EXECUTIVE SUMMARY - LoopNet€¦ · EXECUTIVE SUMMARY LOCATION: THE AVENUE 4401 BergenlineAve. &...
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Transcript of EXECUTIVE SUMMARY - LoopNet€¦ · EXECUTIVE SUMMARY LOCATION: THE AVENUE 4401 BergenlineAve. &...
EXECUTIVE SUMMARY
LOCATION:
THE AVENUE4401 Bergenline Ave. & 500 44th St., Union City, NJ 07087
BLOCK: 255 / LOT: 21LOT SIZE: 30’ X 102NUMBER OF STORIES: 3YEAR BUILT: 2018BUILDING / UNITS: 6 RESIDENTIAL / 3 RETAILPROPERTY CLASS: 4B-6U-2C / ZONE: C1BUILDING SQUARE FOOTAGE: 11,000
• Construction on this magnificently designed and built elevator building was completed in 2018. This corner property is located on the city’sbusiest pedestrian and vehicular avenue. In the heart of the main shopping district it is surrounded by numerous national retail tenants andbanks
• This fully rented building is comprised of 6 two-bedroom apartments and 3 storefronts with 2257sf of prime retail space that is currently leasedby 2 separate tenants.
• All 6 residential units have bright southern exposures and feature ultra-modern kitchens with stainless steel appliances, 42” cabinets, quartzcounter tops, maple floors, 9 ft ceilings and in-unit washer/dryers.
• This is the top mixed-use investment property on the market in Union City today.
LOCATION MAP
UNIT COUNT
6 RESIDENTIAL - Unit #2A: 1059 SF (2 Bed / 1 Bath)- Unit #2B : 1250 SF (2 Bed / 2 Bath)- Unit #3A : 1059 SF (2 Bed / 1 Bath)- Unit #3B : 1250 SF (2 Bed / 2 Bath)- Unit #4A : 1059 SF (2 Bed / 1 Bath)- Unit #4B : 984 SF (2 Bed / 1 Bath)
3 RETAIL STORES- 4401 Bergenline Ave. (506 SF)- 4403 Bergenline Ave. (803 SF)- 500 44th Street (948 SF)
BUILDING FEATURES
RESIDENTIAL- Separate Lobby Entrance with Schindler Elevator- Ultra-Modern Kitchens- Stainless Steel Appliances- 42” Cabinets- Quartz Counter-tops- Maple Floors- In-Unit Washer/Dryer- 9’ Ceilings- Central Heating & Cooling Systems (Not PTACs)- Large Apartments (Average 1110 SF)- Spacious Rooms- Separate Utilities- Pre-Wired for Verizon Fios- Intercom- Individual Unit Keyless Keypad Entry
RETAIL/COMMERCIAL- 3 Stores with 3 Separate Entrances- 12’ Ceilings- 10’ All-Glass Storefront Entrances- Central Heating & Cooling Systems- Separate Utilities
INVESTMENT HIGHLIGHTS
PRICED AT : $ 3,600,000
GROSS RENTAL INCOME: $ 292,080
TOTAL EXPENSES : $ 108,279.99
NOI : $ 172,904.01
CAP : 4.80%
FINANCIALS
FINANCIALS
Estimated Market Value: $ 3,600,000.00 4.80% CAP Rate
# of Units 9 $ 400,000.00 Total SF 11,000 327.2727273
Property Address: 4401 Bergenline Ave, Union City, NJ 07087
"The Avenue"
Property Income: Annual Per Unit
Gross Income Commercial $ 106,680.00 $ 35,560.00
Gross Income Residential $ 185,400.00 $ 30,900.00
Potential Gross Income Total $ 292,080.00 $ 32,453.33
Less Vacancy Commercial 5% $ 5,334.00 Less Vacancy Residential 3% $ 5,562.00
Effective Gross Income: $ 281,184.00
Property Expenses: Annual Per Unit % of Total Exp % of Effect Inc
