Tavern with Commercial
For Sale
$175,000
165 Conklin Avenue, Binghamton, NY 13903
Commercial, BINGHAMTON, NY
Property Size1,820 SF
Lot Size0.23 Acres
Price / SF$96.15
Days on Market69
Property Features for 165 Conklin Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
12
Elementary school district
Binghamton
Middle school district
Binghamton
High school district
Binghamton
Directions
Conklin Ave to 165, next door to the Humane Society
Subdivision
Area 03
Standard status
Active
Size
1,820 SF
Lot size
0.23 Acres
Utilities
Heating system
Central
Cooling system
Central Air, Heat Pump
Water source
Public
Building Details
Year built
1940
Flooring type
Tile
Building materials
Concrete Block
Roof type
Membrane
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
John J. Burns Jr
(607) 725-2122
Added: Jun 22
Changed: Aug 19
Last Checked: Aug 29 at 5:06PM
MLS# 336596
Copyright © 2026 Greater Binghamton Association of Realtor. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Binghamton tavern property includes 1,820 square feet of improvements on a 0.2273-acre parcel. The offering includes kitchen equipment, a full vented exhaust system, refrigeration, a grill, bar stools, tables, and chairs. The building was constructed in 1940 with concrete block materials, tile flooring, a membrane roof, public water, central heating, central air, and a heat pump.
Located at 165 Conklin Avenue in Binghamton’s Southside area, the property is close to downtown Binghamton, next to the Humane Society, and two doors from the Relief Pitcher Restaurant. The property is associated with two tax map numbers and includes 165 and 165.5 Conklin Avenue.
Located at 165 Conklin Avenue in Binghamton’s Southside area, the property is close to downtown Binghamton, next to the Humane Society, and two doors from the Relief Pitcher Restaurant. The property is associated with two tax map numbers and includes 165 and 165.5 Conklin Avenue.
Key Highlights
- 1,820‑square‑foot tavern property on a 0.2273‑acre parcel
- Fully equipped kitchen with vented exhaust system, refrigeration, and grill
- Included furnishings consist of bar stools, tables, and chairs
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,256
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$225,120
$225.1K
Cap Rate 7%
$160,800
$160.8K
Cap Rate 9%
$125,067
$125.1K
Market Conditions
NOI Build-Up for 1,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$17.3K $9.48/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$16.1K $8.84/SF
− OpEx
−$4.8K −$2.65/SF
NOI
$11.3K $6.18/SF
Area
Broome County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$225,120
Cap Rate 7%
$160,800
Cap Rate 9%
$125,067
Alternative Uses
Best Use
Specialty Retail
$336.3K
$294.2K – $392.3K
NOI $23,538 @ 7.0% cap · market cap 13.45%
Second Best
Industrial
$160.8K
$140.7K – $187.6K
NOI $11,256 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$451.5K
$395.1K – $526.8K
NOI $31,607 @ 7.0% cap · market cap 18.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13903, NY
18,140
Population
8,620
Households
2.1
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
39.5 sq mi
ZIP Area
459
Density / Sq Mi
$61,244
Median Household Income
$39,811
Median Earnings
$863
Median Rent
$144,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- South City Pub & Grill — 1200 Vestal Ave, Binghamton, NY 13903
- Thirsty's Tavern — 46 S Washington St, Binghamton, NY 13903
- Downtown by Beer Tree Brew — 20 Hawley St, Binghamton, NY 13901
- J’s Tavern — 299 Conklin Ave, Binghamton, NY 13903
- Downtown by Chef Jay Pisculli — 20 Hawley St, Binghamton, NY 13901
Frequently Asked Questions
What type of property is this?
Bar & Pub - Food-and-beverage property with a vented exhaust system, refrigeration, grill, furnishings, and central climate control.
Where is this bar & pub located?
The property is located at 165 Conklin Avenue Binghamton, NY.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,820‑square‑foot tavern property on a 0.2273‑acre parcel; Fully equipped kitchen with vented exhaust system, refrigeration, and grill; Included furnishings consist of bar stools, tables, and chairs
