westchest avenu, suit n51 ry rook, ny 57 o 4.798.4900 ... … · westchest avenu, suit n51 ry rook,...
TRANSCRIPT
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
Hawthorne Office Building For Sale | Recently Renovated
INVESTMENT HIGHLIGHTS:
• 18,000 square foot renovated office building (70% leased) on 1+ acre site
• 2,500 square foot house attached to office building (vacant/gutted)
• Opportunity to demo house and develop Pad Site (retail/fast food drive thru permitted by code)
• Many recent capital improvements and upgrades to office building
• Great visibility and high traffic counts along busy Route 9A
3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
Hawthorne Office Building For Sale | Recently Renovated
3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
PROPERTY DESCRIPTION:
37 Saw Mill River Road is a three-story, 18,000 square foot office building constructed in 1984. The
building is equipped with one passenger elevator and newly renovated common areas. The property
is located on Route 9A, a major commercial thoroughfare. Saw Mill River Road is a main commercial
roadway that, in the immediate vicinity of the subject, is developed primarily with office parks, light
industrial facilities and scattered commercial uses including a Audi Car Dealership and several free
standing restaurants. Adjacent to the office building is a two story home that zoning allows to be
developed into a Retail Use or a Fast Food Drive Thru Restaurant.
37 Saw Mill River Road is located directly off the Saw Mill River Parkway, approximately a 45
minute drive to Midtown Manhattan. It is also located near the Interstate 287, a major east/west
thoroughfare. Adjacent to Wendy’s ; Across from Mack Cali’s Mid Westchester Executive Park,
Applebee’s, Executive Diner, New York Sports Club and Comfort Inn & Suites ; Within 1 mile of New
York Medical College and Regeneron Pharmaceutical Campus.
Traffic count 18,500 cars per day
RECENT IMPROVEMENTS:
New Cooling Tower, New Façade, New Digital Directory, Renovated Hallways with LED lighting,
New Elevator Cab, New Oil Burning Boiler
ZONING:
CRB-Rural Business District (Fast food drive thru restaurant a permitted use for pad site)
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
37 Saw Mill River Road, Hawthorne, NY
SUITE # TENANT SQ.FT MONTHLY RENT ANNUAL RENT SECURITY DEPOSIT EXPIRATION DATE RENT/SQ.FT NOTES
GFA DH Vision Inc 1,200 2,060.00$ 24,720.00$ 4,502.02$ 4/30/2023 20.60$
GFB Vacant 1,900 -$ -$
GFC Family Work Assoc 900 1,944.00$ 23,328.00$ 4/30/2020 25.92$
GFD Maya J. 896 1,491.57$ 17,898.84$ 2,983.14$ 6/30/2020 19.98$
101 CMDR Accounting 3,450 6,325.00$ 75,900.00$ 12,937.50$ 10/31/2021 22.00$
102 Caruso Financial Group LLC 900 1,500.00$ 18,000.00$ 3,182.70$ 1/31/2023 20.00$
103 SKMW LLC 1,320 2,000.00$ 24,000.00$ 4,500.00$ 5/31/2020 18.18$
200 New Vision Home Care 1,100 2,000.00$ 24,000.00$ 4,100.00$ 4/30/2021 21.82$ (electric included)
201 A. Servidone & B. Anthony Const. 1,300 2,350.00$ 28,200.00$ 4,700.00$ 7/31/2021 21.69$ (electric included)
202 Vacant 430 -$ -$ -$ (electric included)
203 Vacant 930 -$ -$ -$ (electric included)
204 Vacant 430 -$ -$ -$ (electric included)
205 Vacant 840 -$ -$ -$ (electric included)
37A Vacant House / Pad Site 2,500 -$ -$ -$
TOTALS 18,096 19,670.57$ 236,046.84$ 36,905.36$
Rent Roll 3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
37 Saw Mill River Road, Hawthorne, NY
Suite # TENANT SQ.FT EXPIRATION DATE Additional info
GFA DH Vision 1,200 4/30/2023 3% annual rent increase
GFB Vacant 1,900
GFC Family Work Assoc 900 4/30/2020
GFD Maya J. 896 6/30/2020 4% annual rent increase
