Binghamton Retail Investment
1179 Vestal Ave Binghamton, NY
For Sale
Contact for pricing
Retail space near Binghamton General Hospital with long-term tenant.
Property Size8,500 SF
Lot Size0.49 Acres
Price / SF$114.71
Days on Market357
Property Features for 1179 Vestal Ave
General Information
Standard status
Active
Size
8,500 SF
Lot size
0.49 Acres
Property subtype
RETAIL
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Binghamton
(607) 427-5998
Listed By:
Leo Jones
(607) 427-5998
Source:
Moodyscre
Added: Aug 7, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:08AM
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 retail property presents an investment opportunity in an area with limited retail space. The property is located close to Binghamton General Hospital. The lease terms are from January 1, 2025, to December 31, 2027, with an annual rent of $110,400 NNN. The landlord is responsible for the roof, structure, and HVAC replacement. There is one 3-year option to renew at $112,800 per year NNN. The property has a long-term tenant and is out of the 500-year flood plain. In 2021, metal corrugated siding was added along the western side of the building. The property size is 8500 square feet.
Key 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
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 |
8,500 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.43M
NOI $85,502 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.46M
NOI $147,614 @ 7.0% cap · market cap 15.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Retail space - Retail space near Binghamton General Hospital with long-term tenant.
Where is this retail space located?
The property is located at 1179 Vestal Ave Binghamton, NY.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 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
