PRICED TO SELL! 10,761 SF. For Sale Lafayette Avenue MOTIVATED OWNER. Mixed-Use Building. Hawthorne, NJ. Offered by:

Transcription

1 For Sale 10,761 SF PR IC E RE DU Or C gin E all D yp T ric O ed $ at 1.2 $1 M.6 5m M m Mixed-Use Building Lafayette Avenue Hawthorne, NJ Offered by: Barry Cohorsky, sior Senior Vice President x175 bcohorsky@naihanson.com MOTIVATED OWNER PRICED TO SELL! Enn Kunnapas Director of Multi-Family Group x140 ekunnapas@naihanson.com 235 Moore Street Hackensack, NJ naihanson.com 10 Lanidex Plaza West Parsippany, NJ

2 Table of Contents Section 01 Overview Section 02 Assessed Value Section 03 Income & Expenses Section 04 Rent Roll Section 05 Map of Area Hospitals Section 06 Photos Section 07 Tax Map Information

3 Overview 1 Overview The subject property is a two (2) story stucco and masonry mixed-use building containing a commercial unit plus two apartments totaling 10,761 square feet. The commercial unit consists of the former Heart and Lung Center, a medical office unit containing 7,381 square feet. There are two apartments on the second floor consisting of a 3 bedroom unit with 1,780 square feet and a 2 bedroom unit with 1,600 square feet. Both the commercial and residential units pay their own utilities. Currently, the medical office space is vacant. Address Type Lafayette Avenue Hawthorne, NJ Mixed-Use Block/Lot 105/14 105/14 Lot Size 30 x 150 Block/Lot 105/15 105/15 Lot Size 15 x IRR Zoning Parking B-2 - Central Business District 10 spaces in rear Street parking permitted 1

4 Overview 1 Overview The subject lies in the B-2 - Central Business District. According to the ordinance, no building shall he used and no building shall be erected or altered which is arranged, intended or designed to be used except for general retail, personal service, amusement and recreation or cultural facilities and wherein the principal activity shall be the sale on the premises to the ultimate consumer of goods, commodities, services or the furnishing of facilities. Principal Permitted Uses (land and buildings) Barber Shop Grocery Store Drugs & pharmaceutical Banks and financial institutions Professional and business offices R-2 residential uses: single family, semi attached and two-family Schools Parks and playground 1

5 Overview 1 Overview Virtual Turn-Key Medical and/or Urgent Care Suite Four ADA bathrooms 13 exam rooms Multiple doctors offices Four stand-up work stations 8 larger procedure rooms (one wired for MRI device) One shielded x-ray room One personnel changing room with lockers Barrier free with personnel ada elevator Oxygen distribution system in-place Four doctors offices One ADA bathroom One conference room One large clerical office Personnel break room and kitchen Record storage area 1

6 Assessed Value 2 Assessed Value 297 Lafayette Avenue Assessed Value Land $60,000 Building $393,900 Total $453, Lafayette Avenue Land $169,500 Building $79,300 Total $248,800 Combined Land $229,500 Building $473,200 Total $702, tax rate 5.671/per tax ratio 53.03% 2

7 Income & Expenses 3 Income & Expenses Annual Income Office/Medical "Projected" $168,000 Apartment #1 $22,800 Apartment #2 $20,400 Gross Income $211,200 Less: Vacancy -$10,560 Effective Income $200,640 Annual Expenses Real Estate Taxes $39,850 Insurance $12,000 Water/Sewer $0 Heat $0 Electric $1,000 Miscellaneous $2,000 Repairs & Maintenance $10,000 Management $10,000 Total Expenses $74,850 Net Operating Income $125,790 3

8 4 Rent Roll Unit Size (SF) Medical Office (vacant) 7,381 Apartment #1 (3 BR) 1,780 Apartment #2 (2BR) 1,600 TOTAL 10,751 Rent Roll Monthly Rent Rent Per SF $14,000 $1,900 $1,700 $17,600 $22.76 N/A N/A 4

9 Aerial Subject of Area Hospitals 5 5 Map

10 Photos 6 Photos 6

11 Photos 6 Photos 6

12 Photos 6 Photos 6

13 Tax Map & Information 7 Tax Map & Information 7

14 + 235 Moore Street 10 Lanidex Plaza West Hackensack, NJ Parsippany, NJ naihanson.com THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES CONSIDERED TO BE RELIABLE, BUT NO GUARANTEE OF ITS ACCURACY IS MADE BY NAI JAMES E. HANSON.