140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
140-144 Jericho Turnpike Mineola, NY 11050
CONFIDENTIAL OFFERING MEMORANDUM
For further information or inspection, please contact Exclusive Agents:
Marlon Suarez and Sage SalzerReal Estate Sales Specialists
[email protected], [email protected]
NATHAN KAMARA SANDRA MARTINI
516-424-1404
516-445-3750
KELLER WILLIAMS OF GREATER NASSAU
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
CONFIDENTIALITY & CONDITIONS
This is a confidential brochure intended solely for your limited use and benefit in determining whether you desire to express any further interest in the purchase of 140-144 Jericho Turnpike, Mineola, New York 11050 (the “Property”).
This brochure was prepared by New York Residence, Inc., (“NYR”) and has been reviewed by representatives of Ownership. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information which prospective purchasers may desire. It should be noted that all financial projections are provided for general reference purposes only in that they are based on assumptions relating to the general economy, competition, and other factors beyond the control of NYR, or Owner and, therefore, are subject to material variation. Additional information and an opportunity to inspect the Property and plans will be made available to interested and qualified investors. Neither Owner, NYR nor any of their respective officers nor employees, have made any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitments or obligations shall arise by reason of this brochure or any of its contents. All square footage measurements must be independently verified.
Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligation to any entity reviewing this brochure or making an offer to purchase the Property unless and until a written agreement satisfactory to Owner has been fully executed, delivered, and approved by Owner and any conditions to Owner obligations thereunder have been satisfied or waived.
By receipt of this brochure, you agree that this brochure and its contents are of a confidential nature, that you hold and treat it in the strictest confidence, and that you will not disclose this brochure or any of its contents to any other entity without the prior written authorization of Owner nor will you use this brochure or any of its contents in any fashion or manner detrimental to the interest of Owner or NYR.
It is essential that all parties to real estate transactions be aware of the health, liability and economic impact of environmental factors on real estate. NYR does not conduct investigations or analysis of environmental matters and, accordingly, urges its clients to retain qualified environmental professionals to determine whether hazardous or toxic wastes or substances (such as asbestos, PCB’s and other contaminants or petrochemical products stored in underground tanks) or other undesirable materials or conditions,
are present at the Property and, if so, whether any health danger or other liability exists.
Such substances may have been used in the construction or operation of buildings or may
be present as a result of previous activities at the Property.
Various laws and regulations have been enacted at the federal, state and local levels
dealing with the use, storage, handling, removal, transport and disposal of toxic or
hazardous wastes and substances. Depending upon past, current and proposed uses of
the Property, it may be prudent to retain an environmental expert to conduct a site
investigation and/or building inspection. If such substances exist or are contemplated to be
used at the Property, special governmental approvals or permits may be required. In
addition, the cost of removal and disposal of such materials may be substantial.
Consequently, legal counsel and technical experts should be consulted where these
substances are or may be present.
While this brochure contains physical description information, there are no references to
condition. Neither Owner nor NYR make any representation as to the physical condition of the Property. Prospective purchasers should conduct their own independent
engineering report to verify property condition.
In this brochure, certain documents, including leases and other materials, are described insummary form. The summaries do not purport to be complete nor, necessarily, accurate
descriptions of the full agreements involved, nor do they purport to constitute a legal
analysis of the provisions of the documents. Interested parties are expected to review
independently all relevant documents.
The terms and conditions stated in this section will relate to all of the sections of the
brochure as if stated independently therein. If, after reviewing this brochure, you have no
further interest in purchasing the Property at this time, kindly return this brochure to NYR at your earliest possible convenience. Photocopying or other duplication is not authorized.
This brochure shall not be deemed an indication of the state of affairs of Owner, nor
constitute an indication that there has been no change in the business or affairs of
Owner since the date of preparation of this brochure.
Once you have expressed an offer to acquire the property and have demonstrated certain
bona fides satisfactory to owner, certain further and additional information may be provided
in order for you to complete your due diligence investigation; e.g. complete and detailed
rent roll, expense pass-through's.
Zoning is a critical factor in the value of this property. All zoning information must be
independently verified.
New York Residence offers a full range of residential and commercial real estate services and is one of New York’s leading firms in its field.
The strongest team in the industry, an unsurpassed local and international network and solid hard work help us to surpass our clients’ expectations every day when it comes to buying and renting property in New York area.
Founded in 2003, we are proud to have successfully facilitated several billion dollars in transaction volume.Our dedicated on-site team represents some of the city’s best high-profile developments.
