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122 Stevens Ave, Jersey City, Nj Mixed-Use Building |8 Apartments | 1 Retail | 5.55% Cap Rate Non-Endorsement & Disclaimer Notice

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122 Stevens Ave, Jersey City, Nj Mixed-Use Building |8 Apartments | 1 Retail | 5.55% Cap Rate Non-Endorsement & Disclaimer Notice 122 STEVENS AVE, JERSEY CITY, NJ MIXED-USE BUILDING |8 APARTMENTS | 1 RETAIL | 5.55% CAP RATE NON-ENDORSEMENT & DISCLAIMER NOTICE CONFIDENTIALITY & DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2019 Marcus & Millichap. All rights reserved. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. OFFICES THROUGHOUT THE U.S. AND CANADA www.marcusmillichap.com 122 STEVENS AVE EXCLUSIVELY LISTED BY FAHRI OZTURK First Vice President Investments NEW JERSEY OFFICE Tel: (201) 742.6170 [email protected] RICHARD GATTO National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6137 [email protected] DANIEL AVILES National Multi Housing Group NEW JERSEY OFFICE Tel: (201) 742.6148 [email protected] 01 INVESTMENT OVERVIEW Property Details Investment Highlights Demographics 02 122 STEVENS AVE PROPERTY MAPS & PHOTOS Property Maps Exterior Photos TABLE OF CONTENTS Interior Photos 03 FINANCIAL ANALYSIS Rent Roll Income and Expenses 04 PROPERTY TAX MAP & DEMOGRAPHICS Tax Map Zoning Map Demographics 122 STEVENS AVE INVESTMENT OVERVIEW S E C T I O N 01 PROPERTY Block & Lot 26401 / 21 Lot Dimensions 30X100 Lot Size 3,000 Sq. Ft. Property Taxes $15,815 Zoning R-1: Residential BUILDING Stories 3 Approx. Gross Building Size 7,500 Sq. Ft. Number of Apartments Units 8 Number of Commercial Units 1 Occupancy 88.8% Tenant Responsibilities Electric, Cooking Gas, Heat & Hot water EXECUTIVE SUMMARY 6 INVESTMENT HIGHLIGHTS MIXED-USE OPPORTUNITY STABILIZED CASH FLOW • The property consists of 8 apartments and 1 retail unit. • The property has an effective gross income of $142,764 representing an • Located on the corner of Stevens Avenue and Martin Luther King Dr. 5.55% cap rate at asking price CONVENIENT TRANSPORTATION CENTRAL LOCATION • The property is located approximately 2 miles from the Journal • 15 minutes to NYC and minutes from Historic Downtown Jersey City Square Transportation Center which offers a 15-minute ride to the • Residents have quick access to key employment centers of Manhattan World Trade Center and a 22-minute ride to Midtown Manhattan via Path • Minutes from the Holland Tunnel, Lincoln Tunnel and GW Bridge • Two-minute walk from JFK Blvd bus stop which offers a direct ride • Easy access to Garden State Parkway, I-95, I-78, Route 1&9 and more into the Manhattan • Situated closely to Newark, JFK and LaGuardia Airport. • Walkable distance to restaurants, theaters and many national retailers INVESTMENT HIGHLIGHTS 7 INVESTMENT OVERVIEW Marcus & Millichap has been selected to exclusively market for sale the 122 Stevens Ave, a three-story, brick, mixed-use building in Jersey City, New Jersey. The building consists of 8 apartments and one retail tenant. The retail tenant has a 17-year lease that expires in 2030. The property is located approximately 2 miles from the Journal Square Transportation Center which offers a 15-minute ride to the World Trade Center and a 22-minute ride to Midtown Manhattan via Path. 122 Stevens Ave is also Two-minute walk from JFK Blvd bus stop which offers a direct ride into the Manhattan. Jersey City has earned a reputation as a city with ideal regional connectivity due to accessible public transportation. The successful public transportation system has sparked new development opportunities in the city as several nearby apartment complexes have been completed and are under construction. The new supply speaks to the value of the location and should