157 Robinson St - Retail FOR SALE


Binghamton, NY 13904- Eastside Binghamton
$3,422,222 USD
781-776-4006
157 Robinson St, Binghamton, NY for Sale
$3,422,222 USD
Retail - FOR SALE
1/7
null | 6.75% Cap Rate

157 Robinson St
Binghamton, NY 13904
Eastside Binghamton


HIGHLIGHTS

  • Long-Term Lease
  • Scheduled Rent Increases
  • Investment Grade Credit
  • Minimal Landlord Responsibilities
  • Strategic Location
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee-simple investment property located at 157-163 Robinson Street in Binghamton, New York (the “Property”). The Property, constructed in 2006, is leased to CVS and consists of a 10,125 square foot building with a dedicated drive through lane. CVS recently extended their lease, demonstrating their commitment to the site and the market. CVS has 9+ years remaining on their lease with five (5), five-year renewal options. CVS is positioned at the signalized intersection of Robinson Street and Broad Avenue and offers outstanding access to US Route 11 and NY Route 363/7, two of the area’s primary corridors connecting Binghamton with Johnson City, Vestal, and other communities throughout the Greater Binghamton area. The location provides convenient access to the region’s broader transportation network, with Interstate 81 and NY Route 17/Interstate 86 serving as the principal regional arteries and connecting Binghamton with Syracuse, Scranton, and the Southern Tier. The surrounding area is supported by a broad base of employment and institutional demand, including United Health Services, Binghamton University, SUNY Broome, Lockheed Martin, BAE Systems, Lourdes, and Broome County government. CVS benefits from the strong relationship between retail pharmacy demand and the area's healthcare and institutional infrastructure. UHS Binghamton General Hospital is nearby and provides 220 beds along with emergency, surgical, rehabilitative, and specialty medical services, while UHS Wilson Medical Center in Johnson City provides a broad range of additional medical services. In addition, Binghamton University's significant student population and economic footprint contribute to recurring demand for convenient retail and healthcare services throughout the region.

FOR SALE DETAILS

PRICE

$3,422,222 USD

PRICE/SF

$338 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,996 SF

ZONING

-

APN/PARCEL ID

030200 145.77-2-8

ASK ABOUT THIS PROPERTY

Matthew NadlerHorvath & TremblayMore Info
781-776-4006

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Matthew NadlerHorvath & TremblayMore Info
781-776-4006

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