162 Court St - Dormitory FOR SALE


Binghamton, NY 13901- Center City
$3,625,000 USD
646-723-4011
162 Court St, Binghamton, NY for Sale
$3,625,000 USD
Dormitory - FOR SALE
1/6
null | 9% Cap Rate

162 Court St
Binghamton, NY 13901
Center City


HIGHLIGHTS

  • Located in Downtown Binghamton, servicing Bingham University.
  • 56 beds across 10 units with multiple unit sizes allowing for flexibility in renting to individual groups.
  • Consistent demand from student groups looking for larger format units.

OVERVIEW

Lee & Associates is pleased to present exclusively for sale the student housing asset located at 162 Court Street, Binghamton, NY 13901 (the “Property”). Located on the corner of Court Street and Carroll Street in the heart of Downtown Binghamton, the Property features 10 units consisting of 56 total beds. With recent capital programs completed in the building coupled with a 19% increase in undergraduate applications in 2023, the Property is poised to see outsized returns in a flourishing student rental market that continues to grow year-over-year. The Property will provide an investor with consistency and growth through residential cashflow with the opportunity to add value by leasing the approximately 2,700 feet of retail, or converting the space to self-storage. Located in Downtown Binghamton, servicing Binghamton University, New York’s #1 Value Public University named by U.S. News & World Report 56 beds across 10 units with multiple unit sizes allows for flexibility in renting to individuals or groups Consistent demand from student groups look

FOR SALE DETAILS

PRICE

$3,625,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

10

PRICE/UNIT

$362,500

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Student Housing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1980

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

C1

APN/PARCEL ID

030200-160-042-0001-013-000-0000

ASK ABOUT THIS PROPERTY

Sean SlatteryLee & AssociatesMore Info
646-723-4011

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Sean SlatteryLee & AssociatesMore Info
646-723-4011

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