511 route 72 for sale: shopping plaza...striker investment realty has been exclusively retained to...
TRANSCRIPT
511 Route 72 FOR SALE: SHOPPING PLAZA
Michelle Streicher • Licensed Real Estate Broker | NY, NJ, DE, PA • Robert Streicher • Licensed Real Estate Salesperson | NJ • 973-497-1900 • [email protected]
MANAHAWKIN / NEW JERSEY ±18,846 Square Feet / 8 Retail Spaces / 1 Office Space
The information contained in the following Marketing Brochure is proprietaryand strictly confidential. It is intended to be reviewed only by the partyintended to be receiving it from Striker Investment Realty LLC and shouldnot be made available to any other person or entity without the writtenconsent of Striker Investment Realty LLC. This Marketing Brochure has beenprepared to provide summary, unverified information to prospectivepurchasers, and to establish only a preliminary level of interest in the subjectproperty. The information contained herein is not a substitute for a thoroughdue diligence investigation nor shall any information contained herein be reliedupon in connection with such due diligence. Striker Investment Realty LLC hasnot made any investigation, and makes no warranty or representation, withrespect to any aspect of the subject property or business, including but notlimited to the income or expenses for the subject property, the futureprojected financial performance of the property, the size and square footageof the property and improvements, the presence or absence ofcontaminating substances, PCB’s or asbestos, the compliance with State andFederal regulations, the physical condition of the improvements thereon, orthe financial condition or business prospects of any tenant, or any tenant’splans or intentions to continue its occupancy of the subject property. Theinformation contained in this Marketing Brochure has been obtained fromsources we believe to be reliable; however, Striker Investment Realty LLC hasnot verified, and will not verify, any of the information contained herein, norhas Striker Investment Realty LLC conducted any investigation regarding thesematters and makes no warranty or representation whatsoever regarding theaccuracy or completeness of the information provided. All potential buyersmust take appropriate measures to verify all of the information set forthherein and nothing contained herein is intended to be relied upon in anymanner in connection with the purchase of the subject property.
CONFIDENTIALITYAGREEMENT
NON-ENDORSEMENT NOTICEStriker Investment Realty LLC is not affiliated with, sponsored by, or endorsedby any commercial tenant or lessee identified in this marketing package. Thepresence of any corporation’s logo or name is not intended to indicate or implyaffiliation with, or sponsorship or endorsement by, said corporation of StrikerInvestment Realty LLC, its affiliates or subsidiaries, or any agent, product,service, or commercial listing of Striker Investment Realty LLC, and is solelyincluded for the purpose of providing tenant lessee information about thislisting to prospective customers.
STRIKER INVESTMENT REALTYHAS BEEN EXCLUSIVELY RETAINED TO MARKET:
511 Route 72, Manahawkin, Stafford Township, NJ
INVESTMENT SUMMARY
Striker Investment Realty is proud to present a 9-unit shopping plaza in Manahawkin, NJ.
• Comprised of 8 retails spaces and 1 second-story office space• Triple Net Leases (5-Year Terms)• Close proximity to the popular beach town of Long Beach Island• Each retail space at least 2,160 square feet• Illuminated signage• Ample Parking• Building fully sprinklered
Number of Retail Spaces 8
Number of Office Spaces 1
Number of Parking Spots 80+
Year Built 2003
NOI / CAP $265,935 / 7.00%
Square Footage 18,846
Price/SF $201.63
EXCLUSIVE LIST PRICE $3,800,000
INVESTMENT SUMMARY
Retail Office
8 1
LBI
EXTERIOR PHOTOS
EXTERIOR PHOTOS CONT.
VACANT SPACES
OFFICE SPACE
RETAIL SPACE
EXCLUSIVE LIST PRICE $3,800,000
Gross Rental Income $265,935
Property Taxes NNN
Utilities NNN
Insurance NNN
Management NNN
Repairs/Maintenance NNN
Total Expenses NNN
Net Operating Income $265,935
Cap Rate 7.00%
Gross Rent Multiplier 14.29
COMBINED INCOME AND EXPENSES
All figures are estimated. Based on numbers provided by owner, which have not been verified by Striker Investment Realty. Presented for informational purposes only and may not be indicative of what actual results of income or expenses may be nor does it purport to represent the results of income and expenses for future periods.
NNN | Triple Net Lease
RENT ROLL
All figures are estimated. Based on numbers provided by owner, which have not been verified by Striker Investment Realty. Presented for informational purposes only and may not be indicative of what actual results of income or expenses may be nor does it purport to represent the results of income and expenses for future periods.
Unit Tenant SF Mo. Rent $/SF/YR CAMAvg./Month.
Lease Term MI/MO Date
Lease Exp. Annual Rent CAM Share
CAMAnnual
Mgmt. FeeAnnual
1 BeachComberHome Leisure
2160 $2,708.75 $15.00 $925 5 YRS Sept-15 Aug-20 $32,505.00 12% $11,100 $600
2 Kerrigan Enterprises
2250 $3,187.50 $17.04 $925 5 YRS Aug-12 Jul-17MTM
$38,250.00 12% $11,100 $600
3 Carmines NY Bagel 2250 $2,100.009/1/20: $2,400
$11.16 $925 5 YRS Sept-17 Aug-22 $25,200.00 12% $11,100 $600
4 AndevCorporation*
2250 $2,623.33 $14.04 $925 1 YR May-18 May-19 $31,479.95 12% $11,100 $600
5 Philadelphia Polished Concrete
2250 $2,718.75 $14.52 $925 5 YRS Jul-15 Jul-20 $32,625.00 12% $11,100 $600
6 Benjamin Moore Paints
2250
$4,968.75 $13.20 $1,850 5 YRS Mar-13 Mar-18 $59,625.00 24% $22,200 15% of CAM
7 Benjamin Moore Paints
2250
8 Kitchen Encounters LLC
2186 $2,500.008/1/18: $2,750
$13.68 $880 5 YRS Feb-16 Jan-21 $30,000.00 11.50% $10,560 $600
9 AndevCorporation*
1000 $1,354.17 $16.20 $308.33 1 YR May-18 May-19 $16,250.00 4% $3,700 $200
Total 18846 $22,161.25 $265,934.95 100%
*Master Lease
w w w . S t r i k e r I n v e s t m e n t R e a l t y . c o m
contact us to schedule a showing
Michelle StreicherLicensed Real Estate Broker | NY, NJ, DE, PA
Robert StreicherLicensed Real Estate Salesperson | NJ
973-497-1900 • [email protected]