Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    161 Riverside Dr Binghamton, NY 13905-4176

    • Office buildings
    • 2,962 SF
    • 0.01 lot acres
    OFF-MARKET
    Value Estimations
    $240,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5512911
    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.

    Current Use by Public Records

    • Walker Mark A MD F.A.C.S. / Cosmetic Surgeon
    • Dr. Stephen L. Paushter, MD / Internist
    • Nicole Chudacik, PharmD / Pharmacy
    • John D. DiMenna, MD / Internist / Cardiologist
    • Land Ramona / Nursing Agency

    Property Details for 161 Riverside Dr

    Year built
    1985
    Lot size
    0.01 lot acres
    Property size
    2,962 SF
    Property type
    Office buildings
    APN
    030200 160.61-1-1.4
    APU
    3020016061114

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $325,000
      Market price range: $71.4k - $362k

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9351
    Latitude
    42.0918
    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
    $1.00
    $232,599
    $232,600
    -
    $2.00
    $369,204
    $369,206

    Comparable in this City

    • Value Estimation
      $190,000
      31.90 Acres

      897 Uppr Frnt St

      OFFICE BUILDING • 31.90 Acres
      897 Uppr Frnt St, Binghamton, NY 13905
      View Details
    • Value Estimation
      $355,000
      16,680 SF

      339 Frnt St

      OFFICE BUILDING • 16,680 SF
      339 Frnt St, Binghamton, NY 13905-2430
      View Details
    • Value Estimation
      $245,000
      2,660 SF

      161 Riverside Dr, Unit MOI

      PROFESSIONAL BUILDING • 2,660 SF
      161 Riverside Dr, Binghamton, NY 13905-4176
      View Details
    • Value Estimation
      $460,000
      22,470 SF

      19 Adams St

      OFFICE BUILDING • 22,470 SF
      19 Adams St, Binghamton, NY 13905
      View Details
    • Value Estimation
      $230,000
      748 SF

      161st Riverside Dr

      PROFESSIONAL BUILDING • 748 SF
      161st Riverside Dr, Binghamton, NY 13905-4613
      View Details
    • Value Estimation
      $230,000
      1,287 SF

      161st Riverside Dr

      PROFESSIONAL BUILDING • 1,287 SF
      161st Riverside Dr, Binghamton, NY 13905-4613
      View Details

    Similar Nearby for Sale

    • $715,000
      10,472 SF

      Colonial Building with Redevelopment Potential

      10,472 SF building suitable for various uses.
      71 Main St, Binghamton, NY 13905
      View Details
    • $365,000

      Binghamton Office Building Investment

      Turnkey Office Building, High Traffic Area
      46 Riverside Dr, Binghamton, NY 13905
      View Details
    • $3,499,000
      335 SF

      30 Crandall St, Binghamton, NY 13905

      Industrial properties • 335 SF
      30 Crandall St, Binghamton, NY 13905
      View Details
    • $2,600,000
      16,500 SF

      Freestanding Harbor Freight Investment Opportunity

      Single-tenant Harbor Freight in Binghamton, NY with long-term lease.
      1272 Upper Front St, Binghamton, NY 13905
      View Details
    • $999,000
      7,195 SF

      Renovated Multifamily Building in Binghamton

      Fully renovated 12-unit apartment building in Binghamton's First Ward.
      19 Mygatt St, Binghamton, NY 13905
      View Details
    • $475,000
      3,775 SF

      Renovated Multifamily Property in Binghamton

      Stabilized 6-unit building in Binghamton's West Side, ideal for investors.
      325 Main St, Binghamton, NY 13905
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,915 SF

      Former QSR with Drive-Thru

      2,915 sqft former QSR on 0.33 acres with drive-thru.
      237 Main St, Binghamton, NY 13905
      View Details
    • Contact for pricing
      2,484 SF

      Empire Plaza Retail Storefront

      Binghamton, NY: Prime Retail Space Available
      1257 Front St, Binghamton, NY 13905
      View Details
    • $1,000 /Mo

      Remodeled Apartment Near SUNY Broome

      Remodeled 2-bedroom apartment with on-site laundry and parking.
      28 Prescott Rd, Binghamton, NY 13905
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Binghamton

      Retail space available for rent in Binghamton, New York.
      10 Glenwood Ave, Binghamton, NY 13905
      View Details
    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.
    161 Riverside Dr
    Binghamton, NY 13905-4176
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.