10,761 SF Mixed-Use Building

Transcription

1 For Sale 10,761 SF Mixed-Use Building Lafayette Avenue Hawthorne, NJ Asking: Reduced! $1,650,000 $1,450,000 Offered by: Enn Kunnapas Director of Multi-Family Group x140 Barry Cohorsky, sior Senior Vice President x Moore Street Hackensack, NJ naihanson.com 10 Lanidex Plaza West Parsippany, NJ

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

3 Area Information 1 Area Information History isn t clear how the borough came to be named Hawthorne. One theory is that the municipality was named after the author Nathaniel Hawthorne. The other is that it was derived from the hawthorn bush, a thorny vegetation that had to be cleared from the cow pastures in the farmland community. The municipality was incorporated by an act of the New Jersey Legislature on March 24, Dr. Sylvester Utter was elected the first mayor of this community. The early years were marked by an atmosphere of inexperience and indecisiveness. Around 1908, a house building program began that developed Hawthorne into a suburban community. In the mid 1980 s, fueled by environmental concerns related to the departure of two large chemical companies, a movement began for a charter change. The work of a charter study commission culminated in a vote to adopt the mayor/council form. This created four wards to give residents a representative in each area of the community and the right to directly elect their mayor. The first election under the mayor/council form was held in In 110+ years of history, the borough has had only 16 mayors, with Mayor Louis Bay, 2nd holding that office for 40 years spanning 1947 to Hawthorne is fortunate enough to have a number of active volunteer organizations supported and staffed by the residents, including the Hawthorne Fire Department, the William B. Mawhinney Ambulance Corps, and the Community Emergency Response Team. The Domestic Violence Response Team and various youth sports organizations. Additional volunteers are always welcome. The Hawthorne Public Schools are dedicated to the mission of providing quality educational opportunities to all students in the K-12 school district that serves the town.. St. Anthony's Catholic Elementary School (K-8) and the Hawthorne Christian Academy (K-12) serve those seeking a faith based education. The Louis Bay 2nd Library provides a variety of cultural, historical, entertainment and technological services to the community. Hawthorne Demographics Population (2010) 18,791 Median Age 40.2 Households ( ) 7,454 Median household income ( ) $72,985 Number of Companies 4,952 *All information comes from sources deemed reliable by NAI James E. Hanson 1

4 Property Overview 2 Property 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 Lafayette Avenue Hawthorne, NJ Property Type Mixed-Use Year Built 1930 Block/Lot 105/14 105/14 Lot Size 30x150 Block/Lot 105/15 105/15 Lot Size 15xIRR Zoning B-2 - Central Business District Parking 10 spaces 2

5 Property Overview 2 Property 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 2

6 Property Overview 2 Property Overview Virtual Turn-Key Medical and/or Urgent Care Suite Upper Level Lower Level Four ADA Bathrooms Thirteen Exam Rooms Multiple Doctors offices Four Stand-Up Work Stations Eight 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 52 x 28 Four Doctors offices One ADA Bathroom One Conference Room One Large Clerical Office Personnel Break Room and Kitchen Record Storage Area 2

7 Assessed Value 3 Income & Expenses Assessed Value: B/L 105/ Lafayette Avenue Land $60,000 Building $393,900 Total $453,900 B/L 105/ 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% 3

8 Income & Expenses 3 Income & Expenses Annual Income: Medical (Previous occupant) $168, Apartment #1 $22, Apartment #2 $20, Gross Income $211, Less: Vacancy $10, Effective Income $200, Annual Expenses: Real Estate Taxes $39, Insurance $12, Water/Sewer $0.00 Heat $0.00 Electric $1, Miscellaneous $2, Repairs & Maintenance $10, Management $10, Total Expenses $74, Net Operating Income $125,

9 4 Rent Roll Unit Square Feet Monthly Rent Rent Roll Rent Per SF Medical Office (Previous occupant) 7,381 $14,000 $22.76 Apartment #1 Apartment #2 1,780 1,600 $1,900 $1,700 N/A N/A 10,751 SF $17,600 Total Monthly Rent 3 bedroom 2 bedroom 4

10 Property Aerial 5 Aerial Subject Property 5

11 Property Photos 6 Photos 6

12 Property Photos 6 Photos 6

13 Property Photos 6 Photos 6

14 Tax Map & Information 7 Tax Map & Information 7

15 235 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.