Galaxy Mall Unit M7 7000 JOHN F
Total Page:16
File Type:pdf, Size:1020Kb
OFFERING MEMORANDUM Galaxy Mall Unit M7 7000 JOHN F. KENNEDY BOULEVARD EAST GUTTENBERG, NJ OFFERING MEMORANDUM KW COMMERCIAL PRESENTED BY: 2200 Fletcher Avenue, 5th floor Fort Lee, NJ 07024 JON CORBISCELLO Broker Associate, Military Relocation Professional, Athlete Relocation Professional, Short Sale And Foreclosure Resource 0: 201.592.8900 C: 973.420.9029 [email protected] GALAXY MALL | Executive Summary OFFERING SUMMARY CLICK HERE TO VIEW VIDEO SALE PRICE: $1,300,000 PROPERTY OVERVIEW This is a rare opportunity to secure an income generating property with a long term medical Tenant in place. The Galaxy Towers are three of the most renowned CAP RATE: 5.5% buildings on the famous Gold Coast of New Jersey facing New York City. This pharmacy is located on the ground level along with additional retailers and has signage facing Boulevard East. The Towers are home to 1,075 residential units that act as a built in business and there are over 500 additional units on block. The NOI: $71,700 pharmacy has been in business for over 30 plus years. The current Tenant is a multi unit pharmacy operator with a liquor distribution licence in place and there is parking on site. These factors add to making this a great investment with a quality AVAILABLE SF: 6,023 SF Tenant in an industry that continues to expand. PROPERTY HIGHLIGHTS BUILDING NAME Galaxy Towers Prime Location Opportunity to Increase NOI MARKET: Guttenberg Built In Business over 1,075 Units On Site Easy Access to NYC PRICE / SF: $215.84 At Traffic Light Intersection Frontage on JFK Boulevard East Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 2 GALAXY MALL | Property Description INVESTMENT OVERVIEW Current Tenant in place has an option to renew for 7 years with a one time 6% increase followed by yearly increases. LOCATION OVERVIEW The Galaxy Towers are located on the corner of John F Kennedy Boulevard East and 69th Street in Gutenberg New Jersey 5 miles from the George Washington Bridge. Buses 128, 156, 158, 159, 165, 166, and 169 are steps away making stops every 5 minutes for a commute to NYC by bus less than 15 minutes. Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 3 GALAXY MALL | Additional Photos Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 4 GALAXY MALL | Additional Photos Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 5 GALAXY MALL | Additional Photos Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 6 GALAXY MALL | Property Details SALE PRICE $1,300,000 PROPERTY DETAILS Property Type Retail Property Subtype Strip Center LOCATION INFORMATION MLS ID# 21020067 Building Name Galaxy Mall Street Address 7000 John F. Kennedy Boulevard East City, State, Zip Guttenberg, NJ 07093 County/Township Hudson Market Guttenberg Cross Streets JFK Boulevard East and 69th Street Side Of Street East Signal Intersection Yes Market Type Large Nearest Airport Newark Liberty International BUILDING INFORMATION NOI $71,700 Cap Rate 5.5% Occupancy % 100% Tenant Galaxy Pharmacy And Liquor Load Factor Yes Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 7 GALAXY MALL | Financial Summary INVESTMENT OVERVIEW Price $1,300,000 Price per SF $215.84 CAP Rate 4.0% Potential CAP Rate 7.4% Net Operating Income $52,500 Potential Net Operating Income $95,700 Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 8 GALAXY MALL | Rent Roll TENANT UNIT UNIT LEASE LEASE ANNUAL % OF PRICE NAME NUMBER SIZE (SF) START END RENT GLA PER SF/YR Galaxy Pharmacy 1 6,023 2014 2024 $151,112.76 100.0 $24.90 Totals/Averages 6,023 $149,973 $24.90 Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 9 GALAXY MALL | Regional Map Galaxy Mall Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 10 GALAXY MALL | Location Maps Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 11 GALAXY MALL | Aerial Map Galaxy Mall Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 12 GALAXY MALL | Demographics Map POPULATION 0.25 MILES 0.5 MILES 1 MILE Total population 7,660 30,051 98,110 Median age 34.1 34.1 34.6 Median age (male) 31.9 32.0 33.0 Median age (Female) 36.9 36.4 36.5 HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE Total households 2,504 9,887 34,143 # of persons per HH 3.1 3.0 2.9 Average HH income $61,859 $59,331 $56,008 Average house value $394,240 $390,992 $378,336 * Demographic data derived from 2010 US Census Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 13.