Former Bank
For Sale
$99,000
28 Garfield Avenue, Endicott, NY 13760
Former bank drive-thru property with access from Garfield Avenue and Monroe Street.
Property Size243 SF
Price / SF$407.41
Days on Market43
Property Features for 28 Garfield Avenue
General Information
Standard status
Active
Size
243 SF
Property subtype
Office
Building Details
Building Size
243 SF
Listing Agency:
Binghamton Office
(607) 754-5990
Listed By:
Jeffrey Sabitus
(607) 754-5990
Source:
Pyramidbrokerage
Added: Jul 10
Changed: Aug 8
Last Checked: Aug 21 at 6:12AM
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 Binghamton Office
Investment Insights
Based on property information with market context.
This property was formerly a bank drive-thru, offering a configuration suited to businesses that need drive-through functionality. The offering is being marketed as a reuse opportunity for a retail corridor.
The site is accessible from both Garfield Avenue and Monroe Street, providing two points of entry for customers and operations.
Because it is a former drive-thru bank, the property’s primary advantage is its existing drive-thru setup for an end user looking to operate from a vehicle-accessible format.
The site is accessible from both Garfield Avenue and Monroe Street, providing two points of entry for customers and operations.
Because it is a former drive-thru bank, the property’s primary advantage is its existing drive-thru setup for an end user looking to operate from a vehicle-accessible format.
Key Highlights
- Former bank drive‑thru property
- Accessible from both Garfield Avenue and Monroe Street
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
$3,143
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
3.17%
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%
$62,860
$62.9K
Cap Rate 7%
$44,900
$44.9K
Cap Rate 9%
$34,922
$34.9K
Market Conditions
NOI Build-Up for 243 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
$4.4K $18.00/SF
− Vacancy
−$184 −$0.76/SF
EGI
$4.2K $17.24/SF
− OpEx
−$1.0K −$4.31/SF
NOI
$3.1K $12.93/SF
Area
Broome County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$62,860
Cap Rate 7%
$44,900
Cap Rate 9%
$34,922
Alternative Uses
Best Use
Specialty Retail
$44.9K
$39.3K – $52.4K
NOI $3,143 @ 7.0% cap · market cap 3.17%
Second Best
Retail
$34.9K
$30.6K – $40.7K
NOI $2,444 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$60.3K
$52.8K – $70.3K
NOI $4,220 @ 7.0% cap · market cap 4.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
106k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Shops & Services 32%
Groceries 27%
Electronics 2%
Price Chopper Supermarkets
Groceries
28,152 visits/mo
0.3 miles
Wendy's
Dining
28,070 visits/mo
0.3 miles
Dunkin' Donuts
Dining
12,018 visits/mo
0.3 miles
Speedway
Shops & Services
10,772 visits/mo
0.5 miles
Dollar General
Shops & Services
5,434 visits/mo
0.4 miles
Demographics for 13760, NY
44,153
Population
20,988
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
49.3 sq mi
ZIP Area
896
Density / Sq Mi
$63,242
Median Household Income
$41,939
Median Earnings
$883
Median Rent
$150,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Former bank drive-thru property with access from Garfield Avenue and Monroe Street.
Where is this bank located?
The property is located at 28 Garfield Avenue Endicott, NY.
What is the asking price?
The asking price for this property is $99,000.
What are key features of this property?
This property features: Former bank drive‑thru property; Accessible from both Garfield Avenue and Monroe Street
