Mixed-Use Property with
For Sale
$240,000
2 & 4 Erie Street, Binghamton, NY 13905
A separate two-unit residence and an enclosed pole barn add residential and storage components.
Property Size2,016 SF
Price / SF$119.05
Days on Market205
Property Features for 2 & 4 Erie Street
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Residential Income
Zoning
com/res, com/res
Taxes and HOA fees
Annual Taxes
$8,832
Building Details
Building Size
2,016 SF
Year Built
1900
Units
2
Listing Agency:
HOWARD HANNA
(607) 772-1177
Listed By:
George E. Hoch · License #10401200284
(607) 427-5610
Source:
Lindakentrealestate
Added: Apr 10
Changed: Oct 30
Last Checked: Oct 30 at 12:13AM
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 HOWARD HANNA
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Investment Insights
Based on property information with market context.
This mixed-use property combines a commercial warehouse with a two-unit apartment house and a separate vacant parcel improved with an enclosed pole barn. The warehouse contains over 2,600 square feet, including office areas, a large garage bay, and two half bathrooms. The apartment house has two three-bedroom, one-bath units, each with separate utilities.
The first-floor apartment is rented, while the second-floor unit is vacant. Zoning is RES/COM. The additional parcel includes the pole barn, providing another enclosed structure on the property.
The first-floor apartment is rented, while the second-floor unit is vacant. Zoning is RES/COM. The additional parcel includes the pole barn, providing another enclosed structure on the property.
Key Highlights
- Warehouse with over 2,600 square feet, office areas, a large garage bay, and two half bathrooms
- Two‑unit apartment house with two three‑bedroom, one‑bath units
- Separate utilities for the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,482
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$389,640
$389.6K
Cap Rate 7%
$278,314
$278.3K
Cap Rate 9%
$216,467
$216.5K
Market Conditions
NOI Build-Up for 2,016 SF
Gross rent
$36.3K $18.00/SF
− Vacancy
−$5.1K −$2.54/SF
EGI
$31.2K $15.46/SF
− OpEx
−$11.7K −$5.80/SF
NOI
$19.5K $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%
$389,640
Cap Rate 7%
$278,314
Cap Rate 9%
$216,467
Alternative Uses
Best Use
Mixed Use
$278.3K
$243.5K – $324.7K
NOI $19,482 @ 7.0% cap · market cap 8.12%
Second Best
Multifamily LT 5
$257.3K
$225.2K – $300.2K
NOI $18,014 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$500.2K
$437.6K – $583.5K
NOI $35,011 @ 7.0% cap · market cap 14.59%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,291
Businesses Nearby
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Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
Median Home Value
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Market
Vacancy Rate% for Industrial in Binghamton, NY
Frequently Asked Questions
What type of property is this?
Mixed-use property - A separate two-unit residence and an enclosed pole barn add residential and storage components.
Where is this mixed-use property located?
The property is located at 2 & 4 Erie Street Binghamton, NY.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Warehouse with over 2,600 square feet, office areas, a large garage bay, and two half bathrooms; Two‑unit apartment house with two three‑bedroom, one‑bath units; Separate utilities for the apartments
