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    204 Grand Ave Johnson City, NY 13790

    Sponsored
    For Sale
    $2,100,000

    Grand Ave Portfolio

    Property size:
    15,613 SF

    Description

    Added:
    May 7, 2025
    Days on Market:
    245
    opportunity to acquire a large number of units, fully performing, and meticulously upgraded over the past several years. Here are the details:

    83 Grand Avenue: Two story, five unit residential building consisting of one and three bedroom apartments- all units have been upgraded and additional income is derived from the laundry. Tenants pay their own separately metered gas & electric.

    200 Grand - less than 1 minute down the road from 83 Grand, this location consists of a 1 story, and highly successful, convenience store on a multi year lease. At the rear of the lot is a two story, one bedroom house. Both tenants pay their own separately metered gas & electric.

    204 Grand is a three story, corner apartment building with 16 apartments: (8) one and (8) two bedroom units. All but three units have been upgraded and show pride of ownership - Tenants pay their own separately metered gas & electric. Additional income is derived from the laundry.

    This four building portfolio is only 5 minutes from Binghamton University and a short walk to Binghamton University School of Nursing, School of Pharmacy, the UHS Medical Center. and public transportation. A number of tenants work at the Hospital complex due to it's proximity.

    Unlike a majority of Binghamton/Johnson City offerings where it will take 2-3 years to turn over and upgrade units, this portfolio offers an investor a turn-key performing portfolio, and a 10.5% (approx) return from day one.

    Extensive library of location/unit photos available upon request.

    Property Features for 204 Grand Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,613 SF
    Price / Square Foot
    $134
    Elevators
    N/A
    Net Rentable
    15,613 SF
    Occupancy
    95%

    Building Details

    Buildings
    1
    Stories
    3
    Units
    23

    HighLights

    • 23 unit, fully performing, mixed use portfolio just minutes from Binghamton University and UHS Medical Center in Broome County New York Two locations, just a minute apart, consisting of three residential and one commercial buildings. Extensively upgraded over the past few years and 100% occupied. 10.5% (approx) return on day one makes this an ideal plug and play opportunity, perfect to complement an existing portfolio or as a first time investment. Location (walking distance to UHS Medical Center, Binghamton school of Nursing and Binghamton School of Pharmacy) is why a number of tenants are in the medical profession. Commercial tenant on seven year lease with two (5 year) options.
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    State
    New York
    Longitude
    -75.9593091
    Latitude
    42.1103045

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    FAQs

    What type of property is this?
    Multifamily property - Grand Ave Portfolio
    Where is this multifamily property located?
    The property is located at 204 Grand Ave Johnson City, NY.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: 23 unit, fully performing, mixed use portfolio just minutes from Binghamton University and UHS Medical Center in Broome County New York Two locations, just a minute apart, consisting of three residential and one commercial buildings. Extensively upgraded over the past few years and 100% occupied. 10.5% (approx) return on day one makes this an ideal plug and play opportunity, perfect to complement an existing portfolio or as a first time investment. Location (walking distance to UHS Medical Center, Binghamton school of Nursing and Binghamton School of Pharmacy) is why a number of tenants are in the medical profession. Commercial tenant on seven year lease with two (5 year) options.
    (201) 742-6124
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    204 Grand Ave Johnson City, NY 13790
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    Johnson City, NY 13790
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    204 Grand Ave Johnson City, NY 13790
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