OFFERING 225 WESTCHESTER AVENUE MEMORANDUM PORT …

225 WESTCHESTER AVENUEPORT CHESTER, NEW YORK

OFFERING MEMORANDUM

All information furnished herein is from sources deemed reliable. No warranty or representation is made to the accuracy thereof and it is submitted subject to errors, omissions and/or changes without notice.

Craig Benson

914-237-3400, Ext. 105

[email protected]

www.RoyalPropertiesInc.com

850 Bronx River Road, Ste. 106 I Bronxville, NY 10708

DISCLAIMERTABLE OF CONTENTS


INVESTMENT OVERVIEW

PROJECTED INCOME STATEMENT

AREA OVERVIEW

LOCATION AERIAL

DEMOGRAPHICS

ABOUT ROYAL PROPERTIES

Craig Benson

914-237-3400, Ext. 105

[email protected]

www.RoyalPropertiesInc.com

Royal Properties, Inc. (“Broker“) has been retained as the exclusive advisor and broker for this offering.

In receiving this Offering Memorandum (“Offering Memorandum“), you confirm that you have read this Confidentiality Agreementand agree to the terms. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and it doesnot purport to be necessarily accurate or all-inclusive or to contain all of the information which prospective Buyers may need ordesire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to thegeneral economy and other factors beyond the control of the Seller and therefore are subject to variation. No representation ismade by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing containedherein shall be relied on as a promise or representation as to the future performance of the property. Although the informationcontained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expectprospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and itsemployees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted fromthe Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The OfferingMemorandum does not constitute a representation that there has been no change in the business or affairs of the property or theOwner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in theOffering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspectthe property will be made available upon written request to interested and qualified prospective Buyers.

By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate ofSeller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (includingreasonable attorney fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees,officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including,without limitation, reasonable attorney’s fees and court costs which may be incurred with respect to any claims for other realestate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, throughor under Seller.

The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offersregarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have nolegal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Propertyunless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and itslegal counsel, and any conditions to the Seller’s obligation thereunder have been satisfied or waived.

The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sourcesavailable to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treatit in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum orany of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whetheror not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization ofthe Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or mannerdetrimental to the interest of the Seller or Broker.

No employee of Seller or Tenant(s) at the subject property is to be contacted without the written approval of the Broker and doingso would be a violation of this confidentiality agreement.

Broker and prospective buyers agree not to contact the tenants, their employees or customers of any business on the propertywithout prior permission from the Seller.

850 Bronx River Road, Ste. 106

Bronxville, NY 10708850 Bronx River Road, Ste. 106 I Bronxville, NY 10708All information furnished herein is from sources deemed reliable. No warranty or representation is made to the accuracy thereof and it is submitted subject to errors, omissions and/or changes without notice.


INVESTMENT OVERVIEW



Bronxville, NY 10708

OFFERING SPECIFICATIONS

PRICE $2,800,000

PROJECTED CAP RATE 9.79%

PROJECTED NOI $274,017

SQUARE FOOTAGE 23,169

YEAR BUILT 1935

LOT SIZE 0.23 Acres

TAXES $75,933

PROPERTY23,169 square foot four-story mixed-use multi-tenanted building in aprime Westchester County location.

LOCATIONSituated on one of the Main Shopping Corridors in Port Chester.

PARKINGStreet & Public Parking

ADDITIONAL:• Entire Building can be delivered vacant• Within Walking Distance to Metro North Train Station• Municipal Parking on the side of the building plus ample street

parking• 4-Stop Passenger Elevator• Fully Fixtured Restaurant Available• Building is centrally heated by gas fired boiler• Each space has a separate meter for electric and gas with its own

thermostat

YEAR BUILT1935

AREA DETAILSNeighboring Retailers include Capitol Theather, Tarry Lodge, KneadedBread, Bed Bath & Beyond, Tarry Market, Bartaco, Q Restaurant & Bar,Sonora Restaurant, Costco, Super Stop & Shop, Marshalls, T-Mobile,Chase Bank, Buffalo Wild Wings, Michael’s, Walgreens and many more

TRAFFIC COUNTS18,341 Cars Per Day Along Westchester Avenue

Craig Benson

914-237-3400, Ext. 105

[email protected]

www.RoyalPropertiesInc.com850 Bronx River Road, Ste. 106 I Bronxville, NY 10708All information furnished herein is from sources deemed reliable. No warranty or representation is made to the accuracy thereof and it is submitted subject to errors, omissions and/or changes without notice.


