Great Owner/User Opportunity on the Main Line. 72 E: 3,878 SF of Retail/Office Space. Over 23,000 Vehicles per Day

Transcription

1 SALE or LEASE E Lancaster Ave Paoli, PA C APITAL COMMERCIAL R EAL ESTATE 3748 West Chester Pike Newtown Square, PA Phone: Fax: Great Owner/User Opportunity on the Main Line 72 E: 3,878 SF of Retail/Office Space Parcel Includes 74 E Lancaster Leased at $1,500 per Month Over 23,000 Vehicles per Day Within Walking Distance to the Paoli Train Station LEASE PRICE $15 SF SALES PRICE $800,000 Agent Contact: Justin Flowers Cell: jflowers@capitalcomre.com Chris Yangello Cell: cyangello@capitalcomre.com The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is Buyer/Lessee responsibility to independently confirm its accuracy and completeness. This is not intended to solicit another Broker s listing.

2 Bird's Eye Map View M Miiccrroossoofftt,, M Miiccrroossoofftt C Coorrppoorraattiioonn M Miiccrroossoofftt,, M Miiccrroossoofftt C Coorrppoorraattiioonn

3 Demographics Area and Density Area (Square Miles) Density(Population Per Square Mile) 2,563 1,375 1,170 General Population Characteristics Male 3,524 16,932 40,943 Female 4,017 18,758 44,758 Density 2,563 1,375 1,170 Urban 7,541 34,497 82,864 Rural -- 1,193 2,837 Population By Year Population (1990) 7,334 32,629 72,963 Population (2000) 7,149 34,231 79,466 Population (2010) 7,256 34,313 82,547 Population (Current ) 7,541 35,690 85,701 Population (5 Yr. Forecast ) 7,837 37,117 89,104 Percent Growth (Current Yr. /Previous Yr.) 3.77% 3.85% 3.75% Percent Forecast (5 Yr. Forecast /Current Yr.) 3.9% 4% 3.97% Population By Age Median Age Aged 0 to ,248 5,407 Aged 6 to ,843 7,271 Aged 12 to ,065 7,398 Aged 18 to ,689 4,946 Aged 25 to ,024 7,546 Aged 35 to ,542 10,764 Aged 45 to 54 1,075 5,666 13,203 Aged 55 to 64 1,065 5,445 12,589 Aged 65 to ,026 9,225 Aged 75 to ,181 5,110 Aged ,242 Total Population 7,541 35,690 85,701

4 Population By Race White Alone 6,278 30,624 73,840 Black Alone 461 1,197 2,434 Asian Alone 616 3,103 7,352 Native American and Alaska Native Alone Other Race Alone Two or More Races ,407 Population By Ethnicity Hispanic ,556 White Non-Hispanic 6,148 29,972 72,071 General Income Characteristics Median Household Income $102,936 $139,094 $137,974 Total Household Income $438,458,568 $2,492,206,709 $5,852,408,618 Average Household Income $139,859 $172,126 $174,381 Per Capita Income $58,143 $69,829 $68,289 Avg Family Income $171,194 $198,748 $211,784 Family Income, Per Capita $57,942 $64,993 $67,913 Families by Income Family High Income Avg $337,208 $344,007 $357,729 Under $15, $15,000 - $24, $25,000 - $34, $35,000 - $49, $50,000 - $74, ,775 $75,000 - $99, ,975 $100K - $125K ,209 $125K - $150K ,151 $150K - $200K 326 1,512 3,349 Over $200K 490 3,844 9,367

5 General Household Characteristics Households (Current ) 3,135 14,479 33,561 Families 1,932 9,575 22,735 Average Size of Household Median Age of Householder Median Value Owner Occupied $350,235 $431,218 $481,904 Median Rent $1,374 $1,244 $1,198 Median Vehicles Per Household Housing Units 3,380 15,387 35,558 Owner Occupied Units 2,234 11,372 25,960 Renter Occupied Units 901 3,107 7,601 Vacant Units ,997 Households by Income Under $15, ,409 $15,000 - $24, ,127 $25,000 - $34, ,329 $35,000 - $49, ,137 $50,000 - $74, ,519 3,451 $75,000 - $99, ,525 3,398 $100K - $125K 322 1,403 3,256 $125K - $150K 327 1,383 2,907 $150K - $200K 380 1,859 4,068 Over $200K 606 4,454 10,479 Total Households 3,135 14,479 33,561 Households by Rent Value Under $ $250-$ $500-$ $750-$ $1,000-$1, ,212 $1,250-$1, ,721 $1,500-$1, Over $2, Total Renter Occupied Units 901 3,107 7,601

