3111 NEW HYDE PARK RD

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1 3111 NEW HYDE PARK RD North Hills, NY FULLY LEASED 26,690 SF MEDICAL OFFICE BUILDING CLOSE PROXIMITY TO NORTHERN STATE PARKWAY AND LONG ISLAND EXPRESSWAY

2 ASKING PRICE: $18,000,000 FOR FURTHER INFORMATION OR INSPECTION, PLEASE CONTACT EXCLUSIVE AGENTS: ROBERT KNAKAL Chairman x7777 JONATHAN HAGEMAN Sales Team Manager x7773 BENJAMIN EFRAIMOV Director of Sales x2608 ELYSA BERLIN Director of Sales x7764 FOR INFORMATION ON POTENTIAL FINANCING, PLEASE CONTACT: PRESTON FLAMMANG Director - Capital Services x7736 pflammang@masseyknakal.com

3 3111 NEW HYDE PARK RD TABLE OF CONTENTS 1 EXECUTIVE SUMMARY 7 FINANCIAL OVERVIEW 15 FLOOR PLANS

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5 3111 NEW HYDE PARK R O A D Executive Summary 3111 New Hyde Park Road is a beautifully designed two-story, medical office building located on 1.75 acres between Hollow Lane and Dakota Drive right off the Northern State Parkway New Hyde Park Rd exit. The building is approximately 26,690 gross square feet and fully occupied by three medical tenants. 1

6 EXECUTIVE SUMMARY The Opportunity The building currently generates approximately $1,164,252 in annual gross revenue. Integrated Medical Professionals aka ARC occupies the front of the building and currently leases 13,800 square feet (inclusive of their extension) for $540,252 annually plus 3% yearly escalations and 56% of all current year real estate taxes and operating expenses. At the commencement of their lease in April 2007, they built an additional 3,000 SF extension which currently is used for advanced cancer treatments. The cost of this 3,000 SF addition was $12,000,000 and features state of the art technology. ARC s lease runs until April 2022 at which time they have the right to exercise their first 5-year option at the escalated rent of approximately $824,280, which equates to approximately $59.73 per square foot NNN. Northern OBGYN and Aesthetic Dermatology are located in the rear of the property and occupy a combined 10,800 square feet. Both practices are thriving and combined pay $364,000 annually plus 2.5% yearly escalations and significant reimbursements in real estate taxes and operating expenses. The property also features a 115 space parking lot which is monitored daily by a parking attendant. The subject is extremely well located as it abuts both the LIE and Northern State Parkway New Hyde Park Road exits and is within close proximity to the world renowned North Shore LIJ, St. Francis and Winthrop Hospitals. Property Stats LOCATION: SECTION / BLOCK / LOT: 8 / G / 922 LOT SIZE: STORIES: 2 On the east side of New Hyde Park Rd between Hollow Ln and Dakota Dr 1.75 Acres YEAR BUILT: 1983 LEASEABLE SQ. FOOTAGE: CELLAR SQ. FOOTAGE: COMMERCIAL UNITS: 3 PARKING SPACES: ,690 (Approx.) 4,639 (Approx.) TOTAL TAXES (14/15): $191,225 LONG ISLAND EXPY NEW HYDE PARK RD NORTHERN STATE PKWY 3111 NEW HYDE PARK ROAD 2

7 EXECUTIVE SUMMARY NEW HYDE PARK R O A D 3

8 EXECUTIVE SUMMARY NEW HYDE PARK ROAD

9 EXECUTIVE SUMMARY 5

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11 3111 NEW HYDE PARK R O A D Financial Overview 7

12 FINANCIAL OVERVIEW Rent Roll Tenant Type Lease Exp. Size (SF) Monthly Rent Rent/SF 2015 Annual Rent Integrated Medical Professionals Medical Office 4/1/22 13,800 $45,021 $39.15 $540,252 Northern OBGYN Medical Office 7/31/22 7,542 $21,833 $34.74 $262,000 Aesthetic Dermatology Medical Office 7/31/19 3,348 $8,917 $31.96 $107,000 Total: 24,690 $75,771 $909,252 Annual Gross Revenue $909,252 Reimbursement Income: $255,000 Total Annual Revenue: $1,164,252 Less Expenses: $273,473 Net Operating Income: $890, NEW HYDE PARK ROAD

