Multi-Tenant Flex
31 Lewis Road, Binghamton, NY 13905
For Sale
Contact for pricing
The building combines flexible commercial space with office areas in a multi-occupant configuration.
Property Size97,932 SF
Price / SF$79.18
Days on Market29
Property Features for 31 Lewis Road
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Property Use
Building Details
Building Size
Tenancy
Listing Agency:
Sands Investment Group
Listed By:
Andrew Ackerman · License FL BK3369953
(954) 385-0000
Source:
Crexi
Added: Oct 13
Changed: Nov 8
Last Checked: Nov 8 at 4:03PM
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 Sands Investment Group
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Investment Insights
Based on property information with market context.
At 31 Lewis Road in Binghamton, this 97,932-square-foot property is configured as multi-tenant flex and office space. Its format combines flexible commercial areas with office use.
Interstate 81 and Interstate 86 provide regional highway connections from the property, serving routes through Upstate New York, Pennsylvania, and the Northeast.
Interstate 81 and Interstate 86 provide regional highway connections from the property, serving routes through Upstate New York, Pennsylvania, and the Northeast.
Key Highlights
- 97,932 SF multi‑tenant flex and office property
- Located at 31 Lewis Road in Binghamton
- Access to Interstate 81 and Interstate 86
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$605,685
Cap Rate
7.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,113,700
$12.1M
Cap Rate 7%
$8,652,643
$8.7M
Cap Rate 9%
$6,729,833
$6.7M
Market Conditions
NOI Build-Up for 97,932 SF
Gross rent
$928.4K $9.48/SF
− Vacancy
−$63.1K −$0.64/SF
EGI
$865.3K $8.84/SF
− OpEx
−$259.6K −$2.65/SF
NOI
$605.7K $6.18/SF
Area
Broome County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,113,700
Cap Rate 7%
$8,652,643
Cap Rate 9%
$6,729,833
Alternative Uses
Best Use
Office B
$18.17M
$15.90M – $21.20M
NOI $1,271,843 @ 7.0% cap · market cap 16.40%
Second Best
Industrial
$8.65M
$7.57M – $10.09M
NOI $605,685 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$24.30M
$21.26M – $28.35M
NOI $1,700,726 @ 7.0% cap · market cap 21.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Binghamton, NY
Frequently Asked Questions
What type of property is this?
Flex space - The building combines flexible commercial space with office areas in a multi-occupant configuration.
Where is this flex space located?
The property is located at 31 Lewis Road Binghamton, NY.
What is the asking price?
The asking price for this property is $7,754,110.
What are key features of this property?
This property features: 97,932 SF multi‑tenant flex and office property; Located at 31 Lewis Road in Binghamton; Access to Interstate 81 and Interstate 86