6 Households by Year Built Median Year Built Built 2010 or Later 324 1,456 3,337 Built 2000 to ,106 Built 1980 to ,242 6,333 Built 1970 to ,666 4,541 Built 1960 to ,038 5,103 Built 1950 to ,026 2,615 5,523 Built 1940 to ,163 Built 1939 or Earlier 351 1,475 3,716 Total Households (2000) 3,034 13,860 31,617 Total Households (2010) 3,016 13,923 32,298 Total Households (Current ) 3,135 14,479 33,561 Total Households (5 Yr. Forecast ) 3,262 15,065 34,926 Percent Growth (Current Yr. /Previous Yr.) 3.89% 3.87% 3.84% Percent Forecast (5 Yr. Forecast /Current Yr.) 4.05% 4.05% 4.07% Households by Inhabitants Median Size Person 1,004 4,152 9,069 2 Person 1,071 5,048 11,588 3 Person 496 2,209 5,030 4 Person 346 1,897 4,770 5 Person ,249 6 Person or More Person Total Households 3,135 14,479 33,561 Employment By Place Of Business Total Employees 7,977 37,936 90,725 Total Establishments 555 1,913 4,079

7 Employment Travel Time Work at Home 187 1,327 2,932 Travel Time under 15min 959 4,648 10,707 Travel Time 15-29min 1,244 5,741 13,206 Travel Time 30-59min 957 3,983 9,744 Travel Time 60-89min 288 1,164 2,493 Travel Time over 90min Population 7,541 35,690 85,701 Education Attainment Over 25 Less than High School ,681 High School 951 3,271 7,900 Some College 559 2,561 6,394 Associate's Degree 373 1,243 3,050 Bachelor's Degree 1,807 9,798 23,204 Master's Degree 1,080 5,246 11,893 Professional Degree 272 1,729 4,108 Doctorate Degree 283 1,181 2,449 Total Population 7,541 35,690 85,701 Retail Sales Motor Vehicles -- $79,951,000 $229,635,000 Furniture and Home Furnishings -- $7,014,000 $18,871,000 Electrical and Appliances -- $4,233,000 $17,264,000 Building Materials and Garden -- $3,771,000 $33,028,000 Food and Beverage -- $33,194,000 $70,130,000 Health and Personal Care -- $6,447,000 $46,722,000 Gasoline Stations -- $3,498,000 $14,676,000 Clothing and Accessories $4,389,000 $11,692,000 $40,755,000 Spor ting Goods -- $2,698,000 $13,207,000 General Merchandise $30,088,000 Miscellaneous -- $4,243,000 $11,358,000 Nonstore Purchases -- $6,780,000 $6,780,000 Food Ser vices $15,710,000 $80,810,000 $204,898,000 Total Retail Sales $20,099,000 $244,331,000 $737,412,000 Consumer Expenditures Total Consumer Expenditures $232,541,000 $1,205,446,000 $2,783,886,000

