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    325 Main St Binghamton, NY 13905

    For Sale
    $469,000

    Six-unit apartment building, high ROI.

    Property size:
    3,775 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional six-unit apartment building, located at 325 Main St, Binghamton, NY 13905, presents a compelling investment opportunity. Boasting 3,775 square feet on a 6,716 square foot lot, this Class B property offers a strong net operating income (NOI) of $38,059, translating to an attractive 7.61% capitalization rate. Built in 1965, the building presents potential for future updates and renovations. Its prime location in Binghamton's West Side offers excellent visibility and accessibility, with a daily traffic count of 7,484 vehicles and a walkability score of 80. The property is situated just across from 327 Main Street and one block from the Johnson City Arch, providing convenient access to the Price Chopper Plaza and numerous shops and amenities. Zoned for commercial use and approved for student housing, this recently renovated and stabilized property is ideally positioned to capitalize on the area's demand. The asking price is $469,000. This is a turnkey investment ready for a new owner. Don't miss this chance to add a high-performing asset to your portfolio.

    Property Features for 325 Main St

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,775 SF
    Class
    B

    Building Details

    Year Built
    1965
    Units
    6

    HighLights

    • $469,000 asking price for this six‑unit apartment building.
    • 3,775 square foot building on a 6,716 square foot lot.
    • 7.61% cap rate with a $38,059 Net Operating Income (NOI).
    • Built in 1965, offering value‑add potential.
    • Centrally located in Binghamton, NY, zoned commercial and suitable for student housing.
    Property Profile Insight Report 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
    -75.9433982
    Latitude
    42.1101945

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit apartment building, high ROI.
    Where is this multifamily property located?
    The property is located at 325 Main St Binghamton, NY.
    What is the asking price?
    The asking price for this property is $469,000.
    What are key features of this property?
    This property features: $469,000 asking price for this six-unit apartment building.; 3,775 square foot building on a 6,716 square foot lot.; 7.61% cap rate with a $38,059 Net Operating Income (NOI).
    Request Owner's contact information
    325 Main St Binghamton, NY 13905
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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
    325 Main St Binghamton, NY 13905
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