101 CMDR 3,450 10/31/2021 3% annual rent increase
102 Caruso Financial Group LLC 900 1/31/2023 3% annual rent increase
103 SKMW LLC 1,320 5/31/2020
200 New Vision Home Care Services 1,100 4/30/2021 3% annual rent increase
201 A Servidone & B. Anthony Const. 1,300 7/31/2021
202 Vacant 430
203 Vacant 930
204 Vacant 430
205 Vacant 840
37A Vacant Value (Pad Site) 2,500
TOTALS 18,096
Vacant = 4,530
Total= 15,596
Office Vacancy = 29.05%
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
INCOME EXPENSES 2019
Annual Income: Base Rents 236,046.84$ Value of Vacant suites @ $22psf 99,660.00$ 4530Value of potential PAD SITE 2,500sf @40 psf 100,000.00$ 3% vacancy/collections (13,071.21)$ 422,635.63$
Annual Expenses: Real Estate Taxes 58,522.87$ Water/Sewer 800.00$ Fuel oil heat 5,000.00$ Utilities 17,000.00$ Insurance 16,800.00$ Snow Removal, Landscaping 5,000.00$ Repairs & Maintenance 10,000.00$ Admin/Legal 2,000.00$
115,122.87$ Net Operating Income: 307,512.76$
Income and ExpensesCapital Improvements Schedule
3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
37 Saw Mill River RoadCapital Improvements Schedule
Jun-13 New earthen berm in rear of propertyJun-13 LED Lighting Throuhgout Common AreasJul-13 Lobby and 1st Floor Hallway Renovations
Aug-13 Cameras & Central Station Aug-13 Replace Boiler Aug-13 New DirectorySep-13 Façade RepairNov-13 Remove Underground Oil TankNov-13 New Entrance - Brick Pavers, Sidewalk, and ConcreteAug-14 Exterior Façade Alteration Jul-16 Replace Cooling Tower
Numerous Office Renovations throughout ownership
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
APPL
ICAN
T/OW
NER:
No. Revision Date By
Drawing No:
Project No:
Date:
Scale:
Drawn: Approved:
ANY ALTERATION OF PLANS,SPECIFICATIONS, PLATS ANDREPORTS BEARING THE SEAL
OF A LICENSED PROFESSIONALENGINEER OR LICENSED LANDSURVEYOR IS A VIOLATION OF
SECTION 7209 OF THE NEWYORK STATE EDUCATION LAW,EXCEPT AS PROVIDED FOR BYSECTION 7209, SUBSECTION 2.
PROGRESSPLOTTING
Drawing: 37 SAW MILL RIVERRD.-SITE_recoverDate: 2017-06-20Time: 10:03 AMBy:
COPY
RIGH
T ©
2014
by JM
CAl
l Righ
ts Re
serve
d. N
o par
t of th
is do
cume
nt ma
y be r
epro
duce
d, sto
red i
n a re
trieva
l sys
tem, o
r tra
nsmi
tted i
n any
form
or by
mea
ns, e
lectro
nic, m
echa
nical,
photo
copy
ing, r
ecor
ding o
r othe
rwise
, with
out th
e prio
r writt
en pe
rmiss
ion of
JMC
PLAN
NING
, ENG
INEE
RING
, LAN
DSCA
PE A
RCHI
TECT
URE
& LA
ND S
URVE
YING
, PLL
C | J
MC S
ITE
DEVE
LOPM
ENT
CONS
ULTA
NTS,
LLC
| JOH
N ME
YER
CONS
ULTI
NG, IN
C. (J
MC).
Any
mod
ificati
ons o
r alte
ratio
ns to
this
docu
ment
witho
ut the
writt
en pe
rmiss
ion of
JMC
shall
rend
er th
em in
valid
and u
nusa
ble.
Proposed Building 3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
Survey 3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
G A R R Y K L E I NLicensed Associate Real Estate BrokerM. [email protected]
800 Westchester Avenue, Suite N-517 • Rye Brook, NY 10573 • O 914.798.4900
M a r k e t K n o w l e d g e | E x p e r i e n c e | R e p u t a t i o nK L E I N | L A N Z A T E A M
Aerial View and Regional Map 3 7 & 3 7 A S A W M I L L R I V E R R O A D H A W T H O R N E , N Y
O F F E R E D AT: $ 2 , 7 5 0 , 0 0 0
The information contained in this Offering Memorandum is confidential, furnished solely for the purpose of review by a prospective purchaser of certain information relating to the property mentioned herein (the “Proper-ty”), and is not to be used for any other purpose or made available to any other person without the prior written consent of HLC. The material is subject to errors and omissions and based on part upon information supplied by sources deemed reliable.