98 Main St Binghamton, NY 13905-2812
- Office buildings
- 6,144 SF
- 0.26 lot acres
Current Use by Public Records
- Monaco Associates llc / Construction Company
Property Details for 98 Main St
- Year built
- 1975
- Lot size
- 0.26 lot acres
- Property size
- 6,144 SF
- Property type
- Office buildings
- APN
- 030200 160.30-3-27
- APU
- 3020016030327
Description
This mixed-use property at 98 Main St, Binghamton, NY 13905, offers a compelling investment opportunity. The 6,144 square foot building, constructed in 1975, boasts a full brick exterior with large glass windows and a unique architectural design. Its prime location offers convenient access to Binghamton University, with proximity to the Binghamton University Blue Bus Line, the Nursing and Pharmaceutical Schools (two miles), and the main campus (five miles). Downtown Binghamton is just half a mile away. The property includes a private parking lot, a significant asset in this area. The building's layout allows for flexible use, with potential for a multi-unit residential configuration, potentially including a 4-5 bedroom unit on the first floor and a 6-7 bedroom unit on the second floor. A substantial basement, potentially offering 4,000-5,000 square feet of usable space, presents additional development possibilities. The asking price is $379,000, translating to $61.69 per square foot. This property is ideal for investors seeking a high-return opportunity in a vibrant and growing area. The building's strong construction and desirable location make it a sound investment with significant upside potential. The property is zoned for mixed-use, allowing for a variety of potential uses and income streams. The large windows provide ample natural light, enhancing the appeal to potential tenants.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $255,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $275,000
- 6.5%
- $250,000
- 7%
- $270,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $285,000
- Geo Method
- $240,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $260,000
- Retail
- $275,000
- Mixed-Use
- $200,000
- Hospitality
- $240,000
- Educational
- $215,000
- Residential Income
- $255,000
- Energy
- $240,000
- Income-Based Land
- $220,000
- Food Service
- $250,000
Location Insight
- Map
- Local Demand
- City
- Binghamton
- County
- Broome
- State
- New York
- Longitude
- -75.9252
- Latitude
- 42.1009
- CBSA code
- 13780
- CBSA name
- BINGHAMTON, NY METROPOLITAN STATISTICAL AREA
