11 Walnut Street
$299,000
11 Walnut St, Binghamton, NY 13905
2,044 sqft
Building Size
0.0748 acres
Lot Area
Details:
Highlights:
- Zoned R-3
- 100% occupancy
- Stabilized student housing asset
- Core location on West Side
- Proximity to downtown amenities
- Established transportation routes
- Leases secured at $700 per bed Unit 1 and $590/Bed Unit 2
- 9.83% capitalization rate
- Proven location with established rental demand
Description:
Offered for sale is this Student Housing building in the heart of Binghamton's West Side. This is in R-3 Zoning and South of Main Street. Leases for next Semester are at $700/Bed and $590/Bed yielding a 9.83% CAP Rate based on current expense ratios. This is a tremendous opportunity to own this high yielding Student Housing assets in one of the most desirable corridors for Student Housing in Binghamton.
The property is located within the City of Binghamton’s R-3 zoning district, the primary zoning classification supporting higher density residential use and student housing. This designation provides a clear regulatory framework for continued student occupancy and aligns the asset with the City’s established housing pattern.
Positioned south of Main Street, the property sits within one of the most desirable student corridors, an area consistently favored due to proximity and accessibility. The location offers convenient walking access to downtown amenities including restaurants, retail, and entertainment.
The property is also within walking distance to established student bus routes serving Binghamton University, providing reliable transportation connectivity without reliance on personal vehicles.
From a market perspective, this location supports sustained student demand, strong leasing velocity, and long term positioning within the City’s core residential and mixed use environment.
Documents:
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Location
Gallery
