Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1179 Vestal Ave Binghamton, NY 13903
    Back to Search
    Property profile & analytics

    1179 Vestal Ave, Binghamton, NY 13903

    View on Map
    • Investment properties
    • 8,500 SF
    • 0.49 lot acres
    For Sale
    $975,000
    View Listing →
    Binghamton Retail Investment Opportunity For Sale
    $975,000
    8,500 SF

    Binghamton Retail Investment Opportunity

    Retail space near Binghamton General Hospital with long-term tenant.

    1179 Vestal Ave, Binghamton, NY
    View Listing
    Property ID
    US63-1313230
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • the medicine shoppe pharmacy / Pharmacy

    Property Details for 1179 Vestal Ave

    Year built
    1975
    Lot size
    0.49 lot acres
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    030200 160.72-2-8
    APU
    302001607228

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 12, 2012 — Benza Rita K Trust Benza,rita K Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,370,000
      6.5%
      $1,265,000
      7%
      $1,175,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,147,000
      Market price range: $247k - $1.15M
      AI Estimate
      $1,119,000
      Market price range: $302k - $1.12M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $760,000
      Current use
      OFFICE BUILDING
      $905,000
      Change: +19% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9146
    Latitude
    42.0893
    CBSA code
    13780
    CBSA name
    BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $62,300
    $300,200
    $362,500
    -
    $98,889
    $476,508
    $575,397

    Comparable in this City

    • Value Estimation by Request
      2,400 SF

      72 Tompkins St

      STORE/OFFICE (MIXED USE)
      72 Tompkins St, Binghamton, NY 13903-2217
      View Details
    • Value Estimation by Request
      7,920 SF

      876 Conklin Rd

      STORE/OFFICE (MIXED USE)
      876 Conklin Rd, Binghamton, NY 13903-2827
      View Details
    • Value Estimation by Request
      2,980 SF

      46 Hall St

      STORE/OFFICE (MIXED USE)
      46 Hall St, Binghamton, NY 13903-2114
      View Details
    • Value Estimation by Request
      0.98 Acres

      688 Conklin Rd

      STORE/OFFICE (MIXED USE)
      688 Conklin Rd, Binghamton, NY 13903-2743
      View Details
    • Value Estimation by Request
      1,440 SF

      1184 Vestal Ave

      STORE/OFFICE (MIXED USE)
      1184 Vestal Ave, Binghamton, NY 13903-1612
      View Details
    • Value Estimation by Request
      6,080 SF

      642 Conklin Rd

      STORE/OFFICE (MIXED USE)
      642 Conklin Rd, Binghamton, NY 13903-2743
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,064 SF

      Riverfront Retail Investment Opportunity

      Multi-tenant retail property with long-term tenants in Vestal, New York.
      4777 Vestal Pkwy E, Vestal, NY 13903
      View Details
    • Contact for pricing
      4,000 SF

      AutoZone Binghamton NNN Ground Lease

      AutoZone in Binghamton, NY with zero landlord responsibilities.
      38 Pennsylvania Ave, Binghamton, NY 13903
      View Details
    • Contact for pricing
      0.13 Acres

      Binghamton Southside Land For Sale

      Land available in Binghamton Southside, close to amenities.
      30 2Nd St, Binghamton, NY 13903
      View Details
    • Contact for pricing

      Downtown Multifamily Asset on Court

      Multifamily property in downtown Binghamton with diversified unit configurations.
      40 Court St, Binghamton, NY 13903
      View Details
    • Contact for pricing
      8,500 SF

      Binghamton Retail Investment Opportunity

      Retail space near Binghamton General Hospital with long-term tenant.
      1179 Vestal Ave, Binghamton, NY 13903
      View Details
    • New
      $205,000
      1,656 SF

      Duplex with Two Three-Bedroom Units

      Well-maintained duplex featuring two 3-bedroom units with separate utilities, off-street parking, and basement laundry hookups.
      330 Conklin Ave, Binghamton, NY 13903
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1179 Vestal Ave
    Binghamton, NY 13903
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1179 Vestal Ave, Binghamton, NY, 13903
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!