Freestanding Harbor Freight Investment
1272 Upper Front St, Binghamton, NY
Call to check price and availability
Single-tenant Harbor Freight in Binghamton, NY with long-term lease.
Type:RETAIL
Property size:
16,500 SFLot size:
2.13 AcresPrice / SF:
$157/SF- Added:
- Aug 26, 2025
- Days on Market:
- 269
- Last Refresh:
- Apr 5 at 9:31 pm
Property Features for 1272 Upper Front St
General Information
- Standard status
- Active
- Size
- 16,500 SF
- Lot size
- 2.13 Acres
- Property subtype
- RETAIL
Listing agent Mohsin Mirza License #475189943
Listing office JLL - Corporate (312) 782-5800
Listing date Aug 26, 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 JLL - Corporate
HighLights
- Freestanding single‑tenant Harbor Freight property
- NN lease with 12.0 years of initial lease term remaining
- 8% rent escalations every 5 years and a 10% escalation upon execution of first renewal option
- Five, five‑year renewal options
- Located along Upper Front St, just off Interstate 81 with direct accessibility to more than 37,000 vehicles per day
- Positioned as an outparcel to Northgate Plaza that generates 1.1 million visits annually
Overview
This freestanding single-tenant Harbor Freight property is located at 1272 Upper Front Street in Binghamton, NY. The property is occupied by Harbor Freight, operating under a NN lease with an initial lease term of 12.0 years. The lease includes 8% rent escalations every 5 years and a 10% escalation upon execution of the first renewal option, with five, five-year renewal options available. Situated along Upper Front St, just off Interstate 81, the property benefits from direct accessibility and high traffic volume of over 37,000 vehicles per day. As an outparcel to Northgate Plaza, which generates 1.1 million visits annually, the location is the most visited shopping center within a 5-mile radius and ranks in the 57th percentile of most visited shopping centers in New York. The property offers a total size of 16,500 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$1.84M
NOI $165,974 @ 9.00% cap · cautious / downside scenario
Moderate
$2.37M
NOI $165,974 @ 7.00% cap · market / base-case scenario
Aggressive
$3.32M
NOI $165,974 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $247.5k | $15.00 |
| − Vacancy | −$10.4k | −$0.63 |
| EGI | $237.1k | $14.37 |
| − OpEx | −$71.1k | −$4.31 |
| NOI | $166.0k | $10.06 |
16,500 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$2.37M
$2.07M – $2.77M
NOI $165,974 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.09M
$3.58M – $4.78M
NOI $286,546 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.8942
- Latitude
- 42.1577
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Single-tenant Harbor Freight in Binghamton, NY with long-term lease.
Where is this retail space located?
The property is located at 1272 Upper Front St Binghamton, NY.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Freestanding single‑tenant Harbor Freight property; NN lease with **12.0 years of initial lease term remaining**; **8% rent escalations every 5 years** and a 10% escalation upon execution of first renewal option
