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    85 Robinson St Binghamton, NY 13901

    Sponsored
    For Sale
    $3,786,580

    Binghamton, NY Pharmacy - 10+ Years Left

    Property size:
    14,673 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 14,673-square-foot Walgreens pharmacy in Binghamton, NY, boasting a 7.75% cap rate and over 10 years remaining on a corporate-guaranteed net-net lease. The property, built in 2015, sits on a generous 1.36-acre lot at a signalized intersection, offering excellent visibility and accessibility. The lease, commencing March 31, 2020, and expiring March 30, 2035, includes eight 5-year renewal options with built-in rent increases: 5% every 5 years in the initial term, and 10% every 10 years in the first six renewal options, followed by market rate adjustments. The property features 60 parking spaces and is conveniently located across from a Broome County Transit bus stop, providing easy access to downtown Binghamton and the Greater Binghamton Health Center. Its strategic location offers quick access to major roadways, including US-11, NY-7, NY-17, NY-363, I-81, I-86, and I-88. The strong daytime population of 120,058 within a five-mile radius further enhances the investment potential. This single-tenant, single-story building is zoned for large retail outlets (453) and represents a stable, high-performing investment with significant long-term growth potential. The property's strong tenant, favorable lease terms, and prime location make it an attractive addition to any portfolio. The Net Operating Income (NOI) is $293,460. The asking price is $3,786,580, resulting in a price per square foot of $258.06.

    Property Features for 85 Robinson St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,673 SF
    Lot Size
    59,242 SF

    Building Details

    Year Built
    2015
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $3,786,580 asking price for a 14,673 square foot Walgreens.
    • 10.4 years remaining on a corporate‑guaranteed net‑net lease with eight 5‑year renewal options.
    • Rent increases: 5% every 5 years in the initial term; 10% every 10 years in the first six renewals; market rate thereafter.
    • 1.36‑acre lot at a signalized intersection.
    • Excellent access to major roadways (US‑11, NY‑7, NY‑17, NY‑363, I‑81, I‑86, I‑88) and public transportation.
    • High daytime population (120,058) within a five‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor FedEx OnSite Mailing Service Walgreens Pharmacy Pharmacy LibertyX Bitcoin ATM Atm Walgreens Drug Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.89727923
    Latitude
    42.10701482

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    FAQs

    What type of property is this?
    Individual retail property - Binghamton, NY Pharmacy - 10+ Years Left
    Where is this individual retail property located?
    The property is located at 85 Robinson St Binghamton, NY.
    What is the asking price?
    The asking price for this property is $3,786,580.
    What are key features of this property?
    This property features: $3,786,580 asking price for a 14,673 square foot Walgreens.; 10.4 years remaining on a corporate-guaranteed net-net lease with eight 5-year renewal options.; Rent increases: 5% every 5 years in the initial term; 10% every 10 years in the first six renewals; market rate thereafter.
    Request Owner's contact information
    85 Robinson St Binghamton, NY 13901
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    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
    85 Robinson St Binghamton, NY 13901
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