redevelopment 58-80 east route 59 nanuet, new york memorandum

58-80 EAST ROUTE 59

NANUET, NEW YORKOFFERING

MEMORANDUM

850 Bronx River Road I Bronxville, NY 10708www.RoyalPropertiesInc.com

All information furnished herein is from sources deemed reliable. No warranty or representation is made to the accuracy thereof and it is submitted subject to errors, omissions and/or changes without notice.

CONTACT: 914-237-3400

www.RoyalPropertiesInc.comJeff Kintzer - Ext. 103

[email protected]

David Landes – Ext. 104

[email protected]

REDEVELOPMENT

Royal Properties, Inc. (“Broker“) has been retained as the exclusive advisor and broker for this offering.

In receiving this Offering Memorandum (“Offering Memorandum“), you confirm that you have read this Confidentiality Agreementand agree to the terms. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and it doesnot purport to be necessarily accurate or all-inclusive or to contain all of the information which prospective Buyers may need ordesire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to thegeneral economy and other factors beyond the control of the Seller and therefore are subject to variation. No representation ismade by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing containedherein shall be relied on as a promise or representation as to the future performance of the property. Although the informationcontained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expectprospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and theiremployees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted fromthe Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The OfferingMemorandum does not constitute a representation that there has been no change in the business or affairs of the property or theOwner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in theOffering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspectthe property will be made available upon written request to interested and qualified prospective Buyers.

By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate ofSeller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (includingreasonable attorney fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees,officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including,without limitation, reasonable attorney’s fees and court costs which may be incurred with respect to any claims for other realestate commissions, broker’s fees or finder’s fees in relation to or in connection with the property to the extent claimed, throughor under Seller.

The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offersregarding the property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have nolegal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the propertyunless a written agreement for the purchase of the property has been fully executed, delivered, and approved by the Seller and itslegal counsel, and any conditions to the Seller’s obligation thereunder have been satisfied or waived.

The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sourcesavailable to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treatit in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum orany of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whetheror not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization ofthe Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or mannerdetrimental to the interest of the Seller or Broker.

No employee of Seller or Tenant(s) at the subject property is to be contacted without the written approval of the Broker and doingso would be a violation of this confidentiality agreement.

Broker and their prospective Buyers agree not to contact the Tenants, their employees or customers of any business on theproperty without prior permission from the Seller.

DISCLAIMERTABLE OF

CONTENTS

▪ INVESTMENT OVERVIEW

▪ INCOME STATEMENT

▪ SITE PLAN

▪ TAX MAP

▪ AREA OVERVIEW

▪ AERIAL

▪ DEMOGRAPHICS

▪ ABOUT ROYAL PROPERTIES

850 Bronx River Road

Bronxville, NY 10708

All information furnished herein is from sources deemed reliable. No warranty or representation is made to the accuracy thereof and it is submitted subject to errors, omissions and/or changes without notice. www.RoyalPropertiesInc.com

Jeff Kintzer914-237-3400 - Ext. 103

[email protected]

David Landes914-237-3400 - Ext. 104

[email protected]

58-80 EAST ROUTE 59

NANUET, NEW YORK

SITE AREA:

Section 64.05, Block 1, Lots 15-20

AREA RETAILERS

ALDI, TJ Maxx, Sierra, HomeGoods, Kirkland’s Home Décor,

Michaels, PetSmart, Party City, Big Lots, AutoZone, Lumber

Liquidators, McDonald’s, Chili’s, Five Guys, H&R Block, At

Home (Coming Soon), J. Crew, Gap, Michael Kors, Sur La

Table, 24 Hour Fitness, Apple Store, Stop & Shop, Barnes &

Noble, Petco, Modell’s, Marshalls, Five Below, Vitamin

Shoppe, Verizon, Dollar Tree, Target, Starbucks, Home

Depot, Bed Bath & Beyond, Kohls and many more

INVESTMENT

OVERVIEW

OFFERING SPECIFICATIONS

NOI $402,789

SQUARE FOOTAGE

BUILDING 1

BUILDING 2

36,796

28,800

7,996

LOT SIZE 2.75 Acres

ANNUAL TAXES $193,466.73





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PROPERTY

2.75 acre property with two buildings totaling 36,796± square feet. Building 1 is a

one and part two-story, 28,800± square foot retail/office building. Building 2 is a

one and part two-story, 7,996± square foot office building.

