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33 Pine St 8,094 SF 100% Leased Retail Building Binghamton, NY 13901 $905,000 ($111.81/SF)
INVESTMENT HIGHLIGHTS
- 3 Income Sources. Main Building has 13 Beds, a 4 Bedroom Home leased to students and Commercial Space.
- 13 Beds leased for 5 years with 5% increases.
- Stable income with Growth potential.
- 100% Leased.
- Tenants pay all expenses except Insurance and Taxes.
EXECUTIVE SUMMARY
This is a rare offering in the rapidly developing stadium district. One block from Mirabito stadium. 33 Pine is 13 Beds and has a permit from the City for congruent living. All beds have been leased for 5 years starting at $450/Bed with 5% annual increases. This comes with a parking lot connected to 31.5 Pine. 31.5 Pine is a leased 4 Bedroom home. 33 Pine is all newly renovated. The tenant pays all expenses except Insurance and Taxes. The Commercial space has a new 3 year lease at $1,000/M. This investment offers a high return, ease of management and long term stability and a low vacancy. Ability to bundle in 41.5 Fayette for a package deal.
Ideally situated in the rapidly developing Binghamton Stadium district. This complex is one block from Mirabito stadium. This has a very walkable score of 79 and is walking distance to public and Student transportation.
Ideally situated in the rapidly developing Binghamton Stadium district. This complex is one block from Mirabito stadium. This has a very walkable score of 79 and is walking distance to public and Student transportation.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,094 SF
Building Class
C
Year Built
1970
Price
$905,000
Price Per SF
$111.81
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.83
Lot Size
0.22 AC
Parking
15 Spaces (1.85 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Edwin Lachman
- -
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Edwin Lachman | - | - | - | - |
Walk Score®
Very Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 030200-160-034-0001-019-000-0000 | Improvements Assessment | $14,350 |
| Land Assessment | $25,650 | Total Assessment | $40,000 |
PROPERTY TAXES
Parcel Number
030200-160-034-0001-019-000-0000
Land Assessment
$25,650
Improvements Assessment
$14,350
Total Assessment
$40,000
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33 Pine St
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