Lake Grove, Smithaven Mall.indd

lake grove, ny
nesconset highway
smith haven mall pad development site with income from major tenants
DEMOGRAPHICS
1 MILE
3 MILES
5 MILES
PopulaƟon
9,377
92,593
228,278
Median HHI
$102,699
$92,610
$92,953
DayƟme PopulaƟon
4,329
36,325
109,595
Land Size
6.75 acres
ExisƟng Income
$360,000 NNN (see page 2 for details)
PotenƟal Income
$400,000 NNN (ground lease)
Asking Price
$ 9,500,000
Parcel Breakdown
• 1.9 acres - Pep Boys site
• 1.6 acres - Checkers site
• 3.25 acres - Vacant (3,000 gallons of flow per day) can do 300 seat restaurant
• medical use also acceptable
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
sabreny.com
lake grove, ny
nesconset highway
Financial Analysis
NOI
$210,000
30 years - Triple Net (2012 R/E $98,654.61)
22,277 +/- square feet
1.9 acres
2005
CPI & 112 %
5 years 1st opƟon - 2023 - 2028 125.44%
5 years 2nd opƟon - 2028 - 2033 140.49%
1992
Lease Term
Building Size
Land Area
Renovated
Increases
OpƟons
Lease Commenced
Rental Income
Lease Term
$210,739 per annum
2008 - 2013 current
2013 - 2018
$253,892 per annum based on CPI +/- (2/1/2013)
$284,359 per annum based on 12%
2018 - 2023
Financial Analysis
NOI
Lease Term
Building Size
Land Area
Renovated
Increases
OpƟons
$150,000
20 years - Triple Net (2013 R/E $16,132.68)
2,084 +/- square feet
1.6 acres
New 2011
3% annual
5 years - 1st opƟon - $262,351.00
5 years - 2nd opƟon - $301,704.00
Rental Income
Lease Term
2021 - 2026
$150,000 per annum
$172,500 per annum
$198,375 per annum
2026 - 2031
$228,131 per annum
2011 - 2016
2016 - 2021
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
sabreny.com
lake grove, ny
nesconset highway
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
sabreny.com
lake grove, ny
nesconset highway
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
sabreny.com
lake grove, ny
nesconset highway
Plan A
Plan B
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
sabreny.com
lake grove, ny
nesconset highway
For More InformaƟon:
Stu Fagen| Managing Director | stu@sabreny.com | T 516 874 8070 x503
Sabre Real Estate Group, LLC
500 Old Country Road Garden City NY 11530
641 Avenue of the Americas New York NY 10011
sabreny.com
© Sabre Real Estate Group, LLC. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.