OFFERING MEMORANDUM

Liquor Store & Mixed Use Investment Property

CLIFFSIDE PARK, NJ

OFFERING MEMORANDUM

KW COMMERCIAL PRESENTED BY: 2200 Fletcher Avenue, 5th floor BRUCE ELIA JR. Fort Lee, NJ 07024 Broker-Associate 0: 201.917.5884 X701 C: 201.315.1223 [email protected] NJ #0893523 OFFERING MEMORANDUM Confidentiality & Disclaimer

CLIFFSIDE PARK, NJ

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property 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 or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may 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 of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

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 and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial does 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 or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Fort Lee in compliance with all applicable fair housing and equal opportunity laws.

PRESENTED BY:

KW COMMERCIAL BRUCE ELIA JR. Broker-Associate 2200 Fletcher Avenue, 5th floor 0: 201.917.5884 X701 C: 201.315.1223 Fort Lee, NJ 07024 [email protected] NJ #0893523

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. It is 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 include projections, 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 advisors should conduct your own investigation of the property and transaction.

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LIQUOR STORE MIXED USE INVESTMENT PROPERTY PROPERTY INFORMATION 1

EXECUTIVE SUMMARY CITY INFORMATION PROPERTY DESCRIPTION PROPERTY DETAILS ADDITIONAL PHOTOS ADDITIONAL PHOTOS ADDITIONAL PHOTOS LIQUOR STORE MIXED USE INVESTMENT PROPERTY 1 | PROPERTY INFORMATION Executive Summary

OFFERING SUMMARY PROPERTY OVERVIEW The purchase and sale includes the liquor store (currently operating), $1,149,000 for the liquor license, and the real estate building that the liquor store is Building currently occupying. The liquor license is a Class C license, allowing SALE PRICE: retail sale and consumption on the premises. $550,000 for Liquor License + Liquor Store PROPERTY HIGHLIGHTS BUILDING CAP RATE: 6.55% • Class C Liquor License Allowing Retail Sale and Consumption on 9.90% LIQUOR STORE CAP RATE: Premises NOI: $75,300 • Mixed Use Retail / / Office Building Investment Sale LOT SIZE: 2,021 SF YEAR BUILT: 1928 • Includes (1) Car Garage Parking Space BUILDING SIZE: 3,537 SF • Includes Full Basement with Plenty of Storage & Easy Access : C2 • On The Main Strip of Newly Built Up Downtown in Cliffside Park MARKET: Northern NJ Market SUBMARKET:

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CLIFFSIDE PARK, NJ

Founded in 1895, Cliffside Park has come a long way from a that consisted of farms and woodlands. Its motto, Atop the Palisades, is a perfect description of the ’s geography. Conveniently located between the and the , it is home to many business people who find it an easy commute. Cliffside Park is one square mile, and home to approximately 23,000 people.

Residents of the borough enjoy a multitude of restaurants – everything from Italian to Turkish. Its main thoroughfare, Anderson Avenue, or “The Avenue” as it is affectionately referred to, has many wonderful stores for shoppers to explore. The form of government is mayor and council. There are six council members, two elected every 3 years on a rotating basis. The mayor serves a four-year term. There are four elementary schools, a middle school, an Early Learning Center and a high school. For more information regarding the school system see the Cliffside Park School District official website.

CITY INFORMATION CITY HIGHLIGHTS • Add highlights

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PROPERTY OVERVIEW The purchase and sale includes the liquor store (currently operating), the liquor license, and the real estate building that the liquor store is currently occupying. The liquor license is a Class C license, allowing retail sale and consumption on the premises.

LOCATION OVERVIEW About Cliffside Park,

Cliffside Park is a borough in Bergen County, New Jersey, United States. As of the 2010 United States Census, the borough's population was 23,594,[8][9][10] reflecting an increase of 587 (+2.6%) from the 23,007 counted in the 2000 Census, which had in turn increased by 2,614 (+12.8%) from the 20,393 counted in the 1990 Census.[19]

Cliffside Park was formed based on the results of a referendum held on January 15, 1895, from portions of Ridgefield .[20][21] The borough was formed during the "Boroughitis" phenomenon then sweeping through Bergen County, as of one two boroughs created in 1895 after 26 boroughs were formed in the county in 1894 alone.[22] The borough was named for its location as a "Park by the Cliffs".

