Downtown Value-Add Opportunity | ±41,000 SF with Significant Upside | Near Gateway Redevelopment

Highlights:

• Auditorium: Includes a massive main seating area with a full stage, capable of holding up to 1,100 people.
• Educational Wing: Features 20 classrooms, which makes it prime for conversion into residential units, offices, or a charter school
• Commercial Kitchen: A full-service setup is already in place, adding value for event space or hospitality use
• Architecture: The building maintains its historical character with lead-glass windows, ornate staircases, and period-correct light fixtures
• Downtown Binghamton: Location with access to SUNY Binghamton, major employment, civic, and neighborhood amenities. Supported by multiple municipal parking garages and on-street parking within a 1–3 minute walk

Description:

Explore the full listing, documents, and bidding details here: https://rimarketplace.com/auction/3177/office/binghamton/ny

255 Washington Street is a ±41,000 SF property located in downtown Binghamton, currently occupied by City Church and featuring a large auditorium, classrooms, and a commercial kitchen. The property benefits from flexible C-2 commercial zoning, supporting a wide range of institutional, educational, assembly, and adaptive reuse scenarios.

Strategically positioned, the asset is within close proximity to Double Tree Hotel, Mirabito Stadium, Visions Arena and the Gateway Center (363 Gateway project) located at the State Street bridge crossing over the Susquehanna River, reinforcing strong connectivity between downtown Binghamton and the Vestal corridor / SUNY Binghamton. Binghamton serves as a regional hub for the Southern Tier, with connectivity to Interstate 81, Interstate 86/Route 17, and Route 11 supporting access throughout Upstate New York and into Pennsylvania. The combination of a prominent urban location, sizable existing improvements, and functional interior buildout makes this asset relevant to both private buyers and institutional groups seeking a well-located special-purpose property.

Offered at auction, the property presents a compelling value-add opportunity supported by strong accessibility, nearby municipal parking, and multiple pathways to stabilization and long-term upside.