Mixed-Use Income Property with
For Sale
Contact for pricing
248 Chenango Street, Binghamton, NY 13901
Mixed-use building with five apartments and two ground-floor commercial leases, plus deeded right-of-way parking.
Property Size9,500 SF
Price / SF$50.53
Days on Market57
Property Features for 248 Chenango Street
General Information
Standard status
Active
Size
9,500 SF
Class
B
Total Parking Spaces
3
Property subtype
Multifamily, Mixed Use
Zoning
R2
Occupancy
100%
Financials
Cap Rate
7.18%
Business Included
Yes
Additional Details
Multifamily Units
5
Building Details
Year Built
1960
Tenancy
Multi
Listed By:
Destiny Barrera · License #10401399314
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 13 at 3:21PM
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 Destiny Barrera
Investment Insights
Based on property information with market context.
This mixed-use income property spans approximately 9,500 square feet and is operated with seven income-producing units. The building includes five residential apartments and two ground-floor commercial spaces, with the commercial leases described as providing escalating rents. The seller also notes a 7.18% cap rate on in-place income.
A deeded right-of-way from Doubleday Street provides parking for three vehicles, with the potential for up to five vehicles when thoughtfully arranged. The remarks also state zoning approvals are already in hand for three additional residential units on the third floor.
For tenants, the property supports a combination of apartment living and leased storefront space under one ownership. For buyers or investors, it offers existing, unit-level income from seven secured leases and an additional, approved expansion plan for adding three third-floor residential units. The seller further references attractive assignable seller finance as part of the transaction terms described in the listing.
A deeded right-of-way from Doubleday Street provides parking for three vehicles, with the potential for up to five vehicles when thoughtfully arranged. The remarks also state zoning approvals are already in hand for three additional residential units on the third floor.
For tenants, the property supports a combination of apartment living and leased storefront space under one ownership. For buyers or investors, it offers existing, unit-level income from seven secured leases and an additional, approved expansion plan for adding three third-floor residential units. The seller further references attractive assignable seller finance as part of the transaction terms described in the listing.
Key Highlights
- Mixed‑use building with 7 income‑producing units: 5 residential apartments and 2 ground‑floor commercial leased spaces
- Approximately 9,500 SF building with a 7.18% cap rate on in‑place income
- Leases on the 2 ground‑floor commercial spaces include escalating rents
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,866
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use building with five apartments and two ground-floor commercial leases, plus deeded right-of-way parking.
Where is this apartment building located?
The property is located at 248 Chenango Street Binghamton, NY.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Mixed‑use building with 7 income‑producing units: 5 residential apartments and 2 ground‑floor commercial leased spaces; Approximately 9,500 SF building with a 7.18% cap rate on in‑place income; Leases on the 2 ground‑floor commercial spaces include escalating rents
