Two-Building Mixed-Use
For Sale
$298,500
299.5 Clinton Street, Binghamton, NY 13905
Four residential units and one commercial space create a blended occupancy profile along Clinton Street.
Property Size2,852 SF
Days on Market160
Property Features for 299.5 Clinton Street
General Information
Standard status
Active
Size
2,852 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
4
Building Details
Building Size
2,852 SF
Buildings
2
Listing Agency:
SVN Innovative Commercial Advisors
Listed By:
Scott Warren, CCIM, CIREC · License #NY #10491212432
(607) 621-0439
Source:
Svn
Added: May 14
Changed: Oct 10
Last Checked: Oct 19 at 5:39AM
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 SVN Innovative Commercial Advisors
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Investment Insights
Based on property information with market context.
This mixed-use property comprises two buildings configured with four residential units and one commercial space. The existing layout combines residential and commercial tenancy, while pre-approval is in place for an additional one-bedroom unit.
The property is located at 299 Clinton Street in Binghamton, NY, two blocks from the Glenwood Avenue interchange. Clinton Street carries approximately 9,500 vehicles per day, providing access to a high-traffic corridor. The combination of current residential and commercial occupancy, along with the approved additional unit, supports multiple income sources within the existing configuration.
The property is located at 299 Clinton Street in Binghamton, NY, two blocks from the Glenwood Avenue interchange. Clinton Street carries approximately 9,500 vehicles per day, providing access to a high-traffic corridor. The combination of current residential and commercial occupancy, along with the approved additional unit, supports multiple income sources within the existing configuration.
Key Highlights
- Two‑building mixed‑use property with 4 residential units and 1 commercial space
- Pre‑approval in place for an additional one‑bedroom unit
- Approximately 9,500 vehicles per day on Clinton Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,760
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,200
$475.2K
Cap Rate 7%
$339,429
$339.4K
Cap Rate 9%
$264,000
$264.0K
Market Conditions
NOI Build-Up for 2,852 SF
Gross rent
$46.2K $16.20/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$43.2K $15.15/SF
− OpEx
−$19.4K −$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 Rate 5%
$475,200
Cap Rate 7%
$339,429
Cap Rate 9%
$264,000
Alternative Uses
Best Use
Mixed Use
$393.7K
$344.5K – $459.4K
NOI $27,561 @ 7.0% cap · market cap 9.23%
Second Best
Apartment 5plus
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 7.96%
Theoretical Best
Office A
$707.6K
$619.1K – $825.5K
NOI $49,529 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 13905, NY
27,672
Population
13,774
Households
2
Avg Household Size
36
Median Age
37%
College-Educated
91%
High-School Grad
28.2 sq mi
ZIP Area
981
Density / Sq Mi
$53,757
Median Household Income
$30,359
Median Earnings
$993
Median Rent
$137,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential units and one commercial space create a blended occupancy profile along Clinton Street.
Where is this mixed-use property located?
The property is located at 299.5 Clinton Street Binghamton, NY.
What is the asking price?
The asking price for this property is $298,500.
What are key features of this property?
This property features: Two‑building mixed‑use property with 4 residential units and 1 commercial space; Pre‑approval in place for an additional one‑bedroom unit; Approximately 9,500 vehicles per day on Clinton Street