PROJECTED INCOME

STATEMENT




Craig Benson

914-237-3400, Ext. 105

[email protected]

www.RoyalPropertiesInc.com850 Bronx River Road, Ste. 106 I Bronxville, NY 10708

ROOM # TENANT SF ANNUAL RENT

RestaurantBasement

Vacant 6,0002,000

$ 120,000.00

204 – 205 Vacant 734 $ 13,212.00

206 PokoManagement

564 $10,152.00

207 Vacant 417 $ 7,506.00

208-216 Vacant 3,940 $ 70,920.00

301 Owner Occupied* 185 $ 3,330.00

302 Owner Occupied* 240 $ 4,320.00

303 – 304 Vacant 810 $ 14,580.00

305 Exeplex, Inc 308 $ 5,520.00

306, 307, 308, 309 Owner Occupied* 2,363 $ 42,534.00

310 Vacant 952 $ 17,136.00

311 (Does not include Conf. Room) Vacant 1,515 $ 27,270.00

311 (Conf. Room) Vacant 327 $ 5,886.00

312 Tax Management 326 $ 14,100.00

401 – 402, 403a, 403b, 451, Attic Room

Vacant 2,488 $44,784.00

TOTAL 23,169 $401,250.00

Projected IncomeTYPE AMOUNT

Con Edison – Gas & Electric $18,000.00

Water $4,800.00

Insurance - Property $6,000.00

Insurance - Liability $7,500.00

Repairs & Maintenance $5,000.00

Management $10,000.00

Real Estate Taxes $75,933.00

TOTAL $127,233.00

Projected Expenses

Projected NOI: $274,017

Projected CAP Rate: 9.79%

*Delivered Vacant



AREAOVERVIEW




PORT CHESTER, NEW YORK

Port Chester, New York is known as “The Restaurant and EntertainmentCapital of Westchester County.” Conveniently located at the intersection ofI-287 and I-95, less than 10 minutes from the Westchester County Airport,and featuring a Metro North Train Station (45 minutes from DowntownManhattan) and access to Long Island Sound. A Bee-Line bus stop is alsolocated within a few steps of the building. Port Chester is surrounded bycommunities such as Greenwich in Connecticut and Rye, Rye Brook,Harrison and Purchase in NY. Port Chester rests at a bustling crossroadswith a thriving downtown waterfront featuring some of the bestrestaurants and entertainment venues in the Tri-State area.

As of the census of 2010, there were 28,967 people, 9,240 households and6,348 families residing in the village. In the city the population was spreadout with 22.6% under the age of 18, 9.6% from 18 to 24, 34.2% from 25 to44, 22.7% from 45 to 64, and 10.6% who were 65 years of age or older.The median age was 34.4 years.

According to the United States Census Bureau, the city of Port Chester hasa total area of 2.5 square miles, of which 2.4 square miles is land and 0.1square miles is water.

Craig Benson

914-237-3400, Ext. 105

[email protected]


RYE RIDGE SHOPPING CENTER

WASHINGTON PARK PLAZATHE WATERFRONT AT

PORT CHESTER

PORT CHESTERSTATION coals

SITE

225 WESTCHESTER AVENUEPORT CHESTER, NEW YORKLOCATION

AERIAL




Craig Benson

914-237-3400, Ext. 105

[email protected]


225 WESTCHESTER AVENUEPORT CHESTER, NEW YORKDEMOGRAPHICS




1 mi. 3 mi. 5 mi.

