325 Clinton St Binghamton, NY 13905-2017
- Investment properties
- 6,960 SF
- 0.79 lot acres
Current Use by Public Records
- Western Union / Money Transfer Service
- Dollar General / Grocery Store / Dollar Store
Property Details for 325 Clinton St
- Year built
- 1970
- Lot size
- 0.79 lot acres
- Property size
- 6,960 SF
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 030200 143.76-1-25.1
- APU
- 30200143761251
Description
This exceptional investment opportunity presents a freestanding Dollar General store located at 325 Clinton St, Binghamton, NY 13905. The 6,960 square foot building sits on a 0.79-acre lot and boasts a strong 11.15% cap rate, generating a net operating income (NOI) of $44,064. Built in 1970, this property benefits from a corporate-guaranteed, triple-net (NNN) lease with Dollar General, an essential retailer with an investment-grade credit rating ("BBB" with S&P) and a positive/stable outlook. The current lease, with a remaining term of three years, includes a three-year option period, demonstrating the tenant's long-term commitment to this location. The tenant has operated at this site for 21 years, extending their lease two years early in 2022. This property is strategically positioned in a densely populated area, with over 15,000 residents within a one-mile radius and over 72,000 within a three-mile radius, further enhanced by the proximity to Binghamton University (a 10-minute commute from approximately 18,000 students) and a daytime employee population exceeding 72,000 within a three-mile radius. The asking price is $395,000, translating to a price per square foot of $56.75. This is a resilient, recession-resistant investment, anchored by a Fortune 500 company.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $310,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $285,000
- 6.5%
- $265,000
- 7%
- $295,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $320,000
- Geo Method
- $295,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $260,000
- Retail
- $265,000
- Mixed-Use
- $300,000
- Hospitality
- $245,000
- Educational
- $265,000
- Residential Income
- $325,000
- Energy
- $260,000
- Income-Based Land
- $275,000
- Food Service
- $320,000
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9373
- Latitude
- 42.11
- CBSA code
- 13780
- CBSA name
- BINGHAMTON, NY METROPOLITAN STATISTICAL AREA