TENANTS

Huntington Learning Center, In Style Nail Salon & Spa, Vista Furniture, David’s

Check Cashing, Tiny Trims, Momoyama Sushi House, Hwarang Tae Kwondo,

LOCATION

Situated in the Hamlet of Nanuet, in the Town of Clarkstown in Rockland County,

NY

PARKING

On-Site Parking at the Front, Sides and Rear of the Site

ACCESS

Route 59

YEAR BUILT

BI – 1975

B2 - 1955

SHAPE:

Irregular

FRONTAGE:340± feet of grade level frontage along the northern side of East Route 59, 338±

feet of grade level frontage along the western side of College Avenue and 366±

feet of grade level frontage along the southern side of West Nyack Road

ZONING:

• RS (Regional Shopping District)

• PO(Professional Office)

LOT 15 - 0.49± AcresLOT 16 - 0.24± Acres LOT 17 - 0.37± Acres

LOT 18 - 0.33± Acres LOT 19 - 0.75± Acres LOT 20 - 0.57± Acres

58-80 EAST ROUTE 59

NANUET, NEW YORKOVERVIEW

BUILDING 1





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DESCRIPTION

Building 1 is a one and part two-story, 28,800± square

foot retail/office building

CONSTRUCTED:

1975

FOUNDATION:

Masonry and concrete block

STRUCTURAL:

Masonry and steel frame

EXTERIOR WALLS:

Brick, stucco, wood and vinyl siding

ROOF:

Mostly flat with a built-up composition surface and

partly pitched with asphalt shingles

WINDOWS:

Aluminum framed, fixed pane storefront windows

BATHROOMS:

Each store has a minimum of one bathroom equipped

with at least two fixtures. Momoyama Sushi has

multiple restrooms

ELECTRIC:

Modern electrical system protected by circuit

breakers. Each unit is individually metered

BUILDING BREAKDOWN:

2,500± square feet – Huntington Learning Center

5,000± square feet – Vacant Retail

1,600± square feet – Vacant Retail

1,600± square feet – In Style Nails

3,800± square feet – Vista Dinettes

1,700± square feet – David’s Check Cashing

1,700± square feet – Tiny Trims

2,100± square feet – Momoyama Sushi

3,200± square feet – Hwarang Tae Kwondo

2,000± square feet – Vacant Retail (Rear)

1,200± square feet – Vacant Retail (Rear)

1,200± square feet – 2nd Floor Vacant Office

1,200± square feet – 2nd Floor Vacant Office

28,800± square feet – Total

ENTRANCES:

Units 1-8 have an entrance at the front of the building facing

East Route 59. Units 8 & 9 have entrances on the side of the

building facing College Avenue and units 10 & 11 have

entrances at the rear building facing West Nyack Road. The

second floor office units have access on the side of the

building

HVAC:

Each unit has a separate gas-fired HVAC unit

SPRINKLERS:

Fully sprinklered with a wet system

58-80 EAST ROUTE 59

NANUET, NEW YORKOVERVIEW

BUILDING 2





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DESCRIPTION

Building 2 is a one and part two-story, 7,996± square foot

office building

CONSTRUCTED:

1955 and expanded in 1975

FOUNDATION:

Masonry and concrete block

STRUCTURAL:

Wood frame

EXTERIOR WALLS:

Brick, stucco, wood and vinyl siding

ROOF:

Mostly pitched with asphalt shingles and partly flat with a

built-up composition surface

WINDOWS:

Wood framed, fixed pane storefront windows

ENTRANCES:

Each unit has its own entrance with the former dance

studio facing the parking lot and two additional units

facing West Nyack Road

BUILDING BREAKDOWN:

5,152± square feet – Vacant Dance Studio (1st and 2nd floor)

1,548± square feet – Owner-Occupied Grade Level Office

1,296± square feet – 2nd Floor Office

7,996± square feet – Total

BUILDING FINISHING:

Finished with carpet and vinyl tile flooring with painted

sheetrock and wood paneling walls and acoustic tile and

painted sheetrock ceilings. There is fluorescent lighting

throughout

BATHROOMS:

Four bathrooms, each equipped with a sink and toilet

ELECTRIC:

Modern electrical system protected by circuit breakers. Each

unit is individually metered

HVAC:

Window mounted air conditioning units

SPRINKLERS:

