SUBJECT: LOCATION: UTILITIES:, 941 Whitehorse Mercerville Road, Hamilton Township, Mercer County, New Jersey 08610. A 20,000+ SF, professional office building is available for Sale or Lease. Whitehorse Avenue where South Olden Avenue begins; located one half mile from the interchange of Interstate 295, allowing for easy access to Routes 130 and 206, Interstate 195 and the New Jersey Turnpike. Electric, Gas, Water, Sewer, and Cable Internet access is available from the following providers: Verizon, Comcast, Optimum ZONING: TAXES: Highway Commercial (HC): The complete zoning ordinance is available upon request. The tax rate in the Township of Hamilton is $4.349 per $100.00 of assessed valuation, yielding a 2015 tax bill of $75,020.25± on Block 2443, Lot 55. IMPROVEMENTS: This building contains 19 office suites ranging in size from 660+ SF to 2,000+ SF. The building is fully leased with many suites occupied by original tenants. Suite #9 has 660+ SF with a large open area at the entrance, a small office, a half bathroom and a larger office in the rear. Suite #13 660+ SF. Professional office with a reception area and a multi-purpose room located in the rear portion of the space. Available December 1, 2016 Suite # 23 measuring 2,000+ SF and is presently configured with a reception area, storage room, kitchen and men s and ladies rooms. There is also an open area with five perimeter offices and a conference room. There is a possibility of
ASKING PRICE: $2,900,000.00 dividing the suite into two 1,000+ SF units depending on tenant fit out requirements. CHARGES: $20.00 PSF Modified Gross Suite #9 - $1,000.00 per month Suite #13 $1,000.00 per month Suite #23 $3,000.00 per month gross plus utilities (which includes real estate taxes, insurance, and CAM charges for the base year) plus utilities. The year the lease is signed shall be deemed the base year for all expenses. REMARKS: An attractive professional building with a varied long-term tenant roster including professionals, doctors, service companies, and retail users. It is conveniently located on a bus route allowing easy access to all parts of Hamilton Township, as well as the City of Trenton. Located less than one and one-half (1 ½) miles from Robert Wood Johnson University Hospital of Hamilton. The Center is owned, maintained and operated by a large local developer. This listing is made subject to errors, omissions, change of price/terms, prior sale or lease and withdrawal without notice. All references to age, square footage, lot size, income and expenses are approximate. Buyers should conduct their own independent investigations and rely only on those results. R:\Active_Listings\Crestwood_Professional_Bldg_2011\Profile\Crestwood_Professional_Profile_Letterhead_Revision_M.doc (Page 2 of 6)
EXTERIOR VIEW (Page 3 of 6)
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NET OPERATING INCOME Broker Valuation Projection - Crestwood Professional Rentable Units: 19 Income Breakdown Unit Tenant Unit Sq Ft Base Rent Additional Rent Total Crestwood Prof Various 20,000 $330,000.00 $0.00 $330,000.00 TOTAL COMMERCIAL SQ FT 20,000 Potential Gross Income (PGI) $330,000.00 - $330,000.00 Effective Gross Income (EGI) $330,000.00 Expense Breakdown Per Unit Property Taxes $73,847.00 22.38% Vacancy Allowance $16,500.00 5.00% Insurance $8,000.00 2.42% Common Area Utilities $3,240.00 0.98% Pest Control $1,020.00 0.31% Snow Removal, Lawn Care & Landscaping $12,000.00 3.64% Repairs/Maintenance $22,200.00 6.73% Water & Sewer $1,060.00 0.32% Total Expenses $137,867.00 41.78% Expense Ratio (Expenses/EGI) 41.78% Net Operating Income (NOI) $192,133.00 58.22% Capitalization Rate 6.75% Value $2,846,414.81 Rounded $2,900,000.00 (Page 6 of 6)