For Sale
$365,000

46 Riverside DrBinghamton, NY 13905

Prime location, fully leased, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This Class A, 3,192 square foot executive office building in Binghamton, NY, presents a compelling investment opportunity. Located at 46 Riverside Dr, this property boasts a prime location, enjoying high visibility with an average daily traffic count of 12,560 vehicles. Its proximity to Downtown Binghamton and Confluence Park enhances its appeal. The building is currently 100% occupied, generating a substantial net operating income (NOI) of $34,730, representing a 9.52% cap rate on the asking price of $365,000. Tenants occupy nine individual offices and one apartment, all secured under multi-year leases, ensuring a stable and reliable income stream. The property also includes a valuable three-level garage offering ample storage. Built in 1980, the building sits on a 15,902 square foot lot and features central air conditioning for year-round tenant comfort. This turnkey investment offers immediate cash flow and long-term growth potential in a desirable location. The property consists of 10 units in total.

Highlights

  • Prime Riverside Drive location in Binghamton, NY, near Downtown and Confluence Park; 12,560 ADT.
  • Fully leased 3,192 SF Class A office building with nine offices, an apartment, and a three-level garage.
  • Central air conditioning.
  • Stable income from multi-year leases; 100% occupancy, $34,730 NOI, 9.52% cap rate.

Property Details for 46 Riverside Dr

Property type
Office properties
Square Feet
3,192 SF
Class
A
Year Built
1980
Units
10

Location Insight

City
Binghamton
County
Broome
State
New York
Latitude
42.0926474
Longitude
-75.9245267
46 Riverside Dr, Binghamton, New York

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
46 Riverside Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message