38 Pennsylvania Ave Binghamton, NY 13903-1610
- Auto shops
- 3,936 SF
- 0.49 lot acres
Jun 25, 2025
Current Use by Public Records
- AutoZone Auto Parts / Car Battery Store / Tool Rental Service
Property Details for 38 Pennsylvania Ave
- Year built
- 1999
- Lot size
- 0.49 lot acres
- Property size
- 3,936 SF
- Property type
- Auto shops
- APN
- 030200 160.72-4-11
- APU
- 3020016072411
Description
This exceptional investment opportunity presents a 4,000 square foot AutoZone retail property located at 38 Pennsylvania Ave, Binghamton, NY 13903. The property sits on a 0.49-acre lot and features a single-story building constructed in 1999. Currently operating under a triple-net (NNN) ground lease with AutoZone Corporation, the lease boasts a remaining term of 5.2 years, with two, five-year renewal options, extending to January 31, 2030. The property enjoys a 100% occupancy rate, generating a net operating income (NOI) of $42,000 and a 5.09% cap rate. The asking price is $825,000, translating to $206.25 per square foot. This investment benefits from the strength and stability of AutoZone, a nationally recognized brand with over 6,100 locations. The property's strategic location less than one mile from downtown Binghamton, across from UHS Binghamton General Hospital, and within a dense retail area (1.4 million square feet within a one-mile radius) ensures high visibility and strong customer traffic. The surrounding area boasts a substantial population of over 97,000 full-time residents within a five-mile radius. This is a rare opportunity to acquire a well-performing, low-maintenance, and recession-resistant investment property with a strong corporate tenant.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9168
- Latitude
- 42.0877
- CBSA code
- 13780
- CBSA name
- BINGHAMTON, NY METROPOLITAN STATISTICAL AREA
