Available For Sale 996 E Railroad Avenue, Bryn Mawr, PA
Executive Summary On behalf of ownership, Avison Young is pleased to present the opportunity to purchase 996 E. Railroad Avenue in Bryn Mawr, PA. The subject 1.17 Acre property is located on three road frontages (E. Haverford Road, County Line Road and Railroad Avenue) with two existing buildings currently used for office. The prime location and beautiful park-like setting coupled with the outstanding local demographics make it well-suited for a creative office headquarters, adaptive reuse or a residential redevelopment. The Main Line Market has experienced significant redevelopment over the past 5 years, with retail, office and medical office space. The property is located in Haverford Township in zoning district O1 (Office -1) Neighboring uses to the property include office, multifamily residential, medical offices, retail, and banking. In addition, 996 E. Railroad Avenue is located just blocks from the Lancaster Avenue retail corridor and less than a quarter of a mile from the Bryn Mawr commuter rail station. The current tenant is relocating from their headquarters that they ve been in for over 50 years to accommodate their growth. This property is being offered for sale with all best and final offers due by June 15th, 2017. The seller reserves the right to negotiate the final 3 best offers. Additional Information May be Obtained from the Seller s Exclusive Representatives: AVISON YOUNG Scott Williams, Principal D 610.276.3147 C 610.721.9912 scott.williams@avisonyoung.com Jeff Klagholz, Associate D 215.383.2687 C 610.8045624 jeff.klagholz@avisonyoung.com
PROPERTY OVERVIEW Address: Site Area: Zoning: Visibility: Location: Notes: 996 E. Railroad Avenue, Bryn Mawr, PA 1.172 Acres, 2 existing buildings O1 (Office-1, Haverford Township Located with three road frontages (E Haverford, County Line, Railroad) Less than 1,000 feet to Bryn Mawr Commuter Rail Station Located in heart of Main Line Submarket redevelopment
SITE AERIAL Railroad Avenue County Line Road Haverford Road
SITE PLAN
ZONING MAP
ZONING ORDINANCE OFFICE DISTRICT A. Specific intent. It is the purpose of this section to make provision in certain selected areas of the Township for office development. These locations are areas which are supported by existing commercial and institutional uses and by access to the major circulation systems of the Township. B. Use regulations: (1) Principal uses. In any 0-1 District, land, buildings or premises may be used or occupied by only one of the following: (a) Professional offices as defined in 182-1068 of this chapter. (b) The office or studio of an optometrist, photographer, magistrate, insurance agent, musician, masseur, artist or practitioner of a similar character. (c) A real estate, utility collection or similar commercial or business office not involving characteristics normally associated with retail activities on the premises. (d) An office building or offices of an administrative, executive or governmental agency, but not including shops or retail sale facilities. (e) Banks or similar financial institutions. (f ) Reserved (g) Governmental or utility uses or buildings as permitted in 182-202B(1)(c). (2) Accessory uses. Only the following accessory uses shall be permitted: (a) Accessory uses on the same lot with and customarily incidental to any of the above-permitted uses, including signs as permitted in 182-701. (b) Solar energy equipment. (3) Uses by special exception. The following uses shall be permitted as a special exception when authorized by the Zoning Hearing Board: (a) Installation and/or construction of satellite dishes, earth station satellites and television satellites when located not less than 10 feet from an adjoining property line and in accordance with provisions of 182-726 governing satellite television receive-only antennas. (b) Medical clinic C. Area and bulk regulations. The following regulations shall be observed: (1) Lot size: 1/2 acre minimum. (2) Street frontage: 100 feet minimum. (3) Building coverage: 20% maximum. (4) Front yard: 35 feet minimum. (5) Side yards: 15 feet on each side from property lines or adjacent structures, except where the side yard of the premises abuts any premises zoned residential, in such case the abutting side yard shall be a minimum of 35 feet
(6) Rear yard: 20 feet minimum, except where the rear yard of the premises abuts any premises zoned residential, in such case the abutting rear yard shall be a minimum of 35 feet. (7) Height: 45 feet maximum or three stories, exclusive of basement, and for each foot or portion thereof by which said building exceeds 35 feet in height, the depths of the front and rear yards and the width of each side yard shall be increased by one foot. (8) Impervious surface ratio: 60% maximum. D. Special regulations. No signs, product or goods shall be publicly displayed on the exterior of the premises or from windows in the building or placed so they can be seen from the outside through windows of the building, except for signs as permitted in the sign regulations, 182-701E. E. Off-street parking regulations. Off-street parking regulations shall be as required by 182-707 of this chapter, provided that no part of any front yard is to be used for garage, storage or off-street parking purposes. F. Off-street loading regulations. Off-street loading regulations shall be as required by 182-708 of this chapter. G. Performance and design standards. Performance and design standards shall be as required by 182-717 and 182-718 of this chapter.