Real Estate Taxes 2019 $ 69,000.00 $ 7,666.67 63.72% 24.54%Insurance 2019 $ 4,861.80 $ 540.20 4.49% 1.73%Janitorial $ 250.00 $ 3,000.00 $ 333.33 2.77% 1.07%Management 3% $ 8,435.52 $ 937.28 7.79% 3.00%Maintenance/Repairs 3% $ 8,435.52 $ 937.28 7.79% 3.00%Common Electric 2019 $ 4,747.27 $ 527.47 4.38% 1.69%Water (Fire Line) 2019 $ 1,549.88 $ 172.21 1.43% 0.55%Telcom/Alarm 2019 $ 1,830.00 $ 203.33 1.69% 0.65%Cleaning $ 100.00 $ 1,200.00 $ 133.33 1.11% 0.43%Elevator 2019 $ 5,220.00 $ 580.00 4.82% 1.86%Total Expenses: $ 108,279.99
Effective Gross Income: $ 281,184.00 100.00%
Property Expenses: $ 108,279.99 38.51%
Net Operating Income: $ 172,904.01 61.49%
PROFIT & LOSS
RENT ROLLUnit Type Sq Ft. Rent
C1 Commercial 506 $ 3,090.00
C2 Commercial 900 $ 2,900.00
C3 Commercial 900 $ 2,900.00
2A 2 Bed/1 Bath 1059 $ 2,500.00
2B 2 Bed/2 Bath 1250 $ 3,050.00
3A 2 Bed/1 Bath 1059 $ 2,200.00
3B 2 Bed/2 Bath 1250 $ 2,300.00
4A 2 Bed/1 Bath 1059 $ 3,000.00
4B 2 Bed/2 Bath 984 $ 2,400.00
Total $ 24,340.00
Annual Gross Rent $ 292,080.00
6 Residential 6661 $ 27.83 $ 185,400.00
3 Commercial 2306 $ 46.26 $ 106,680.00
Effective Income $ 281,184.00
Property Expense $ 108,279.99
Net Income $ 172,904.01
Monthly Income $ 14,408.67
Debt Service $ 12,030.87
Monthly Cash Flow $ 2,377.80 X12 $ 28,533.62
Ratio 1.20
Total Cash Return on Investment 2.64%
Down Payment $ 1,080,000.00
Closing Cost (Est @2.5% Sales Price) $ 90,000.000
Total Acquisition Cost $1,170,000.000
Annual Net Cash Flow $ 28,533.62
Avg (10yr) Annual Principal Paydown $ 53,464.35
Avg (2%) Appreciation $ 72,000.00
Total Avg Annual ROI $ 153,997.97
Total Avg Annual ROI 13.16%
DEBT SERVICE WORKSHEET
ROI CALCULATIONS
FINANCIALS
Inputs Key Figures
Loan principal amount $ 2,520,000.00 Annual loan payments $144,370.44
Annual interest rate 4.00% Monthly payments $12,030.87
Loan period in years 30 Interest in first calendar year $99,992.27
Base year of loan 2019 Interest over term of loan $1,811,113.20
Base month of loan Sum of all payments $4,331,113.20
PAYMENTS IN FIRST 12 MONTHS
Year Month Beginning Balance Payment Principal Interest Cumulative
PrincipalCumulative Interest Ending Balance
2019 Jan $2,520,000.00 $12,030.87 $3,630.87 $8,400.00 $3,630.87 $8,400.00 $2,516,369.13
Feb $2,516,369.13 $12,030.87 $3,642.97 $8,387.90 $7,273.84 $16,787.90 $2,512,726.16
Mar $2,512,726.16 $12,030.87 $3,655.12 $8,375.75 $10,928.96 $25,163.65 $2,509,071.04
Apr $2,509,071.04 $12,030.87 $3,667.30 $8,363.57 $14,596.26 $33,527.22 $2,505,403.74
May $2,505,403.74 $12,030.87 $3,679.52 $8,351.35 $18,275.78 $41,878.57 $2,501,724.22
Jun $2,501,724.22 $12,030.87 $3,691.79 $8,339.08 $21,967.57 $50,217.65 $2,498,032.43
Jul $2,498,032.43 $12,030.87 $3,704.10 $8,326.77 $25,671.67 $58,544.42 $2,494,328.33
Aug $2,494,328.33 $12,030.87 $3,716.44 $8,314.43 $29,388.11 $66,858.85 $2,490,611.89
Sep $2,490,611.89 $12,030.87 $3,728.83 $8,302.04 $33,116.94 $75,160.89 $2,486,883.06
Oct $2,486,883.06 $12,030.87 $3,741.26 $8,289.61 $36,858.20 $83,450.50 $2,483,141.80
Nov $2,483,141.80 $12,030.87 $3,753.73 $8,277.14 $40,611.93 $91,727.64 $2,479,388.07
