RARE STUDENT PERMITTED BUILDING FOR SALE 204 W. Gay Street West Chester, PA

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1 RARE STUDENT PERMITTED BUILDING FOR SALE 204 W. Gay Street West Chester, PA

2 table of contents Executive Summary Site Aerial Listing Details Tenant Overview marketed Exclusively by: Location Aerial Area Development Borough of West Chester Demographics This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property to your needs.

3 executive Summary Precision Realty Group, LLC. has been retained to act as the exclusive agent for the sale of a RARE Student Permitted Apartment located at 204 W Gay Street, in The Borough of West Chester, Pennsylvania. The property consists of 2 Apartment Units with highly sought after Student Permits which are non-transferable assets in The Borough of West Chester. Unit A is a One (1) Bedroom Student Permitted Apartment. Unit B is a Two (2) Bedroom Student Permitted Apartment. With close proximity to Gay Street & Market in the heart of The Borough of West Chester, the site is ideal for student base. OFFERING PROCESS Ownership has established an asking price of $550,000. The Owner will consider all circumstances relating to each proposal including, without limitation, the purchase price, contingencies, if any, period to conduct due diligence, time required to close and the financial capacity and ability of each Purchaser to perform. Property and market tours will be provided by PRG upon request. All discussions with tenant(s) at the site regarding this offering or lease(s) at the property are strictly prohibited.

4 site aerial N. gto rlin Da t. N. ns proposed development Site ch ur Ch. St SITE t. G W. S ay Chester County Justice center rk Ma. W t. S et Chester County court house

5 listing details GENERAL PROPERTY DETAILS UPI: Square Feet: 1,728 +/- Acre(s):.04 Zoning: Town Center (TC) 2 Unit Apartment Building 2 Student Permits Separately Metered for Gas & Electric Roof 1: Replaced 2 years Roof 2: Less than 10 years old Water Heater: Less than 5 years old Washer & Dryer on site Large backyard with alley access to Darlington St. Unit A 1 Bedroom: 2 Students Currently $1,200 Per Month Unit B 2 Bedroom: 4 Students TENANT OVERVIEW Unit A: Student Permit One (1) Bedroom Lease: $1,200 Per Month (2 Students) Currently Leased Tenant Pays: Gas/Electric/TV & Internet Unit B: Student Permit Two (2) Bedroom Lease: Historically Leased $2,200 Per Month (4 Students) AVAILABLE 6/1/18 Tenant Pays: Gas/Electric/TV & Internet EXPENSES Water & Sewer $ Insurance $1, Real Estate Tax $2, Apartment Fee $84.00 Common Electric $ Histically $2,200 Per Month

6 Location aerial SITE

7 proposed development plan Builder Eli Kahn, of D-Town Associaties, LP, along with partners Adam Lowe and Matt Adams bought the former Chester County Property Renderings Annex from the county in 2011 and said that every plan they are considering would call for demolishing the existing structure. Kahn s vision calls for a 45,000 square-foot, four-story building, with three floors of Class A office space above a floor of retail, and one or two fine dining restaurants. proximity to 204 W. Gay Street Property Renderings N. Darlington St. Church St. Gay St. proposed development Site SITE

8 borough of west chester Over 60 Boutiques Over 65 Restaurants Over 100 Annual Events West Chester was first settled in 1712 and since then has offered hospitality for visitors from around the world. It became the seat for Chester County in 1786, its current boundaries were established in 1788 and incorporated as a borough in A timeline of West Chester's development is found at Historic Milestones of West Chester. Stroll along brick sidewalks past the building where Abraham Lincoln began his quest for the presidency; where the great African-American folk artist Horace Pippin lived and painted; and where America's preeminent composer Samuel Barber was born and raised (best known for his Adagio for String Orchestra). The entire downtown district is listed on the National Register of Historic Places. Enjoy the Greek Revival architecture along High Street that gave West Chester the nickname Athens of the West. Within the Borough limits, there are over 4,200 structures dating back to the colonial period. ONE OF THE WORLD'S MOST PERFECT SMALL TOWNS. - The Philadelphia Inquirer West Chester University of Pennsylvania (WCUPA) is a public university located in West Chester, Pennsylvania. It is the largest of the 14 state universities of the Pennsylvania State System of Higher Education(PASSHE). Total enrollment: 17,306 (2017)

9 borough of west chester Hosting over 100 events annually, West Chester brings thousands of visitors and residents to the downtown area on a regular basis. BIGGEST annual EVENTS QVC Christmas Parade: 20,000+ Attendees West Chester was named to the top ten Best Small Town Downtowns in the United States by Bert Sperling and Peter Stander, authors of Best Places to Raise a Family. The book cites West Chester s right sized combination of stable employment, local downtown amenities, college presence, historic interest, recreation and convenience at an attractive cost. Chili Cook Off: 5,000-10,000+ Attendees Twighlight Bike Race: 5,000-10,000+ Attendees Restaurant Festival: 5,000-10,000+ Attendees Top Employers In Chester County Company Industry 1 Vanguard Group Inc. Finance 2 QVC Network Inc Entertainment 3 County of Chester Government 4 Federal Government Government 5 Chester County Hospital (Penn Medicine) Healthcare 6 Main Line Health Systems Healthcare 7 Giant Food Stores LLC Retail 8 Cerner Health Services Healthcare 9 PA State System of Higher Education Education 10 The Devereux Foundation Healthcare

10 demographics Demographics 1 mile 3 miles 5 miles Estimated Population 4,217 69, ,707 Average Age Average HH Income 39.2 $103, $106, $120,240 Type: Public Coeducational Total enrollment: 17,306 (2017) Estimated Total Employees 3,454 58,507 96,990 Established: 1871 Traffic Counts (Daily) 13,000 Endowment: $23 million as of 2015 SitesUSA, Inc. President: Christopher Fiorentino Provost: R. Lorraine Bernotsky Academic Staff: 685 full-time / 277 part-time