224-226 Main St East Maine, NY 13790

Property Details for 224-226 Main St

Year built

1960

Lot size

0.29 lot acres

Property size

15,120 SF

Property type

Retail properties

Property subtype

Retail space

Description

This fee-simple investment opportunity presents a 15,120 square-foot, two-story storefront at 224-226 Main Street in Johnson City, New York (zip code 13790). The property, built in 1960 and situated on a 0.29-acre lot, boasts 100% occupancy with a single tenant, Sami Liquidation Corp., under a net-net lease. The lease commenced January 1, 2024, and expires December 31, 2028, with a remaining term of 4.1 years and one 5-year renewal option. Annual rent bumps of 5% are included. The property generates a $60,000 net operating income (NOI), resulting in an 8.00% capitalization rate. The asking price is $750,000. This strategically located property benefits from high visibility at a signalized intersection of Main Street (NY Route 17C) and Willow Street, near UHS Wilson Medical Center and Binghamton University (3 miles). Its proximity to Interstate 86 (1 mile), downtown Binghamton (2 miles), Interstate 81 and US Highway 11 (3 miles) ensures excellent accessibility. The area features strong demographics, with over 66,600 people within a 3-mile radius and an average household income exceeding $83,026. Daily traffic on Main Street averages over 11,300 vehicles. The property is surrounded by numerous national retailers and shopping centers, creating a robust retail environment. An adjacent parking lot at 17 Willow Street is also included. The building, previously occupied by Dollar General, offers versatility for a single tenant or potential division into multiple suites. A basement is present but not included in the 15,120 square foot building size.

Location Insight

City

East Maine

County

Broome

State

New York

Longitude

-76.0044

Latitude

42.1883