We are dedicated to fulfilling all of our clients real estate needs. In this time of unparalleled growth, opportunity, and competition, you need a brokerage firm committed to your needs and best interests; a brokerage firm that will always be there for you.
Contact New York Residence and make us your "brokers for life."
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
140-144 Jericho Turnpike
Mineola, New York 11501CONFIDENTIAL OFFERING MEMORANDUM
North West Front Corner View South East Rear View
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
I. Introduction & Highlights……………………………… 6 - 8
Executive Summary
Location Map
Location & Tax Map
II. Photos…………………………………………………… 9
Aerial Photo
III. Property Summaries…………………………………… 10 - 11
Property Overview
Income & Expense Summary
IV. Neighborhood Information……………………………… 12 - 13
Neighborhood Description
District Demographics
V. Transportation Information……………………………… 14
Transportation Description
Transportation Maps
VI. Zoning Information………………………………….…… 15 - 16
Zoning Map
Zoning Information
TABLE OF CONTENTS
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
EXECUTIVE SUMMARY
Introduction
New York Residence, Inc. ("NYR") has been retained on an exclusive basis by ownership to arrange for the
sale of 140-144 Jericho Turnpike, Mineola New York
11501 inNassau County, Long Island. The subject property
consists of a Commercial / Retail building with 11,400
(approx.) gross square feet and a equal sized 11,400
(approx.) square foot basement on a 22,974 square foot
parcel. The property is located on a very busy traffic light
intersection on the corner of Jericho Turnpike and Willis
Avenue.
Property Description
The subject property is a (1) story commercial building
with (5) retail spaces and a large parking lot that can
accommodate 32 vehicles. The building and the parking
lot are on independent tax lots. The property is ideally
located in the center of a very a busy shopping area with
restaurants, retail and offices in direct proximity. Public
transportation is within a short walk from the property.
The property poses a good opportunity for an owner-
user or a investor. Showings are available on request
and by appointment only.
Zoning
The property is located in the GB (General Business)zoning district which allows for multiple uses. See theZoning section of this Offering Memorandum.
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
LOCATION MAP
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
LOCATION & TAX MAP
Section: 9
Block:
Lots:
322
212 & 213
The subject property is a singlestory 11,400 Sq. Ft. buildingdivided into (5) retail spaceswith a parking lot that canaccommodate approximately 32vehicles on a parcel ofapproximately 22,974 Sq. Ft.The property is located on thecorner of Jericho Turnpike andWillis Avenue in the Village ofMineola.
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
AERIAL PHOTOS
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
Address: 140-144 Jericho Turnpike, Mineola, NY 11501
Location: On the Northwest corner of Jericho Turnpike and
Willis Avenue
Sec: 9
Block: 32
Lot: 212 & 213
Lot Dimensions: 100' x 220’ (reg.)
Building Square Feet: 11,454 (Approx.)
Stories: 1
Zoning: B-2 (General Business)
Lot Size: 22,974 sq. ft. (approx.)
Parking: 32 Car Private Parking Lot
Taxes (13/14): $92,558
PROPERTY OVERVIEWDescription:
The subject property is a (1) story retail
building with a total of 11,400 (approx.) Sq.
Ft. of leasable space with a parking lot
behind the property to accommodate
approximately 32 vehicles. The total
combined lot size is 22,974 SF. Located on
a very busy intersection in the Village of
Mineola on Jericho Turnpike and Willis
Avenue.
$101,064.00
Village Taxes $10,825.00
+ Basement
$105,199
14-144 Jericho Turnpike, Mineola, New York Confidential Offering Memorandum
PROPERTY INCOME & EXPENSE
5,500
66,000
Projected
Projected
Actual
Projected
Projected
Actual
Projected
Taxes
Insurance
Maintinance
Projected Net income
15,000
10,000
5,500 31.43
417,20034,768
106,024
286,176
3,967
3,967
34 47,600
34 47,600
140-144 Jeriho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
NEIGHBORHOOD DESCRIPTIONThe land now known as Mineola was originally part of Henry Hudson's
original claim in the name of the Dutch East India Company dating as
far back as 1609. By the 19th century the Dutch and English settlers
worked to clear land for farming to start their life on the Hempstead
Plains. It was in 1858 when this land became known as Mineola,
named after an Algonquin Indian Chief, Miniolagamika meaning,
"Pleasant Village." The name was later shortened and altered to
"Mineola."
Mineola was legally incorporated in 1906 and run by a president. The
president and Trustees worked to meet the needs of the growing
community and later became the judicial and legislative heart of
Nassau County. The County Seat found it's home in Mineola on Friday
July13, 1900, Governor Theodore Roosevelt laid the cornerstone of the
Nassau County Court House.
