Multiple
Building Height
7 Stories
Typical Floor Size
2,000 SF
Slab To Slab
10’
Building FAR
7.56
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
MX-5: CBD - The MX-5 district is established to provide for areas of highest-density, transit-supportive residential development, and maximum building heights.
Parking
5 Spaces (0.3 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 311500-102-000-0001-001-002-0000 | Improvements Assessment | $212,500 |
| Land Assessment | $147,500 | Total Assessment | $360,000 |
Property Taxes
Parcel Number
311500-102-000-0001-001-002-0000
Land Assessment
$147,500
Improvements Assessment
$212,500
Total Assessment
$360,000
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