Dec $2,479,388.07 $12,030.87 $3,766.24 $8,264.63 $44,378.17 $99,992.27 $2,475,621.83
MORTGAGE AMORTAZATION
FINANCIALS
YEARLY SCHEDULE OF BALANCES AND PAYMENTS
MORTGAGE AMORTAZATION
FINANCIALS
Year Beginning Balance Payment Principal InterestCumulative Principal Cumulative Interest Ending Balance
2020 $2,475,621.83 $144,370.44 $46,185.18 $98,185.26 $90,563.35 $198,177.53 $2,429,436.65
2021 $2,429,436.65 $144,370.44 $48,067.86 $96,302.58 $138,631.21 $294,480.11 $2,381,368.79
2022 $2,381,368.79 $144,370.44 $50,026.22 $94,344.22 $188,657.44 $388,824.32 $2,331,342.56
2023 $2,331,342.56 $144,370.44 $52,064.37 $92,306.07 $240,721.81 $481,130.39 $2,279,278.19
2024 $2,279,278.19 $144,370.44 $54,185.55 $90,184.89 $294,907.36 $571,315.28 $2,225,092.64
2025 $2,225,092.64 $144,370.44 $56,393.15 $87,977.29 $351,300.51 $659,292.57 $2,168,699.49
2026 $2,168,699.49 $144,370.44 $58,690.70 $85,679.74 $409,991.21 $744,972.31 $2,110,008.79
2027 $2,110,008.79 $144,370.44 $61,081.85 $83,288.59 $471,073.06 $828,260.90 $2,048,926.94
2028 $2,048,926.94 $144,370.44 $63,570.42 $80,800.02 $534,643.48 $909,060.92 $1,985,356.52
2029 $1,985,356.52 $144,370.44 $66,160.37 $78,210.07 $600,803.85 $987,270.99 $1,919,196.15
2030 $1,919,196.15 $144,370.44 $68,855.85 $75,514.59 $669,659.70 $1,062,785.58 $1,850,340.30
2031 $1,850,340.30 $144,370.44 $71,661.14 $72,709.30 $741,320.84 $1,135,494.88 $1,778,679.16
2032 $1,778,679.16 $144,370.44 $74,580.73 $69,789.71 $815,901.57 $1,205,284.59 $1,704,098.43
2033 $1,704,098.43 $144,370.44 $77,619.26 $66,751.18 $893,520.83 $1,272,035.77 $1,626,479.17
2034 $1,626,479.17 $144,370.44 $80,781.59 $63,588.85 $974,302.43 $1,335,624.61 $1,545,697.57
2035 $1,545,697.57 $144,370.44 $84,072.76 $60,297.68 $1,058,375.18 $1,395,922.30 $1,461,624.82
2036 $1,461,624.82 $144,370.44 $87,498.01 $56,872.43 $1,145,873.20 $1,452,794.72 $1,374,126.80
2037 $1,374,126.80 $144,370.44 $91,062.82 $53,307.62 $1,236,936.01 $1,506,102.35 $1,283,063.99
2038 $1,283,063.99 $144,370.44 $94,772.86 $49,597.58 $1,331,708.87 $1,555,699.93 $1,188,291.13
2039 $1,188,291.13 $144,370.44 $98,634.05 $45,736.39 $1,430,342.91 $1,601,436.33 $1,089,657.09
2040 $1,089,657.09 $144,370.44 $102,652.55 $41,717.89 $1,532,995.47 $1,643,154.21 $987,004.53
2041 $987,004.53 $144,370.44 $106,834.77 $37,535.67 $1,639,830.24 $1,680,689.88 $880,169.76
2042 $880,169.76 $144,370.44 $111,187.39 $33,183.05 $1,751,017.63 $1,713,872.93 $768,982.37
2043 $768,982.37 $144,370.44 $115,717.33 $28,653.11 $1,866,734.96 $1,742,526.04 $653,265.04
2044 $653,265.04 $144,370.44 $120,431.84 $23,938.60 $1,987,166.80 $1,766,464.64 $532,833.20
2045 $532,833.20 $144,370.44 $125,338.42 $19,032.02 $2,112,505.21 $1,785,496.67 $407,494.79
2046 $407,494.79 $144,370.44 $130,444.90 $13,925.54 $2,242,950.11 $1,799,422.21 $277,049.89
2047 $277,049.89 $144,370.44 $135,759.42 $8,611.02 $2,378,709.53 $1,808,033.23 $141,290.47
2048 $141,290.47 $144,370.44 $141,290.47 $3,079.97 $2,520,000.00 $1,811,113.20 $0.00