Winthrop-University Hospital, originally founded in 1896 by local
physicians and residents as Nassau Hospital, was Long Island's first
voluntary hospital. In 1897, it admitted 91patients, performed 27
operations, and reported two births and eight deaths during the first
year. The original hospital was constructed in 1900. Today, Winthrop
is a nationally recognized award winning hospital and in 2004 was
ranked among the Top 5 Percent of Acute-Care Hospitals in the
Country.
Mineola was also a familiar place to many of the most famous pilots inhistory. The Wright Brothers, Igos Sikorsky, Captain Rene Fonac, and
the famed duo of Clarence Chamberlain and Bert Acosta, dubbed
"twins of derring-do," all spent time in Mineola taking advantage of the
rolling grasslands and favorable winds. On May 20, 1927 at 7:52am,
Charles Lindbergh started his historic flight from nearby Roosevelt
Field. Thirty-three hours later he landed in Paris and became the first
person to complete a solo flight across the Atlantic Ocean.
Main Street was the center of village business as well as a popular
meeting place for farmers and the business community alike. The
general store offered an array of goods that would fulfill most
everyday needs, such as hardware, toys, wool, dry goods, clothing
and food. The small glass-fronted mail and delivery boxes filled the
existing six-foot post office. As the Mineola population grew, the
post office was relocated to the Meyer Building on Mineola
Boulevard and then twice more to 3rd Street and 2nd Street. It
eventually found it's permanent home on 1st Street and Main Street.
Mineola's first theatre named Allen's Hall drew in many early
moviegoers to see "the flickers." Motion picture success drew in
other theaters to the area, the most lavish being the Century Opera
House. Most theaters had a showing in the morning and in the
evening, usually featuring a live pianist who kept up with the action
of the movie while playing music that suited the story.
As years passed, Jericho Turnpike was turning into the "main
street," farmland was being sold off and homes and offices were
being built. Mineola has continued to be a community of growth
and development.
The Village of Mineola has a history of which to be proud. It has
become an outstanding residential suburban community that is
home to more than 20,000 residents and enjoys a strong local
economy.
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
DISTRICT DEMOGRAPHICSAs of the census of 2010, there were 18,799 people, 7,473 households,
and 4,954 families residing in the village. The population density was
10,337.3 people per square mile (3,992.6/km²). There were 7,650 housing
units at an average density of 4,111.5 per square mile (1,588.0/km²). The
racial makeup of the village was 81.7% White, 71.5% Non-Hispanic White,
2.0% African American, 0.2% Native American, 8.5% Asian, 0.0% Pacific
Islander, 5.3% from other races, and 2.3% from two or more races. 16.4%
of the population is Hispanic or Latino of any race.
There were 7,473 households out of which 27.0% had children under the
age of 18 living with them, 53.2% were married couples living together,
9.3% had a female householder with no husband present, and 33.7% were
non-families. 29.1% of all households were made up of individuals and
11.8% had someone living alone who was 65 years of age or older. The
average household size was 2.57 and the average family size was 3.20.
In the village the population was spread out with 20.2% under the age of
18, 7.4% from 18 to 24, 34.1% from 25 to 44, 22.6% from 45 to 64, and
15.7% who were 65 years of age or older. The median age was 38 years.
For every 100 females there were 92.5 males. For every 100 females age
18 and over, there were 89.6 males.
The median income for a household in the village was $60,706, and the
median income for a family was $71,042. Males had a median income of
$47,182 versus $37,057 for females. The per capita income for the village
was $28,890. About 2.6% of families and 4.2% of the population were
below the poverty line, including 3.5% of those under age 18 and 5.4% of
those age 65 or over.
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
TRANSPORTATION DESCRIPTION
Long Island Railroad Information & Map Transportation Bus Map
Nassau Inter-County Express (NICE)Mineola is a station on the Main Line of the Long Island Rail Road in the
village of Mineola, New York. All trains for the Port Jefferson, Ronkonkoma,
and Oyster Bay branches run through this station, as well as a few for the
Montauk Branch. As of May 2011, 145 trains stop at this station every
weekday, more than any other station east of Jamaica. It is the eighth-
busiest station on the LIRR in terms of weekday boarding's, with 10,348
boarding's per day on the average.
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
ZONING MAPThe subject property is located in Business B-1 Zoning District
Source: The Village of Mineola
140-144 Jericho Turnpike, Mineola, New York 11501 – Confidential Offering Memorandum
ZONING INFORMATION