Mixed-Use Student Housing
For Sale
Contact for pricing
47 Carroll Street, Binghamton, NY 13901
Four-story brick building with apartments and a separate commercial kitchen space, currently vacant and ready for lease-up.
Property Size8,420 SF
Price / SF$118.76
Days on Market122
Property Features for 47 Carroll Street
General Information
Standard status
Active
Size
8,420 SF
Property subtype
Multifamily, Mixed Use
Zoning
R-3
Additional Details
Multifamily Units
6
Building Details
Year Built
1960
Stories
4
Tenancy
Multi
Listing Agency:
eXp Realty
Listed By:
Amity Deubler · License #10401395123
Source:
Crexi
Added: Jun 22
Changed: Oct 2
Last Checked: Oct 20 at 8:04PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This four-story brick building offers a flexible mixed-use configuration with six apartments totaling 18 bedrooms and six full bathrooms, along with a separate commercial space with a kitchen and two half bathrooms. Each apartment includes central air, in-unit washer and dryer, stainless steel appliances, a gas range, hardwood floors, separate entrances, and covered porches. The building also includes keyless biometric entry, surveillance cameras, and a central station alarm system, with separate utility meters for the apartments and commercial component.
The property is described as being directly across from City Park in downtown Binghamton. It is currently vacant and ready for lease-up.
Based on the information provided, the asset has been operated historically as student housing and is positioned to generate income from both the residential and commercial portions of the building.
The property is described as being directly across from City Park in downtown Binghamton. It is currently vacant and ready for lease-up.
Based on the information provided, the asset has been operated historically as student housing and is positioned to generate income from both the residential and commercial portions of the building.
Key Highlights
- 8,400 SF, four‑story brick building (built in 1960) directly across from City Park in downtown Binghamton
- Six apartments with 18 bedrooms and 6 full bathrooms, with separate entrances and covered porches
- Central air plus in‑unit washer/dryer in each apartment; stainless steel appliances and gas range included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,697
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,693,940
$1.7M
Cap Rate 7%
$1,209,957
$1.2M
Cap Rate 9%
$941,078
$941.1K
Market Conditions
NOI Build-Up for 8,420 SF
Gross rent
$126.3K $15.00/SF
− Vacancy
−$5.3K −$0.63/SF
EGI
$121.0K $14.37/SF
− OpEx
−$36.3K −$4.31/SF
NOI
$84.7K $10.06/SF
Area
Broome County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,693,940
Cap Rate 7%
$1,209,957
Cap Rate 9%
$941,078
Alternative Uses
Best Use
Retail
$1.21M
$1.06M – $1.41M
NOI $84,697 @ 7.0% cap · market cap 8.47%
Second Best
Apartment 5plus
$1.00M
$876.8K – $1.17M
NOI $70,146 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,225 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,997
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Four-story brick building with apartments and a separate commercial kitchen space, currently vacant and ready for lease-up.
Where is this apartment building located?
The property is located at 47 Carroll Street Binghamton, NY.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 8,400 SF, four‑story brick building (built in 1960) directly across from City Park in downtown Binghamton; Six apartments with 18 bedrooms and 6 full bathrooms, with separate entrances and covered porches; Central air plus in‑unit washer/dryer in each apartment; stainless steel appliances and gas range included
