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. Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 2 OFFERING MEMORANDUM 1 | PROPERTY INFORMATION PROPERTY INFORMATION 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 / Apartment / 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 ZONING: C2 • On The Main Strip of Newly Built Up Downtown in Cliffside Park MARKET: Northern NJ Market SUBMARKET: Hudson Waterfront Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 4 LIQUOR STORE MIXED USE INVESTMENT PROPERTY 1 | PROPERTY INFORMATION City Information CLIFFSIDE PARK, NJ Founded in 1895, Cliffside Park has come a long way from a town that consisted of farms and woodlands. Its motto, Atop the Palisades, is a perfect description of the borough’s geography. Conveniently located between the George Washington Bridge and the Lincoln Tunnel, it is home to many New York City 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 Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 5 LIQUOR STORE MIXED USE INVESTMENT PROPERTY 1 | PROPERTY INFORMATION Property Description 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, New Jersey 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 Township.[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 Amusement Park, 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. Each Office Independently Owned and Operated kwcommercial.com/commercial/McCommercial.action?orgId=6238 6 LIQUOR STORE MIXED USE INVESTMENT PROPERTY 1 | PROPERTY INFORMATION Property Details 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