DAVES POWER EQUIPMENT · DAVES POWER EQUIPMENT 26616 US ROUTE 11, GREAT BEND, PA 18821 SCOTT WARREN...

DAVES POWER EQUIPMENT26616 US ROUTE 11, GREAT BEND, PA 18821

SCOTT [email protected]

Warren Real Estate // 830 Hanshaw Road, Ithaca, NY 14850 // 607.257.0666 // warrenhomes.com

Confidential Offering Memorandum October 04, 2019



PROPERTY INFORMATION 3

LOCATION INFORMATION 8

DEMOGRAPHICS 12

ADVISOR BIOS 14

All materials and information received or derived from Warren Real Estate its directors, officers, agents,advisors, affiliates and/or any third party sources are provided without representation or warranty as tocompleteness , veracity, or accuracy, condition of the property, compliance or lack of compliance withapplicable governmental requirements, developability or suitability, financial performance of the property,projected financial performance of the property for any party’s intended use or any and all other matters.

Neither Warren Real Estate its directors, officers, agents, advisors, or affiliates makes any representationor warranty, express or implied, as to accuracy or completeness of the any materials or informationprovided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence todetermine these and other matters of significance to such party. Warren Real Estate will not investigate orverify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all informationand to conduct their own inspections and investigations including through appropriate third partyindependent professionals selected by such party. All financial data should be verified by the partyincluding by obtaining and reading applicable documents and reports and consulting appropriateindependent professionals. Warren Real Estate makes no warranties and/or representations regarding theveracity, completeness, or relevance of any financial data or assumptions. Warren Real Estate does notserve as a financial advisor to any party regarding any proposed transaction. All data and assumptionsregarding financial performance, including that used for financial modeling purposes, may differ fromactual data or performance. Any estimates of market rents and/or projected rents that may be provided toa party do not necessarily mean that rents can be established at or increased to that level. Parties mustevaluate any applicable contractual and governmental limitations as well as market conditions,vacancyfactors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed bythe party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether theproperty complies with applicable governmental requirements should be discussed by the party withappropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Warren Real Estate in compliance with all applicable fair housingand equal opportunity laws.

TABLE OF CONTENTSDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


CONTENTS CONFIDENTIALITY & DISCLAIMER

1



PROPERTY INFORMATION




OFFERING SUMMARYSale Price: $349,000

Cap Rate: 15.37%

NOI: $53,640

Lot Size: 3.0 Acres

Year Built: 1970

Building Size: 2,500 SF

Renovated: 2010

Zoning: C1 - Commercial

Market: Northeastern PA Retail

Submarket: Binghamton Retail

PROPERTY OVERVIEWOffered for sale is this fully operating and turnkey business. Asking price includesReal Estate, all FFE, Inventory, Customer base and Goodwill. This business hasbeen in business for 20 years, 10 years at it's current location. This business haslimited competition and draws customers from throughout Northeastern PA andBroome County. Includes 3 Acres of land, never flooded, right on Route 11. Manyupgrades and improvements have been made to the property including a parkinglot and addition work bay.

PROPERTY HIGHLIGHTS• Turnkey business + Real Estate.

• 200 Ft Frontage on US Route 11.

• 3 Acres.

• Well established business. 20 years in business.

• Asking price includes real estate, business, inventory, FFE.

• Great potential to expand.

EXECUTIVE SUMMARYDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821




PROPERTY DESCRIPTIONOffered for sale is this fully operating and turnkey business.Asking price includes Real Estate, all FFE, Inventory, Customerbase and Goodwill. This business has been in business for 20years, 10 years at it's current location. This business has limitedcompetition and draws customers from throughout NortheasternPA and Broome County. Includes 3 Acres of land, never flooded,right on Route 11. Many upgrades and improvements have beenmade to the property including a parking lot and addition workbay.

LOCATION DESCRIPTIONThis is an excellent location on a major roadway with easy accessto Route 81. Directly on Route 11 just North of Great Bend. Dailytraffic count of 1,228 cars per day. Access to the Northeastern PAand Binghamton Markets.

PROPERTY DESCRIPTIONDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821




LOCATION INFORMATIONBuilding Name Daves Power EquipmentStreet Address 26616 US Route 11City, State, Zip Great Bend, PA 18821County SusquehannaMarket Northeastern PA RetailSub-market Binghamton RetailSignal Intersection No

BUILDING INFORMATIONNOI $53,640.00Cap Rate 15.37Occupancy % 100.0%Tenancy SingleCeiling Height 12 ftMinimum Ceiling Height 12 ftNumber of Floors 1Average Floor Size 2,500 SFYear Built 1970Year Last Renovated 2010Free Standing No

PROPERTY HIGHLIGHTS• Turnkey business + Real Estate.

• 200 Ft Frontage on US Route 11.

• 3 Acres.

• Well established business. 20 years in business.

• Asking price includes real estate, business, inventory, FFE.

• Great potential to expand.

COMPLETE HIGHLIGHTSDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821




ADDITIONAL PHOTOSDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


2



LOCATION INFORMATION




REGIONAL MAPDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


Great Bend, PA



LOCATION MAPSDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821




AERIAL MAPSDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


3



DEMOGRAPHICS




POPULATION 1 MILE 5 MILES 10 MILESTotal Population 383 8,624 30,479Median age 43.4 43.0 42.7Median age (Male) 41.2 41.8 42.3Median age (Female) 44.1 43.2 42.7

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILESTotal households 151 3,375 11,828# of persons per HH 2.5 2.6 2.6Average HH income $51,047 $55,762 $58,231Average house value $119,151 $119,608* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP & REPORTDAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


4



ADVISOR BIOS




SCOTT [email protected]: 607.621.0439

PROFESSIONAL BACKGROUNDScott began a financial services career in 1986. He has held a variety of Sales and Marketing positionsincluding: Agent, District Manager, Regional Sales Director responsible for 5 States to a CorporateExecutive with Columbian Mutual Life Insurance Company. He then, with his 2 partners, built a NationalMarketing Organization which operated in all 50 States and had over 7,000 Agents.Since he sold his share of the Marketing Organization Scott became a full time Commercial Realtor. He isa multi-million dollar a year producer. He has earned a Certificate in Commercial Real Estate fromCornell University’s SC Johnson School of Business. Scott is also working towards his CCIM designationand has completed coursework in: User Decision Analysis, Market Analysis, Construction cost estimatingand scheduling, 1031 tax deferred exchange, Financial Analysis, Negotiations, Creating Reliablevaluations, Financial modeling for Real Estate Development and Construction Management and ProjectDelivery.Scott has closed Hotels, Banks, Churches, Multi Use Properties, Strip plaza’s, Multi-Family Properties andmulti-million dollar development projects. Scott is one of the most active Realtors in the Upstate Investment market.

EDUCATIONBachelor of Science, Industrial Engineering - State University of New York at Binghamton 1985.

MEMBERSHIPSCCIMNYSCAR

WARREN REAL ESTATE830 Hanshaw Road

Ithaca, NY 14850607.257.0666

ADVISOR BIO 1DAVES POWER EQUIPMENT // 26616 US ROUTE 11, GREAT BEND, PA 18821


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