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    2317 Vestal E Pkwy Vestal, NY 13850-1900
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    Property profile & analytics

    2317 Vestal E Pkwy, Vestal, NY 13850-1900

    View on Map
    • Strip malls
    • 93,010 SF
    • 12.32 lot acres
    Off-Market
    Property ID
    US63-5449686
    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
    $1,405,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Shoppes at Vestal / Shopping Center & Mall
    • Michaels / (Bike/Boat/Book/etc) Store
    • UPS Access Point location / Courier Service / Postal Service
    • Famous Footwear / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store
    • HomeGoods / Department Store

    Property Details for 2317 Vestal E Pkwy

    Year built
    2001
    Lot size
    12.32 lot acres
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    034800 158.13-1-37.1
    APU
    34800158131371

    Description

    The Shoppes at Vestal offers a prime retail opportunity in Vestal, New York. This neighborhood center boasts a total of 92,328 square feet, with 8,300 square feet currently available for lease. The available space is a single inline suite, offering flexibility with the possibility of subdivision to accommodate specific tenant needs. The property features ample parking with 502 spaces, ensuring convenient access for customers. Located at 2317 Vestal Parkway East, Vestal, NY 13850, this highly visible location benefits from excellent accessibility via Route 17/86 and Route 201, ensuring high traffic volume and strong visibility. The Shoppes at Vestal enjoys a strong tenant mix, situated near established and popular retailers including Bath & Body Works, Famous Footwear, Kay Jewelers, Michaels, and Old Navy, creating a vibrant and attractive shopping destination. This property presents a unique opportunity for businesses seeking a well-located and established retail space in a thriving community within Broome County. The available space is ideal for a variety of retail uses and offers significant potential for growth and success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,540,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Vestal
    County
    Broome
    State
    New York
    Longitude
    -76.0163
    Latitude
    42.0948
    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
    $2,990,000
    $8,010,000
    $11,000,000
    -
    $2,990,000
    $8,010,000
    $11,000,000

    Comparable in this City

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    • Value Estimation by Request
      19,549 SF

      1708 Vestal E Pkwy

      SHOPPING CENTER, STRIP CENTER
      1708 Vestal E Pkwy, Vestal, NY 13850-1834
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    • Value Estimation by Request
      26,704 SF

      1308 Vestal E Pkwy

      SHOPPING CENTER, STRIP CENTER
      1308 Vestal E Pkwy, Vestal, NY 13850-1821
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    • Value Estimation by Request
      11,000 SF

      229 Vestal E Pkwy

      SHOPPING CENTER, STRIP CENTER
      229 Vestal E Pkwy, Vestal, NY 13850-1629
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    • Value Estimation
      $2,665,000
      203,306 SF

      2505 Vestal E Pkwy

      SHOPPING CENTER, STRIP CENTER
      2505 Vestal E Pkwy, Vestal, NY 13850
      View Details
    • Value Estimation by Request
      24,000 SF

      4700 Vestal E Pkwy

      SHOPPING CENTER, STRIP CENTER
      4700 Vestal E Pkwy, Vestal, NY 13850-3797
      View Details

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      Vestal Office Space Available

      Office property for sale in Vestal, New York.
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      High-Visibility Corner Lot in Vestal

      4.23 acre corner lot zoned C-1 in Vestal, NY.
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    Similar Nearby for Lease

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      6,901 SF

      Retail Space Near SUNY Binghamton

      Retail spaces available near SUNY Binghamton with ample parking.
      3112-3132 Vestal Pkwy E, Vestal, NY 13850
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      3,300 SF

      Retail Space Near SUNY Binghamton

      Retail spaces available near SUNY Binghamton with ample parking.
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      View Details
    • Contact for pricing
      3,000 SF

      Retail Space Near SUNY Binghamton

      Highly visible retail space near SUNY Binghamton available for lease.
      2531 Vestal Pkwy E, Vestal, NY 13850
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      Retail Space in Town Square

      Retail space available in a busy shopping center.
      2405-2441 Vestal Pkwy E, Vestal, NY 13850
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      High-Traffic Shopping Center Space

      Retail space in a busy shopping center near SUNY Binghamton.
      3112-3128 Vestal Pkwy E, Vestal, NY 13850
      View Details
    • Contact for pricing
      3,458 SF

      Retail Space Near SUNY Binghamton

      Highly visible retail space near major retailers and SUNY Binghamton.
      2409-2437 Vestal Pkwy E, Vestal, NY 13850
      View Details
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    Vestal, NY 13850-1900
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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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