The vacant structure at the corner of Brown Street and Glenwood Ave was consumed by fire yesterday.
The blaze was first reported at around 9:15 in the morning and fire crews remained on site until after 5 p.m.
The city's corporation counsel is expected to send a demolition letter to the property's owner, Jim Spear who owns the nearby Spear's Auto Sales.
The Binghamton Fire Marshal has ruled yesterday's fire as intentional and has referred it to the Binghamton Police for an arson investigation.
The Marshal says neighbors have reported seeing people coming and going from the building in the past although no one was witnessed in or near the building yesterday morning.
It is the fifth fire reported at the property, although the previous ones, including one on March 10th, were far less destructive.
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