860 Vestal Rd - Health Care FOR SALE


Vestal, NY 13850
$1,599,000 USD
607-621-0439
860 Vestal Rd, Vestal, NY for Sale
$1,599,000 USD
Health Care - FOR SALE
1/25
null | Request Cap Rate

860 Vestal Rd
Vestal, NY 13850


HIGHLIGHTS

  • Projected NOI: $2.42M (post-renovation)
  • Estimated Market Value: $40.4M (post-renovation)
  • High-Yield Metrics: 151.65% cap rate | 10.10% Year 1 CoC return (post-renovation)
  • Low cost basis: $12,492 per unit | $18/SF
  • Strong Market: Household incomes 44% above Broome County average
  • Visible Location: Seen from Route 26 Bridge with 15-min access to entire Binghamton MSA

OVERVIEW

With approved plans for a 128-unit 55+ community, this project includes the expansion of the existing 86,867 SF structure to a total of approximately 135,597 SF. The 5.06-acre parcel offers over 530 feet of road frontage on Old Vestal Road and exceptional connectivity—just minutes from I-86, State Route 434, and State Route 26. Strategically positioned in a high-income area where household incomes exceed the Broome County average by 44%, the site supports strong demand for quality senior housing. At a proposed sale price of $1,599,000 and an estimated stabilized market value (post-renovation) exceeding $40 million, this opportunity offers immediate equity, favorable pricing, and a compelling 18-month development timeline. Household incomes in Vestal exceed the Broome County average by 44%, and family incomes are 35% higher, underscoring the area’s strong market potential. The project offers immediate equity at the asking price, with an estimated end market value of $40,415,416 and a projected completion timeline of 18 months. Location Description An Ideal location for many types of housing. This is visible from the Route 26 Bridge from Vestal to Endicott. On the Vestal side. Fast and easy access to the I86, I81 and State Route 434 interchanges. This location is a 15 minute drive time to the entire Binghamton MSA.

FOR SALE DETAILS

PRICE

$1,599,000 USD

PRICE/SF

$18 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Health Care

ADD'L SUBTYPES

Assisted Living, Rehabilitation Center

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

207

LAND DETAILS

LAND ACRES

5.06 AC

LAND SF

220,414 SF

ZONING

RC

APN/PARCEL ID

034800-157-058-0002-006-000-0000

ASK ABOUT THIS PROPERTY

Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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