115 montauk highway offering memorandum
TRANSCRIPT
115 Montauk Highway
Lufker Airport
Offered Exclusively By:
This Exclusive Offering Memorandum prepared by Nestseekers International is solely for the use of prospective purchasers, (each a “Purchaser”) of the property. Neither Advisor nor the owner of the Property (“Owner”) makes any representation or warranty, express or implied, as to the completeness or the accuracy of the material contained in the Exclusive Offering Memorandum.
LIMITING CONDITIONS
OFFERING MEMORANDUM
For More Information Contact:
Milan Cheeks
Nestseekers International
118 Main Street, Westhampton Beach NY, 11978
Tel: (631) 578-4338
Property Informaton Property contains 29.83 Acres with 24.58 zoned R1 Residential & 5.25 zoned J-2 Commercial.Currently an active airport. Has potential plans for Subdivision of 1 Acre Zoning, Hanger Community, or Condo Development.
Address: 115 Montauk Highway, East Moriches NY, 11940
Parcel Id #: S0200-684-00-05-00-001-000- (2.14 Acres)
S0200-721-00-05-00-006-001- (20.3 Acres)
S0200-721-00-05-00-007-000- (0.5 Acres)
S0200-684-00-05-00-004-000- (0.31 Acres)
S0200-721-00-05-00-005-017- (1.33 Acres)
S0200-721-00-05-00-008-000- (5.25 Acres)
COMMERCIAL TRADE AREA REPORT
East Moriches, NY 11940
Criteria Used for Analysis
Income:Median Household Income
Age:Median Age
Population Stats:Total Population
Segmentation:1st Dominant Segment
$99,111 45.0 5,425 Savvy SuburbanitesConsumer SegmentationLife Mode UrbanizationWhat are thepeople like thatlive in this area?
Affluent EstatesEstablished wealth--educated, well-travelled marriedcouples
Where do peoplelike this usuallylive?
Suburban PeripheryAffluence in the suburbs, married couple-families, longercommutes
Top TapestrySegments
SavvySuburbanites Pleasantville Golden Years
% of Households 800 (39.9%) 642 (32.0%) 566 (28.2%)
% of East Moriches 800 (39.7%) 642 (31.9%) 571 (28.4%)
Lifestyle Group Affluent Estates Upscale Avenues Senior Styles
Urbanization Group Suburban Periphery Suburban Periphery Suburban Periphery
Residence Type Single Family Single Family Multi-Units; SingleFamily
Household Type Married Couples Married Couples Singles
Average Household Size 2.83 2.86 2.05
Median Age 44.1 41.9 51
Diversity Index 33.2 58.1 40.6
Median Household Income $104,000 $85,000 $61,000
Median Net Worth $502,000 $285,000 $140,000
Median Home Value $311,000 $31,200 $283,000
Homeownership 91 % 83.6 % 63.7 %
Employment Professional orManagement
Professional orManagement
Professional or Services
Education College Degree Some College orCollege Degree
College Degree
Preferred Activities Enjoy good food,wine. DIY gardening,home remodeling.
Enjoy outdoorgardening. Go to thebeach, theme parks,museums.
Travel overseasfrequently. Shop, paybills, track investmentsonline.
Financial Carry first, secondmortgages
Invest conservatively Manage portfolios ofCDs, stocks
Media Shop, bank online Have bundled services(TV/Internet/phone)
Watch cable TV; readnewspapers
Vehicle Prefer late-model SUVs,minivans, stationwagons
Own/Lease importedSUV
Prefer late-model vehicle
Who We Are
Savvy Suburbanites residents are welleducated, well read and well capitalized.Families include empty nesters and emptynester wannabes, who still have adultchildren at home. Located in olderneighborhoods outside the urban core, theirsuburban lifestyle includes homeremodeling and gardening plus the activepursuit of sports and exercise. They enjoygood food and wine, plus the amenities ofthe city's cultural events.
Our NeighborhoodEstablished neighborhoods (most built between1970 and 1990) found in the suburban peripheryof large metropolitan markets.Married couples with no children or older children;average household size is 2.83.91% owner occupied; 71% mortgaged.Primarily single-family homes, with a medianvalue of $311,000.Low vacancy rate at 4.5%.
Socioeconomic TraitsEducation: 48.1% college graduates; 76.1% withsome college education.Low unemployment at 5.8%; higher labor forceparticipation rate at 68.5% with proportionatelymore two-worker households at 65.4%.Well-connected consumers that appreciatetechnology and make liberal use of it foreverything from shopping and banking to stayingcurrent and communicating.Informed shoppers that do their research prior topurchasing and focus on quality.
Market ProfileResidents prefer late model, family-orientedvehicles: SUVs, minivans, and station wagons.Gardening and home remodeling are priorities,usually DIY. Riding mowers and power tools arepopular, although they also hire contractors forthe heavy lifting.There is extensive use of housekeeping andpersonal care services.Foodies: They like to cook and prefer natural ororganic products.These investors are financially active, using anumber of resources for informed investing. Theyare not afraid of debt; many households carry firstand second mortgages, plus home equity creditlines.Physically fit, residents actively pursue a numberof sports, from skiing to golf, and invest heavily insports gear and exercise equipment.
An overview of who makes up this segment across the United States
This is the
#1dominant segmentfor this area
In this area
39.9%of households fallinto this segment
In the United States
3.0%of households fallinto this segment
About this segment
Savvy Suburbanites
Who We Are
Prosperous domesticity best describes thesettled denizens of Pleasantville. Situatedprincipally in older housing in suburbanareas in the Northeast (especially in NewYork and New Jersey) and secondarily inthe West (especially in California), theseslightly older couples move less than anyother market. Many couples have alreadytransitioned to empty nesters; many are stillhome to adult children. Families own older,single-family homes and maintain theirstandard of living with dual incomes. Theseconsumers have higher incomes and homevalues and much higher net worth. Olderhomes require upkeep; home improvementand remodeling projects are a priority--preferably done by contractors. Residentsspend their spare time participating in avariety of sports or watching movies. Theyshop online and in a variety of stores, fromupscale to discount, and use the Internetlargely for financial purposes.
Our NeighborhoodSuburban periphery of large metropolitan areas,primarily in Middle Atlantic or Pacific states.Most homes owned (and mortgaged).Households composed of older married-couplefamilies, more without children under 18, butmany with children over 18 years.Older, single-family homes: two-thirds built before1970, close to half from 1950 to 1969.One of the lowest percentages of vacant housingunits at 4.7%.Suburban households with 1 or 2 vehicles and alonger travel time to work.
Socioeconomic TraitsEducation: 64% college educated, 34% with abachelor's degree or higher.Low unemployment at 7.8%; higher labor forceparticipation rate at 67%; higher proportion ofHHs with 2 or more workers.Many professionals in finance,information/technology or management.Median household income denotes affluence, withincome primarily from salaries, but also frominvestments or Social Security and retirementincome.Not cost-conscious, these consumers willing tospend more for quality and brands they like.Prefer fashion that is classic and timeless asopposed to trendy.Use all types of media equally (newspapers,magazines, radio, Internet, TV).
Market ProfilePrefer imported SUVs, serviced by a gas stationor car dealer.Invest in conservative securities and contribute tocharities.Work on home improvement and remodelingprojects, but also hire contractors.Have bundled services (TV/Internet/phone).Access the Internet via fiber optics or cablemodem, on a newer computer, to pay bills, makepurchases and track investments.Subscribe to premium channels (HBO, Showtimeor Starz) and use video-on-demand to watch TVshows and movies.Enjoy outdoor gardening, going to the beach,visiting theme parks, frequenting museums andattending rock concerts.
An overview of who makes up this segment across the United States
This is the
#2dominant segmentfor this area
In this area
32.0%of households fallinto this segment
In the United States
2.2%of households fallinto this segment
About this segment
Pleasantville
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Who We Are
Golden Years residents are independent,active seniors nearing the end of theircareers or already in retirement. Thismarket is primarily singles living alone orempty nesters. Those still active in the laborforce are employed in professionaloccupations; however, these consumersare actively pursuing a variety of leisureinterests--travel, sports, dining out,museums and concerts. They are involved,focused on physical fitness and enjoyingtheir lives. This market is smaller, butgrowing, and financially secure.
Our NeighborhoodThis older market has a median age of 51 yearsand a disproportionate share (nearly 30%) ofresidents aged 65 years or older.Single-person households (over 40%) andmarried-couple families with no children (one-third) dominate these neighborhoods; averagehousehold size is low at 2.05.Most of the housing was built after 1970;approximately 43% of householders live in single-family homes and 42% in multi-unit dwellings.These neighborhoods are found in largemetropolitan areas, outside central cities,scattered across the U.S.
Socioeconomic TraitsGolden Years residents are well educated--20%have graduate or professional degrees, 26% havebachelor's degrees, and 26% have some collegecredits.Unemployment is low at 7%, but so is labor forceparticipation at 55%, due to residents reachingretirement.Median household income is higher in thismarket, more than $61,000. Although wages stillprovide income to 2 out of 3 households, earnedincome is available from investments, SocialSecurity benefits and retirement income.These consumers are well connected: Internetaccess is used for everything from shopping orpaying bills to monitoring investments andentertainment.They are generous supporters of the arts andcharitable organizations.They keep their landlines and view cell phonesmore as a convenience.
Market ProfileAvid readers, they regularly read dailynewspapers, particularly the Sunday edition.They subscribe to cable TV; news and sportsprograms are popular as well as on-demandmovies.They use professional services to maintain theirhomes inside and out and minimize their chores.Leisure time is spent on sports (tennis, golf,boating and fishing) or simple exercise likewalking.Good health is a priority; they believe in healthyeating, coupled with vitamins and dietarysupplements.Active social lives include travel, especiallyabroad, plus going to concerts and museums.Residents maintain actively managed financialportfolios that include a range of instrumentssuch as common stock and certificates ofdeposit (more than six months).
An overview of who makes up this segment across the United States
This is the
#3dominant segmentfor this area
In this area
28.2%of households fallinto this segment
In the United States
1.3%of households fallinto this segment
About this segment
Golden Years
20142019 (Projected)
Total PopulationThis chart shows the total population in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Population DensityThis chart shows the number of people persquare mile in an area, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Population Change Since 2000This chart shows the percentage change inarea's population from 2000 to 2014,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Average Household SizeThis chart shows the average householdsize in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
East Moriches, NY 11940: Population Comparison
20142019 (Projected)
Population Living in FamilyHouseholdsThis chart shows the percentage of anarea’s population that lives in a householdwith one or more individuals related bybirth, marriage or adoption, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Women 2014Men 2014Women 2019 (Projected)Men 2019 (Projected)
Female / Male RatioThis chart shows the ratio of females tomales in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Median AgeThis chart shows the median age in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Population by AgeThis chart breaks down the population of anarea by age group.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
East Moriches, NY 11940: Age Comparison
East Moriches, NY 11940
MarriedUnmarried
Married / Unmarried AdultsRatioThis chart shows the ratio of married tounmarried adults in an area, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
MarriedThis chart shows the number of people inan area who are married, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Never MarriedThis chart shows the number of people inan area who have never been married,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
WidowedThis chart shows the number of people inan area who are widowed, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
DivorcedThis chart shows the number of people inan area who are divorced, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
East Moriches, NY 11940: Marital Status Comparison
20142019 (Projected)
Average Household IncomeThis chart shows the average householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Median Household IncomeThis chart shows the median householdincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
20142019 (Projected)
Per Capita IncomeThis chart shows per capita income in anarea, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Average Disposable IncomeThis chart shows the average disposableincome in an area, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Unemployment RateThis chart shows the unemployment trendin the area of your search. Theunemployment rate is an important driverbehind the housing market.Data Source: Bureau of Labor Statistics viaEsri, 2014Update Frequency: Annually
East Moriches, NY 11940: Economic Comparison
Employment Count byIndustryThis chart shows industries in an area andthe number of people employed in eachcategory.Data Source: Bureau of Labor Statistics viaEsri, 2014Update Frequency: Annually
Less than 9th GradeThis chart shows the percentage of peoplein an area who have less than a ninth gradeeducation, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
High School GEDThis chart shows the percentage of peoplein an area whose highest educationalachievement is passing a high school GEDtest, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
High School GraduateThis chart shows the percentage of peoplein an area whose highest educationalachievement is high school, compared withother geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Some CollegeThis chart shows the percentage of peoplein an area whose highest educationalachievement is some college, withoutreceiving a degree, compared with othergeographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Associate DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is an associate degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
East Moriches, NY 11940: Education Comparison
Bachelor's DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is a bachelor's degree,compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Grad/Professional DegreeThis chart shows the percentage of peoplein an area whose highest educationalachievement is a graduate or professionaldegree, compared with other geographies.Data Source: U.S. Census AmericanCommunity Survey via Esri, 2014Update Frequency: Annually
Median Estimated Home ValueThis chart displays property estimates foran area and a subject property, where onehas been selected. Estimated home valuesare generated by a valuation model and arenot formal appraisals.Data Source: Valuation calculations basedon public records and MLS sources wherelicensedUpdate Frequency: Monthly
12-Month Change in MedianEstimated Home ValueThis chart shows the 12-month change inthe estimated value of all homes in thisarea, the county and the state. Estimatedhome values are generated by a valuationmodel and are not formal appraisals.Data Source: Valuation calculations basedon public records and MLS sources wherelicensedUpdate Frequency: Monthly
Median Listing PriceThis chart displays the median listing pricefor homes in this area, the county and thestate.Data Source: On- and off-market listingssourcesUpdate Frequency: Monthly
12-Month Change in MedianListing PriceThis chart displays the 12-month change inthe median listing price of homes in thisarea, and compares it to the county andstate.Data Source: On- and off-market listingssourcesUpdate Frequency: Monthly
East Moriches, NY 11940: Home Value Comparison
Best Businesses
This chart shows the types of businesses that consumers are leaving an area to find. The business types represented by blue bars are relatively scarce in the area, soconsumers go elsewhere to have their needs met. The orange business types are relatively plentiful in the area, meaning there are existing competitors for the dollars thatconsumers spend in these categories.Data Source: Retail Marketplace via Esri, 2014Update Frequency: Annually
Indexed Values From -100 to 100
Exterior DetailsSite Influence Waterfrond-BeachLot Size - Square Feet 884268 sq ftLot Size - Acres 20.30 ac
Property Facts Public Facts Listing Facts
Property Type Office –Property Subtype Store/Office (mixed use) –Number of Buildings 0 –Lot Size 20.3 acres –Lot Dimensions 20.30 AC –
Extended Property Facts
This report contains data and information that is publicly available and/or licensed from third parties and is provided toyou on an "as is" and "as available" basis. The information is not verified or guaranteed. Neither this report nor theestimated value of a property is an appraisal of the property. Any valuation shown in this report has been generated byuse of proprietary computer software that assembles publicly available property records and certain proprietary data toarrive at an approximate estimate of a property's value. RPR and its information providers shall not be liable for any claimor loss resulting from the content of, or errors or omissions in, information contained in this report.
Date Improvements Land Total Tax2014 $2,475 $2,400 $4,875 –2013 $2,475 $2,400 $4,875 –2012 $2,475 $2,400 $4,875 –2011 $2,475 $2,400 $4,875 –2009 $2,475 $3,900 $6,375 –2008 – $3,900 $3,900 –
115 Montauk Hwy, East Moriches, NY 11940
Public Facts
Legal DescriptionParcel Number: Zoning: Census Tract: Abbreviated Description: City/Municipality/Township:0200-721.00-05.00-006.001 – 361031594.062043 LOT:6.1 BLK:5 SEC:721
DIST:472200CITY/MUNI/TWP:BROOKHAVENSUBD:EAST MORICHES N CR 91S-34-29 E SPADARO S SR 27A WOLISH & ORS MAP REF:MAP8500000
East Moriches, NY 11940
Assessed Values
Maps
. .
20.3 Acres 5.25 Acres Commercial
2.14 Acres
1.33 Acres 0.31 Acres 0.5 Acres