13 FINANCIAL OVERVIEW Revenue & Expenses REVENUE 2015 Commercial Potential Gross Income: $909,252 Estimated Reimbursement Income: $255,000 Effective Gross Income: $1,164,252 EXPENSES Estimated $/SF Real Estate Taxes (14/15) Full Taxes $191,225 $7.75 Insurance Based on Actual + 3% $8,240 $0.33 Water & Sewer Based on Actual + 3% $7,725 $0.31 Repairs & Maintenance Based on Actual + 3% $3,605 $0.15 Landscaping and Snow Removal Based on Actual + 3% $22,600 $0.92 Professional Fees Based on Actual + 3% $5,150 $0.21 Management 3% of EGI $34,928 $1.41 Total Expenses: $273,473 $11.08 NET OPERATING INCOME 2014 Effective Gross Income: $1,164,252 Less Expenses: $273,473 Net Operating Income: $890,780 9

14 FINANCIAL OVERVIEW Lease Abstract Tenant: Gross SF: Integrated Medical Professionals LLC aka ARC 10,800 SF + 3,000 SF addition: Total SF 13,800 SF Lease Commencement Date: April 2nd, 2007 Lease Expiration Date: April 1st Renewal Options: Lease Type: Yes Two 5-year options. Renewal Rent based upon current escalated rent of $59.73 psf % increases per year NNN tenant pays 56% of all operating expenses. Tenant pays 50% of the total 2007 base year real estate taxes and 100% of the increase in real estate taxes over the base year. Base Rent Schedule: Term Monthly Rent Annual Rent Rent Per SF April 2nd, 2014 April 1st, 2015 $43, $524, $48.56 April 2nd, 2015 April 1st, 2016 $45, $540, $50.02 April 2nd, 2016 April 1st, 2017 $46, $556, $52.45 April 2nd, 2017 April 1st, 2018 $47, $573, $53.06 April 2nd, 2018 April 1st, 2019 $49, $590, $54.66 April 2nd, 2019 April 1st, 2020 $50, $608, $56.30 April 2nd, 2020 April 1st, 2021 $52, $626, $57.99 April 2nd, 2021 April 1st, 2022 $53, $645, $59.73 First Rent Renewal Term: New Rent is set at current rent per square foot ($59.73) times the total 13,800 SF Term Monthly Rent Annual Rent Rent Per SF April 2nd, 2022 April 1st, 2023 $68, $824, $59.73 April 2nd, 2023 April 1st, 2024 $70, $849, $61.52 April 2nd, 2024 April 1st, 2025 $72, $874, $63.36 April 2nd, 2025 April 1st, 2026 $75, $900, $65.26 April 1st, 2026 April 1st, 2027 $77, $927, $ NEW HYDE PARK ROAD

15 FINANCIAL OVERVIEW Lease Abstract Tenant: Northern Obstetrics & Gynecology Gross SF: 7,452 Lease Commencement Date: August 1st, 2001 Lease Expiration Date: June 30th, 2022 Renewal Options: Lease Type: Two 5-year options 2.5% annual rent increases after June 30th, Tenant pays 30% of increase in real estate taxes over base year 2010/2011. Tenant receives $62,000 annual base operating allowance. Any additional expenses over $62,000 are 100% reimbursed to the landlord. Base Rent Schedule: Term Monthly Rent Annual Rent Rent Per SF July 1st, 2012 June 30th, 2018 $21, $262, $35.15 July 1st, 2018 June 30th, 2019 $22, $268, $36.03 July 1st, June 30th, 2020 $22, $275, $36.93 July 1st, 2020 June 30th, 2021 $23, $282, $37.86 July 1st, 2021 June 30th, 2022 $24, $289, $