8 Chapter 208. Zoning Article XVIII. Town Center Districts Township of Tredy rin, PA Wednesday, May 9, Purpose. Town Center Districts are intended to be consistent with Article VIIA of the Pennsylvania Municipalities Planning Code (Act 247) and are designed to improve the aesthetic quality and walkability of the area and streetscape, support the economic viability of the area, and promote opportunities for mixed-use buildings which permit residential and nonresidential uses above or behind nonresidential uses Use regulations. Mixed uses are encouraged. Land and buildings may be used and occupied for any one or combination of the following uses, and no other, unless otherwise speci ed. A. The following residential uses are permitted as stand-alone uses where the lots containing such uses do not have frontage along a major arterial highway as de ned in the Township's Comprehensive Plan, and are permitted as part of a mixed-use development, provided no residential use shall be permitted on the ground oor of a mixed-use development when the development has frontage on a major arterial highway, unless approved pursuant to K below: (3) Single-family attached dwelling (townhouse). Two-family detached dwelling (duplex). Multifamily dwelling. B. C. D. E. F. G. H. Retail (excluding auto sales). O ce. Personal services. Public or private club or lodge. Technical school. Library. Restaurant (excluding drive-in/drive-through facility), provided that any outdoor consumption shall meet all of the following requirements: Outdoor seating must be contiguous to the establishment preparing the food being served and shall not extend beyond the limits of the establishment's frontage(s). If any outdoor seating extends into any public right-of-way, an unobstructed walkway at least six feet wide shall be maintained for pedestrian circulation. I. J. K. Surface parking facility, subject to the requirements of D below, and of the Township Subdivision and Land Development Ordinance. Structured parking facility, subject to the requirements of D below and of the Township's Subdivision and Land Development Ordinance. The following stand-alone uses when authorized as a conditional use pursuant to : Single-family attached dwelling (townhouse), two-family detached dwelling (duplex), or multifamily dwelling (apartment house), when any lot containing such use: Has frontage on a major arterial highway; Abuts a railroad; Has a maximum lot depth, measured from the major arterial highway, of 125 feet; (d) Has a maximum of one curb cut per 100 feet of frontage and su cient turning area to negate the necessity for any vehicle to back out onto the major arterial highway; and (e) Is not feasible for mixed-use development, as demonstrated by the applicant. Day-care center, provided that: L. Outdoor play or instruction areas shall be located at least 50 feet from any street line or property line and shall be provided with landscape screening su cient to bu er adjoining properties from noise or other disturbances. In addition to the general parking requirements of , an o -street dropo area shall be provided which is su cient to accommodate not less than one vehicle per ve individuals enrolled. Signs when erected and maintained in accordance with the provisions of Article XXV Area, bulk, height and bu er requirements. Every building or use shall comply with the following requirements. In the case of a group or combination of buildings erected on a lot in accordance with a uni ed plan, the group as a unit shall comply. A. B. C. Lot area and width. The lot area shall not be less than 7,500 square feet and the lot width at the building line shall be not less than 50 feet. Lot area per dwelling unit. Each two-family detached dwelling (duplex) development shall have a lot area per dwelling unit of not less than 6,000 square feet. Each single-family attached dwelling (townhouse) development shall have a lot area per dwelling unit of not less than 2,900 square feet per dwelling unit. Each multifamily dwelling (apartment house) development shall have a lot area per dwelling unit of not less than 2,100 square feet. Building footprint. For single-use nonresidential buildings, the maximum gross oor area of the ground oor shall be 10,000 square feet. For residential or mixed-use buildings, the maximum gross oor area of the ground oor shall be 15,000 square feet. Applicants for residential or mixed-use developments may be eligible for bonus square footage pursuant to below.

