You're browsing as guest. Top-line numbers are free. Full reports — owner contacts, refine, methodology — are paid. Guest mode. Top-line is free.
Back to Search
Property profile & analytics
FOR SALE
Office buildings

1040 Vestal Pkwy East Vestal, NY 13850

10,880 SF 0.46 ac lot Built 1965
Individually Owned 20-yr Hold ~ Est. High Equity
Property ID
US63-1351319
Property summary
AI-generated overview

This exceptional commercial property, located at 1040 Vestal Parkway East in Vestal, NY, presents a unique investment opportunity. Priced at $1,099,000, this office building boasts unparalleled visibility and accessibility, situated less than a mile from the NY State Route 26 and I-86 interchange, providing easy access to I-86, I-81, and I-88. The property benefits from daily traffic counts exceeding 26,000 vehicles, ensuring maximum exposure for any business. The building features high-end modern finishes throughout, including a sophisticated heating and air conditioning system (four units), three-phase electric service (four meters), and six restrooms. Ample parking is available, with over 40 spaces spread across two properties, including a lot across the street at 109 Brady Avenue, which is included in the sale. The first floor offers floor-to-ceiling windows, ideal for retail space, maximizing street-level visibility. The second floor, constructed with reinforced steel and concrete, is capable of supporting heavy equipment, making it suitable for various uses, such as a full-size gym. A convenient elevated loading dock at the rear of the building caters to box trucks. The property's proximity to Binghamton University (eight minutes away) and the Binghamton MSA (fifteen-minute drive) further enhances its appeal. To sweeten the deal, the current owner is offering a leaseback option for the second floor at $12 per square foot, generating an annual income exceeding $65,000. This presents a compelling opportunity for both immediate income and long-term growth potential.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1965
Total area 10,880 SF
Lot 0.46 ac (20,038 SF)
Zoning code C-1
APN 034800 157.16-1-4
UPID US63-1351319
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • eni (Employee Network Inc.) Insurance Agency
  • Kim Hannah Family Counselor
  • Vestal Counseling Solutions: Fasset Sasha Foster Care Service Social Service Agency
  • Vestal Counseling Solutions: Talcot Karen Foster Care Service Social Service Agency
  • Vestal Counseling Solutions: Komatinsky Paul Family Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$335k
CAP Approach CAP
by Request
Comparable Approach Comparable
$420k
Blend (final) Blend
$530k
Owner & transaction history
Gene Raymondi · 20 yrs held
Gene Raymondi
since 2006
1 recorded transaction
2006
$351,250
Zoning & alternative use
C-1 · Vestal, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

d. I Allowable as an accessory use. P Allowable as a use permitted by right. T Allowable upon obtaining a special permit from the town board. Z Allowable upon obtaining a special permit from the zoning board of appeals. C-1 C-2 CD I ID Abattoir or animal reductio works - - - T - Accessory use or building customarily incidental to a primary use when located o…

Zone name General Shopping
General category CIVIC_INSTITUTIONAL
Zone area 267.29 ac
Source code of ordinances
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message