continue to drive the local economy which will ultimately push rents. PROPERTY SUMMARY Price $1,750,000 Block & Lot 264001 / 21 Number of Units 9 Lot Size 3,000 Sq. Ft. Approx. Building Size 7,500 Sq. Ft. Year Built 1920 Real Estate Taxes $15,815 EXECUTIVE SUMMARY 8 THE NEXT FRONTIER | GREENVILLE Greenville rests at the southernmost point of Jersey City, an area lined with brownstones and multi-family residences. This Jersey City neighborhood lies within ten minutes of Liberty State Park and is near a variety of local parks, cultural centers, and live music venues. Greenville has benefitted from the recent revitalization of Downtown Jersey City, and its proximity to Bayonne gives Greenville an edge over other neighborhoods. Renting a Greenville apartment places you near Manhattan -- but without the constant noise of living in the city. Greenville is quiet, beautiful, and a terrific neighborhood to call home. EXECUTIVE SUMMARY 9 122 STEVENS AVE PROPERTY MAPS & PHOTOS S E C T I O N 02 IN CLOSE PROXIMITY Approx. Miles Port Authority Bus Terminal 5 Journal Square Bus Terminal New York Penn Station 6 Newark Liberty Airport 9 2 Miles 28 Min. Journal Sq. Ride to Transportation Manhattan 122 STEVENS AVE Jersey City Transportation Center 2 Miles 30 Min. Jersey City Transportation Center Journal Sq. ride to 30 Min. To NYC Transportation Manhattan PROPERTY MAP 11 PROPERTY AERIALS PROPERTY PHOTOS 12 INTERIOR PHOTOS PROPERTY PHOTOS 13 RETAIL SPACE The Best Super Market Rent Schedule Lease Ending 2030 2019 $2,550.00 2020 $2,650.00 2021 $2,900.00 2022 $2,900.00 2023 $3,150.00 2024 $3,150.00 2025 $3,400.00 2026 $3,400.00 2027 $3,650.00 2028 $3,650.00 2029 $3,900.00 2030 $3,900.00 PROPERTY PHOTOS 14 MECHANICAL PHOTOS PROPERTY PHOTOS 15 122 STEVENS AVE FINANCIAL ANALYSIS S E C T I O N 03 RENT ROLL Commercial Floor Tenant SF (Est.) Monthly Rent Annual Rent $/PSF 1 Best Market 1,000 $2,550 $30,600 $32 1,000 $2,550 $30,600 $32 Residential Unit # Bedrooms SF (Est.) Monthly Rent Annual Rent $/PSF 1 1 Bed/1 Bath 650 $875 $10,500 $17 2(1) 2 Bed/1 Bath 800 $1,400 $15,000 $19 3 2 Bed/1 Bath 800 $1,271 $15,252 $20 4 2 Bed/1 Bath 800 $999 $11,988 $15 5 2 Bed/1 Bath 800 $1,271 $15,252 $20 6 2 Bed/1 Bath 800 $1,218 $14,616 $19 7 2 Bed/1 Bath 800 $1,063 $12,756 $16 8 2 Bed/1 Bath 800 $1,250 $15,000 $19 6,250 $9,347 $112,164 $18 (1) Vacant Total Commercial & Residential Income $142,764 $147,329 FINANCIAL ANALYSIS 17 RENT ROLL ANALYSIS Actual Pro Forma # of Unit Type Units Avg SF Avg Rent Avg $/PSF Market Rent Avg $/PSF % Upside 1 Bed/1 Bath 1 650 $875 $16.15 $1,250 $23.08 43% 2 Bed/1 Bath 7 800 $1,210 $18.15 $1,400 $21.00 16% Commercial 1 1,000 $2,550 $30.60 $2,650 $31.80 4% Total 9 Total Upside 16% $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 Avg Rent Market Rent FINANCIAL ANALYSIS 18 INCOME & EXPENSES CURRENT PRO FORMA INCOME %EGI %EGI Gross Potential Income $142,764 $147,329 Less Vacancy & Credit Loss -$5,711 4% -$5,893 4% Other Income $1,408 $1,500 Effective Gross Income $138,461 $142,936 EXPENSES %EGI Per Unit %EGI Per Unit Property Taxes $17,696 13% $1,966 $18,050 13% $2,006 Insurance $3,229 2% $359 $3,294 2% $366 Water & Sewer $4,159 3% $462 $4,242 3% $471 PSE&G(1) $293 0% $33 $299 0% $33 Repairs & Maintenance $4,500 3% $500 $4,590 3% $510 Pest Control $1,200 1% $133 $1,224 1% $136 Superintendent $4,050 3% $450 $4,131 3% $459 Management Fee $4,154 3% $462 $4,237 3% $471 Legal & Accounting $1,100 1% $122 $1,122 1% $125 Reserves $1,000 1% $111 $1,020 1% $113 Total Expenses $41,381 30% $1,966 $42,208 30% $2,006 NET OPERATING INCOME $97,081 $100,727 (1) Common Area FINANCIAL ANALYSIS 19 OFFERING SUMMARY Summary Operating Data Current Pro Forma Price $1,750,000 Gross Potential Income $142,764
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