PO

PU

LA

TIO

N

2017 Estimated Population 34,051 75,589 144,404

2022 Projected Population 35,732 78,698 149,231

2010 Census Population 33,177 73,329 140,076

2000 Census Population 31,740 71,541 134,118

Projected Annual Growth 2017 to 2022 1.0% 0.8% 0.7%

2017 Median Age 35.9 39.8 40.6

HO

USE

HO

LD

S

2017 Estimated Households 11,171 26,991 50,655

2022 Projected Households 11,654 28,122 52,408

2010 Census Households 11,011 26,352 49,500

2000 Census Households 11,170 26,432 49,532

Projected Annual Growth 2017 to 2022 0.9% 0.8% 0.7%

RA

CE

& E

TH

NIC

ITY 2017 Estimated White 61.6% 73.9% 77.6%

2017 Estimated Black or African American 7.3% 5.5% 5.1%

2017 Estimated Asian or Pacific Islander 3.4% 5.5% 6.6%

2017 Estimated American Indian or Native Alaskan 0.8% 0.4% 0.3%

2017 Estimated Other Races 22.1% 11.5% 7.6%

2017 Estimated Hispanic 55.3% 31.8% 23.0%

INC

OM

E

2017 Estimated Average Household Income $91,562 $180,332 $196,520

2017 Estimated Median Household Income $72,123 $115,203 $128,895

2017 Estimated Per Capita Income $30,149 $64,474 $69,165

ED

UC

AT

ION

(A

GE

25

+) 2017 Estimated Elementary (Grade Level 0 to 8) 20.5% 10.5% 7.4%

2017 Estimated Some High School (Grade Level 9 to 11) 8.1% 5.1% 4.3%

2017 Estimated High School Graduate 27.0% 21.3% 19.3%

2017 Estimated Some College 15.4% 12.0% 11.6%

2017 Estimated Associates Degree Only 4.5% 4.6% 4.7%

2017 Estimated Bachelors Degree Only 15.7% 26.3% 28.0%

2017 Estimated Graduate Degree 8.8% 20.2% 24.8%

BU

SIN

ESS

2017 Estimated Total Businesses 1,905 6,549 10,498

2017 Estimated Total Employees 14,103 63,501 107,967

2017 Estimated Employee Population per Business 7.4 9.7 10.3

2017 Estimated Residential Population per Business 17.9 11.5 13.8

Craig Benson

914-237-3400, Ext. 105

[email protected]

www.RoyalPropertiesInc.com850 Bronx River Road, Ste. 106 I Bronxville, NY 10708


ROYAL PROPERTIES, INC.




ABOUTUS

Royal Properties, Inc. is a full service brokerage and consulting company providing real

estate solutions for landlords and retailers throughout New York, New Jersey and

Connecticut. Through constant market analysis, current trend awareness and in-depth

communication with our clients, our management team has successfully completed

numerous sales/lease transactions resulting in millions of dollars in sales, savings and

profits for our clients. The Royal Properties management team has years of diversified

experience in retail/office leasing, shopping center ownership, property management

and actual hands-on retail store ownership.

Our 3 Areas of Expertise Are:

• Landlord Representation

• Tenant Representation

• Investment Sales

Over the years, we have successfully assisted landlords and retailers in the evaluation of

new markets and to assist in the development of strategic plans for market

entry/expansion. With our entrepreneurial spirit, we have the ability to respond quickly

and efficiently to our customers’ needs. Our leasing strategy continually evolves as new

and exciting ideas reach the marketplace. Our success has been the direct result of

team effort and attention to detail. We understand the importance of each and every

transaction we are involved with and therefore, act with persistence, dedication,

patience and confidence. Our key objective is to provide high-quality real estate

services to help our clients achieve their short and long-term goals.

R O Y A L

PR

O

P E RT

IE

S

Craig Benson

914-237-3400, Ext. 105

[email protected]


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