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    Property profile & analytics

    59 Court St Binghamton, NY 13901

    • Office buildings
    • 50,531 SF
    • 0.22 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6267042
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CPL: Architecture – Engineering – Planning / Landscape Architect / Solid Waste Engineer
    • P. Fair Designs / Website Designer / Advertising Agency
    • 1360AM ESPN / Advertising Agency / Internet Marketing Service
    • National Disaster Recovery Technical Assistance Consultants, Inc. / Consultant
    • Liburdi Industires, Inc / Corporate Office

    Property Details for 59 Court St

    Year built
    1980
    Lot size
    0.22 lot acres
    Property size
    50,531 SF
    Property type
    Office buildings
    APN
    030200 160.41-1-5
    APU
    302001604115

    Description

    This exceptional office space, located at 59 Court Street, Unit 202, in the heart of downtown Binghamton, NY, offers unparalleled access to governmental, federal court, and business centers in Broome County. Situated on the second floor, this unit boasts stunning city views from its desirable location. The space is available for lease at a competitive rate of $13.00 per square foot, with a common area maintenance (CAM) charge of $2.50 per square foot. Multiple office spaces and sizes are available, ranging from 875 to 6,000 square feet, allowing for flexibility to accommodate various business needs. Options include private offices within larger suites, entire floors, and shared common areas. The building benefits from exceptional on-site management. Furnishings may be available upon request, subject to availability. Flexible lease terms are offered to suit individual requirements. This is a truly unique opportunity to establish a presence in one of Binghamton's most prestigious business districts. Contact us to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $575,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $869,000
      Market price range: $870k - $2.70M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9127
    Latitude
    42.099
    CBSA code
    13780
    CBSA name
    BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $77,000
    $672,900
    $749,900
    -
    $122,222
    $1,068,095
    $1,190,317

    Comparable in this City

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      $1,390,000
      6,920 SF

      469 State St

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      469 State St, Binghamton, NY 13901
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    • Value Estimation
      $330,000
      12,444 SF

      99 Hawley St

      OFFICE BUILDING • 12,444 SF
      99 Hawley St, Binghamton, NY 13901-3942
      View Details
    • Value Estimation
      $250,000
      238 SF

      32 Old State Rd

      OFFICE BUILDING • 238 SF
      32 Old State Rd, Binghamton, NY 13901
      View Details
    • Value Estimation
      $770,000
      60,330 SF

      2 Ct St

      OFFICE BUILDING • 60,330 SF
      2 Ct St, Binghamton, NY 13901-3137
      View Details
    • Value Estimation
      $350,000
      14,344 SF

      91 Chenango Brg Rd

      PROFESSIONAL BUILDING • 14,344 SF
      91 Chenango Brg Rd, Binghamton, NY 13901-1293
      View Details
    • Value Estimation
      $115,000
      5,200 SF

      21 Commercial Aly

      OFFICE BUILDING • 5,200 SF
      21 Commercial Aly, Binghamton, NY 13901-2903
      View Details

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      Downtown Binghamton Office Space

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    59 Court St
    Binghamton, NY 13901
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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