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213 Chenango St Assemblage

$2,999,990

213 Chenango Street, Binghamton, NY 13901

Active
Last Updated: 07/10/2023

9.1

Cap Rate

269,384

NOI

Details:
Cap Rate:    9.1%
NOI:    $269,384
Building Size:    33,338 sqft
Lot Area:    0.64 acres
Units:    50
Occupancy:    97%
Year Built:    1890
Zoning:    Commercial
Floors:    4
Description:

Offered for sale is this spectacular new construction student housing complex in Binghamton, NY. This 33,338 SF facility has been completely remodeled with very high end finishes. This complex is a Historical Rail Terminal District Building. Windows were replaced with specialty windows made of Brazilian Mahogany, The complex has steel I Beams throughout. There are 15 new air conditioning and furnace units approximately 3 years old. The roof is a rubber membrane approximately 3 years old. There are security cameras throughout. The building is also fully sprinklered with a fire alarm system. There is on demand hot water for the entire complex. This has a fenced in parking lot. The complex has a very large media/party room, a full fitness center and shared laundry. All furnishings come with the sale. This complex also has a completely built out Lounge and Restaurant ready to lease and approximately 5,000 Commercial shop, 2,500 of which has 19' High ceilings. This also has value add opportunity there are approved blueprints for 4 additional beds and a buyer can build an additional 4 beds on the lower level. 


Downtown Binghamton is home to approximately 1,300 Student Beds. This is an excellent location. At the foot of the Chenango Street Bridge. Walking distance to all of Downtown Binghamton's Restaurants, Shops, Nightclubs and amenities. 


46 Student Beds.
All new construction with high end finishes.
One bath for every 2 beds. 
14 Beds with private bathrooms.
Several Commercial Kitchens.
15 HVAC Units approximately 3 years old.
Rubber Membrane roof approximately 3 years old.
Fitness center.
Media/Party room.
Completely built out Restaurant and Lounge Space.
5,000 SF Shop space, 2,500 of which has 19' Ceilings. 
Outdoor patio.
Security cameras.
Fenced parking.
Excellent location

Map:
Documents:
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Chenango 213 pro forma
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213 Chenango OM
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