16 FINANCIAL OVERVIEW Lease Abstract Tenant: Aesthetic & Surgical Dermatology of New York Gross SF: 3,348 Lease Commencement Date: August 1st, 2012 Lease Expiration Date: July 31st, 2019 Renewal Options: Lease Type: None 2.5% annual rent increases after August 1st, Tenant pays 14.3% of the increase in real estate taxes over base year 2011/2012 and 14.3% of the current year s operating expenses. Base Rent Schedule: Term Monthly Rent Annual Rent Rent Per SF August 1st, 2012 July 31st, 2016 $8, $107, $31.95 August 1st, 2016 July 31st, 2017 $9, $109, $32.75 August 1st, 2017 July 31st, 2018 $9, $112, $33.57 August 1st, 2018 July 31st, 2019 $9, $115, $ NEW HYDE PARK ROAD

17 FINANCIAL OVERVIEW 13

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19 3111 NEW HYDE PARK R O A D Floor Plans 15

20 FLOOR PLANS Survey NEW HYDE PARK ROAD

21 FLOOR PLANS Section 17

22 FLOOR PLANS Ground Floor Plan NEW HYDE PARK ROAD

23 FLOOR PLANS Cellar Plan 19

24 FLOOR PLANS NEW HYDE PARK ROAD

25 FLOOR PLANS 21

26 CONFIDENTIALITY & CONDITIONS This is a confidential brochure intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of 3111 New Hyde Park Road, North Hills, NY (the Property ). This brochure was prepared by Massey Knakal Realty Services, ( Massey Knakal ) and has been reviewed by representatives of Ownership. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which prospective purchasers may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of Massey Knakal or Owner and, therefore, are subject to material variation. Additional information and an opportunity to inspect the Property and plans will be made available to interested and qualified investors. Neither Owner, Massey Knakal nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. All square footage measurements must be independently verified. Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this brochure or making an offer to purchase the Property unless and until a written agreement satisfactory to Owner has been fully executed, delivered, and approved by Owner and any conditions to Owner obligations thereunder have been satisfied or waived. By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of Owner nor will you use this brochure or any of its contents in any fashion or manner detrimental to the interest of Owner or Massey Knakal. It is essential that all parties to real estate transactions be aware of the health, liability and economic impact of environmental factors on real estate. Massey Knakal does not conduct investigations or analysis of environmental matters and, accordingly, urges its clients to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCB s and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions, are present at the Property and, if so, whether any health danger or other liability exists. Such substances may have been used in the construction or operation of buildings or may be present as a result of previous activities at the Property. Various laws and regulations have been enacted at the federal, state and local levels dealing with the use, storage, handling, removal, transport and disposal of toxic or hazardous wastes and substances. Depending upon past, current and proposed uses of the Property, it may be prudent to retain an environmental expert to conduct a site investigation and/or building inspection. If such substances exist or are contemplated to be used at the Property, special governmental approvals or permits may be required. In addition, the cost of removal and disposal of such materials may be substantial. Consequently, legal counsel and technical experts should be consulted where these substances are or may be present. While this brochure contains physical description information, there are no references to condition. Neither Owner nor Massey Knakal make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own independent engineering report to verify property condition. In this brochure, certain documents, including leases and other materials, are described in summary form. The summaries do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of the documents. Interested parties are expected to review independently all relevant documents. The terms and conditions stated in this section will relate to all of the sections of the brochure as if stated independently therein. If, after reviewing this brochure, you have no further interest in purchasing the Property at this time, kindly return this brochure to Massey Knakal at your earliest possible convenience. Photocopying or other duplication is not authorized. This brochure shall not be deemed an indication of the state of affairs of Owner, nor constitute an indication that there has been no change in the business or affairs of Owner since the date of preparation of this brochure. All zoning information, including but not limited to, use and buildable footage must be independently verified NEW HYDE PARK ROAD

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28 FOR FURTHER INFORMATION OR INSPECTION, PLEASE CONTACT EXCLUSIVE AGENTS: ROBERT KNAKAL Chairman x7777 JONATHAN HAGEMAN Sales Team Manager x7773 BENJAMIN EFRAIMOV Director of Sales x2608 ELYSA BERLIN Director of Sales x7764 FOR INFORMATION ON POTENTIAL FINANCING, PLEASE CONTACT: PRESTON FLAMMANG Director - Capital Services x7736 pflammang@masseyknakal.com