Mixed-Use Student Housing
New
For Sale
$1,390,000
161 Court St, Binghamton, NY 13901
Six student apartments and two commercial units combine residential occupancy with ground-floor leasing space.
Property Size7,438 SF
Days on Market2
Property Features for 161 Court St
General Information
Standard status
Active
Size
7,438 SF
Class
C
Property subtype
Multi-Family
Financials
Asking Price
$599,000
Cap Rate
9%
Site & Location
Corner Location
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Amenities
common student lounge
Building Details
Building Size
7,438 SF
Year Built
1915
Year Renovated
2026
Buildings
1
Units
7
Listing Agency:
SVN | Innovative Commercial Advisors
Listed By:
Scott Warren, CCIM, CIREC
Source:
Commercialcafe
Added: Oct 19
Last Checked: Oct 19 at 2:50PM
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 SVN | Innovative Commercial Advisors
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Investment Insights
Based on property information with market context.
At 161 Court Street, six apartments provide a total of 15 beds in two- and three-bedroom layouts. The apartments are leased to students, and a first-floor lounge serves as shared space. The property also contains two commercial units, one of which is vacant. Electric service is separately metered, with the landlord covering a limited portion of each apartment’s monthly electric cost and residents paying charges above that amount.
The building occupies the corner of Court and Carroll Streets in downtown Binghamton. Bus service is available along the property, and restaurants, shops, and entertainment are within walking distance. Court Street carries approximately 7,395 vehicles per day; the reported Walk Score is 82/100. The property was built in 1915 and has a reported 9% cap rate.
The building occupies the corner of Court and Carroll Streets in downtown Binghamton. Bus service is available along the property, and restaurants, shops, and entertainment are within walking distance. Court Street carries approximately 7,395 vehicles per day; the reported Walk Score is 82/100. The property was built in 1915 and has a reported 9% cap rate.
Key Highlights
- Six apartments with two- and three‑bedroom layouts; 15 student beds total
- Apartments are leased to students
- Two commercial units, including one vacancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,879
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,580
$1.4M
Cap Rate 7%
$1,026,843
$1.0M
Cap Rate 9%
$798,656
$798.7K
Market Conditions
NOI Build-Up for 7,438 SF
Gross rent
$133.9K $18.00/SF
− Vacancy
−$18.9K −$2.54/SF
EGI
$115.0K $15.46/SF
− OpEx
−$43.1K −$5.80/SF
NOI
$71.9K $9.66/SF
Area
Broome County, NY
Vacancy
14.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,437,580
Cap Rate 7%
$1,026,843
Cap Rate 9%
$798,656
Alternative Uses
Best Use
Mixed Use
$1.03M
$898.5K – $1.20M
NOI $71,879 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$885.2K
$774.6K – $1.03M
NOI $61,965 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$1.85M
$1.61M – $2.15M
NOI $129,171 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,001
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Six student apartments and two commercial units combine residential occupancy with ground-floor leasing space.
Where is this mixed-use property located?
The property is located at 161 Court St Binghamton, NY.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: Six apartments with two- and three‑bedroom layouts; 15 student beds total; Apartments are leased to students; Two commercial units, including one vacancy
