Syracuse Office Market Report
By PropZone Research · Data through Q4 2023 · Aggregated from Cushman & Wakefield
Quarterly office market indicators for Syracuse, aggregated by PropZone from Cushman & Wakefield. As of Q4 2023, average asking rent was $16.64/SF with a 3.7% vacancy rate.
Projected current office pricing — Syracuse
indicative confidenceModeled estimate (income approach) shown as a range — not an appraisal. No market-specific cap rate is published for Syracuse office yet, so this applies the typical cap rate across comparable office markets — treat it as a rough, indicative range that sharpens as sourced cap rates arrive. Projected asking rent × occupancy × net-operating-income margin band ÷ a benchmark cap rate, from Q4 2023 asking-rent data (benchmark cap rate 6.6%–8.6%, asking rent held flat). Assumes ~96% occupancy and a 50–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q4 2023 | $16.64/SF | 3.7% | 0K SF | — | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for office space in Syracuse?
- As of Q4 2023, the average asking rent for office space in Syracuse was $16.64/SF, per Cushman & Wakefield.
- What is the office vacancy rate in Syracuse?
- The office vacancy rate in Syracuse was 3.7% as of Q4 2023 (Cushman & Wakefield).
- Where does PropZone's Syracuse market data come from?
- This report aggregates quarterly office market data for Syracuse from Cushman & Wakefield.