9 D. E. F. G. H. Impervious coverage. For lots with frontage along a major arterial highway, not more than 90% of the lot area may be covered by impervious surface. For lots without frontage along a major arterial highway, not more than 70% of the lot area may be covered by impervious surface. Front yard. There shall be no minimum front yard setback except that distance necessary to provide the required sidewalks and streetscape. Side yards. No side yard shall be required, except that where a lot abuts a residential district in the Township or a similar district in an adjoining municipality, a side yard shall be provided which shall be not less than 20 feet in width. If a side yard is provided where none is required, it must be a minimum of 10 feet. Rear yard. No rear yard shall be required, except that where a lot abuts a residential district in the Township or a similar district in an adjoining municipality, a rear yard shall be provided which shall be not less than 25 feet in depth. If a rear yard is provided where none is required, it must be a minimum of 10 feet. Height. [Amended by Ord. No. HR-403] Minimum. The minimum height of any building shall not be less than 28 feet. Maximum. The maximum height of any building shall not be more than 42 feet. Applicants for mixed-use developments may be eligible for bonus height pursuant to below. I. Bu er. Where a property line directly abuts a single-family residential district or use or where a property line abuts a street and a single-family residential district or use is located across the street, a bu er area of not less than 15 feet in width shall be provided, subject to the provisions of B. No parking shall be permitted in this bu er area. J. Building separation. The distance at the closest point between any two residential buildings or groups of attached residential buildings shall be not less than 20 feet. The distance at the closest point between any two nonresidential buildings or groups of attached nonresidential buildings shall be not less than the minimum distance required by the International Building Code as incorporated in the Pennsylvania Uniform Construction Code. [Added by Ord. No. HR-403] Zoning bonuses. A. B. C. The Board of Supervisors, after review and recommendation by the Planning Commission, may authorize modi cation of the provisions and requirements of B, C and H above regulating building lot area per dwelling unit, building footprint and building height if an application for development is deemed to be in compliance with the spirit of the Zoning Ordinance and the Tredy rin Township Comprehensive Plan and advances the goals and objectives described therein. The modi cation shall take the form of zoning bonuses and must be authorized as a conditional use. During the conditional use hearing, detailed development plans must be presented, and conditional use approval may be granted only in return for speci c action on the part of the applicant which advances and implements the planning concepts prescribed for the Town Center District. The application shall be submitted in accordance with the provisions of Eligibility for zoning bonuses. The zoning bonuses may only be granted by the Board of Supervisors conditional to such speci c reciprocal action on the part of the applicant which, by determination of the Board, furthers the objectives and general planning concepts of the Town Center District and the Comprehensive Plan. Applicants shall provide a list of the reciprocal actions being proposed and the rationale for choosing the particular actions which, in the determination of the applicant, justify the granting of a zoning incentive. Examples of actions which warrant consideration by the Board are: (3) Providing publicly available, non-patron, o -street parking in excess of the minimum number of spaces required by The number of spaces to be provided shall be at least an additional 20% above the required minimum or 10 spaces, whichever is greater. Renovating existing building facades to incorporate public art or unique architectural features into the design of the structure. Achieving certi cation by the U.S. Green Building Council (USGBC) at or above the "silver" level rating as de ned by the Leadership in Energy and Environmental Design (LEED) Green Building Rating System. The standard shall be LEED-NC Version 2.2 for new construction, LEED-CI Version 2.0 for interior improvements to existing commercial spaces, and LEED-ND Version 2.0 for neighborhood development, or as such standards are most recently amended. Applicants are strongly encouraged to achieve the highest LEED's certi cation possible in multiple categories. (4) Installing innovative stormwater best management practices, such as construction of "green roof" buildings capable of managing small storm events through rooftop landscaping or bioretention facilities and rain gardens as complementary landscape features. (5) (6) For residential or mixed-use buildings, providing a minimum of 75% of required parking within a structured parking facility. Similar cooperative actions indicating a desire to further the goals and objectives of the Township Comprehensive Plan. D. Conditional zoning bonuses may be granted as follows: (3) Lot area per dwelling unit bonus. For residential or mixed-use buildings, the maximum lot area per dwelling unit may be decreased to 1,800 square feet. Building footprint bonus. Additional gross oor area of the ground oor up to a maximum of 25,000 square feet for residential or mixed-use buildings. Height bonus. Additional height up to a maximum of 56 feet for mixed-use buildings, subject to the following conditions: Setbacks. A building setback of an additional 15 feet shall be made for that portion of the building that exceeds 42 feet in height and faces a street. Windows. Except for rst oor/ground oor use, the windows for all buildings shall be all vertical in orientation or all horizontal in orientation. Windows shall not be arranged such that vertical and horizontal orientation is mixed. Proximity to single-family zoning districts. The building is at least 100 feet from the property line of any property in the R-1, R-2 or R-3 Residential Zoning District. [Added by Ord. No. HR-370] Special development regulations. A. B. C. D. Sidewalks. Sidewalks shall be provided between a building and the street. For Town Center District lots located more than 1.0 mile from a train station measured in a radius from the center of the train station, the Planning Commission shall have the discretion to approve a modi ed pedestrian circulation design in conjunction with a proposed site design. [Amended by Ord. No. HR-403] Streetscape. The streetscape design regulations in M(11) of the Township Subdivision and Land Development Ordinance shall be provided for all developments. Mixed-use development. No residential use shall be permitted on the ground oor of a mixed-use development when the development has frontage on a major arterial highway as de ned in the Township's Comprehensive Plan, unless approved pursuant to K. Parking. Each use shall comply with the o -street parking and o -street loading requirements of and , except that a minimum of 2.25 parking spaces per dwelling unit shall be provided for each multifamily dwelling use. Loading spaces serving multifamily uses shall be located as close as possible to entranceways for the purpose of facilitating the e cient handling of household items such as laundry and groceries. When this chapter imposes a di erent restriction upon the use of buildings or premises than are imposed or required by and , the provisions of this chapter shall prevail. Surface parking lots. Surface parking must be located between the principal structure and the side and rear lot line, provided that, where no structure exists between the street and the surface parking facility, such facility shall be enclosed by a knee-high wall or row of landscaping. In no case shall surface parking facilities be located within 20 feet of a

