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Property profile & analytics
OFF-MARKET
Office buildings
71 State St, Binghamton, NY 13901-3316
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US63-4176127
Property summary
AI-generated overview
This Class A medical office suite, located at 71 State Street in Binghamton, New York, offers 900 square feet of move-in ready space. Part of a larger 19,800 square foot multi-tenant building, this suite is ideal for medical professionals seeking a prime downtown location. The building boasts convenient access to the courthouse and other government buildings, making it an excellent choice for legal or related medical practices. Recent upgrades have enhanced the building's aesthetic appeal and functionality, with additional improvements currently underway. The suite is immediately available and features a gross rent of $12.00 per square foot. Ample parking is readily accessible at a new adjacent ramp and a nearby surface lot. The building includes elevators for convenient access to all floors. While the minimum divisible space is 900 square feet, the maximum contiguous space available is also 900 square feet. This presents a unique opportunity for a medical practice seeking a well-located, modern, and efficiently sized office space in the heart of Binghamton. The zip code is 13901.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
13,200 SF
Lot
0.2 ac (8,712 SF)
APN
030200 160.49-1-6
UPID
US63-4176127
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Shaw O'Brien Crowley Reynolds Law Firm
-
71 State Street Business Service Center Corporate Office
-
Czerenda's Court Reporting Services Law Firm
-
Colliers Engineering & Design Engineering Consultant
-
DiMenna Barbershop Barber Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
71 State Street Partners LLC · 12 yrs held
71 State Street Partners LLC
since 2014
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Binghamton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Binghamton submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$305,000
Assessed 2023
Previous assessed
$305,000
+0.0% YoY
Assessed land
$87,300
Assessed improvement
$217,700
Land market value
$138,571
Improvement market value
$345,556
Total market value
$484,127
Applied tax rate
30,200.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
13,200 SF
Lot
0.2 ac (8,712 SF)
APN
030200 160.49-1-6
UPID
US63-4176127
Jurisdiction
BROOME
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
71 State Street Partners LLC
Entity
Mailing address
613 COUNTY RD 31, SOUTH NEW BERLIN, NY 13843-2220
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 9, 2014
$793,750
71 State Street Partners LLC
71 State Street Ventures LLC
Grant Deed
related
—
Feb 8, 2010
—
71 State Street Ventures LLC
City Of Binghamton
Grant Deed
related
—
Jan 8, 2009
$300,000
71 State Street Ventures LLC
Lgt Realty Associates LLC
Grant Deed
—
Jul 19, 2005
$275,018
Lg & T Realty Assoc LLC
Bache Bldg Mgment
Warranty Deed
—
—
—
71 State Street Ventures LLC
—
Deed Of Trust
related
$150,000 · Visions FCU
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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