BANKRUPTCY AUCTION (SUBJECT TO BANKRUPTCY COURT APPROVAL) BID DEADLINE: DECEMBER 12, 2014 * AUCTION DATE: DECEMBER 17, 2014 MINIMUM OVERBID: $5,025,000 2080 River Road, Calverton, Suffolk County, NY 11933 Operating & Profitable Self Storage Facility 475 Unit on 6.35 Acres Additional Information Available with NDA: Monthly Financials 2010 2013 Survey Annual Financials 2010 2013 Monthly Reports from Storage Commander Current Rent Roll Title, Environmental and Property Condition Reports Property Details and Other Information Available at: or Call:
Disclaimer DISCLAIMER: Dollar Storage LLC and Jul Bet Enterprises LLC, Debtor in possession ( Debtor ), has retained GA Keen Realty Advisors, LLC ( Consultant ) as real estate broker to the Debtor for the sale of the real property located at 2080 River Road, Calverton, NY 11933. The attached information: (a) has been prepared for informational purposes only, (b) has been prepared from materials supplied by the Debtor, local municipalities and other sources deemed reliable, and, (c) is being furnished through Consultant solely for use by prospective buyers in considering their interest in acquiring the subject property. By accepting the attached data as well as any additional data from sources deemed reliable, the Debtor and/or Consultant ( Data ), the recipient acknowledges and agrees to the following: The information contained herein has been prepared to assist interested parties in making their own evaluation of the subject property and does not purport to be all inclusive or to contain all of the information that a prospective buyer may desire. In all cases, interested parties should conduct their own investigation and analysis of the subject property, conduct site inspections and scrutinize the Data. Neither the Consultant nor the Debtor has assumed responsibility for independent verification of any of the information contained herein and has not in fact in any way audited such information. The Debtor, and its employees and professional advisors, including but not limited to Consultant, legal counsel, and/or other advisors and their respective affiliates and representatives (collectively, the Professionals ) are not making nor will they make and expressly disclaim making any written or oral statements, representations, warranties, promises or guarantees, whether express, implied or by operation of law or otherwise, with respect to the subject property and with respect to the accuracy, reliability or completeness of the Data, except as may be expressly stated in a Contract executed by the Debtor. The Debtor, Consultant and its other professionals expressly disclaim any and all liability based on, or relating or pertaining to, any written or oral statements, financial information, projections, representations, warranties, promises or guarantees, whether express, implied or by operation of law or otherwise. The property is being sold AS IS, WHERE IS, with ALL FAULTS. The Debtor reserves the right to negotiate with one or more prospective buyers at any time and to enter into an agreement for the sale of the subject property without prior noticetoany recipient of this information or other prospective buyers. All offers are subject to higher and better offers and Bankruptcy Court Approval.
The Opportunity Dollar Storage 2080 River Road, Calverton, NY Operating & Profitable Storage Facility Available for sale is a 475 unit self storage facility totaling 59,820 square feet on 6.35 acres of land in the Hamlet of Calverton, Town of Riverhead, NY. Situated on the north side of River Road, the back of the property abuts Interstate 495, a/k/a the LongIsland Expressway. The property is located in close proximity to the Tanger Outlet Centeras well as the commercial corridor on Route 58 and the Village of Riverhead along route 25. There has been significant development in the Town of Riverhead over the lastfew years. Currently the facility has only 209 of the 475 units rented yet still generates positive cash flow. The facility therefore has tremendous upside potential as occupancy rates improve. Dollar Storage is a one level storage unit facility that allows tenants 24 hour 7 days a week access. Climate controlled units are available. There is an on site manager (Weekdays 8:30 am to 4:30 pm) and security cameras that run 24/7. The facility is fully fenced in, is fully lit at night, and has gated, computerized access. Dollar Storage offers vehicle and equipment services, and has supplies for purchase, including boxes and other packing and moving supplies. Property Overview Location: Size/Type: Zoning: North Side of River Road (530.58 Frontage) and I 495 aka Long Island Expressway (752.70 Frontage); Town of Riverhead, Suffolk County, New York 59,820 SF Self Storage Facility on 6.35 Acres RFC (Riverfront Corridor) Zoning Use District Parcel Info.: 0600 118 00 01 00 006 002 Occupancy : 45.8% Occupancy as of 5/1/2014
Storage Unit Breakdown as of May 1, 2014 Unit Size Total Area (Sq. Ft.) Total Units Rented Units Unit 803 540 1 0 Warehouse 4,200 1 0 5 x 5 1,075 43 10 5 x 8 40 1 1 5 x 10 4,950 99 42 5 x 15 2,775 37 12 8 x 10 320 4 3 8 x 15 120 1 1 10 x 10 11,500 115 46 10 x 15 10,350 69 26 10 x 20 12,400 62 33 10 x 25 7,750 31 25 10 x 30 3,000 10 9 10 x 40 800 1 1 TOTAL 59,820 475 209
Storage Unit Layout
Neighborhood DOLLAR $TORAGE The subject is located off of Route 25 near the interchange of the Long Island Expressway (I 495). Splish Splash waterpark sits across the highway and there is an entrance to the Tanger Outlet Center just down the road from the property. Route 25 is a local commercial roadway that turns into Main Street in the village of Riverhead. Long Island Aquarium and Exhibition Center (a/k/a Atlantis Aquarium) is located 3.9 miles east on Main Street. The next exit off of the LIE is the end of the highway and leads into County Road 58. CR 58 is a bypass that has seen significant development in the past few years. There is a new Walmart Supercenter, Costco, Lowes and Dicks Sporting Goods in addition to many other retailers that have been established in the area longer. The Town of Riverhead has had significant development and is the main gateway to the North Fork. In addition to the retail development, there has been significant medical office development in support of the expansion of the regional hospital. Riverhead is a vibrant community with tremendous opportunity. Source: Suffolk County, NY GIS
Location Maps
Property Card
Property Card
Zoning Map West of Roanoke Ave
Tax Map / GIS Source: Suffolk County, NY GIS
Tax Map / GIS Source: Suffolk County, NY GIS
Survey
Aerial Photograph Source: Suffolk County, NY GIS
Photographs
Contact Details All inquiries for additional information should be directed to: GA Keen Realty Advisors, LLC Melville Office: 1 Huntington Quadrangle Suite 2C04 Melville, NY 11747 NYC Office: Graybar Building 420 Lexington Avenue Suite 3001 New York, NY 10170 P: 646 381 9222 www.greatamerican.com/keen Matthew Bordwin Co President Craig Fox Senior Vice President Chris Mahoney Senior Vice President 646 381 9202 Direct 646 381 9250 Fax mbordwin@greatamerican.com 646 381 9203 Direct 646 381 9251 Fax cfox@greatamerican.com 646 381 9205 Direct 646 381 9241 Fax cmahoney@greatamerican.com Robert Tramantano Senior Vice President 646 381 9206 Direct 646 381 9252 Fax rtramantano@greatamerican.com Heather Milazzo Vice President 646 381 9207 Direct 646 381 9249 Fax hmilazzo@greatamerican.com