CVS Drug Store with
For Sale
Contact for pricing
157-163 Robinson Street, Binghamton, NY 13904
Built in 2006, the site has a long-term CVS lease and a dedicated vehicle service lane.
Property Size10,125 SF
Price / SF$337
Days on Market9
Property Features for 157-163 Robinson Street
General Information
Standard status
Active
Size
10,125 SF
Property subtype
Retail
Occupancy
100%
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Highway Access
Yes
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay
Listed By:
Matthew Nadler · License #MA 134870
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 24 at 3:13PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This 10,125-square-foot drug store was completed in 2006 and is occupied by CVS. A dedicated drive-through lane serves the building. The fee-simple property has more than 9 years remaining on the lease, along with five 5-year renewal options.
The property sits at the signal-controlled junction of Robinson Street and Broad Avenue, with access to US Route 11 and NY Route 363/7. Interstate 81 and NY Route 17/Interstate 86 connect the wider region. Nearby institutional and employment sources include UHS Binghamton General Hospital, Binghamton University, SUNY Broome, Lockheed Martin, BAE Systems, Lourdes, and Broome County government. UHS Binghamton General Hospital has 220 beds; UHS Wilson Medical Center is in Johnson City.
The property sits at the signal-controlled junction of Robinson Street and Broad Avenue, with access to US Route 11 and NY Route 363/7. Interstate 81 and NY Route 17/Interstate 86 connect the wider region. Nearby institutional and employment sources include UHS Binghamton General Hospital, Binghamton University, SUNY Broome, Lockheed Martin, BAE Systems, Lourdes, and Broome County government. UHS Binghamton General Hospital has 220 beds; UHS Wilson Medical Center is in Johnson City.
Key Highlights
- CVS occupies the 10,125‑square‑foot building
- Dedicated drive‑through lane
- Constructed in 2006
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
$130,947
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
3.83%
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%
$2,618,940
$2.6M
Cap Rate 7%
$1,870,671
$1.9M
Cap Rate 9%
$1,454,967
$1.5M
Market Conditions
NOI Build-Up for 10,125 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
$182.3K $18.00/SF
− Vacancy
−$7.7K −$0.76/SF
EGI
$174.6K $17.24/SF
− OpEx
−$43.6K −$4.31/SF
NOI
$130.9K $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%
$2,618,940
Cap Rate 7%
$1,870,671
Cap Rate 9%
$1,454,967
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,947 @ 7.0% cap · market cap 3.83%
Second Best
Retail
$1.45M
$1.27M – $1.70M
NOI $101,847 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,835 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13904, NY
9,236
Population
3,962
Households
2.3
Avg Household Size
46
Median Age
19%
College-Educated
81%
High-School Grad
23.7 sq mi
ZIP Area
390
Density / Sq Mi
$56,794
Median Household Income
$36,038
Median Earnings
$884
Median Rent
$111,200
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?
Drug store - Built in 2006, the site has a long-term CVS lease and a dedicated vehicle service lane.
Where is this drug store located?
The property is located at 157-163 Robinson Street Binghamton, NY.
What is the asking price?
The asking price for this property is $3,422,222.
What are key features of this property?
This property features: CVS occupies the 10,125‑square‑foot building; Dedicated drive‑through lane; Constructed in 2006
