1179 Vestal Ave, Binghamton, NY
Retail space near Binghamton General Hospital with long-term tenant.
- Added:
- Aug 7, 2025
- Days on Market:
- 311
- Last Refresh:
- May 20 at 8:10 pm
Property Features for 1179 Vestal Ave
General Information
- Standard status
- Active
- Size
- 8,500 SF
- Lot size
- 0.49 Acres
- Property subtype
- RETAIL
Listing agent Leo Jones (607) 427-5998
Listing office Cushman & Wakefield | Pyramid Brokerage - Binghamton (607) 427-5998
Listing date Aug 7, 2025
Source Moodyscre
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
HighLights
- High Annual Rent: $110,400 NNN
- Long‑term Tenant in Place
- Favorable Lease Terms: Lease extends 1/1/2025 – 12/31/2027 with a 3‑year renewal option at $112,800/year NNN
- Landlord Limited Responsibilities: Responsible for roof, structure, and HVAC replacement
- Located in an Area of Limited Retail Space
- Out of 500‑year Flood Plain
Overview
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $127.5k | $15.00 |
| − Vacancy | −$5.4k | −$0.63 |
| EGI | $122.1k | $14.37 |
| − OpEx | −$36.6k | −$4.31 |
| NOI | $85.5k | $10.06 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9145
- Latitude
- 42.0893
