278 Robinson St - Medical FOR SALE


Binghamton, NY 13904- Eastside Binghamton
$4,545,000 USD
929-229-2614
278 Robinson St, Binghamton, NY for Sale
$4,545,000 USD
Medical - FOR SALE
1/8
null | 6.65% Cap Rate

278 Robinson St
Binghamton, NY 13904
Eastside Binghamton


HIGHLIGHTS

  • Brand New 10.5-Year Lease Renewal | Long Historical Occupancy | Annual 2.50% Rental Increases | Capital Improvements
  • Local Middle and Elementary Schools | Direct Consumer Base |Binghamton University (18,400+ Students) | Guthrie Hospital
  • Strong Demographics in Trade Area
  • Interstates 81, 86, & 88 | Excellent Visibility | Large Monument Sign
  • Good Shepherd Fairview Home (Assisted Living Facility)

OVERVIEW

• The tenant recently executed a 10.5-year lease renewal, demonstrating their commitment to the site • The lease features annual 2.50% rental increases, growing NOI and hedging against inflation • Long historical occupancy with Lourdes/Guthrie extending the lease and expanding the facility multiple times in addition to their most recent extension • Guarantee from Lourdes Memorial Hospital, a top tier regional health system in upstate NY • Recent capital improvements include full parking lot resurfacing, with additional planned improvements such as LED lighting installation in the parking lot, perimeter fencing upgrades, upgraded landscaping, and replacement of two rooftop HVAC units, all scheduled for completion prior to closing

FOR SALE DETAILS

PRICE

$4,545,000 USD

PRICE/SF

$299 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lourdes Memorial Hospital

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,094 SF

ZONING

C-1

APN/PARCEL ID

030200-145-079-0002-001-000-0000

ASK ABOUT THIS PROPERTY

Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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Britt RaymondSRS Real Estate PartnersMore Info
929-229-2614

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