BRYN MAWR VILLAGE BRYN MAWR SQUARE Roberts Road Station (NHSL) Bryn Mawr Station (Paoli/Thorndale Line) BRYN MAWR PLACE Bryn Mawr Station (NHSL)
DEMOGRAPHICS Within 3 miles of 996 E Railroad Avenue KEY FACTS EDUCATION 84,836 Population 39.8 3% 2.48 Average Household Size Median Age $102,448 Median Household Income No High School Diploma 13% High School Graduate 15% Some College 68% Bachelor s/grad /Prof. Degree 3,827 Total Businesses BUSINESS 42,242 Total Employees White Collar Blue Collar Services EMPLOYMENT 83% 6% 10% 3.7% Unemployment Rate INCOME Households By Income This area: The largest group: $200,000 + (21.6%) The smallest group: $15,000 - $24,999 (4.7%) $102,448 Median Household Income $56,403 Per Capita Income $350,621 Median Net Worth Indicator Value Difference <$15,000 5.5% - 3.8% $15,000 - $24,999 4.7% - 3.2% $25,000 - $34,999 5.3% - 3.4% $35,000 - $49,999 8.5% - 3.6% $50,000 - $74,999 13.2% - 3.4% $75,000 - $99,999 11.3% - 1.8% $100,000 - $149,999 19.7% + 2.3% $150,000 - $199,999 10.9% + 3.2% $200,000 + 21.4% + 13.5%
ESRI ZIP CODE TAPESTRY SEGMENTATION - Bryn Mawr (19010) Top Tier Breakdown: 24% Household Type: Married Couples Housing: Single Family We ve achieved our corporate career goals and can now either consult or operate our own businesses. We re married couples with older children or without children. Every home maintenance chore in our lavish homes in handled by a variety of contracted services. We can indulge ourselves in personal services at upscale salons, spas, and fitness centers, and shop at high-end retailers for anything we desire. We travel frequently, sparing no expense in taking luxury vacations or visiting our second homes in the US and overseas. Evenings and weekends are filled with opera, classical music concerts, charity dinners and shopping. We support the arts and other charities, read to expand our knowledge, and depend on internet, radio and newspapers for information. Spending time with family and a small circle of close friends is a priority. Emerald City Breakdown: 22% Household Type: Singles Housing: Single Family; Multi-Units We re young, mobile, well educated, and well employed. We re most likely to rent in low density, urban neighborhoods throughout the county. Long hours spent working and online are balanced with regular visits to the gym. We go online for professional networking, online dating, and blogging. Cell phones are essential so we can text and always stay connects. Cognizant of the environment, we buy natural, organic, or environmentally-friendly products; Whole Foods and Trader Joe s are favorite grocery stores. We re politically liberal and donate to NPR and PBS. To keep life fresh, we re eager to learn new things and to save time, we contract for house cleaning services. Music and the fine arts are major interests; we listen to music, visit art galleries and make art at home. Golden Years Breakdown: 20% Household Type: Singles Housing: Single Family; Multi-Units You ll find us in a large metro areas outside major cities scattered across the US. We re active, independent seniors who are either retired or nearing the end of our careers. Those who are still working have professional jobs. Most of us are singles or empty nesters. We re enjoying life: we stay busy with lots of interests such as travel, sports, eating out, visiting museums, attending concerts and focusing on our physical fitness and good health. We go online for everything: banking, shopping, checking investments and entertainment. We donate generously to the arts and other organizations. We read daily newspapers, particularly the Sunday edition, we have more time. We keep a landline and use our cell phone only as a convenience. TV is for news, sports and on-demand movies. $93K $78K $62K $46K MEDIAN HOUSEHOLD INCOME 93K 64K 50K 51K 41 34 27 20 34.1 MEDIAN AGE 39.2 40.7 37.6 3058 2548 2039 1529 2479 POPULATION DENSITY Number of people per square mile 3058 $31K 14 1019 $15K $0K 0 ZIP COUNTY STATE US ZIP COUNTY STATE US 7 510 0 290 89 ZIP COUNTY STATE US
For More Information Please Contact AVISON YOUNG Scott Williams, Principal D 610.276.3147 C 610.721.9912 scott.williams@avisonyoung.com Jeff Klagholz, Associate D 215.383.2687 C 610.804.5624 jeff.klazholz@avisonyoung.com avisonyoung.com 2017 Avison Young - Philadelphia LLC. All rights reserved. The information contained herein is believed to be true; it has not been verified and as such, cannot be warranted nor form any part of any future contract.