Main Street Multifamily Investment
For Sale
$857,500
327 Main St, Binghamton, NY 13905
Commercially zoned multifamily property near SUNY and public transportation.
Property Size7,904 SF
Days on Market91
Property Features for 327 Main St
General Information
Standard status
Active
Size
7,904 SF
Property subtype
Multi-Family
Building Details
Building Size
7,904 SF
Year Built
1965
Year Renovated
2021
Units
10
Listing Agency:
SVN | Innovative Commercial Advisors
(607) 621-0439
Listed By:
Scott Warren, CCIM · License #10301220936
Source:
Commercialcafe
Added: May 16
Changed: Aug 8
Last Checked: Jul 16 at 3:22AM
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 SVN | Innovative Commercial Advisors
Investment Insights
Based on property information with market context.
Located directly on Main Street in Binghamton's West Side, this commercially zoned property is approved for student housing. The solid brick building features 6 two-bedroom units and 4 one-bedroom units. Situated in a prime location, the property offers convenient access to SUNY and public transportation bus lines. Numerous restaurants, shops, and amenities are within walking distance. Recent updates and renovations have been completed. The property has a solid rent roll, making it an ideal investment.
Key Highlights
- Prime Main Street location with easy access to SUNY and public transportation.
- Commercially zoned and approved for student housing.
- Features 6 two‑bedroom units and 4 one‑bedroom units.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$65,847
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,316,940
$1.3M
Cap Rate 7%
$940,671
$940.7K
Cap Rate 9%
$731,633
$731.6K
Market Conditions
NOI Build-Up for 7,904 SF
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.
Gross rent
$128.0K $16.20/SF
− Vacancy
−$8.3K −$1.05/SF
EGI
$119.7K $15.15/SF
− OpEx
−$53.9K −$6.82/SF
NOI
$65.8K $8.33/SF
Area
Broome County, NY
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,316,940
Cap Rate 7%
$940,671
Cap Rate 9%
$731,633
Alternative Uses
Best Use
Apartment 5plus
$940.7K
$823.1K – $1.10M
NOI $65,847 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,264 @ 7.0% cap · market cap 16.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
Businesses Nearby
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
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 - Commercially zoned multifamily property near SUNY and public transportation.
Where is this apartment building located?
The property is located at 327 Main St Binghamton, NY.
What is the asking price?
The asking price for this property is $857,500.
What are key features of this property?
This property features: Prime Main Street location with easy access to SUNY and public transportation.; Commercially zoned and approved for student housing.; Features 6 two‑bedroom units and 4 one‑bedroom units.
