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Bank

Chemung Canal Trust Company

127 Court St, Binghamton, NY 13901

Listing Price: $929,000

Cap Rate
6.25%
Tenant Name
Chemung Canal Trust Company
Years Remaining On Lease
9.0
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$265.43
Lease Type
Double Net
Rent Per Square Feet
$17.88

Investment Overview

Marcus & Millichap is pleased to present a 3,500-square foot, single-tenant Chemung Canal Trust Company bank located in the Binghamton section of Broome County in New York. The lease has nine and one-half years remaining on its term, with two, five-year renewal options. The rent escalates every five years at a rate of seven and one-half percent throughout the base and option periods. The lease is backed by a corporate guarantee from Chemung Canal Trust Company, a $2.35 billion financial services holding company with 30 locations. Chemung Canal Trust Company is a full-service community bank with full trust powers that has been in business since 1833. The property sits on 0.12 Acres of land.

Investment Highlights

  • Approximately 10 Years Remaining on an Extended NN Lease, With Two, Five-Year Options
  • Strong Traffic Counts of Over 8,000 Vehicles Per Day Along Court Street
  • 3,500-Square Foot, Single-Tenant Chemung Canal Trust Company - Commercial Bank with Full Trust Powers Located in Binghamton, New York

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

Listing Price: $929,000

Cap Rate
6.25%
Tenant Name
Chemung Canal Trust Company
Years Remaining On Lease
9.0
Gross SF
3,500
Guarantor
Corporate Guarantee
Rentable SF
3,500
Price/Gross SF
$265.43
Lease Type
Double Net
Rent Per Square Feet
$17.88

Investment Highlights

  • Approximately 10 Years Remaining on an Extended NN Lease, With Two, Five-Year Options
  • Strong Traffic Counts of Over 8,000 Vehicles Per Day Along Court Street
  • 3,500-Square Foot, Single-Tenant Chemung Canal Trust Company - Commercial Bank with Full Trust Powers Located in Binghamton, New York

Investment Overview

Marcus & Millichap is pleased to present a 3,500-square foot, single-tenant Chemung Canal Trust Company bank located in the Binghamton section of Broome County in New York. The lease has nine and one-half years remaining on its term, with two, five-year renewal options. The rent escalates every five years at a rate of seven and one-half percent throughout the base and option periods. The lease is backed by a corporate guarantee from Chemung Canal Trust Company, a $2.35 billion financial services holding company with 30 locations. Chemung Canal Trust Company is a full-service community bank with full trust powers that has been in business since 1833. The property sits on 0.12 Acres of land.

Exclusively Listed By

  • Joseph French Jr.

    Licensed Associate Real Estate Broker

    (914) 220-9740

    Email Joseph

    License(s): PA: AB067393, NY: 10301207036, MA: 138295, CT: REB.0239741, NJ: 9210310

    Westchester

  • Kodi Traver

    Licensed Real Estate Salesperson

    (914) 220-9758

    Email Kodi

    License(s): NY: 10401335618

    Westchester

Financing By

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