10 On corner lots, the parking shall be located along the street with the lesser amount of commercial and pedestrian activity. (d) street line. [Amended by Ord. No. HR-403] Parking areas must be interconnected, to the extent feasible, with parking areas on adjacent properties to facilitate pedestrian and vehicular circulation. When interconnected parking areas are not immediately feasible, the applicant must provide access easements and design the parking area to facilitate future connections. A surface parking lot is not permitted as a standalone use if the property on which it is located abuts or is across the street from a property in the R-1, R-2 or R-3 Residential Zoning District. [Added by Ord. No. HR-370] Structured parking. (d) (e) Structured parking is encouraged. Structured parking facilities are required to be designed to enhance the pedestrian-friendly streetscape and the character of the surrounding buildings and uses. Facades that are visible from the street or sidewalk shall be complementary to nearby commercial facades in terms of building materials and architectural design. Exterior nish materials shall be of an enduring quality. Synthetic stucco, concrete block and simulated wood products may not be used as primary exterior nish materials. Vehicular entrances to parking structures should be designed using residential or neighborhood commercial architectural treatments such as recesses, peaked roof forms and arches with the intention of minimizing the appearance of a parking garage. The use of chains, bars or similar security devices that are visible from a street shall be prohibited. Any structured parking facility with frontage on a major arterial highway shall contain retail or commercial space along the entire length of each rst oor facade which faces a street. Such commercial or retail space may be relieved only by the vehicular entranceway to the garage area. Any structured parking facility with frontage along a street other than a major arterial highway shall not be required to contain retail or commercial space but shall be required to contain facades that enhance the streetscape of the existing neighborhood. Such facades may be relieved only by the vehicular entranceway to the garage area. If the property on which the structured parking is located abuts or is across the street from a property in the R-1, R-2 or R-3 Residential Zoning District, structured parking is not permitted as a standalone use and is permitted as an accessory use only on the ground oor or below. [Added by Ord. No. HR-370] (3) Shared parking. In order to encourage the e cient use of land and resources, applicants are permitted to share o -street parking facilities for mixed-use developments or for uses located su ciently close to one another that have di erent peak parking demands or operating hours. In order to utilize this provision, applicants must: Provide a parking demand analysis for each use that exceeds 2,400 square feet of gross oor area for approval by the Township Engineer that demonstrates adequate parking will be provided for the uses on site during peak hours. The analysis should generally be consistent with the published recommendations of the Institute of Tra c Engineers (ITE). Data collected from similar or comparable uses to the proposed use may also be submitted for review. For any change of use involving shared parking, a new parking demand analysis shall be submitted as determined necessary by the Zoning O cer. Demonstrate that the shared parking shall be located no further than 500 feet from the entrance to the buildings and uses they are intended to serve. Provide a written, legally-binding agreement among the owners of record, their tenants, and those with which parking facilities are shared for review and approval by the Township. E. Design standards. Each use shall comply with the following design standards: Front facade. The front facade of any building shall promote an attractive and pedestrian-friendly streetscape. Characteristics to be considered in making such assessment shall include, but not be limited to, style, location, materials, scale and window/door placement. Varied building designs that avoid long at facades are required. No more than 40 feet of continuous facade shall be created for any new building at the rst oor level. Any building which is wider than 40 feet at the rst oor level shall have a recess of at least four feet at intervals of 20 feet. A continuous facade shall be created along the sidewalk frontage, except for a rst oor break in the street wall that may be created for a vehicular entranceway to a structured parking facility, where such break in the street wall does not exceed 30 feet in width. No building shall be a windowless box. Doors and windows shall constitute no less than 60% of the front façade for buildings containing nonresidential uses. [Amended by Ord. No. HR-403] (3) No building shall have opaque windows. (4) (5) If the rst oor front facade is set back from the edge of sidewalk by more than ve feet, the area between the front facade and the edge of sidewalk shall be used for enhanced pedestrian spaces and amenities, such as a landscaped plaza or courtyard, a sculpture garden, or other civic-like space accessible to pedestrians. Exterior amenities, to be owned and maintained by the property owner, such as benches, information kiosks, bike facilities, bus shelters and/or publicly-accessible privatelyowned plazas, shall be provided on private property or within adjoining public rights-of-way (Reserved) (Reserved) (Reserved)