206-218 State Street

206–218 State Street occupies a central position in Downtown Binghamton’s established student housing and arts district. The surrounding downtown market includes approximately 1,300 beds across major student housing communities, creating a concentrated residential base that supports neighborhood restaurants, retail and services. Situated along State Street’s Artists Row, the property offers convenient access to galleries, cafés, dining and entertainment, with Binghamton University’s Downtown Center and university bus connections nearby. This walkable setting appeals to students seeking an urban living experience with access to the University’s main campus in Vestal. For investors, the location combines an established student rental market with the commercial benefits of downtown activity, supporting both the property’s residential leasing appeal and its street-level commercial space.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.