Freestanding Mixed-Use
For Sale
Contact for pricing
1146 Upper Front St, Binghamton, NY 13905
Freestanding commercial property combines retail space with a rear one-bedroom apartment and convenient access to Interstate 86.
Property Size8,000 SF
Lot Size0.54 Acres
Price / SF$150
Days on Market242
Property Features for 1146 Upper Front St
General Information
Standard status
Active
Size
8,000 SF
Lot size
0.54 Acres
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Building Details
Buildings
1
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Binghamton
(607) 743-4551
Listed By:
Patricia (Trish) Grassi
(607) 743-4551
Source:
Moodyscre
Added: Jan 2
Changed: Aug 30
Last Checked: Aug 30 at 10:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | Pyramid Brokerage - Binghamton
Investment Insights
Based on property information with market context.
This freestanding mixed-use property combines approximately 4,000 SF of retail space with a one-bedroom apartment positioned at the rear of the building. The property occupies 0.54 acres and is configured for both commercial and residential use within the same structure.
Located at 1146 Upper Front St in Binghamton, the property is surrounded by national retailers, big-box stores, and quick-serve restaurants. Interstate 86 provides convenient on-and-off access, while the Upper Front Street setting offers high traffic and visibility.
Located at 1146 Upper Front St in Binghamton, the property is surrounded by national retailers, big-box stores, and quick-serve restaurants. Interstate 86 provides convenient on-and-off access, while the Upper Front Street setting offers high traffic and visibility.
Key Highlights
- 4,000 SF of retail space
- Rear one‑bedroom apartment
- 0.54‑acre property
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
$80,472
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
6.71%
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%
$1,609,440
$1.6M
Cap Rate 7%
$1,149,600
$1.1M
Cap Rate 9%
$894,133
$894.1K
Market Conditions
NOI Build-Up for 8,000 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
$120.0K $15.00/SF
− Vacancy
−$5.0K −$0.63/SF
EGI
$115.0K $14.37/SF
− OpEx
−$34.5K −$4.31/SF
NOI
$80.5K $10.06/SF
Area
Broome County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$1,609,440
Cap Rate 7%
$1,149,600
Cap Rate 9%
$894,133
Alternative Uses
Best Use
Retail
$1.15M
$1.01M – $1.34M
NOI $80,472 @ 7.0% cap · market cap 6.71%
Second Best
Mixed Use
$1.10M
$966.4K – $1.29M
NOI $77,310 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$1.98M
$1.74M – $2.32M
NOI $138,931 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Freestanding commercial property combines retail space with a rear one-bedroom apartment and convenient access to Interstate 86.
Where is this mixed-use property located?
The property is located at 1146 Upper Front St Binghamton, NY.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4,000 SF of retail space; Rear one‑bedroom apartment; 0.54‑acre property
