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    16 Grand Blvd Binghamton, NY 13905-3490
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    Property profile & analytics

    16 Grand Blvd, Binghamton, NY 13905-3490

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    • Investment properties
    • 3,216 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Aug 12, 2024
    $201,000
    Property ID
    US63-6050414
    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

    • Tsai Horng MD / Physician

    Property Details for 16 Grand Blvd

    Year built
    1970
    Lot size
    0.23 lot acres
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    030200 159.28-2-25
    APU
    3020015928225

    Description

    This exceptional 1600-square-foot commercial office space is available for lease in a prime West Side Binghamton location at 16 Grand Blvd, zip code 13905. The property is situated in Broome County, New York, offering convenient access to the city's amenities and transportation networks. This single-tenant space is highly versatile, suitable for a variety of office uses. Its adaptable layout makes it ideal for traditional office settings, executive suites, medical practices, creative agencies, or even co-working spaces. The building offers ample space to accommodate a growing business or a well-established firm seeking a new location. The property's address is 16 Grand Blvd, Binghamton, NY 13905. Its geographic coordinates are latitude 42.1051903 and longitude -75.9366846. This presents a unique opportunity for businesses seeking a well-located, adaptable, and spacious office environment in a thriving area of Binghamton. The property type is classified as an office building, and the tenancy is single-occupancy. Serious inquiries are encouraged to explore this promising commercial real estate opportunity. Further details regarding lease terms and conditions are available upon request. Don't miss out on this chance to secure a prominent location for your business in Binghamton's dynamic West Side.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9366
    Latitude
    42.1053
    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
    $20,600
    $85,700
    $106,300
    -
    $32,698
    $136,032
    $168,730

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    • $275,000

      two bathrooms

      office (appx 10x14) and two walk in cold storage units all housed within the Diner Car & addition that sits on a 1\/4 acre lot on Main Street. Basement. Large parking lot. Currently has an ansul system in the diner counter area. Property use code is 422- Diners and Luncheonettes-usually year-round facilities with counter service and limited seating. No owner financing. Sale is for real property. Are you thinking of starting a restaurant in the Triple Cities? Do you have another idea for this space? Bring your ideas and vision and let's talk about making the Sterling Streamliner at 151 Main Street yours.""""}"""
      151 Main St, Binghamton, NY 13905
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    Similar Nearby for Lease

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      1,600 SF

      Retail Space in Binghamton

      Retail space available for rent in Binghamton, New York.
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    Binghamton, NY 13905-3490
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    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
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    16 Grand Blvd, Binghamton, NY, 13905
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