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RETAIL CENTER FOR LEASE

920-950 Hamilton Street - Somerset, NJ

Property Information

• Building Specifications - KFC: 2,020 SF, Walgreens: 10,352

SF, Retail 1: 12,927 SF, Retail 2: 13,000 SF

• Two units available:

- 2,500 SF is partially fit out for a restaurant with hoods

and new restaurant equipment

- 13,000 SF

• Private courtyard for tenants, with beautiful fresh landscaping

• Minutes away from Franklin Middle School, and Army National

Guard Recruiting Office Branch

• Easy Access to Routes 18, 27, 287, NJTP, and GSP, Rutgers

For Further Information,

Please Call:

Doug Sitar

Vice President

Office: 732-283-9000

Cell: 732-859-2144

[email protected]

Rob Bogash

Sales Associate

Office: 732-283-9000

Cell: 732-319-4680

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DEMOGRAPHICS

1 Mile

3 Mile

5 Mile

2010 Avg Household Income

$78,581

$87,162

$97,419

Walgreens

KFC

Exxon

Subway - Foot Locker - Bank of America

PNC Bank

Retail 1

Retail 2

For Further Information,

Please Call:

Doug Sitar

Vice President

Office: 732-283-9000

Cell: 732-859-2144

[email protected]

Rob Bogash

Sales Associate

Office: 732-283-9000

Cell: 732-319-4680

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(4)

DISTRICT

CATEGORY

G-B

General Business

PRINCIPLE USES

Retail goods and service stores except

body art establishments, including

but not limited to: food, drugs, drink,

household supplies, home appliance

stores, barber and beauty shops, shoe

repair and tailor shops, dry cleaning

shops, professional offices, banks,

restaurants

- Eating and drinking establishments

- Funeral homes

- Quasi-public or private club or

fraternity

- Indoor theaters

- Laundromat and dry cleaning

- Printing and publishing shops

- Proprietary schools

- Non-profit schools accredited by the

New Jersey Department of Education

- Plumbing supply and hardware stores

- Professional and general offices

- Bowling alleys

- Telephone, telegraph, and radio

communications offices and services

- Automobile salon and showroom

- Administrative and dispatch services

excluding the parking, storage, service,

fueling or repair of vehicles used in

such service or site (Added 12/12/89 by

Ordinance #1539

- Child care center (Added 4/9/02 by

Ordinance #3288)

ACCESSORY

USES

- Building

customary and

incidental to the

operation of the

principle use

CONDITIONAL USES

- Public utility installations

- Automobile service stations

- Garden apartment

developments

- Townhouse developments

- Nursing homes

- Billboards

- Wireless Communications

antennas in accordance

with the specific zoning

conditions, standards and

limitations for their location,

approval and operation

included within Subsection

112-9B (25) of this ordinance

(Added 5/22/01 by

Ordinance #3222)

ZONING

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Summary of Tenants

SUMMARY  OF  TENANTS,  INCOME  AND  EXPENSES  STATEMENT,  FRANKLIN  COURT  STRIP  MALL

Tenant  Name Suite  No. Sq  Ft. Base  Rent Annual  Rent Rent  per  sq.  ft. Lease  Start  Date Lease  End  Date Cam  Charge  Reimbers Tax  Charge  Reimbers % Vacant A1 2,342 $3,317.00 $39,814.00 17.000 $3,339 $11,650 6% Millenium  Nails A2 1,515 $2,398.25 $28,779.00 18.996 2014 $4,389 $7,536 4% Dairy  Queen A2A 1,310 $2,367.58 $28,410.96 21.688 2013 $3,838 $6,516 3% J  &  P  Laundramat A3 1,600 $2,622.00 $31,464.00 19.665 2019 $9,292 $7,959 4% Pizza  Palace A4 2,000 $4,120.00 $49,440.00 24.720 2018 Gross Gross 5% Sundry  Cleaners A5 1,520 $2,216.66 $26,599.92 17.500 2016 $4,995 $7,561 4% Yummy  Yummy A6 1,200 $3,713.64 $44,566.08 37.138 2016 $3,462 $5,969 3% Asanka  Delight A7 1,440 $1,653.75 $19,845.00 13.781 2011 $4,332 $7,163 3% Walgreen  (Ground  Lease) B 14,490 $12,500.00 $150,000.00 10.352 2073 $550 $72,077 35% Vacant  (Front) C1 6,500 $9,208.33 $110,500.00 17.000 $9,268 $32,333 15% Vacant  (Back) C2 6,500 $5,416.67 $65,000.00 10.000 $9,268 $32,333 15% KFC D1 2,380 $10,000.00 $120,000.00 50.420 2020 $5,502 11,839 6% Actual  gross  income 42,797 $41,592.08 $499,104.96 $36,360.87 $126,619.87 Potential  gross  income 42,797 $59,534.91 $714,418.96 $58,236.08 $202,935.01

CALCULATION  OF  ACTUAL  INCOME

Total  actual  gross  income  : $499,104.96 REIMBURSABLE  EXPENSES $$/YR

Total  actual  cam  charge  reimbursment  : $36,360.87 Landscaping $9,339.95 Total  Tax  Reimbursment $126,619.87 Sweeping $10,375.03 Total  actual  gross  income  : $662,085.70 Trash  Removal $11,282.76 Total  Actual  CAM  Expense ($55,178.52) Sewage $13,143.17

Total  Actual  Tax  Expense (208,720.08) Water $11,037.81

Total  Non-­‐Reimbursable  Expenses (17,843.07) TOTAL $24,180.78 $30,997.74

Total  actual  expenses  : (281,741.67) $55,178.52

Total  Rembursable  Expense

TOTAL  ACTUAL  NET  INCOME  : $380,344.03 With  15  %  Management  Fee $59,828.18

CALCULATION  OF  PROJECTED  INCOME NON  REIMBURSABLE  -­‐  REGULAR  EXPENSES

Total  projected  gross  income $714,418.96 Security   $1,764.14 Total  projected  cam  charge  reimbursement $59,828.18 Phone  for  Security  System $751.73 Total  Tax  reimbursement $202,935.01 Insurance $15,327.20 Total  projeted  gross  income $977,182.15 TOTAL $17,843.07

Total  Actual  CAM  Expense ($55,178.52) Total  Actual  Tax  Expense ($208,720.08) Total  projected  non-­‐reimbursed  expenses ($17,843.07) Total  actual  expenses ($281,741.67) TOTAL  PROJECTED  NET  INCOME $695,440.48

References

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