1130 Upper Front St - Medical FOR SALE


Binghamton, NY 13905
$2,550,000 USD
646-303-9613
1130 Upper Front St, Binghamton, NY for Sale
$2,550,000 USD
Medical - FOR SALE
1/7
null | 7.75% Cap Rate

1130 Upper Front St
Binghamton, NY 13905


HIGHLIGHTS

  • PASSIVE LEASES | The net lease structure on the three properties provides for passive income with limited responsibilities
  • NO EARLY TERMINATION OR KICK-OUT CLAUSE |The three properties have no early termination or kick-out clauses during the initial lease term or options
  • LEADING OPERATOR | Velocity Clinical Research is a global leader in the clinical research industry, offering innovative solutions
  • GROWING INDUSTRY | The global clinical trials market was valued at $83.75 billion in 2024 and is projected to grow to $149.58 billion by 2034
  • ANNUAL RENT GROWTH | The three leases feature annual rent escalations of 2%, ensuring steady rental income growth over the lease term

OVERVIEW

Available as a Portfolio or Individually SAB Capital is pleased to present a prime investment opportunity: the fee-simple acquisition of three single-tenant R&D/Lab facilities operated and guaranteed by Velocity Clinical Research. These properties, available individually or as a portfolio, offer stable, long-term cash flow with minimal landlord responsibilities. The offering includes three strategically located facilities: Savannah, GA – 6,880 SF on 0.14 acres Binghamton, NY – 9,984 SF on 1.48 acres Norfolk, NE – 11,008 SF on 2.48 acres Each property is ideally positioned along key regional thoroughfares, ensuring accessibility and high traffic. The Tenant, Velocity Clinical Research, is a global leader in clinical trials, providing innovative solutions for pharmaceutical and biotech companies. With a network of 90+ sites and 220+ investigators across the U.S. and Europe, Velocity is one of the most rapidly growing research organizations in the industry. The company ranked #543 on the 2023 Inc. 5000 list, demonstrating its exceptional growth trajectory. This portfolio represents a rare opportunity to acquire stabilized, net-leased assets in a high-demand industry with strong fundamentals. Investors seeking secure, long-term cash flow with rental growth will find this an exceptional addition to their portfolio.

FOR SALE DETAILS

PRICE

$2,550,000 USD

PRICE/SF

$186 USD /SF

CAP RATE

7.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Velocity Clinical Research

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

41

LAND DETAILS

LAND ACRES

1.48 AC

LAND SF

64,469 SF

ZONING

C

APN/PARCEL ID

032400-128-008-0001-014-000-0000

ASK ABOUT THIS PROPERTY

Asher WenigSAB CapitalMore Info
646-303-9613

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Asher WenigSAB CapitalMore Info
646-303-9613

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.