Renovated NNN Retail
For Sale
Contact for pricing
1272 Front St, Binghamton, NY 13901
Renovated retail property leased to Harbor Freight Tools under a corporate guarantee with rental increases.
Property Size16,500 SF
Price / SF$142.24
Days on Market173
Property Features for 1272 Front St
General Information
Standard status
Active
Size
16,500 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$164,304
Building Details
Year Built
1975
Year Renovated
2025
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap | The Patel Yozwiak Group
Listed By:
Darpan Patel · License #OH SAL.2012000748
Source:
Crexi
Added: Mar 12
Changed: Aug 31
Last Checked: Aug 31 at 2:26AM
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 Marcus & Millichap | The Patel Yozwiak Group
Investment Insights
Based on property information with market context.
This NNN retail property encompasses 16,500 square feet at 1272 Front St in Binghamton, New York. The building dates to 1975 and was renovated in 2025. Harbor Freight Tools occupies the property under a new 12-year lease, providing an established retail use within the existing building.
Lease terms include a corporate guarantee and rental increases. The property is positioned approximately one hour south of Syracuse, adding broader regional context to its Binghamton location. The combination of a renovated building, a named retail occupant, and a long-term lease structure defines the offering.
Lease terms include a corporate guarantee and rental increases. The property is positioned approximately one hour south of Syracuse, adding broader regional context to its Binghamton location. The combination of a renovated building, a named retail occupant, and a long-term lease structure defines the offering.
Key Highlights
- 16,500 SF retail property at 1272 Front St, Binghamton, NY 13901
- Harbor Freight Tools occupies the property
- New 12‑year lease
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
$165,974
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
7.07%
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%
$3,319,480
$3.3M
Cap Rate 7%
$2,371,057
$2.4M
Cap Rate 9%
$1,844,156
$1.8M
Market Conditions
NOI Build-Up for 16,500 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
$247.5K $15.00/SF
− Vacancy
−$10.4K −$0.63/SF
EGI
$237.1K $14.37/SF
− OpEx
−$71.1K −$4.31/SF
NOI
$166.0K $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%
$3,319,480
Cap Rate 7%
$2,371,057
Cap Rate 9%
$1,844,156
Alternative Uses
Best Use
Retail
$2.37M
$2.07M – $2.77M
NOI $165,974 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.09M
$3.58M – $4.78M
NOI $286,546 @ 7.0% cap · market cap 12.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 13901, NY
20,548
Population
10,148
Households
2
Avg Household Size
40
Median Age
26%
College-Educated
87%
High-School Grad
23.0 sq mi
ZIP Area
893
Density / Sq Mi
$54,165
Median Household Income
$36,897
Median Earnings
$806
Median Rent
$152,800
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?
NNN property - Renovated retail property leased to Harbor Freight Tools under a corporate guarantee with rental increases.
Where is this nnn property located?
The property is located at 1272 Front St Binghamton, NY.
What is the asking price?
The asking price for this property is $2,347,000.
What are key features of this property?
This property features: 16,500 SF retail property at 1272 Front St, Binghamton, NY 13901; Harbor Freight Tools occupies the property; New 12‑year lease
