Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    221 Washington St Binghamton, NY 13901-2714

    • Office buildings
    • 27,014 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2021
    $6,200,000
    Value Estimations
    $5,645,000
    Show details
    Cap Rate Potential
    7.1%
    Office buildings
    Location Intelligence
    Property ID
    US63-3158454
    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

    • Lofts @221 / Student Housing Center
    • Total Freight Solutions / Trucking Company

    Property Details for 221 Washington St

    Year built
    1970
    Lot size
    0.18 lot acres
    Property size
    27,014 SF
    Property type
    Office buildings
    APN
    030200 160.33-1-16
    APU
    3020016033116

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,235,000
      ML approach
      $4,840,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,235,000
      6.5%
      $5,755,000
      7%
      $5,345,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.913
    Latitude
    42.1011
    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
    $22,800
    $612,200
    $635,000
    -
    $36,190
    $971,747
    $1,007,937

    Comparable in this City

    • Value Estimation
      $1,285,000
      12,444 SF

      99 Hawley St

      OFFICE BUILDING • 12,444 SF
      99 Hawley St, Binghamton, NY 13901-3942
      View Details
    • Value Estimation
      $1,395,000
      6,920 SF

      469 State St

      OFFICE BUILDING • 6,920 SF
      469 State St, Binghamton, NY 13901
      View Details
    • Value Estimation by Request
      4,512 SF

      78 Ct St

      OFFICE BUILDING • 4,512 SF
      78 Ct St, Binghamton, NY 13901-3301
      View Details
    • Value Estimation
      $2,330,000
      21,985 SF

      78 Exchange St

      OFFICE BUILDING • 21,985 SF
      78 Exchange St, Binghamton, NY 13901-3405
      View Details
    • Value Estimation by Request
      2,260 SF

      5 Woodland Rd

      PROFESSIONAL BUILDING • 2,260 SF
      5 Woodland Rd, Binghamton, NY 13901
      View Details
    • Value Estimation
      $1,550,000
      15,648 SF

      184 Ct St

      OFFICE BUILDING • 15,648 SF
      184 Ct St, Binghamton, NY 13901-3515
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,313 SF

      Downtown Binghamton Office Space

      Functional office space in downtown Binghamton, suitable for various businesses.
      136 Court St, Binghamton, NY 13901
      View Details
    • Contact for pricing

      Prime Binghamton Office Space

      Downtown Binghamton office, stunning city views.
      59 Floo, Binghamton, NY 13901
      View Details
    • $925,000
      4,058 SF

      Mixed-Use Property in Historic District

      Three-story mixed-use property with office space and residential rentals.
      136 Court St, Binghamton, NY 13901
      View Details
    • $1,305,000

      Binghamton Office Building Investment

      High-Yield Medical Office Building, NNN Leases
      91 Chenango Bridge Rd, Binghamton, NY 13901
      View Details
    • $1,995,000

      Downtown Binghamton Office Building

      Historic Charm, Modern Utility, Prime Location
      95 Court St, Binghamton, NY 13901
      View Details
    • Contact for pricing
      12,362 SF

      Binghamton Warehouse with Office Space

      14,476 SF building with warehouse and office space for sale.
      29 Alice St, Binghamton, NY 13901
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      151,051 SF

      Premium Office Suites in Binghamton

      Class A office spaces in downtown Binghamton with free parking.
      2 Hawley St, Binghamton, NY 13901
      View Details
    • $20 SF/Yr
      1,384 SF

      Office Space in Binghamton, NY

      1384 square feet of office space available for lease.
      105 Court St, Binghamton, NY 13901
      View Details
    • $12 SF/Yr
      80,000 SF

      Downtown Binghamton Office Space

      Prime Binghamton location, flexible lease terms.
      59-61 Court St, Binghamton, NY 13901
      View Details
    • Contact for pricing
      104,177 SF

      Industrial Space Near I-81/I-86

      104,177 SF industrial space for lease with renovated office.
      11 Beckwith Ave, Binghamton, NY 13901
      View Details
    • Contact for pricing
      244,353 SF

      Binghamton Industrial Space Available

      Large industrial space, flexible lease terms.
      11 Beckwith Ave, Binghamton, NY 13901
      View Details
    • Contact for pricing
      8,500 SF

      Industrial Property with Truck Docks

      Industrial property featuring cross docks and truck/trailer parking.
      30 Phelps St, Binghamton, NY 13901
      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.
    221 Washington St
    Binghamton, NY 13901-2714
    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.
    Sign Up Successful!
    You now have access to more from Realmo!