U.S. Senator Frank Lautenberg resided in the borough until his death in 2013. Cliffside Park was home to the former Palisades , part of which was located in adjoining Fort Lee. The 38-acre (15 ha) park operated from 1898 until 1971, remaining one of the most-visited amusement parks in the country until it's closure, after which the rides and attractions were removed and the site replaced by high-rise apartment buildings.

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SALE $1,149,000 FOR BUILDING & $550,000 FOR PROPERTY DETAILS PRICE LIQUOR LICENSE + LIQUOR STORE Property Type Retail Property Subtype Street Retail LOCATION INFORMATION Zoning C2 Building Name Liquor Store Mixed Use Investment Lot Size 2,021 SF Property Submarket Hudson Waterfront Street Address 743 Anderson Ave Lot Frontage 20 City, State, Zip Cliffside Park, NJ 07010 Lot Depth 101 County/Township Bergen Corner Property Yes Market Northern NJ Market MLS ID# Off Market Submarket Hudson Waterfront Cross Streets Pleasant Ave Road Type Paved PARKING & TRANSPORTATION Market Type Large Nearest Highway Rt 4, Rt 80, Rt 46, i95, i80, i280, i287, Street Parking Yes Nearest Airport Newark Airport 20 Minutes Away Parking Type Structure Number Of Spaces 1 Parking Description There is street parking in front and on the side street of Pleasant Ave. BUILDING INFORMATION

Building Size 3,537 SF NOI $75,300 UTILITIES & AMENITIES Cap Rate 6.55% Price / SF $325 Number Of 0 Year Built 1928 Elevators Building Class C Central Central Air, Office has wall AC Occupancy % 50% HVAC Tenancy Multiple Restrooms Retail: Half Bath; Office #1: Half Bath; Office Number Of Floors 3 #2: Half Bath; Apartment: Gross Leasable Area 3,537 SF Utilities The utilities are Load Factor Yes Description Construction Status Existing Framing Wood Framed Condition Good Number Of Buildings 1 Floor Coverings Retail: Tile; Office #1: Hard Wood; Office #2: Hardwood

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Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 8 LIQUOR STORE MIXED USE INVESTMENT PROPERTY 1 | PROPERTY INFORMATION Additional Photos

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Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 10 OFFERING MEMORANDUM 2 | LOCATION INFORMATION LOCATION INFORMATION

LIQUOR STORE MIXED USE INVESTMENT PROPERTY LOCATION INFORMATION 2

REGIONAL MAP AERIAL MAP LIQUOR STORE MIXED USE INVESTMENT PROPERTY 2 | LOCATION INFORMATION Regional Map

Liquor Store Mixed Use Investment Property

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Liquor Store Mixed Use Investment Property

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LIQUOR STORE MIXED USE INVESTMENT PROPERTY FINANCIAL ANALYSIS 3

FINANCIAL SUMMARY INCOME & EXPENSES RENT ROLL TENANT PROFILES ROME LIQUOR STORE INCOME / EXPENSES LIQUOR STORE MIXED USE INVESTMENT PROPERTY 3 | FINANCIAL ANALYSIS Financial Summary

INVESTMENT OVERVIEW BUILDING INVESTMENT SALE

Price $1,149,000 Price per SF $324.85 CAP Rate 6.6% Cash-on-Cash Return (yr 1) 5.08 % Total Return (yr 1) $31,959 Debt Coverage Ratio 1.23

OPERATING DATA BUILDING INVESTMENT SALE

Gross Scheduled Income $104,400 Other Income $0 Total Scheduled Income $104,400 Vacancy Cost $5,220 Gross Income $99,180 Operating Expenses $23,880 Net Operating Income $75,300 Pre-Tax Cash Flow $13,918

FINANCING DATA BUILDING INVESTMENT SALE

Down Payment $274,000 Loan Amount $875,000 Debt Service $61,382 Debt Service Monthly $5,115 Principal Reduction (yr 1) $18,041

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INCOME SUMMARY BUILDING INVESTMENT SALE

Tenant Income (Retail, Comm # 1 & 2, Resi. Apt) $104,400 Gross Income $104,400

EXPENSE SUMMARY BUILDING INVESTMENT SALE

Taxes (16%) $17,690 Insurance (4%) $3,300 Water & Sewer (.02%) $180 PSE&G - LL Pays Basement Heat / Hallway Lights (.8%) $1,110 Manegement Fees (0% - Self Managed) $0 Maintenance & Repair (.8%) $1,600 Gross Expenses $23,880

