Premium Commercial Strip Center FOR SALE 2780-2788 Merrick Road, Bellmore, New York 11710 FOR FURTHER INFORMATION PLEASE CONTACT EXCLUSIVE AGENT: Derek Weinberger, Associate 212-792-2639, 516-965-1709 [email protected] ALTHOUGH ALL INFORMATION REGARDING PROPERTY FOR SALE, RENTAL OR FINANCING IS FROM *39 On Site Parking SOURCES DEEMED RELIABLE SUCH INFORMATION HAS NOT BEEN VERIFIED, AND NO EXPRESS REPRESENTATION IS MADE NOR IS ANY TO BE IMPLIED AS TO THE ACCURACY THEREOF, AND IT IS Spaces* SUBMITTED SUBJECT TO ERRORS, OMISSIONS, CHANGE OF PRICE, RENTAL OR OTHER CONDITIONS, PRIOR SALE, LEASE OR FINANCING, OR WITHDRAWAL WITHOUT NOTICE. 10 Sullivan Street – Corner of Broome Street & Sixth Avenue PROPERTY SUMMARY Location: 2780-2788 Merrick Road, Bellmore, New York 11710

Section-Block-Lot: 63-209-358 Acreage : .506 Acres Lot Area: 22,050 SF Lot Dimensions: 150’ X 147 Building Size: 8,260 SF Frontage: 150’ on Merrick Road Zoning: Business A, Business B Real Estate Taxes 2016: $73,235

Occupancy: 100% Parking: 39 parking spaces Demographics: $138,000 within 3 miles, population of 387,337 within 5 miles Vehicles Per Day: Approx. 40,000 vehicles per day pass by this property on Merrick Road Highlights: -150’ of frontage on Merrick Road -Building fully renovated in the last year -Fully Occupied –Located at the foot of a very busy intersection and traffic light

Neighbors: Dunkin Donuts, Subway, American Gymnastics, Red Door Spa, Kashi Japanese, Moe’s Southwest Grill, Ace Hardware, Chase Bank, Bellmore Post Office, Aboff’s Paints, 7-Eleven, Zorn’s

Property Summary: This newly renovated building is fully occupied by three tenants (Denny’s, Dental 365 and iChill). The property provides 150’ of frontage on Merrick road and 39 parking spaces. The building has recently been fully renovated and the parking lot has been repaved. The property is in mint condition. Bellmore is a very sought after retail location and properties rarely trade in the market.

Price: $4,525,000 (5% cap rate) 2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue PROPERTY PHOTO

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue PROPERTY PHOTO

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue PROPERTY PHOTO

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue RENT ROLL

REVENUE M

UNIT SF PRO-RATA RENT/PM RENT/SF CAM/MO TAXES/MO RENT/YR RENT+REIMB/YR LEASE START LEASE EXP. OPTIONS

Denny's 4,500 55% $ 11,250 $ 22 $ 603 $0 (See Below) $ 135,000 $ 142,233 8/7/2005 6/30/2018 none

Dental 365 2,210 26% $ 6,078 $ 33 $ 655 $1586 (See Below) $ 72,930 $ 99,840 3/31/2030 3/31/2030 (2) 5 yr options 3% annual increase iChill 1,550 19% $ 4,400 $ 34 $ 416 $0 (See Below) $ 52,800 $ 57,792 11/30/2016 11/30/2026 (1) 5 yr option 3% annual increase

Mobile Station Parking $ 1,000 $ 12,000 $ 12,000 10/31/2016 10/31/2020

TOTAL 8,260 100% $ 22,728 $ 272,730 $ 311,865

PRICE/SF Rent Increases 2017 RENT/PM RENT/YR

Denny's: April 2017 $6,000 increase Denny's $ 11,750 $ 141,000

Dental 365: 3% annual increases Dental 365 $ 6,260 $ 75,118 iChill: Years (1-4) annual $200 increase, year (5) $150 increase, year (6) $350 increase iChill $ 4,600 $ 55,200

Mobile Station Parking: 4% annual increase Mobile $ 1,040 $ 12,480 Real Estate Tax Reimbursements Total $ 23,650 $ 283,798

Denny's: pays pro-rata share above base year taxes ($76,487) Dental 365: pays pro-rata share of total RE taxes ($73,235)/(2016) iChill: pays pro-rata share above base year taxes ($73,235)/(2016)

2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue PRO FORMA

Revenue Amount Rent $ 272,730 Reimb $ 39,135

Total $ 311,865 Net Operating Income Amount Revenue $ 311,865

Expenses Amount Expenses $ (85,635) Real Estate Taxes $ 73,235 NOI $ 226,230 Planting* $ 1,000 Landscape Maint.** $ 600 Electricity $ 3,600 Parking Lot Cleaning $ 1,200 Asking Price $ 4,525,000 Insurance $ 6,000 Asking Cap 5.00%

TOTAL EXPENSES $ 85,635 Price per SF $ 547.82

*Annual Planting

**Monthly landscaping maintenance cost of $75 between April-November 2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue SALES COMPS

Address Town Year Price Square Footage Price PSF

2928-2942 Merrick Bellmore Road January 2015 $2,800,000 5,253 $533

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue AERIAL VIEW

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue MAP

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue SITE PLAN

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue DEMOGRAPHICS

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2780-2788 Merrick Road, Bellmore, NY 11710 10 Sullivan Street – Corner of Broome Street & Sixth Avenue TRAFFIC MAP

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2780-2788 Merrick Road, Bellmore, NY 11710 PREMIUM COMMERCIAL STRIP CENTER FOR SALE

2780-2788 Merrick Road Bellmore, New York, 11710

FOR FURTHER INFORMATION PLEASE CONTACT EXCLUSIVE AGENT: Derek Weinberger, Associate 212-792-2639, 516-965-1709 [email protected]

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