206 State St
- Fully renovated mixed-use complex in the heart of Downtown Binghamton.
- Fully leased through 2028, providing income visibility and reduced near-term leasing exposure.
- 18 off-street parking spaces—a significant competitive advantage downtown.
- 34 residential bedrooms plus commercial rental space, providing complementary income streams.
- $397,320 in scheduled annual rental income for 2026–2027.
- Signed leases increase annual rental income to $429,000 for 2027–2028—a $31,680 increase, or approximately 7.97%.
- Prime State Street / Artists Row location, near restaurants, cafés, galleries and entertainment.
- Convenient access to Binghamton University’s Downtown Center and university transportation.
- Established downtown student housing market, with approximately 1,300 beds across major downtown communities.
Property Description
206–218 State Street offers a fully renovated, fully leased mixed-use investment in the heart of Downtown Binghamton, featuring 34 residential bedrooms, commercial rental space and 18 off-street parking spaces. With leases secured through 2028, the complex combines established income, contractual rental growth and completed capital improvements. Scheduled annual rental income totals $397,320 for 2026–2027 and increases to $429,000 for 2027–2028—a $31,680, or approximately 7.97%, increase supported by signed leases. The combination of residential and commercial rents provides complementary income streams and visibility into future revenue. Positioned along State Street’s Artists Row, the property places occupants near downtown restaurants, cafés, galleries, entertainment and university transportation. The surrounding downtown market includes approximately 1,300 beds across major student housing communities, reinforcing its established student presence. Eighteen off-street parking spaces distinguish the complex within this urban setting, enhancing convenience and leasing appeal. Fully renovated condition, lease coverage through 2028 and dedicated downtown parking make this an attractive opportunity to acquire an improved income-producing asset with contracted rental growth.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| No. of Units: | 2 |
| Year Built: | 1970 |
| Lot Size: | 0.27 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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