CVS Drug Store with
249 Main Street, Binghamton, NY 13905
For Sale
Contact for pricing
The CVS tenancy has more than seven years remaining, with five renewal options available.
Property Size10,125 SF
Price / SF$268.08
Days on Market54
Property Features for 249 Main Street
General Information
Standard status
Size
Property subtype
Site & Location
Drive-Thru
Highway Access
Road Access
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Horvath & Tremblay
Listed By:
Matthew Nadler · License MA #134870
Source:
Crexi
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 10 at 5:41AM
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
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Investment Insights
Based on property information with market context.
Built in 2003, this 10,125-square-foot drug store is occupied by CVS and includes a dedicated drive-through lane. The tenant has extended its lease, which has more than seven years remaining and five, five-year renewal options.
The property is on Main Street, a north-south commercial corridor serving Binghamton and nearby communities. Interstate 81 and NY Route 17/Interstate 86 connect the region with Syracuse, Scranton, and the Southern Tier. Nearby institutions and employers include United Health Services, Binghamton University, SUNY Broome, Lockheed Martin, BAE Systems, Lourdes, and Broome County government. UHS Binghamton General Hospital, with 220 beds, and UHS Wilson Medical Center are also in the surrounding area.
The property is on Main Street, a north-south commercial corridor serving Binghamton and nearby communities. Interstate 81 and NY Route 17/Interstate 86 connect the region with Syracuse, Scranton, and the Southern Tier. Nearby institutions and employers include United Health Services, Binghamton University, SUNY Broome, Lockheed Martin, BAE Systems, Lourdes, and Broome County government. UHS Binghamton General Hospital, with 220 beds, and UHS Wilson Medical Center are also in the surrounding area.
Key Highlights
- 10,125‑square‑foot building constructed in 2003
- CVS lease has 7+ years remaining
- Five (5), five‑year renewal options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,947
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
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
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 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 4.82%
Second Best
Retail
$1.45M
$1.27M – $1.70M
NOI $101,847 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,835 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 39%
Electronics 5%
Burger King
Dining
13,550 visits/mo
0.2 miles
Speedway
Shops & Services
11,024 visits/mo
0.3 miles
Kwik Fill
Shops & Services
4,719 visits/mo
0.2 miles
KeyBank
Shops & Services
2,389 visits/mo
0.2 miles
Cricket Wireless Authorized Retailer
Electronics
1,714 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
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- The Best Me to Be — 157 chapin st, binghamton, ny 13905
- Price Chopper Pharmacy — 10 Glenwood Ave, Binghamton, NY 13905
Frequently Asked Questions
What type of property is this?
Drug store - The CVS tenancy has more than seven years remaining, with five renewal options available.
Where is this drug store located?
The property is located at 249 Main Street Binghamton, NY.
What is the asking price?
The asking price for this property is $2,714,286.
What are key features of this property?
This property features: 10,125‑square‑foot building constructed in 2003; CVS lease has 7+ years remaining; Five (5), five‑year renewal options
