OFFERING MEMORANDUM
Temple B’nai Abraham—127 East Main St Meriden, CT +/- 17,171 SF Synagogue on +/- 1.12 Acres Offering Price: $1,100,000
Temple B’nai Abraham
Exclusive Offering Memorandum
Exclusively Presented by:
Chozick Realty, Inc. 100 Wells Street STE 1D Hartford, CT 06103 (860) 247-7400 phone (860) 247-7401 fax www.chozickrealty.com
All information contained herein is from sources deemed reliable; however, no representations or warranties are made as to accuracy or completeness and is provided subject to errors, omission, change, prior sale and withdrawal from market, all without notice. This information is confidential and is provided strictly as background information for the sole use of the prospective purchaser and its representatives. All interested parties are encouraged to make their own independent review and investigation of the property.
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Temple B’nai Abraham
Confidentiality Agreement
The information contained in this offering memorandum is offered to you under the following terms. Your acceptance of this offering memorandum shall be deemed to be acceptance of the terms herein. Should you not agree to these terms, please return this offering memorandum to Chozick Realty, Inc. This information is provided to you for your sole use and the use of your partners, investors and advisors in assisting you with the review and potential purchase of the property. You agree to keep this information confidential and shall instruct any others that you must share this information with of this agreement and ensure that they too will be bound by these terms. This offering memorandum is intended to provide an overview of the property offering. While information is from sources deemed reliable, it is offered subject to errors, omissions, change, prior rental or sale, or withdrawal from the market, all without notice. No representations or warranties of any kind are made by Chozick Realty, Inc. or the Owner. You represent that you are a qualified and knowledgeable investor and that any and all review, investigation or confirmation of this information and property related information both physical and financial is your sole responsibility. While Buyer Broker participation is welcomed, neither Chozick Realty, Inc. nor the owner will pay any referral, brokerage, finder or other fee to another Broker or Finder. Any fee due to any broker or finder other than Chozick Realty, Inc. shall be paid by Buyer if you so choice to engage a buyer’s broker or finder.
3 Introduction
Chozick Realty, Inc. is pleased to present the Temple B’nai Abraham Synagogue offering a +/- 17,171 SF synagogue located within Downtown Meriden, CT
OPPORTUNITY Chozick Realty, Inc. is pleased to offer an opportunity to own the beautiful and historic Temple B’nai Abraham Synagogue.
Temple B’nai Synagogue is located on East Main Street in an area of other houses of worship as well as being directly across the street from the Meriden City Hall. This location is within the Transit Oriented District of Meriden and is within walking distance to the Meriden Transit Center, served by Amtrak on the New Haven-Springfield line.
There is a curb cut to a +/- 50 spot parking lot located behind Offering Summary the building on Pleasant Street. The first floor of the temple is made up of the Rabbi’s private office, secretarial offices, Price $1,100,000 sanctuary, large stage hall/cafeteria, one large commercial Total Square Footage +/- 17,171 kitchen and one small kitchen, library/meeting room, storage Year Built 1951 rooms, bathrooms, gift shop & one classroom. The full basement includes two restrooms, five classrooms and a Acreage +/- 1.12 storage area. The furnace room houses the hot water gas fired Includes Hall, Sanctuary, Classrooms, Ofcs & Library boiler with oil backup as well as air conditioning system.
