Free-Standing Office/Industrial
29 Industrial Park Drive Binghamton, NY 13904
New
For Sale
$5,200,000
Renovated 2024 facility with two dock doors, one drive-in door, 18'-6" clear height, and ample parking.
Property Size74,186 SF
Lot Size9.60 Acres
Price / SF$70.09
Days on Market5
Property Features for 29 Industrial Park Drive
General Information
Standard status
Active
Size
74,186 SF
Lot size
9.60 Acres
Property subtype
Industrial
Listing Agency:
CBRE - Syracuse
(607) 221-5302
Listed By:
Rick Searles · License #40SE1174420
(607) 221-5302
Source:
Cbre
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 29 at 3:55AM
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 CBRE - Syracuse
Investment Insights
Based on property information with market context.
This free-standing office/industrial facility offers a combined office and high-bay warehouse configuration, with approximately 51,686± SF of office space (about 70%) and approximately 22,400± SF of high-bay office/warehouse. Improvements include two dock doors and one drive-in door, with warehouse clear height ranging up to 18'-6". The property was renovated in 2024 and includes column spacing of approximately 50' x 50'.
The site is offered on 9.6± acres and provides power service noted as 400-amp/4,000-amp with 277/480 three-phase, four-wire AC. Parking is described as ample, with 277 spaces, noted as resurfaced in 2020 and stated as expandable.
The site is offered on 9.6± acres and provides power service noted as 400-amp/4,000-amp with 277/480 three-phase, four-wire AC. Parking is described as ample, with 277 spaces, noted as resurfaced in 2020 and stated as expandable.
Key Highlights
- Approximately 75,000 SF free‑standing office/industrial facility in Kirkwood Industrial Park (Binghamton, NY)
- Renovated in 2024 with office/warehouse split: 51,686± SF office (70%) and 22,400± SF high bay office/warehouse
- 18'-6" clear height (warehouse 20') with 50' x 50' column spacing
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $703.3k | $9.48 |
| − Vacancy | −$47.8k | −$0.64 |
| EGI | $655.5k | $8.84 |
| − OpEx | −$196.6k | −$2.65 |
| NOI | $458.8k | $6.18 |
74,186 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Warehouse
$7.96M
$6.96M – $9.29M
NOI $557,141 @ 7.0% cap · market cap 10.71%
Second Best
Industrial
$6.55M
$5.74M – $7.65M
NOI $458,822 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$18.40M
$16.10M – $21.47M
NOI $1,288,344 @ 7.0% cap · market cap 24.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Flex space - Renovated 2024 facility with two dock doors, one drive-in door, 18'-6" clear height, and ample parking.
Where is this flex space located?
The property is located at 29 Industrial Park Drive Binghamton, NY.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Approximately 75,000 SF free‑standing office/industrial facility in Kirkwood Industrial Park (Binghamton, NY); Renovated in 2024 with office/warehouse split: 51,686± SF office (70%) and 22,400± SF high bay office/warehouse; 18'-6" clear height (warehouse 20') with 50' x 50' column spacing
