Laundromat
For Sale
$215,000
638 Chenango Street, Binghamton, NY 13901
An operating laundromat occupies a commercially zoned property with on-site parking.
Property Size1,204 SF
Price / SF$178.57
Days on Market381
Property Features for 638 Chenango Street
General Information
Standard status
Active
Size
1,204 SF
Property subtype
Commercial
Zoning
Commercial, Commercial
Site & Location
Corner Location
Yes
Highway Access
Yes
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$5,826
Building Details
Building Size
1,204 SF
Year Built
1985
Listing Agency:
EXIT REALTY HOMEWARD BOUND
(607) 729-5500
Listed By:
John J. Farrell · License #30FA0760806
(607) 760-5000
Source:
Lindakentrealestate
Added: Oct 16, 2025
Changed: Oct 30
Last Checked: Oct 30 at 2:07AM
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 EXIT REALTY HOMEWARD BOUND
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The storefront is occupied by an existing laundromat and includes on-site parking. The building dates to 1985 and carries Commercial zoning.
The property sits at the Chenango Street and Bromley Avenue intersection in Binghamton, with access to nearby highways.
The property sits at the Chenango Street and Bromley Avenue intersection in Binghamton, with access to nearby highways.
Key Highlights
- Existing laundromat business
- Corner location at Chenango Street and Bromley Avenue
- Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,111
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$242,220
$242.2K
Cap Rate 7%
$173,014
$173.0K
Cap Rate 9%
$134,567
$134.6K
Market Conditions
NOI Build-Up for 1,204 SF
Gross rent
$18.1K $15.00/SF
− Vacancy
−$759 −$0.63/SF
EGI
$17.3K $14.37/SF
− OpEx
−$5.2K −$4.31/SF
NOI
$12.1K $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%
$242,220
Cap Rate 7%
$173,014
Cap Rate 9%
$134,567
Alternative Uses
Best Use
Retail
$173.0K
$151.4K – $201.9K
NOI $12,111 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.7K
$261.4K – $348.5K
NOI $20,909 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Northeast region
Similar Off Market Nearby
- Woodfern Florist — 501 Chenango St, Binghamton, NY 13901
Frequently Asked Questions
What type of property is this?
Storefront property - An operating laundromat occupies a commercially zoned property with on-site parking.
Where is this storefront property located?
The property is located at 638 Chenango Street Binghamton, NY.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Existing laundromat business; Corner location at Chenango Street and Bromley Avenue; Commercial zoning
