Lafayette Building 210 E Fayette St 16,736 SF Office Building Syracuse, NY 13202 $2,273,456 CAD ($135.84 CAD/SF) 12% Cap Rate

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.