163 Washington St Binghamton, NY 13901-2758

Property Details for 163 Washington St

Year built

1965

Lot size

0.07 lot acres

Property size

8,280 SF

Property type

Investment properties

Property subtype

Live-work space

APN

030200 160.40-2-9

APU

302001604029

Description

This exceptional mixed-use property at 163 Washington Street in Binghamton, NY, presents a compelling investment opportunity. Boasting 8,250 square feet, the building features a ground-floor restaurant space currently available for lease at $4,000 per month (plus utilities and internal maintenance), offering immediate income potential. The restaurant area also includes two additional rooms and a full bathroom, suitable for office use. Upstairs, a luxurious 4-bedroom, 2-bathroom loft apartment generates consistent rental income, currently leased at $3,200 per month through May 2025 ($800 per room). The building benefits from a strong rental history, attracting both student and corporate tenants. Recent renovations include new flooring and paint throughout, ensuring a turnkey experience for the new owner. Conveniently located in the Washington Street Courtyard, the property offers easy access to public transportation and numerous local businesses. Two off-street parking spaces are included. Separate heating systems (new in 2018) for each floor and on-demand water heaters enhance efficiency. The asking price is $675,000, representing a compelling 5.20% cap rate with a current NOI of $35,100. This property is an ideal blend of income-generating assets and prime downtown location.

Location Insight

City

Binghamton

County

Broome

State

New York

Longitude

-75.9136

Latitude

42.0994

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments