FOR SALE 717.293 - Zetabid · 2021 Average Household Income $47,599 $53,391 $56,332 2016-2021...

BROAD STREET NANTICOKE, PA

FOR SALE 717.293.4477

1853 William Penn Way Lancaster, PA 17601 717.293.4477 www.highassociates.com

• Property Profile

• Rent Roll

• Income and Expenses

• Financial Analysis

• Location Map

• Aerial Photo

• Demographics

• Disclaimer

Table of Contents 717.293.4477


Property Address 135 South Hanover Street

60 – 62 West Broad Street & 78 West Broad Street

Nanticoke, PA 18634

Assessor's Parcel Number J7SW2004010 Zoning CN-Commercial County Luzerne Site Description Number of Units 16 Multi-Family Units

1 Commercial 1 Office Space

Rentable Square Feet 20,900 Square Feet Lot Size 0.46 Acres Type of Ownership Fee Simple Parking Off-Street Topography Flat

Utilities Water Landlord Sewer Landlord Heat Tenant Electric Tenant

Construction Foundation Concrete Framing Wood Exterior Siding Parking Surface Asphalt Roof Shingles and Tar

Mechanical HVAC Gas Boilers/Electric

Baseboard

717.293.4477 Property Summary



Total Units: 6 135 S Hanover Unit Type Baths Sq. Ft. Rent Rent/SF Mkt Rent Rent/SF Utilities

1 2 Bed 1 Bath 900 $595 $0.66 $595 $0.66 Tenant

2 2 Bed 1 Bath 900 $595 $0.66 $595 $0.66 Tenant 3 2 Bed 1 Bath 900 $550 $0.61 $595 $0.66 Tenant 4 2 Bed 1 Bath 900 $550 $0.61 $595 $0.66 Tenant 5 2 Bed 1 Bath 900 $595 $0.66 $595 $0.66 Tenant 6 2 Bed 1 Bath 900 $550 $0.61 $595 $0.66 Tenant

5400 $3,435

Total Units: 6

62-64 W Broad St.

1 3 Bed 1.5 Bath 1400 $475 $0.34 $695 $0.50 Tenant 2 3 Bed 1.5 bath 1400 $695 $0.50 $695 $0.50 Tenant

2800 $1,170

66 W Broad St.

1 3 Bed 1 Bath 1100 $625 $0.57 $625 $0.57 Tenant 2 3 Bed 1 Bath 1100 $595 $0.54 $625 $0.57 Tenant 3 2 Bed 1 Bath 910 $595 $0.65 $595 $0.65 Tenant vacant

4 2 Bed 1 Bath 910 $550 $0.60 $595 $0.65 Tenant

4020 $2,365

717.293.4477 2017 Rent Roll


Broad Street Page Two

Total Units: 6

78 W Broad

1 2 Bed 1 Bath 1050 $550 $0.52 $650 $0.62 Tenant 2 2 Bed 1 Bath 1050 $550 $0.52 $650 $0.62 Tenant 3 2 Bed 1 Bath 1200 $650 $0.54 $650 $0.54 Tenant 4 1 Bed 1 Bath 900 $550 $0.61 $550 $0.61 Tenant Commercial

1 Bath 1676 $695 $0.41 $695 $0.41 Tenant vacant

Office

1 Bath 1056 $300 $0.28 $300 $0.28 Tenant vacant

6932 $3,295



Total Number of Units: 18

Total Square Footage:

Income Current Per Unit Gross Potential Rent $123,180 6,843 Vacancy/ Collection Allowance (6%) $7,391 411 Effective Gross Income $115,789 $6,433

Expenses Total Expenses Per Unit Taxes $9,363 $520 Insurance $8,570 $476 Electric $1,134 $63 Water $7,806 $434 *Management (8%) $9,854 $547 Repairs and Maintenance $1,720 $96 Sewer $6,035 $335 Gas/ Electric Heat $1,355 $75 Trash $2,323 $129 *Reserves $4,500 $250

Total Expenses $52,660 $2,926 % of EGI 42.75%

Net Income $63,129 $3,507

*Inserted Management Fee of 8% *Inserted reserves at $250 per unit

717.293.4477 Income & Expenses



Pricing

List Price $600,000 Down Payment 20% $120,000 Number of Units 18 Price Per Unit $33,333 Cap Rate 10.50%

Financing

Loan Amount $480,000 Loan Type New Interest Rate 4.50% Amortization 20 Years

Income Current Gross Potential Rent $123,180 Gross Potential Income $123,180 Less: Vacancy ($6,159) Effective Gross Income $117,021 Less: Expenses $52,660 Net Operating Income $64,361 Debt Service $36,444 Debt Coverage Ratio 1.77 Net Cash After Debt Service $27,917 Cash on Cash Return 23.26%

717.293.4477 Financial Analysis



717.293.4477 Location Map



717.293.4477 Aerial Photo


Site Map179 S Market St, Nanticoke, Pennsylvania, 18634 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 41.20289

Longitude: -76.00344

March 07, 2017

©2016 Esri Page 1 of 1

Executive Summary179 S Market St, Nanticoke, Pennsylvania, 18634 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 41.20289


1 mile 3 miles 5 milesPopulation

2000 Population 9,698 17,230 41,9132010 Population 9,335 16,522 40,9672016 Population 9,248 16,539 40,7942021 Population 9,179 16,507 40,6292000-2010 Annual Rate -0.38% -0.42% -0.23%2010-2016 Annual Rate -0.15% 0.02% -0.07%2016-2021 Annual Rate -0.15% -0.04% -0.08%2016 Male Population 47.9% 48.0% 52.0%2016 Female Population 52.1% 52.0% 48.0%2016 Median Age 43.6 44.9 42.7

In the identified area, the current year population is 40,794. In 2010, the Census count in the area was 40,967. The rate of change since 2010 was -0.07% annually. The five-year projection for the population in the area is 40,629 representing a change of -0.08% annually from 2016 to 2021. Currently, the population is 52.0% male and 48.0% female.

Median Age

The median age in this area is 43.6, compared to U.S. median age of 38.0.Race and Ethnicity

2016 White Alone 93.7% 94.7% 88.2%2016 Black Alone 2.4% 2.2% 7.3%2016 American Indian/Alaska Native Alone 0.2% 0.1% 0.1%2016 Asian Alone 0.6% 0.5% 0.6%2016 Pacific Islander Alone 0.0% 0.0% 0.0%2016 Other Race 1.3% 1.0% 1.9%2016 Two or More Races 1.8% 1.6% 1.8%2016 Hispanic Origin (Any Race) 4.9% 4.0% 5.2%

Persons of Hispanic origin represent 5.2% of the population in the identified area compared to 17.9% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 29.3 in the identified area, compared to 63.5 for the U.S. as a whole.

Households2000 Households 4,384 7,464 16,7072010 Households 4,265 7,269 16,2742016 Total Households 4,227 7,283 16,2262021 Total Households 4,196 7,267 16,1622000-2010 Annual Rate -0.27% -0.26% -0.26%2010-2016 Annual Rate -0.14% 0.03% -0.05%2016-2021 Annual Rate -0.15% -0.04% -0.08%2016 Average Household Size 2.18 2.24 2.30

The household count in this area has changed from 16,274 in 2010 to 16,226 in the current year, a change of -0.05% annually. The five-year projection of households is 16,162, a change of -0.08% annually from the current year total. Average household size is currently 2.30, compared to 2.31 in the year 2010. The number of families in the current year is 9,968 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021. Esri converted Census 2000 data into 2010 geography.

March 07, 2017


Executive Summary179 S Market St, Nanticoke, Pennsylvania, 18634 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 41.20289


1 mile 3 miles 5 milesMedian Household Income

2016 Median Household Income $34,852 $38,424 $39,2262021 Median Household Income $31,380 $34,787 $36,6572016-2021 Annual Rate -2.08% -1.97% -1.35%

Average Household Income

2016 Average Household Income $45,513 $50,587 $53,0992021 Average Household Income $47,599 $53,391 $56,3322016-2021 Annual Rate 0.90% 1.08% 1.19%

Per Capita Income2016 Per Capita Income $20,742 $22,461 $22,3142021 Per Capita Income $21,686 $23,685 $23,6102016-2021 Annual Rate 0.89% 1.07% 1.14%

Households by IncomeCurrent median household income is $39,226 in the area, compared to $54,149 for all U.S. households. Median household income is projected to be $36,657 in five years, compared to $59,476 for all U.S. households

Current average household income is $53,099 in this area, compared to $77,008 for all U.S. households. Average household income is projected to be $56,332 in five years, compared to $84,021 for all U.S. households

Current per capita income is $22,314 in the area, compared to the U.S. per capita income of $29,472. The per capita income is projected to be $23,610 in five years, compared to $32,025 for all U.S. households Housing

2000 Total Housing Units 4,965 8,387 18,8472000 Owner Occupied Housing Units 2,668 5,029 11,3762000 Renter Occupied Housing Units 1,716 2,434 5,3302000 Vacant Housing Units 581 924 2,141

2010 Total Housing Units 4,871 8,284 18,7362010 Owner Occupied Housing Units 2,438 4,702 10,6052010 Renter Occupied Housing Units 1,827 2,567 5,6692010 Vacant Housing Units 606 1,015 2,462



Currently, 54.2% of the 18,822 housing units in the area are owner occupied; 32.0%, renter occupied; and 13.8% are vacant. Currently, in the U.S., 55.4% of the housing units in the area are owner occupied; 32.9% are renter occupied; and 11.7% are vacant. In 2010, there were 18,736 housing units in the area - 56.6% owner occupied, 30.3% renter occupied, and 13.1% vacant. The annual rate of change in housing units since 2010 is 0.20%. Median home value in the area is $96,509, compared to a median home value of $198,891 for the U.S. In five years, median value is projected to change by 4.29% annually to $119,062.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021. Esri converted Census 2000 data into 2010 geography.

March 07, 2017


Information furnished regarding property for sale or rent is from sources deemed reliable, but is not guaranteed. No warranty or representation is made as to accuracy thereof and is submitted subject to errors, omissions, change of price, or other conditions, prior sale or lease or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.

FOR SALE 717.293 - Zetabid · 2021 Average Household Income $47,599 $53,391 $56,332 2016-2021...

Documents

Transcript of FOR SALE 717.293 - Zetabid · 2021 Average Household Income $47,599 $53,391 $56,332 2016-2021...