601 Gates RdVestal, NY 13850

Property Details for 601 Gates Rd

Year built

1980

Lot size

7.41 AC

Property size (Sq ft)

52,579 SF

Zone code

C-1

Property type

Office properties

Property subtype

Other data centers and call centers

APN

034800 158.08-1-4

APU

348001580814

Description

This exceptional 52,579-square-foot Class A office building, situated in a tranquil Vestal neighborhood, presents a remarkable leasing opportunity. Conveniently located near Old Vestal Road, Olums Plaza, and Town Square Mall, this property offers unparalleled accessibility. The building boasts a secure environment with ample parking and strong neighboring tenants. Currently, a 1,500-square-foot suite (Suite 7) is available for lease. This space includes convenient features such as running water and a secure reception area, along with six individual offices, ideal for a variety of business needs. The building itself is meticulously maintained and offers a professional atmosphere. The lease rate of $16 per square foot is inclusive of utilities and CAM charges, making this a truly exceptional value proposition. The property sits on a 7.41-acre lot and is zoned for commercial use within the Binghamton Retail submarket of Broome County, New York. This is a rare chance to secure high-quality office space in a desirable location at a competitive price. The multiple tenancy structure ensures a vibrant and collaborative environment. Don't miss this chance to establish your business in this thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $8,115,568

  6.5%

  $7,491,294

  7%

  $6,956,202

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,031,733

  Geo Method

  $6,869,972

• Alternative Use

  Use

  Valuation

  Residential

  $9,289,205

  Hospitality

  $8,508,862

  Educational

  $7,079,273

  Medical

  $7,322,740

  Retail

  $11,012,202

Location Insight

City

Vestal

County

Broome

State

New York

Latitude

42.1045

Longitude

-75.9863

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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