30 State St Binghamton, NY 13901-2357

Property Details for 30 State St

Year built

1970

Lot size

0.80 lot acres

Property size

27,216 SF

Property type

Office buildings

APN

030200 144.74-1-17

APU

3020014474117

Description

This auction presents a compelling opportunity to acquire a four-building office portfolio totaling approximately 66,385 net rentable square feet situated on a 3.4-acre lot in Binghamton, New York. The property, constructed in 1970, features two-story buildings and is currently 49% occupied, generating a net operating income (NOI) of $144,551. The property is classified as Class B with a modified lease type and multi-tenancy. Located at 30 W State St and encompassing additional addresses, the property benefits from high visibility and convenient access, situated near a major intersection with significant daily traffic volume. The property's zoning is commercial, offering flexibility for future development or repositioning. The current occupancy date is November 1, 2024. The asking price is $250,000, presenting a value-add opportunity to increase in-place rents and capitalize on vacancy absorption. The strong demographics of Binghamton, including a large university population and a high average household income within a five-mile radius, further enhance the investment potential. This fee-simple ownership opportunity is ideal for investors seeking a strong cash flow and significant upside potential. The property's location offers excellent visibility and ample surface parking. The auction is scheduled for December 9-11, 2024.

Location Insight

City

Binghamton

County

Broome

State

New York

Longitude

-75.9049

Latitude

42.1089

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments