for sale bloomingdale plaza -...
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FOR SALE BLOOMINGDALE PLAZA
750-764 SOUTH BROADWAY, HICKSVILLE NY 11801
LOCATION: Bloomingdale Plaza—
Southwest intersection of South Broadway (Route 107) & Bloomingdale Road Hicksville, NY 11801
Section/Blok/Lot: 46/629/68
EXISTING BUILDING: +/- 23,341 square feet
STORE UNITS: 11
PROPERTY SIZE: 1.91 Acres
PARKING: 100 Parking Spaces
REAL ESTATE TAXES: +/- $212,229 per annum
YEAR BUILT: 2004
PROJECTED GROSS INCOME: $783,000
EXPENSES: $280,000
NOI: $503,000
SALE PRICE: $7,000,000 $6,500,000
CAP RATE: 7.75%
CONTACT EXCLUSIVE AGENT Tel: (516)861-3600 Fax: (516)861-3604
Neil Schorr, President (Ext.) 301 [email protected]
255 Executive Drive Plainview, New York 11803
Proud Member of
Bloomingdale Plaza is a single story corner shopping center built in 2004. It is located on the southeast corner of South Broadway (Route 107) and Bloomingdale Road Hicksville, Town of Oyster Bay. Projected Net Operating Income is $458,000 per year. Current occupancy is 82% and smaller units are in negotiation. Area tenants include: Fresenius, Catholic Health Service Urgent Care, McDonalds, Winthrop Medical Center, Davita, Lowes, 7-Eleven,Taco Bell, Chuck-E-Cheese, T-Mobile, Sprint, Western Union, Kumon Learning Center, Dunkin Donuts, Fed-ex, Walgreens, Capital One Bank, Planet Fitness, Maharaja Supermarket, Big Lots, among others.
DEMOGRAPHIC PROFILE
Category 1 Mile Radius 3 Mile Radius 5 Mile Radius
Population 16,727 168,198 377,560
Average HH Income $111,874 $123,436 $131,389
Daytime Population 19,651 135,405 369,898
BLOOMINGDALE PLAZA
1
2 3
4
5
7 6
8
9 10
11
UNIT # AVAILABLE/TENANT SIZE ADDRESS #
1 FREESNIUS DIALYSIS 8,006 SF 764
2 AVAILABLE 1,578 SF 762 B
3 EYE LEVEL LEARNING CENTER 1,100 SF 760 B
4 AVAILABLE 1,635 SF 760
5 HONEST RESTAURANT 1,890 SF 758
6 REAL PHARMACY 790 SF 756 B
7 AVAILABLE 1,035 SF 756 A
8 COOL SMILES 1,935 SF 754
9 ART STUDIO 900 SF 752 A
10 AVAILABLE 860 SF 752 B
11 CATHOLIC HEALTH SERVICES 3,612 SF 750
INCOME
Tenants Address Approx. Sq.Ft. Lease Type Lease Term Monthly Rent Annual Rent R.E. Tax CAM R.E. Tax CAM
Catholic Health Services* 750 S. Broadway 3,612 NNN 02/01/10-05/31/22 5,486.86$ 65,842.32$ 2,708.33$ 545.37$ 32,499.96$ 6,544.44$
Dinni's Art Studio 752A S.Broadway 860 N TBD 1,400.00$ 16,800.00$ 900.00$ 10,800.00$
Richer & Rivera Dental, LLC 754 S.Broadway 1,935 NNN 03/01/08-02/28/18 4,698.13$ 56,377.56$ 1,582.37$ 409.29$ 18,988.44$ 4,911.48$
Ganesh Restaurant 758 S. Broadway 1,890 Gross 09/01/16-08/31/31 6,937.88$ 83,254.56$ n/a n/a n/a n/a
ONS Corp. 760B S.Broadway 1,100 N 06/01/12-05/31/22 2,367.57$ 28,410.84$ 82.01$ n/a 984.12$ n/a
Fresenius 764 S. Broadway 8,006 NNN 5/15/15-5/14/27 13,443.27$ 161,319.24$ 5,937.19$ 1,365.63$ 71,246.23$ 16,387.60$
A Real Pharmacy, Inc. 756B S.Broadway 790 Gross 05/01/17-04/30/27 1,646.00$ 19,752.00$ 856.00$ n/a 10,272.00$ n/a
Subtotal 18,193 35,979.71$ 431,756.52$ 12,065.90$ 2,320.29$ 144,790.75$ 27,843.52$
PROJECTED
TBD 760A S.Broadway 1,635 Gross 4,768.75$ 57,225.00$ n/a n/a n/a n/a
TBD 752B S.Broadway 860 Gross 2,508.33$ 30,100.00$ n/a n/a n/a n/a
TBD 756A S.Broadway 1,035 Gross 3,018.75$ 36,225.00$ n/a n/a n/a n/a
TBD 762 S.Broadway 1,578 Gross 4,602.50$ 55,230.00$ n/a n/a n/a n/a
Subtotal (Projected) 5,108 14,898.33$ 178,780.00$
EXPENSES (05/1/2016-04/30/2017)
Annual
Real Estate Taxes 212,229.70$
Insurance 18,248.76$
Landscaping 3,399.03$
Snow Removal 4,114.98$
Water 1,628.15$
Electricity 7,188.42$
Gas 548.53$
Cable & Phone 2,181.14$ Management Fees
(3% of Gross) 18,131.72$
Maintenance & Repairs 12,106.97$
Total 279,777.40$
Effective Gross Income
(F15+I15+J15) 604,390.79$ Projected Gross Income
(F22+B42) 783,170.79$
Less: Annual Expenses (279,777.40)$
NOI 324,613.39$
Projected NOI 503,393.39$
* Indicates Tenants that pay only increase % of the real estate tax over their lease base year
South Broadway LLC
Income and Expense Schedule
Additional Rent (Monthly) Additional Rent (Annual)
Effective Gross Income: $604,390.79