Net Operating Income $75,300

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TENANT UNIT UNIT LEASE LEASE PROJ. ANNUAL % OF PRICE NAME NUMBER SIZE (SF) START END RENT GLA PER SF/YR

Rome Liquors Retail Store Front 1,421 Owner Owner $42,000 40.18 $29.56

Sky Group Realty Office # 1 700 3/1/2019 2/28/2020 $18,000 19.79 $25.71

Vacant Office # 2 400 TBL TBL $8,400 11.31 $21.00

Vacant Res. Apartment 1,515 TBL TBL $36,000 42.83 $16.63

Totals/Averages 4 Units 4,036 Varies Varies $104,400 100% $16.95

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OVERVIEW DETAILS:

Company: Rome Liquor Store Rome Liquor Store Property sits on the corner of Pleasant Ave and Total Revenue: $525,498 Anderson Ave in thriving Cliffside Park, NJ

Property Includes a Class "C" License for Net Income: $55,296 consumption and sales

Business Value: $550,000 Successfully established and local neighborhood wine & spirits

Lease Rate: $30/Ft Enjoy the already built in income from this business to net you more money on the investment property

TENANT HIGHLIGHTS

• Video Security System Installed and Operating • Full Size Basement with Storage Potential • Separate Entrance for Office Space • Strong Building - Masonary Stucco Exterior • Tons of Foot Traffic on Anderson Ave, Cliffside Park • Lots of Development in-and-around the Area

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Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 19 OFFERING MEMORANDUM 4 | SALE COMPARABLES SALE COMPARABLES

LIQUOR STORE MIXED USE INVESTMENT PROPERTY SALE COMPARABLES 4

SOLD COMPARABLE PROPERTIES LIQUOR STORE MIXED USE INVESTMENT PROPERTY 4 | SALE COMPARABLES Sold Comparable Properties

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LIQUOR STORE MIXED USE INVESTMENT PROPERTY DEMOGRAPHICS 5

DEMOGRAPHICS MAP ADVISOR BIO & CONTACT INFO LIQUOR STORE MIXED USE INVESTMENT PROPERTY 5 | DEMOGRAPHICS Demographics Map

POPULATION 0.5 MILES 1 MILE 1.5 MILES

Total population 14,792 49,216 96,657

Median age 45.0 42.4 40.4

Median age (male) 42.9 40.6 39.0

Median age (Female) 47.1 44.0 41.9

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES

Total households 6,340 20,592 40,473

# of persons per HH 2.3 2.4 2.4

Average HH income $86,095 $90,667 $89,740

Average house value $526,836 $534,492 $533,772

* Demographic data derived from 2010 US Census

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BRUCE ELIA JR. PROFESSIONAL BACKGROUND Broker-Associate Bruce Elia Jr and his companies ‘The Bruce Elia Team’ & 'Wholesale Homes LLC' understand that buying or selling a piece of real estate is more than just a transaction: it’s a life-changing experience. That’s why our team of highly-seasoned real estate professionals, designers, stagers, contractors, transaction coordinators, and extended team members are dedicated to providing exceptional, personalized service for all of our clients.

We take great pride in the relationships we build and always work relentlessly on the client’s behalf to help them achieve their real estate goals.

Our team of experts represents the best and brightest in the industry, and we’re always striving to lead the field in research, innovation, and consumer education.

Today’s buyers and sellers need a trusted resource that can guide them through 2200 Fletcher Avenue, 5th floor the complex world of residential and commercial real estate. With our extensive Fort Lee, NJ 07024 T 201.917.5884 x701 knowledge and commitment to providing only the best and most timely information C 201.315.1223 to our clients, we are your go-to source for real estate industry insight and advice. [email protected] NJ #0893523 EDUCATION Sales-Associate License - April 2008' Bachelor Degree - University of New Hampshire - June 2008' Broker-Associate License - May 2011' Certified Negotiation Expert (C.N.E.) Financial Analysis for Commercial Real Estate Feasibility Analysis for Commercial Real Estate Financial Modeling for Real Estate Development RE Development: Acquisitions

MEMBERSHIPS & AFFILIATIONS KW Commercial Global Property Specialist Co-Star / Loopnet NJMLS HCMLS GSMLS Eastern Bergen County Board of Realtors

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