Hardwired smoke detectors and battery backups

58-80 EAST ROUTE 59

NANUET, NEW YORKINCOME

STATEMENT

INCOMERent $798,295.00

Retail Vacancy Loss (7%) ($45,667.00)

Office Vacancy Loss (9%) ($13,132.00)

TOTAL REVENUE $739,496.00

EXPENSESReal Estate Taxes $193,466.73

Insurance $18,400.00

Repairs & Maintenance $55,200.00

Professional Fees $5,000.00

Water $3,680.00

Electric (Common Area) $5,520.00

Management Fees $29,600.00

Misc. $14,800.00

Reserves (Replacement) $11,040.00

TOTAL EXPENSES $336,707.00

NET OPERATING INCOME $402,789.00

TENANT SQUARE FEET RENT/SFANNUAL

RENT

LEASE

EXPIRATION

DATE

Huntington Learning Center 2,500 $25.16 $62,889 4/30/22

Vacant Retail 5,000 $22.00 $110,000

Vacant Retail (Former Subway) 1,600 $31.15 $49,836

In Style Nails 1,600 $27.45 $43,928 11/30/23

Vista Dinettes 3,800 $18.95 $72,000 1/31/21

David’s Check Cashing 1,700 $31.60 $53,724 2/29/24

Tiny Trims 1,700 $28.24 $48,000 5/31/20

Momoyama Sushi 2,100 $35.05 $73,596 10/31/24

Hwarang Tae Kwondo 3,200 $22.50 $72,000 10/15/21

Vacant Retail (Rear) 2,000 $20.00 $40,000

Vacant Retail (Rear) 1,200 $22.00 $26,400

Vacant Office* 1,200 $18.00 $21,600

Vacant Office* 1,200 $18.00 $21,600

Vacant Dance Studio** 5,152 $10.00 $51,520

Owner-Occupied Off** 1,548 $18.00 $27,864

Vacant 2nd Floor Off** 1,296 $18.00 $23,328

TOTAL 36,796 $798,295





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*Second Floor Office

**Second Building

58-80 EAST ROUTE 59

NANUET, NEW YORKSITE PLAN





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BUILDING 2

BUILDING 1

58-80 EAST ROUTE 59

NANUET, NEW YORKTAX MAP





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58-80 EAST ROUTE 59

NANUET, NEW YORKAREA

OVERVIEW

NANUET – NEW YORK

The subject property is located within the southwesterly section ofthe Hamlet of Nanuet in the Town of Clarkstown, New York. TheTown of Clarkstown is located in the east central portion of

Rockland County and is bounded to the north by the Town ofHaverstraw, to the east by the Hudson River, to the south by theTown of Orangetown and to the west by the Town of Ramapo.

The immediate neighborhood boundaries are defined by the NewYork State Thruway (I-87) located to the north; Route 304 locatedto the east and south and South Pascack Road to the west. Route59 is a primary commercial thoroughfare traversing Rocklandcounty in an east-west direction. Improvements along Route 59 in

the immediate vicinity of the subject consist of a Wendy’sRestaurant just east and a Capital One Bank just to the west of thesubject. There is also a car dealership located directly across thestreet. Improvements on Route 59 include shopping centers withlocal, regional and national retailers, multi-tenanted retailbuildings, banks, gas stations, office buildings as well as “big box”retailers. West Nyack Road and College Avenue are secondarycommercial thoroughfares. West Nyack Road in the vicinity of thesubject property is improved with St. Anthony’s Church and Schooland becomes industrial to the east. College Avenue in the vicinityof the subject property is improved with a converted residenceand a side entrance to a shopping center.

Access to the subject neighborhood is provided by the New YorkState Thruway (I-87) with full service access ramps located ¼ mileto the north and the Palisades Interstate Parkway located ¼ mileto the east. These two roadways are major thoroughfares thatprovide either direct or by connection, access to all points in thecounty and the surrounding areas. Additionally, Route 59 and

Route 304 provide easy access to all points east, west, north andsouth of the subject. Bus service is available on Route 59.





