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    29 Court St Binghamton, NY 13901

    Sponsored
    For Sale
    $1,325,000

    Binghamton, NY: 5-unit apartment building. High occupancy.

    Property size:
    15,356 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fully occupied, five-unit apartment building located at 29-31 Court Street in Binghamton, New York. The property, boasting 15,356 square feet, is situated in the heart of Binghamton's vibrant Downtown Business District, a prime location known for its high walkability score of 90 and proximity to approximately 1,300 student beds. The building's strategic position, just steps from Water Street, benefits from a daily traffic count of 5,391 vehicles, ensuring high visibility and accessibility. Built in 1910, this charming building features a mix of ground-floor retail space and upper-level apartments, catering to the strong rental demand in this sought-after student housing area. The property's current 100% occupancy rate generates a substantial net operating income (NOI) of $103,702.63, resulting in an attractive 7.83% cap rate. The asking price is $1,325,000, or $265,000 per unit. The building features updated electrical and plumbing systems, a secure entry system, and renovated units and common areas, offering modern amenities while retaining its historic charm. The property is zoned for Downtown Business District use, providing flexibility for future development or expansion. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a thriving urban environment.

    Property Features for 29 Court St

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,356 SF
    Class
    C

    Building Details

    Year Built
    1910
    Units
    5

    HighLights

    • 15,356 SF building with 5 units.
    • Downtown Business District zoning.
    • Binghamton student housing location.
    • 100% occupancy rate.
    • Historic building with charming architecture.
    • Modern amenities and renovated units/common areas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9142105
    Latitude
    42.0989446

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    FAQs

    What type of property is this?
    Multifamily property - Binghamton, NY: 5-unit apartment building. High occupancy.
    Where is this multifamily property located?
    The property is located at 29 Court St Binghamton, NY.
    What is the asking price?
    The asking price for this property is $1,325,000.
    What are key features of this property?
    This property features: 15,356 SF building with 5 units.; Downtown Business District zoning.; Binghamton student housing location.
    Request Owner's contact information
    29 Court St Binghamton, NY 13901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    29 Court St Binghamton, NY 13901
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