Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24 Centenary St Binghamton, NY 13901
    Property profile & analytics

    24 Centenary St Binghamton, NY 13901

    View on Map
    • Commercial real estate
    • 6,878 SF
    • 0.04 lot acres
    Off-Market
    Property ID
    US63-1473246
    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

    • Commercial real estate

    Property Details for 24 Centenary St

    Year built
    1965
    Lot size
    0.04 lot acres
    Property size
    6,878 SF
    Property type
    Commercial real estate

    Description

    This 11-unit apartment building at 24 Centenary St, Binghamton, NY 13901, presents a compelling investment opportunity. Built in 1965, this solid brick structure boasts 6,878 square feet on a 0.04-acre lot, situated in the Downtown Business District. The property features a mix of unit sizes, including one 2-bedroom and ten 1-bedroom apartments, catering to the high demand student housing market. Its prime location, just two buildings from Court Street and near the Koffman Southern Tier Incubator, offers easy access to SUNY bus lines and downtown amenities. The building enjoys a strong rental history with minimal vacancies, resulting in a Net Operating Income (NOI) of $63,786 and a 7.10% cap rate. The asking price is $875,000, translating to $81,727 per unit and $130.71 per square foot. This property offers a rare chance to capitalize on the robust student housing market in a highly desirable downtown Binghamton location. The building's solid construction and consistent occupancy make it an attractive investment with significant potential for future growth.

    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
    -75.9086206
    Latitude
    42.0990852

    Comparable in this City

    • $1,650,000
      7,446 SF

      26-Unit Multifamily Investment Opportunity

      Well-maintained apartment building in Binghamton's Stadium District.
      90 Henry St, Binghamton, NY 13901
      View Details
    • $1,250,000

      Versatile Binghamton Mixed-Use Property

      39,520 SF property with retail, restaurant, and residential potential.
      41 Court St, Binghamton, NY 13901
      View Details
    • $1,689,000

      Downtown Binghamton Student Housing Investment

      Fully leased residential and commercial spaces near Binghamton amenities.
      74 Carroll St, Binghamton, NY 13901
      View Details
    • Contact for pricing
      28,800 SF

      Mixed-Use Building for Sale

      Four-story mixed-use building with student housing and commercial space.
      123 Court St, Binghamton, NY 13901
      View Details
    • $1,650,000

      Downtown Binghamton Redevelopment Portfolio

      Multi-building portfolio in Binghamton's Stadium District, primed for redevelopment.
      100 Henry St, Binghamton, NY 13901
      View Details
    • $456,000

      Fully Occupied 8-Unit Property

      8-unit property near Downtown Binghamton with recent major updates.
      14 Way St, Binghamton, NY 13901
      View Details

    Similar Nearby for Sale

    • $1,650,000
      7,446 SF

      26-Unit Multifamily Investment Opportunity

      Well-maintained apartment building in Binghamton's Stadium District.
      90 Henry St, Binghamton, NY 13901
      View Details
    • $1,250,000

      Versatile Binghamton Mixed-Use Property

      39,520 SF property with retail, restaurant, and residential potential.
      41 Court St, Binghamton, NY 13901
      View Details
    • $1,689,000

      Downtown Binghamton Student Housing Investment

      Fully leased residential and commercial spaces near Binghamton amenities.
      74 Carroll St, Binghamton, NY 13901
      View Details
    • Contact for pricing
      28,800 SF

      Mixed-Use Building for Sale

      Four-story mixed-use building with student housing and commercial space.
      123 Court St, Binghamton, NY 13901
      View Details
    • $1,650,000

      Downtown Binghamton Redevelopment Portfolio

      Multi-building portfolio in Binghamton's Stadium District, primed for redevelopment.
      100 Henry St, Binghamton, NY 13901
      View Details
    • $456,000

      Fully Occupied 8-Unit Property

      8-unit property near Downtown Binghamton with recent major updates.
      14 Way St, Binghamton, NY 13901
      View Details

    Similar Nearby for Lease

    • $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
    • $16 SF/Yr
      85,950 SF

      Historic Mixed-Use Building Available

      Renovated historic building suitable for mixed-use occupancy.
      31 Lewis St, Binghamton, NY 13901
      View Details
    • $10 SF/Yr

      Downtown Binghamton Office Suite

      3,000 SF office suite in Downtown Binghamton.
      45 Chenango St, Binghamton, NY 13901
      View Details
    • Contact for pricing

      Industrial Space with Corporate Office

      104,177 SF industrial space with renovated corporate office.
      11 Beckwith Ave, 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
    • $1,200 /Mo

      Corner Retail Space in Binghamton

      Newly renovated commercial space in Binghamton's Stadium District.
      33 Pine 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.
    24 Centenary St
    Binghamton, NY 13901
    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

    Thank You for Inquiry
    24 Centenary St, Binghamton, NY, 13901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!