71 State StBinghamton, NY 13901

Property Details for 71 State St

Year built

1975

Lot size

0.20 AC

Property size (Sq ft)

13,200 SF

Property type

Office buildings

APN

030200 160.49-1-6

APU

302001604916

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $2,037,420

  6.5%

  $1,880,695

  7%

  $1,746,360

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,012,170

  Geo Method

  $1,724,712

• Alternative Use

  Use

  Valuation

  Residential

  $2,332,062

  Hospitality

  $2,136,156

  Educational

  $1,777,257

  Medical

  $1,838,380

  Retail

  $2,764,622

Location Insight

City

Binghamton

County

Broome

State

New York

Latitude

42.0974

Longitude

-75.9129

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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