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w w w . R o y a l P r o p e r t i e s I n c . c o m

ROCKLAND CENTER43 EAST ROUTE 59

NANUET, NY

RTL NANUET

SPRING VALLEY

MARKETPLACE

ROCKLAND PLAZA

SITE

ROCKLAND CENTER

58-80 EAST ROUTE 59

NANUET, NEW YORKLOCATION

AERIAL





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SHOPS AT NANUET

58-80 EAST ROUTE 59

NANUET, NEW YORK

DEMOGRAPHICS





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58 - 80 NY-59 1 mi radius

3 mi radius

5 mi radiusNanuet, NY 10954

PO

PU

LATI

ON

2020 Estimated Population 0 T 8,954 102,397 243,444

2025 Projected Population 0 T 9,079 103,712 247,027

2010 Census Population 0 T 8,698 97,038 228,495

2000 Census Population 0 T 8,260 88,232 208,055

Projected Annual Growth 2020 to 2025 - 0.3% 0.3% 0.3%

Historical Annual Growth 2000 to 2020 - 0.4% 0.8% 0.9%

2020 Median Age 42.1 36.1 35.1

HO

USEH

OLD

S 2020 Estimated Households 0 T 3,470 32,193 75,229

2025 Projected Households 0 T 3,535 32,666 76,437

2010 Census Households 0 T 3,306 30,466 70,547

2000 Census Households 0 T 3,086 28,301 65,740

Projected Annual Growth 2020 to 2025 - 0.4% 0.3% 0.3%

Historical Annual Growth 2000 to 2020 - 0.6% 0.7% 0.7%

RA

CE A

ND

ETH

NIC

ITY

2020 Estimated White - 72.2% 59.9% 71.0%

2020 Estimated Black or African American - 8.4% 21.7% 14.3%

2020 Estimated Asian or Pacific Islander - 13.4% 7.6% 7.3%

2020 Estimated American Indian or Native Alaskan - 0.2% 0.3% 0.2%

2020 Estimated Other Races - 5.8% 10.5% 7.2%

2020 Estimated Hispanic - 13.0% 19.2% 14.2%

INC

OM

E

2020 Estimated Average Household Income $0 T $135,758 $129,180 $137,587

2020 Estimated Median Household Income $0 T $108,923 $95,565 $101,287

2020 Estimated Per Capita Income $0 T $52,775 $40,723 $42,670

ED

UC

ATI

ON

(AG

E 2

5+

)

2020 Estimated Elementary (Grade Level 0 to 8) - 3.3% 6.5% 4.7%

2020 Estimated Some High School (Grade Level 9 to 11) - 4.6% 7.0% 6.6%

2020 Estimated High School Graduate - 17.4% 22.5% 22.0%

2020 Estimated Some College - 16.0% 16.8% 15.9%

2020 Estimated Associates Degree Only - 8.5% 8.5% 7.3%

2020 Estimated Bachelors Degree Only - 30.0% 22.0% 23.9%

2020 Estimated Graduate Degree - 20.2% 16.7% 19.6%

BU

SIN

ESS

2020 Estimated Total Businesses 0 T 979 4,553 10,881

2020 Estimated Total Employees 0 T 9,064 41,145 103,267

2020 Estimated Employee Population per Business - 9.3 9.0 9.5

2020 Estimated Residential Population per Business - 9.1 22.5 22.4

58-80 EAST ROUTE 59

NANUET, NEW YORK

Royal Properties, Inc. is a full service brokerage and consulting company

providing real estate solutions for landlords and retailers throughout New

York, New Jersey and Connecticut. Through constant market analysis,

current trend awareness and in-depth communication with our clients, our

management team has successfully completed numerous sales/lease

transactions resulting in millions of dollars in sales, savings and profits for our

clients. The Royal Properties management team has years of diversified

experience in retail/office leasing, shopping center ownership, property

management and actual hands-on retail store ownership.

Our 3 Areas of Expertise Are:

• Investment Sales

• Landlord Representation

• Tenant Representation

Over the years, we have successfully assisted landlords and retailers in the

evaluation of new markets and to assist in the development of strategic

plans for market entry/expansion. With our entrepreneurial spirit, we have

the ability to respond quickly and efficiently to our customers’ needs. Our

leasing strategy continually evolves as new and exciting ideas reach the

marketplace. Our success has been the direct result of team effort and

attention to detail. We understand the importance of each and every

transaction we are involved with and therefore, act with persistence,

dedication, patience and confidence. Our key objective is to provide high-

quality real estate services to help our clients achieve their short and long-

term goals.

ABOUT US





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redevelopment 58-80 east route 59 nanuet, new york memorandum

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