KW COMMERCIAL123 Tice Blvd.Woodcliff Lake, NJ 07677

GINA M. PALUMBOManaging Director, Broker-Assoc NY-NJ0: 201.391.2500 X522C: 201.820.5050ginapalumbo@kw.com

Verona Retail Investment

OFFERING MEMORANDUM

PRESENTED BY:

VERONA, NJ

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 2

KW COMMERCIAL

123 Tice Blvd.

Woodcliff Lake, NJ 07677

Confidentiality & Disclaimer

GINA M. PALUMBOManaging Director, Broker-Assoc NY-NJ0: 201.391.2500 X522C: 201.820.5050ginapalumbo@kw.com

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Keller Williams Valley Realty in compliance with all applicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

OFFERING MEMORANDUM

PRESENTED BY:

VERONA, NJ

PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

PROPERTY DETAILS

1PROPERTY INFORMATION269 BLOOMFIELD AVE

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 4

OFFERING SUMMARY

SALE PRICE: $600,000

NUMBER OF UNITS: 3

CAP RATE: 6.16%

NOI: $36,980

AVAILABLE SF: 100% Leased

LOT SIZE: 0.15 Acres

BUILDING SIZE: 4,000 SF

TRAFFIC COUNT: 21,633

PRICE / SF: $150.00

PROPERTY OVERVIEWGreat investment in Verona consisting of a 3-tenant retail building on BloomfieldAve. Onsite parking, high traffic count, stable businesses, market cap rate. Built-inescalations, low expenses, newer roof and central air. Property very wellmaintained. Easy purchase, great investment property. 

PROPERTY HIGHLIGHTS

Retail Investment

100% leased

Stable Businesses

Onsite parking

High traffic count

Great location

6.16% Cap Rate

Priced to sell!

Executive Summary

269 BLOOMFIELD AVE 1 | PROPERTY INFORMATION

Each Office Independently Owned and Operated kwcommercial.com 5

PROPERTY OVERVIEW

Great investment in Verona consisting of a 3-tenant retail buildingon Bloomfield Ave. Onsite parking, high traffic count, stablebusinesses, market cap rate. Built-in escalations, low expenses,newer roof and central air. Property very well maintained.

Positive cash flow from essential tenants including Facial andWellness Spa, Medical Supply Company, and Sign Company. Spaces have been beautifully renovated and occupied with stableincome. Low Landlord expenses and maintenance. Solidinvestment and being sold at a 6+% cap rate. 

LOCATION OVERVIEW

Located in the heart of Verona on busy Bloomfield Ave next toSeven-Eleven. On-site parking in front of building. Centrallylocated with close proximity to major highways including: Rts 280,80, 3, 46, and 23, and the Garden State Parkway.

Property Description

269 BLOOMFIELD AVE 1 | PROPERTY INFORMATION

Each Office Independently Owned and Operated kwcommercial.com 6

SALE PRICE $600,000

LOCATION INFORMATION

Street Address 269 Bloomfield Ave

City, State, Zip Verona, NJ 07044

County/Township Essex/Verona

Nearest Airport Newark Int'l

BUILDING INFORMATION

Building Size 4,000 SF

NOI $36,980

Cap Rate 6.16%

Price / SF $150.00

Year Built 1975

Occupancy % 100%

Tenancy Multiple

Number Of Floors 2

Average Floor Size 2,500 SF

Load Factor Yes

Construction Status Existing

PROPERTY DETAILS

Property Type Retail

Property Subtype Neighborhood Center

Lot Size 0.15 Acres

Lot Frontage 55

Lot Depth 120

Traffic Count 21,633

Traffic Count Street Bloomfield Ave

PARKING & TRANSPORTATION

Number Of Spaces 5

Parking Description Onsite parking in front of building, 5

spots.