Chozick Realty, Inc. (860) 247-7400 [email protected] 4 Temple B’nai Abraham
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9 Temple B’nai Abraham INVESTMENT HIGHLIGHTS
Temple B’nai Abraham Synagogue in Meriden
Frontage located on East Main Street, extremely high visibility
Beautiful Temple includes Rabbi’s private office, secretarial offices, sanctuary, large stage hall/cafeteria, one large commercial kitchen and one small kitchen, library/meeting room, storage rooms, bathrooms, gift shop & multiple
classrooms
Property built in 1951
+/- 1.12 acres of land
Ample on site parking for +/- 50 cars
MERIDEN HIGHLIGHTS
City within New Haven County, located halfway between New Haven and Hartford
Population of +/- 60,868 people as of 2010
Midway between Boston and New York
Serviced by Amtrak rail service, Bradley International Airport and Interstates 91 & 691 along with the Wilbur Cross Parkway (CT Route 15) and US Route 5
Connected to cities of New Haven, Hartford & Springfield, MA via regional rail service provided by Amtrak
CT Dept of Transportation plans to add a new commuter service called the Hartford Line in collaboration with Amtrak and the federal government scheduled to begin operation May 2018
Chozick Realty, Inc. (860) 247-7400 [email protected] 10 Temple B’nai Abraham
Address 127 East Main Street
Meriden, CT
Total SF 17,171 SF
Year Built 1951
Construction Wood frame—Brick Exterior
Roof Flat roof with rubber membrane
Ceiling/Walls Plaster/Drop/Tile
Bathrooms Five (5) bathrooms
Doors Solid core entry doors
Heating Hot water gas fired boiler with oil backup
AC Central air conditioning throughout the main level
Water/Sewer Municipal
Available Utilities Electric, High-Speed Internet, Cable Television, Telephone, Gas
Curb Cut Located on Pleasant Street
Site +/-1.12 acres improved with Synagogue, parking, sidewalks and landscaping
Zoning Located in TODC (Transit Oriented Development-Civic)
Parking Onsite parking with +/- 50 spaces
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Chozick Realty, Inc. (860) 247-7400 [email protected] 12 Temple B’nai Abraham
Chozick Realty, Inc. (860) 247-7400 [email protected] 13 Temple B’nai Abraham
Chozick Realty, Inc. (860) 247-7400 [email protected] 14 Temple B’nai Abraham
Chozick Realty, Inc. (860) 247-7400 [email protected] 15 Temple B’nai Abraham
Chozick Realty, Inc. (860) 247-7400 [email protected] 16 Meriden—Location Description MERIDEN, CONNECTICUT Meriden is a city in New Haven County located halfway between New Haven and Hartford. The city has a total area of 24.1 square miles and is located on Interstate 91 providing access to Hartford, Springfield and New Haven. Interstate 691 provides access to Interstate 84 and connects to points west. The Wilbur Cross Parkway (CT Route 15) connects toward New York City. Route 15 becomes the Berlin Turnpike on the northern end of Meriden providing a bustling a vibrant commercial area offering entertainment, shopping and restaurants. Located just north of downtown Meriden is Hubbard Park. This park of approximately 1800 acres features Castle Craig and is on the National Register of Historic Places.
Meriden is connected to the cities of New Haven, Hartford and Springfield by regional rail service provided by Amtrak. Additionally, Connecticut Department of Transportation plans to add a new commuter service, the Hartford Line in collaboration with Amtrak and the federal government that will run between New Haven and Springfield, MA.
Chozick Realty, Inc. (860) 247-7400 [email protected] 17 Yearly Expenses FIXED EXPENSES
Expenses 2015-2016 Proposed Budget 2018
Electric $5,219 $5,500
Gas $7,339 $8,500 Oil $300 $300
Water/Sewer $273 $300
Chozick Realty, Inc. (860) 247-7400 [email protected] 18 Sales Comparables Property SF Sale Date Price/SF Sale Price 1. 112 & 116 E Main Street 20,250 12/21/2017 $21 $425,000 Meriden, CT Blt 1927
Property SF Sale Date Price/SF Sale Price 2. 160 Wintonbury Ave 26,529 10/4/2017 $58 $1,540,000 Bloomfield, CT Blt 1966
Property SF Sale Date Price/SF Sale Price 3. 100 Pigeon Hill Rd 9,488 12/23/2016 $46 $435,000 Windsor, CT Blt 1985
Property SF Sale Date Price/SF Sale Price 4. 242-262 Bee Street 15,124 11/10/2016 $69 $1,040,000 Meriden, CT Blt 1963
Chozick Realty, Inc. (860) 247-7400 [email protected] 19 Sales Comparables Property SF Sale Date Price/SF Sale Price 5. 327 Huntington Street 14,335 9/7/2016 $49 $700,000 New London, CT Blt 1900
Property SF Sale Date Price/SF Sale Price 6. 175 Summer Street 18,794 1/19/2016 $21 $400,000 Bristol, CT Blt 1947
Property SF Sale Date Price/SF Sale Price 7. 68 Grove Street 16,238 3/20/2015 $31 $500,000 Waterbury, CT Blt 1894 & 1925
Property SF Sale Date Price/SF Sale Price 8. 35 Harris Road 10,939 10/22/2014 $101 $1,100,000 Avon, CT Blt 1964
Chozick Realty, Inc. (860) 247-7400 [email protected] 20 Sales Comparables Property SF Sale Date Price/SF Sale Price 9. 22 & 40 Old Church St 22,462 9/25/2014 $56 $1,250,000 Middletown, CT Blt 1930
Chozick Realty, Inc. (860) 247-7400 [email protected] 21