Mixed-Use Student Housing
47 Carroll Street Binghamton, NY 13901
47 Carroll Street, Binghamton, NY, 13901
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For Sale
Contact for pricing
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 Market31
Property Features for 47 Carroll Street
General Information
- Standard status
- Active
- Size
- 8,420 SF
- Property subtype
- Multifamily, Mixed Use
Building Details
- Year Built
- 1960
Listing agency
eXp Realty
Listed by
Amity Deubler · License #10401395123
Source
Crexi
Added: Jun 22 Updated: Jul 20 at 9:27PM Checked: Jul 22 at 10:20AM
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
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
Local Financial Insights For Retail
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 | $126.3k | $15.00 |
| − Vacancy | −$5.3k | −$0.63 |
| EGI | $121.0k | $14.37 |
| − OpEx | −$36.3k | −$4.31 |
| NOI | $84.7k | $10.06 |
8,420 SF · lease $15.00/SF/yr · vacancy 4.20% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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