Property Details

269 BLOOMFIELD AVE 1 | PROPERTY INFORMATION

LOCATION INFORMATION

2 | LOCATION INFORMATION

REGIONAL MAP

LOCATION MAPS

AERIAL MAP

2LOCATION INFORMATION269 BLOOMFIELD AVE

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 8

Verona, NJ 07044

Regional Map

269 BLOOMFIELD AVE 2 | LOCATION INFORMATION

Each Office Independently Owned and Operated kwcommercial.com 9

Location Maps

269 BLOOMFIELD AVE 2 | LOCATION INFORMATION

Each Office Independently Owned and Operated kwcommercial.com 10

Aerial Map

269 BLOOMFIELD AVE 2 | LOCATION INFORMATION

DEMOGRAPHICS

3 | DEMOGRAPHICS

DEMOGRAPHICS MAP & REPORT

3DEMOGRAPHICS269 BLOOMFIELD AVE

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 12

POPULATION 1 MILE 3 MILES 5 MILES

Total Population 13,984 124,345 404,804

Average age 42.6 40.1 38.9

Average age (Male) 40.7 38.3 37.5

Average age (Female) 43.6 42.0 40.2

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 5,372 46,867 151,268

# of persons per HH 2.6 2.7 2.7

Average HH income $127,412 $133,461 $101,186

Average house value $488,568 $546,903 $482,015

* Demographic data derived from 2010 US Census

Demographics Map & Report

269 BLOOMFIELD AVE 3 | DEMOGRAPHICS

FINANCIAL ANALYSIS

4 | FINANCIAL ANALYSIS

FINANCIAL SUMMARY

INCOME & EXPENSES

RENT ROLL

ADDITIONAL PHOTOS

ADDITIONAL PHOTOS

4FINANCIAL ANALYSIS269 BLOOMFIELD AVE

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 14

INVESTMENT OVERVIEW

Price $600,000

Price per SF $150.00

CAP Rate 6.2%

Cash-on-Cash Return (yr 1) 5.79 %

Total Return (yr 1) $31,070

Debt Coverage Ratio 3.39

OPERATING DATA

Gross Scheduled Income $60,600

Other Income -

Total Scheduled Income $60,600

Vacancy Cost $3,030

Gross Income $57,570

Operating Expenses $20,590

Net Operating Income $36,980

Pre-Tax Cash Flow $26,072

FINANCING DATA

Down Payment $450,000

Loan Amount $150,000

Debt Service $10,908

Debt Service Monthly $909

Principal Reduction (yr 1) $4,998

Financial Summary

269 BLOOMFIELD AVE 4 | FINANCIAL ANALYSIS

Each Office Independently Owned and Operated kwcommercial.com 15

TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

START

LEASE

END

MARKET

RENT

ANNUAL

RENT

% OF

GLA

PRICE

PER SF/YR

Supreme Ortho Fitting 1,500 $25,800 37.5 $17.20

Speranzi Facial Spa 1,000 $20,400 25.0 $20.40

O'Donnell Sign Co 1,500 $14,400 37.5 $9.60

Totals/Averages 4,000 $0 $60,600 $15.15

INCOME SUMMARY

Gross Income $57,570

Vacancy Cost $3,030

EXPENSE SUMMARY

Property Taxes 2021 $15,790Property Insurance (estimated) $2,000Snow Removal $2,800

Gross Expenses $20,590

Net Operating Income $36,980

Income & Expenses

269 BLOOMFIELD AVE 4 | FINANCIAL ANALYSIS

Each Office Independently Owned and Operated kwcommercial.com 16

TENANT

NAME

UNIT

NUMBER

UNIT

SIZE (SF)

LEASE

START

LEASE

END

MARKET

RENT

ANNUAL

RENT

% OF

GLA

PRICE

PER SF/YR

Supreme Ortho Fitting 1,500 $25,800 37.5 $17.20

Speranzi Facial Spa 1,000 $20,400 25.0 $20.40

O'Donnell Sign Co 1,500 $14,400 37.5 $9.60

Totals/Averages 4,000 $0 $60,600 $15.15

Rent Roll

269 BLOOMFIELD AVE 4 | FINANCIAL ANALYSIS

Each Office Independently Owned and Operated kwcommercial.com 17

Additional Photos

269 BLOOMFIELD AVE 4 | FINANCIAL ANALYSIS

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Additional Photos

269 BLOOMFIELD AVE 4 | FINANCIAL ANALYSIS