327 Main St Binghamton, NY 13905
- Commercial real estate
- 7,904 SF
- 0.28 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 327 Main St
- Year built
- 1965
- Lot size
- 0.28 lot acres
- Property size
- 7,904 SF
- Property type
- Commercial real estate
Description
This exceptional 10-unit apartment building, located at 327 Main Street in Binghamton, NY, presents a compelling investment opportunity. Boasting 7,904 square feet on a 0.28-acre lot, this solid brick structure was built in 1965 and benefits from a prime location directly on Main Street. The property's strategic position offers easy access to SUNY Binghamton and public transportation bus lines, making it highly attractive to students and commuters. The building's zoning allows for student housing, further enhancing its potential. The unit mix includes six 2-bedroom units and four 1-bedroom units. Recent renovations and upgrades have been completed, contributing to the property's strong condition. The building enjoys a solid rent roll, with tenants responsible for utilities. This property offers a 9.50% cap rate and a net operating income (NOI) of $89,093, with an asking price of $938,000. This is a rare opportunity to acquire a well-maintained, high-performing multifamily property in a desirable location. Note that this property can be purchased in conjunction with 325 Main Street.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9437158
- Latitude
- 42.1102719
