Mixed-Use Triplex with
For Sale
$269,888
654 Chenango Street, Dickinson, NY 13901
Three occupied units combine salon and residential apartment space with separate utilities.
Property Size3,916 SF
Price / SF$94.37
Days on Market12
Property Features for 654 Chenango Street
General Information
Standard status
Active
Size
3,916 SF
Property subtype
Mixed Use
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$31,440
Taxes and HOA fees
Annual Taxes
$4,367
Amenities
full basement
detached 2-car garage
updated windows
new bathroom siding
gas forced-air furnace
mini-splits
municipal sewer and public water
low-maintenance carpet and vinyl flooring
large windows
Building Details
Building Size
3,916 SF
Year Built
1960
Buildings
1
Listing Agency:
Lombardo Homes & Estates
(855) 919-0222
Listed By:
Joseph V. Lombardo · License #10311204851
(855) 919-0222
Source:
Griffith-realty
Added: Jul 27
Changed: Aug 5
Last Checked: Aug 7 at 1:17AM
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 Lombardo Homes & Estates
Investment Insights
Based on property information with market context.
This 1960-built mixed-use property contains 2,860 square feet across three occupied units. The first-floor front suite is an approximately 460-square-foot beauty salon with updated electrical service, a mini-split system, half-bath, washer/dryer, and kitchenette. Behind it is an approximately 690-square-foot one-bedroom apartment with a full bath, kitchen, and living room. The upper residence includes 1,246 square feet across the main and attic levels, with three bedrooms, a full bath, kitchen, dining room, and living room.
The building has separate utilities for each unit, updated windows, new bathroom siding, a full basement for storage and utilities, and a gas forced-air furnace serving the residential spaces. The salon uses mini-split heating and cooling. A large detached 2-car garage and additional off-street parking serve the property. Municipal sewer and public water are in place, with access to highways, shopping, dining, downtown Binghamton, and the Chenango Valley Central School District.
The building has separate utilities for each unit, updated windows, new bathroom siding, a full basement for storage and utilities, and a gas forced-air furnace serving the residential spaces. The salon uses mini-split heating and cooling. A large detached 2-car garage and additional off-street parking serve the property. Municipal sewer and public water are in place, with access to highways, shopping, dining, downtown Binghamton, and the Chenango Valley Central School District.
Key Highlights
- 2,860 SF mixed‑use triplex built in 1960
- Three occupied units: beauty salon, 1‑bedroom apartment, and 3‑bedroom apartment
- Approximately 1,246 SF upper apartment includes 966 SF main level and 280 SF attic
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
$23,826
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
8.83%
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%
$476,520
$476.5K
Cap Rate 7%
$340,371
$340.4K
Cap Rate 9%
$264,733
$264.7K
Market Conditions
NOI Build-Up for 2,860 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
$46.3K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.3K $15.15/SF
− OpEx
−$19.5K −$6.82/SF
NOI
$23.8K $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%
$476,520
Cap Rate 7%
$340,371
Cap Rate 9%
$264,733
Alternative Uses
Best Use
Retail
$411.0K
$359.6K – $479.5K
NOI $28,769 @ 7.0% cap · market cap 10.66%
Second Best
Mixed Use
$394.8K
$345.5K – $460.6K
NOI $27,638 @ 7.0% cap · market cap 10.24%
Theoretical Best
Office A
$709.5K
$620.9K – $827.8K
NOI $49,668 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
180
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three occupied units combine salon and residential apartment space with separate utilities.
Where is this mixed-use property located?
The property is located at 654 Chenango Street Dickinson, NY.
What is the asking price?
The asking price for this property is $269,888.
What are key features of this property?
This property features: 2,860 SF mixed‑use triplex built in 1960; Three occupied units: beauty salon, 1‑bedroom apartment, and 3‑bedroom apartment; Approximately 1,246 SF upper apartment includes 966 SF main level and 280 SF attic
