For Sale
$675,000

163 Washington StBinghamton, NY 13901

Prime Location, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property at 163 Washington Street in Binghamton, NY, presents a compelling investment opportunity. Boasting 8,250 square feet, the building features a ground-floor restaurant space currently available for lease at $4,000 per month (plus utilities and internal maintenance), offering immediate income potential. The restaurant area also includes two additional rooms and a full bathroom, suitable for office use. Upstairs, a luxurious 4-bedroom, 2-bathroom loft apartment generates consistent rental income, currently leased at $3,200 per month through May 2025 ($800 per room). The building benefits from a strong rental history, attracting both student and corporate tenants. Recent renovations include new flooring and paint throughout, ensuring a turnkey experience for the new owner. Conveniently located in the Washington Street Courtyard, the property offers easy access to public transportation and numerous local businesses. Two off-street parking spaces are included. Separate heating systems (new in 2018) for each floor and on-demand water heaters enhance efficiency. The asking price is $675,000, representing a compelling 5.20% cap rate with a current NOI of $35,100. This property is an ideal blend of income-generating assets and prime downtown location.

Highlights

  • $675,000 asking price for this 8,250 square foot mixed-use building in Binghamton, NY.
  • 5.20% cap rate with a $35,100 NOI.
  • Located at 163 Washington Street, Binghamton, NY 13901.
  • Features a restaurant space (available for $4,000/month lease), a 4-bedroom, 2-bathroom luxury loft apartment (rented through May 2025 at $3,200/month), and additional office space.
  • Includes two parking spaces.

Property Details for 163 Washington St

Property type
Retail properties, Restaurants
Square Feet
8,250 SF

Location Insight

City
Binghamton
County
Broome
State
New York
Latitude
42.0993403
Longitude
-75.9136277
163 Washington St, Binghamton, New York

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163 Washington St
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