Binghamton, NY - Guthrie Medical Clinic

Description:

SRS Real Estate Partners is pleased to offer the fee simple interest (land & building ownership) in Guthrie Primary Care located in Binghamton, New York. The tenant has maintained long historical occupancy, having extended the lease and expanded the facility multiple times. They recently executed a brand-new 10.5-year lease renewal, further demonstrating strong long-term commitment to the site. The lease features annual 2.50% rental increases, driving consistent NOI growth and providing a hedge against inflation. 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.

The property is strategically positioned near the interchange of Interstates 81, 86, and 88 (50,900+ VPD, 62,900+ VPD, and 11,600+ VPD respectively) with excellent visibility along Robinson St (3,800+ VPD) and a large monument sign. The asset is directly across from Calvin Coolidge Elementary School (312 students), minutes from East Middle School (463 students), approximately five miles from Binghamton University (18,400+ students), and 3.5 miles from Guthrie Hospital. Located in a residential pocket with 8,500+ nearby residents and blocks from Good Shepherd Fairview Home, a large assisted living facility, the site draws from a steady consumer base. The 5-mile trade area is home to more than 95,500 residents and 72,700 employees with an average household income of $78,085, providing a strong foundation for continued tenant success.

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Listing ID: a288X0000065GRXQA2