2780-2788 merrick road, bellmore, new york 11710...2780-2788 merrick road, bellmore, ny 11710...

Premium Commercial Strip Center FOR SALE

2780-2788 Merrick Road, Bellmore, New York 11710 FOR FURTHER INFORMATION PLEASE CONTACT EXCLUSIVE AGENT:

Derek Weinberger, Associate 212-792-2639, 516-965-1709 [email protected]

ALTHOUGH ALL INFORMATION REGARDING PROPERTY FOR SALE, RENTAL OR FINANCING IS FROM SOURCES DEEMED RELIABLE SUCH INFORMATION HAS NOT BEEN VERIFIED, AND NO EXPRESS REPRESENTATION IS MADE NOR IS ANY TO BE IMPLIED AS TO THE ACCURACY THEREOF, AND IT IS SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE.

*39 On Site Parking Spaces*

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10 Sullivan Street – Corner of Broome Street & Sixth Avenue

2780-2788 Merrick Road, Bellmore, NY 11710

Location: 2780-2788 Merrick Road, Bellmore, New York 11710

Section-Block-Lot: 63-209-358

Acreage : .506 Acres

Lot Area: 22,050 SF

Lot Dimensions: 150’ X 147

Building Size: 8,260 SF

Frontage: 150’ on Merrick Road

Zoning: Business A, Business B

Real Estate Taxes 2016: $73,235

Occupancy: 100%

Parking: 39 parking spaces

Demographics: $138,000 within 3 miles, population of 387,337 within 5 miles

Vehicles Per Day: Approx. 40,000 vehicles per day pass by this property on Merrick Road

Highlights: -150’ of frontage on Merrick Road -Building fully renovated in the last year -Fully Occupied –Located at the foot of a very busy intersection and traffic light

Neighbors: Dunkin Donuts, Subway, American Gymnastics, Red Door Spa, Kashi Japanese, Moe’s Southwest Grill, Ace Hardware, Chase Bank, Bellmore Post Office, Aboff’s Paints, 7-Eleven, Zorn’s

Property Summary: This newly renovated building is fully occupied by three tenants (Denny’s, Dental 365 and iChill). The property provides 150’ of frontage on Merrick road and 39 parking spaces. The building has recently been fully renovated and the parking lot has been repaved. The property is in mint condition. Bellmore is a very sought after retail location and properties rarely trade in the market.

Price: $4,525,000 (5% cap rate)

PROPERTY SUMMARY



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REVENUE M

UNIT SF PRO-RATA RENT/PM RENT/SF CAM/MO TAXES/MO RENT/YR RENT+REIMB/YR LEASE START LEASE EXP. OPTIONS

Denny's 4,500 55% 11,250$ 22$ 603$ $0 (See Below) 135,000$ 142,233$ 8/7/2005 6/30/2018 none

Dental 365 2,210 26% 6,078$ 33$ 655$ $1586 (See Below) 72,930$ 99,840$ 3/31/2030 3/31/2030 (2) 5 yr options 3% annual increase

iChill 1,550 19% 4,400$ 34$ 416$ $0 (See Below) 52,800$ 57,792$ 11/30/2016 11/30/2026 (1) 5 yr option 3% annual increase

Mobile Station Parking 1,000$ 12,000$ 12,000$ 10/31/2016 10/31/2020

TOTAL 8,260 100% 22,728$ 272,730$ 311,865$

PRICE/SF

Rent Increases 2017 RENT/PM RENT/YR

Denny's: April 2017 $6,000 increase Denny's 11,750$ 141,000$

Dental 365: 3% annual increases Dental 365 6,260$ 75,118$

iChill: Years (1-4) annual $200 increase, year (5) $150 increase, year (6) $350 increase iChill 4,600$ 55,200$

Mobile Station Parking: 4% annual increase Mobile 1,040$ 12,480$

Real Estate Tax Reimbursements Total 23,650$ 283,798$

Denny's: pays pro-rata share above base year taxes ($76,487)

Dental 365: pays pro-rata share of total RE taxes ($73,235)/(2016)

iChill: pays pro-rata share above base year taxes ($73,235)/(2016)

RENT ROLL



Revenue Amount

Rent 272,730$

Reimb 39,135$

Total 311,865$ Net Operating Income Amount

Revenue 311,865$

Expenses Amount Expenses (85,635)$

Real Estate Taxes 73,235$ NOI 226,230$

Planting* 1,000$

Landscape Maint.** 600$

Electricity 3,600$

Parking Lot Cleaning 1,200$ Asking Price 4,525,000$ Insurance 6,000$ Asking Cap 5.00%

TOTAL EXPENSES 85,635$ Price per SF 547.82$

*Annual Planting

**Monthly landscaping maintenance cost of $75 between April-November

PRO FORMA




SALES COMPS

Address Town Year Price Square Footage Price PSF

2928-2942 Merrick Road Bellmore January 2015

$2,800,000

5,253 $533



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PREMIUM COMMERCIAL STRIP CENTER FOR SALE

2780-2788 Merrick Road Bellmore, New York, 11710

WINICK REALTY GROUP LLC– LICENSED REAL ESTATE BROKERS 655 THIRD AVENUE, 8TH FLOOR, NEW YORK, NY 10017

T: 212-792-2600 F: 212-792-2660 WWW.WINICK.COM

FOR FURTHER INFORMATION PLEASE CONTACT EXCLUSIVE AGENT: Derek Weinberger, Associate 212-792-2639, 516-965-1709 [email protected]

mailto:[email protected]

2780-2788 merrick road, bellmore, new york 11710...2780-2788 merrick road, bellmore, ny 11710...

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