Retail Strip Center Investment in Centereach, NY · This two tenant retail strip features a tattoo...
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Retail Strip Center Investment in Centereach, NY 1442 Middle Country Rd, Centereach, NY, 11720 Two tenant stable strip center - Ideal for 1031 Exchange Five Point Real Estate 35 Pinelawn Road Suite 214E Mellville, NY 11747 631-683-8003 www.fivepointre.com Disclaimer The information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers shou to the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Transcript of Retail Strip Center Investment in Centereach, NY · This two tenant retail strip features a tattoo...
Retail Strip Center Investment in Centereach, NY1442 Middle Country Rd, Centereach, NY, 11720Two tenant stable strip center - Ideal for 1031 Exchange
Five Point Real Estate35 Pinelawn Road
Suite 214E Mellville, NY 11747
631-683-8003 www.fivepointre.com
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Presented By:Five Point Real Estate
35 Pinelawn Road Suite 214E
Mellville, NY 11747 631-683-8003
www.fivepointre.com
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Table of Contents
About Us
Investment Description
Property Characteristics
Financial Information
Aerial Overview
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
ABOUT USFive Point Real Estate is a leading commercial real estate firm located in Melville, New York focused on the sale and management of income producing properties. Concentrated in Long Island’s Nassau andSuffolk counties, the firm specializes in selling all asset classes including multifamily apartment buildings, retail strip centers, retail grocery anchored shopping centers, net leased investments, medical officebuildings, multitenant office buildings, special use properties such as sports facilities and land and development deals.
In addition to the brokerage and sale of investment properties, Five Point Real Estate’s core services include Property Management, Portfolio and individual property evaluations and opinions of value, and1031 Exchange guidance and advisory services. Using state of the art web based technologies, Five Point offers value add services allowing local and out of state owners of properties located in Nassau andSuffolk counties to collect revenues stress and hassle free. If you are interested in our Property Management services, please email us at [email protected].
Five Point Real Estate’s Principals have guided dozens of clients through the complete life-cycle of a 1031 exchange including initial tax benefits of a proposed sale, corporate entity and structure review inadvance of disposition, client engagement for the sale of the asset, and then replacement property identification and acquisition. Five Point Real Estate’s deep network of professional colleagues include legal,accounting and qualified intermediary support required to effectively and successfully navigate the complexities of a 1031 tax free exchange. For more information, please email [email protected].
Corey Gluckstal | Managing [email protected] 631-683-8003 ext. 102
516-660-0423
Guy Canzoneri | Managing [email protected]
631-683-8003 ext.101 516-607-7722
631-683-8003 ext.108 631-617-1519
John [email protected]
631-683-8003 ext.111 516-528-5290
Jerry [email protected]
631-683-8003 ext.110 516-590-6692
Tyler [email protected]
631-683-8003 ext.107 516-547-0427
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Property DescriptionThe subject property is a one story 5,000 SF building consisting of two tenants, located on Middle Country road. It is just East of of heavily trafficked Nicolls Road with over 65,000 VPD. This site is less than half amile from the LIE and four miles from the Smith Haven Mall, which is one of the largest malls on Long Island.
This two tenant retail strip features a tattoo shop and a professional foot masseuse. The oversize lot is 62,291 SF which creates an opportunity for the new owner to capitalize on the property behind the building.Additionally, Cliff's Tattoo is responsible for cleaning, maintenance, and snow removal.
National and regional retailers in the area include Trader Joes, Whole Foods, Petco, 7-Eleven, UPS, Five Guys, U-Haul, and many more.
Property CharacteristicsBuilding SF 5000 SFLot Size 1.43 ACYear BuiltFrontage 115' on Middle Country RoadParking 20Taxes $ 21,391.00Parcel ID 0200-488-00-06-00-005-001
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Rent Roll
Tenant Name
# of Beds(If Multi-Family) Pro Rata
RentableSF
Lease StartDate Lease End Date
Base RentPSF
Monthly BaseRent
Annual BaseRent
Annual CAM/TaxReimbursements
Total GrossAnnual Rent
AnnualEscalations Comments/Options
Cliff's Tattoo 70.00% 3,500 06/01/16 05/31/21 5% Tenant Pays for SnowRemoval
Foot Masseuse 30.00% 1,500 07/01/17 06/30/21 5%
Total 2 100.00% 5,000 $ 149,625.00 $ 0.00 $ 149,625.00
$35.94 $10,483.75 $125,805.00 $0.00 $125,805.00
$15.88 $1,985.00 $23,820.00 $0.00 $23,820.00
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Pricing
Asking Price Net Operating Income Cap Rate$ 1,596,210 $ 111,735 7.00 %
Income Statement Financial Analysis
RevenueRental Income $ 149,625Vacancy/Credit Loss ( $ 4,489 )Total Gross Revenue $ 145,136
ExpensesReal Estate Taxes $ 21,391Insurance $ 3,650Management Fee $ 2,993Alarm $ 260Fire Inspection $ 108Roof & Structure Reserves $ 5,000Total Expenses $ 33,402
Net Operating $ 111,735
Price $ 1,596,210.00LTV 65.00 %Mortgage Amount $ 1,117,350.00Closing Costs $ 0.00Downpayment $ 558,673.50Interest Rate 4.00 %Amort. Yrs 30
Mortgage Payment $ 4,953.36Annual Debt Service $ 64,012.80Net Operating Income $ 111,735Cash Flow $ 52,294.40Cash on Cash Return 9.36 %Cap Rate 7.00 %
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Aerial Photo
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
Property Photo
DisclaimerThe information herein does not constitute an offer, representation, or warranty, and Five Point Real Estate of NY LLC cannot and does not guarantee the completeness or accuracy of any information contained herein. Prospective purchasers should independently verify all information pertainingto the subject property; and may do so through, among other sources, available public records from the applicable municipality.
