Tottenville Staten Island Mixed Use Building For Sale 261-265 Main Street, Staten Island, NY 10307
Prepared by: Richard DiPietro Licensed R.E. Salesperson Office: 347-809-5192 Mobile: 347-693-2995 Email: richard.dipietro@coldwellbanker.com
Gary Talis Licensed R.E. Salesperson Office: 718-921-3100 x347 Mobile: 516-234-3214 Email: g.talis@coldwellbanker.com
Coldwell Banker Reliable Commercial Division
Phone: (718)921-3100 Web: www.cbrcd.com
7428 Fifth Avenue, Brooklyn, NY 11209
Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks licensed to Coldwell Banker Commercial Affiliates. Each Office is Independently Owned and Operated.
Executive Summary The Offering: Coldwell Banker Reliable Commercial Division is pleased to offer 261-265 Main Street for sale. A 6,350 SF 3 unit mixed use corner property with an additional 1,675 SF parking area, situated on a 4,850 SF lot. located in the Tottenville neighborhood of Staten Island, NY.
Executive Summary
Investment Highlights:
The Property
Actual Financials: $97,200 gross revenue / $87,965 net income / 6.3% cap rate
261-265 Main Street, Staten Island, NY 10307
Commercial tenant pays approximately 33% of expenses. Residential tenants pay heat, hot water and electric.
Property Type:
Class:
Mixed Use Primary Two Family with One Store or Office (S2)
6,350 SF two story corner property with a additional 1,675 SF parking area on a 4,850 SF lot.
Building Size:
Fully renovated, well maintained property with minimal expenses.
Parking SF:
1,675 SF
Lot Size:
4,850 SF
Number of Stories:
2
Zoning:
R3X, C2-1, SRD
Location Highlights:
Property Specifications
Located on Amboy Road & Main Street nearby retailers, businesses restaurants and public transportation. Easy access to the West Shore Expressway, Outerbridge Crossing, Arthur Kill Road and Hylan Blvd.
Commercial Units Residential Units
6,350 SF
1 / 3,675 SF 2 / 2,675 SF
Close proximity to public transportation (SIM 26, X17, X22, X22A, S78 buses and Staten Island Railroad)
For Sale Price Sale Price:
$1,388,888
Median household income over $100k.
Per SF Price:
$219
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Financials 261-265 Main Street, Staten Island, NY 10307 Projected Revenues and Expenses For the 10 Years Ending 2028 Year 1 Projected Income: Gross Revenue Recoveries (33% NNN) Projected Expenses: Water & Sewer Maintenance Building Insurance Real estate taxes Total expense Projected Net Income
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
$97,200 $100,116 $103,119 $106,213 $109,399 $112,681 $116,062 $119,544 $123,130 $126,824 $4,548 $4,639 $4,732 $4,827 $4,923 $5,022 $5,122 $5,225 $5,329 $5,436
3,888 1,458 1,800 6,637 13,783
3,966 1,487 1,836 6,770 14,059
4,045 1,517 1,873 6,905 14,340
4,126 1,547 1,910 7,043 14,627
4,208 1,578 1,948 7,184 14,919
4,293 1,610 1,987 7,328 15,218
4,379 1,642 2,027 7,474 15,522
4,466 1,675 2,068 7,624 15,832
4,555 1,708 2,109 7,776 16,149
4,647 1,742 2,151 7,932 16,472
$87,965 $90,697 $93,512 $96,413 $99,404 $102,486 $105,662 $108,936 $112,310 $115,788
Investment Overview Asking Price
$1,388,888
Year 1 Capitalization Rate
6.3%
Price Per SF
$219
Gross Rent Multiple
14
Projections Commercial (1 Unit / 3,675 SF)
$48,000
Residential (2 Apartments / 2,675 SF / 2 BR $1800 / 3 BR $2,300)
$49,200
Parking SF
1,675
Lot SF
4,850
Building SF
6,350
Assumptions to Financial Pro Forma The Financial Pro Forma depicts a ten (10) year cash flow projection. The projection is based upon actual rental rates with assumptions regarding the future occupancy of the building as well as current and future market conditions. The following assumptions were used in developing the Financial Pro Forma for the Property: 2% annual expense increases 3% annual revenue increases
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Survey
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Maps
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Traffic Count Report
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Demographic Market Comparison Report
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Demographic Market Comparison Report (Continued)
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Demographic Summary Report
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Daytime Employment Report
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Consumer Spending Report
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Market Overview Consumer Spending Report (Continued)
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Contact Information
Contact Info For more information, please contact:
Richard DiPietro, Licensed R.E. Salesperson 7428 5th Ave. Brooklyn, NY, 11209 Phone: 347-809-5192 Fax: 347-809-5192 Mobile: 347-693-2995 Email: richard.dipietro@coldwellbanker.com
Coldwell Banker Reliable Commercial Division 7428 5th Ave Brooklyn, NY , 11209 Phone: 718-921-3100 Fax: 718-921-3110 Website: cbrcd.com
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division
Confidentiality Statement
Confidentiality Statement This offering has been prepared solely for informational purposes. It is designed to assist a potential investor in determining whether it wishes to proceed with an indepth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the Coldwell Banker Commercial affiliate or by the Seller. The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied, are made that actual results will conform to such projections. This document is provided subject to errors, omissions and changes in the information and is subject to modification or withdrawal. The contents herein are confidential and are not to be reproduced without the express written consent. Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will be given a reasonable opportunity to inspect and investigate the Property and all improvements thereon, either independently or through agents of the buyer’s choosing. The Seller reserves the right to withdraw the Property being marketed at any time without notice, to reject all offers, and to accept any offer without regard to the relative price and terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to be prepared by the Seller and executed by both parties; and (iii) approved by Seller and such other parties who may have an interest in the Property. Neither the prospective buyer nor Seller shall be bound until execution of the contract of purchase and sale, which contract shall supersede prior discussions and writings and shall constitute the sole agreement of the parties. Prospective buyers shall be responsible for their costs and expenses of investigating the Property and all other expenses, professional or otherwise, incurred by them.
7428 Fifth Avenue, Brooklyn, NY 11209 (718)921-3100 www.cbrcd.com
Coldwell Banker Reliable Commercial Division