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    68 Main St Binghamton, NY 13905-2915

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    68 Main St Binghamton, NY 13905-2915

    View on Map
    • Community centers
    • 10,880 SF
    • 0.78 lot acres
    Off-Market
    Property ID
    US63-1684654
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar General / Discount Store
    • Thuy-Linh Vo / Pharmacy
    • Stephen Koerts / Pharmacy
    • Ashley Heil / Pharmacy
    • Jennifer Kolesar / Pharmacy

    Property Details for 68 Main St

    Year built
    1970
    Lot size
    0.78 lot acres
    Property size
    10,880 SF
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    030200 160.39-2-7
    APU
    302001603927

    Description

    This exceptional investment opportunity presents a 10,818 square foot Dollar General convenience store located at 68 Main St, Binghamton, NY 13905. The property sits on a 0.78-acre lot and boasts a brand new 10-year Double Net (NN) lease commencing October 2024, minimizing landlord responsibilities. The lease includes four, 5-year renewal options with a 10% rental increase in each. Built in 1970 and extensively renovated in 2024, the single-story building features a new roof with a transferable 25-year warranty. The property benefits from excellent visibility along Main Street, a large parking lot, and a pylon sign. The asking price is $1,549,300, representing a price per square foot of $143.22 and an 8.00% cap rate. The property is currently 100% occupied by Dollar General, an investment-grade tenant with a S&P credit rating of 'BBB', providing a strong corporate guarantee. This is a turnkey investment with significant long-term potential. The property's location in Broome County offers easy access to major transportation routes and a thriving local market. This is a rare opportunity to acquire a high-performing retail asset with a secure, long-term lease and substantial upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Binghamton
    County
    Broome
    State
    New York
    Longitude
    -75.9218
    Latitude
    42.1
    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
    $108,900
    $241,100
    $350,000
    -
    $172,857
    $382,699
    $555,556

    Comparable in this City

    • Value Estimation
      $1,420,000
      43,835 SF

      285 Main St

      SHOPPING CENTER, STRIP CENTER • 43,835 SF
      285 Main St, Binghamton, NY 13905
      View Details
    • Value Estimation by Request
      10,750 SF

      1235 Uppr Frnt St

      SHOPPING CENTER, STRIP CENTER • 10,750 SF
      1235 Uppr Frnt St, Binghamton, NY 13905-1168
      View Details
    • Value Estimation by Request
      10,901 SF

      1139 Uppr Frnt St

      SHOPPING CENTER, STRIP CENTER • 10,901 SF
      1139 Uppr Frnt St, Binghamton, NY 13905-1131
      View Details
    • Value Estimation by Request
      15,000 SF

      1247 Uppr Frnt St

      SHOPPING CENTER, STRIP CENTER • 15,000 SF
      1247 Uppr Frnt St, Binghamton, NY 13905-1100
      View Details
    • Value Estimation
      $540,000
      42,846 SF

      277 Frnt St

      SHOPPING CENTER, STRIP CENTER • 42,846 SF
      277 Frnt St, Binghamton, NY 13905-2428
      View Details
    • Value Estimation by Request
      2,484 SF

      1257 Front St

      Individual retail properties • 2,484 SF
      1257 Front St, Binghamton, NY 13905
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Dollar General Binghamton Investment Property

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      Paved Parking Area For Sale

      Over half acre paved parking area with highway access.
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      Multifamily Property for Sale

      Multifamily property with 2012 square feet available for purchase.
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      Stabilized Student Housing Asset

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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Front Street

      2,484 SF retail space available for lease.
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      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Binghamton

      Retail space available for rent in Binghamton, New York.
      10 Glenwood Ave, Binghamton, NY 13905
      View Details
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    68 Main St
    Binghamton, NY 13905-2915
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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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