500 MAMARONECK AVENUE

Transcription

1 WESTCHESTER RETAIL INVESTMENT OPPORTUNITY WHITE PLAINS NEW YORK

2 INVESTMENT OPPORTUNITY HAS BEEN EXCLUSIVELY RETAINED FOR THE SALE OF THE RETAIL BUILDING AT. TAX MAP DEKALB AVENUE 500 Mamaroneck Avenue is a 9,050-SF multi-tenanted retail property located in White Plains, NY. Situated on the southeast corner of Mamaroneck Avenue and Shapham Place, the property features approximately 180 FT of wraparound frontage and excellent co-tenancy in a densely populated suburban area. The retail units are currently occupied by Bank of America, Dunne's Pub, and Hilda Demirjian Laser and Spa. MAMARONECK AVENUE BLOOMINGDALE ROAD PROPERTY SNAPSHOT PROPERTY ADDRESS LOCATION 500 Mamaroneck Avenue, White Plains, NY Southeast corner of Mamaroneck Avenue and Shapham Place SHAPHAM PLACE PARCEL SBL TAX ID FRONTAGE 180 FT INVESTMENT HIGHLIGHTS Fully stabilized retail asset located within one mile of Westchester's top malls - The Westchester and Galleria at White Plains, providing excellent co-tenancy 180 FT of wraparound frontage on architecturally pleasing corner GROUND FLOOR 9,050 SF 1.5 miles from the White Plains Metro North Station RE TAXES (17/18) $89,486 NEIGHBORS Chase, Citibank, CVS/pharmacy, Il Forno, Mobil, True Value Hardware, Western Union, 16 Handles, Galleria Mall at White Plains and The Westchester

3 INVESTMENT OPPORTUNITY GROUND FLOOR MAMARONECK AVENUE FRONTAGE 18 0F T MAMAR ONECK AVENU E HILDA DEMIRJIAN LASER & SPA SHAPH AM PLACE SHAPHAM PLACE FRONTAGE TOTAL SIZE 9,050 SF DUNNE'S PUB

4 INVESTMENT OPPORTUNITY CASH FLOW RENT ROLL CALENDAR YEAR SQUARE FOOTAGE LEASE TERM ANNUAL INCREASE RE TAX BASE YEAR RE TAX SHARE 2017 RENT POTENTIAL GROSS REVENUE Gross Income Bank of America $314,832 $322,703 $330,770 Bank of America Hilda Demirjian Laser & Spa 4,600 SF 2,500 SF 2/13/2007-2/28/2022 6/14/2011-8/31/ % % $316, % % $76,512 Hilda Demirjian Laser & Spa $77,277 $79,596 $81,983 Dunne's Pub $69,615 $71,703 $73,855 TOTAL INCOME $461,724 $474,002 $486,608 Reimbursements Real Estate Taxes Bank of America $27,931 $29,730 $31,582 Dunne's Pub 1,950 SF 5/1/2016-4/30/ % % $70,298 TOTAL LEASED 9,050 SF $462,927 *Bank of America tax escalation includes all property tax increases atttributable to their improvements OPTIONS Bank of America - One five year option at the greater of $348, or 95% of FMV Hilda Demirjian Laser & Spa $1,559 $2,096 $2,649 JWD Bar & Restaurant $0 $537 $1,090 Total Reimbursements $29,490 $32,362 $35,321 TOTAL GROSS INCOME $491,214 $506,364 $521,929 Operating Expenses Insurance $4,930 $5,077 $5,230 Maintenance & Repairs $6,856 $7,061 $7,273 RE Tax $89,486 $92,170 $94,935 Water/Sewer $4,118 $4,241 $4,368 TOTAL OPERATING EXPENSES $105,388 $108,550 $111,807 NET OPERATING INCOME $385,825 $397,814 $410,122

5 INVESTMENT OPPORTUNITY AREA RETAIL GALLERIA AT WHITE PLAINS MAIN STREET CITY CENTER AT WHITE PLAINS UV 22 UV 119 THE WESTCHESTER 287 UV 119 CITY CENTER AT WHITE PLAINS BRONX RIVER PARKWAY GALLERIA AT WHITE PLAINS Aeropostale Aldo American Eagle Outfitters At&t Bath & Body Works Champs Sports Dunkin Donuts Forever 21 Gamestop Gnc H&m Kay Jewelers Lenscrafters Macys Old Navy Pacsun Sears Subway The Children s Place Victoria s Secret FAIRFIELD ST S LEXINGTON AVE EAST POST ROAD WHITE PLAINS HOSPITAL Bank Of America Barnes & Noble Blake Pizza Buffalo Wild Wings Capital One Showcase Cinema Coldstone Creamery Morton s Nordstrom Rack Shoprite Target Toys R Us White Plains Performing Arts Center MAMARONECK AVENUE RUTHERFORD AVENUE LIVINGSTON AVENUE DOYER AVENUE WALLER AVENUE CARHART AVENUE SOUTH BROADWAY UV 125 DEKALB AVENUE EDGEWOOD STREET HALE AVENUE BROOKFIELD PLACE THE WESTCHESTER Anthropologie Apple Aritzia Bcbg Max Azria Bo Concept Brooks Brothers Burberry Coach Cole Haan Crate & Barrel David Yurman Eileen Fisher Free People Gap Gucci Hobbs London Hugo Boss J. Crew Janie And Jack Kate Spade Kiehls L occitane Louis Vuitton Lululemon Athletica Madewell Michael Kors Neiman Marcus Nordstrom Papyrus Pottery Barn Rebeca Taylor Stuart Weitzman Sur La Table Tesla The North Face Theory Tiffany & Co. Tory Burch Tumi Ugg Australia Under Armour Van Cleef & Arpels Vince Williams Sonoma UV 127 PAYNE WHITNEY WESTCHESTER SAINT AGNES HOSPITAL LINDA AVENUE Dunne s Pub Hilda Demirjian Laser & Spa BRYANT AVENUE FOR MORE INFORMATION PLEASE CONTACT BRIAN SEGALL Vice President bsegall@rkf.com GEORGE MARTINECZ Associate gmartinecz@rkf.com