30 State St Binghamton, NY 13901-2357

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.