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COLONIAL PLAZA384 Larkfield RoadEast Northport, New York
OFFERED FOR SALE @ $1,350,000
1,000 +/- SF Front Unit Available to a User with possible expansion to 1,850 +/- SF
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CONFIDENTIALITY AND DISCLAIMER
The information contained in the following Marketing Brochure is proprietary and strictlyconfidential. It is intended to be reviewed only by the party receiving it from Cushman &Wakefield and should not be made available to any other person or entity without the writtenconsent of Cushman & Wakefield. This Marketing Brochure has been prepared to providesummary, unverified information to prospective purchasers, and to establish a preliminary levelof interest in the subject property.
The information contained herein is not a substitute for a thorough due dil igence investigation.Cushman & Wakefield has not made any investigation, and makes no warranty or representation,with respect to the income or expenses for the subject property, the future projected financialinformation of the property, the size and square footage of the property and improvements,the presence or absence of contaminating substances, PCB’s or asbestos, the compliance withState and Federal regulations, the physical condition of the improvements thereon, or thefinancial condition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property. The information contained in this MarketingBrochure has been obtained from sources we believe to be reliable; however, Cushman &Wakefield has not verified, and will not verify, any of the information contained herein, norhas Cushman & W akefield conducted any investigation regarding these matters and makesno warranty or representation whatsoever regarding the accuracy or completeness of theinformation provided. All potential buyers must take appropriate measures to verify all of theinformation set forth herein.
COLONIAL PLAZA
Introduction | Transaction Procedures
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Property Tours
All tours are by appointment only. To schedule a tour please contact:
DAVID MADIGAN
Senior DirectorDirect: +1 631 425 1213
VALERIE AVELLINOSenior Administrative Assistant and Marketing
Direct: +1 631 546 5851
Terms andConditions
The fee simple interest in Colonial Plaza is being offered for sale.
Timing
Offers must indicate the length of the Due Diligence period for the individual items and the Closing time frame.
InvestorIdentification
The purchasing entity should identify the owners/partners thereof and a resume outlining their relevantownership and/ or management experience of comparable affordable rent restricted properties, as well
as a statement of their financial net worth.
ConfidentialityAgreement and
Access to Box.com
After executing a confidentiality agreement and approval you will be senta Box.com link & password to access the full offering materials for this asset.
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TABLE OF CONTENTS
Section 1 Property Description
•••••••
Investment OverviewCommercial Tenants Location OverviewAffordable RestrictionsProperty SummaryAmenitiesPhotos
Section 2 Projected and Actual Income
Section 3 Demographic Analysis
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Section 1 - PROPERTY DESCRIPTION
COLONIAL PLAZA
Property Description | Investment Overview
C u s h m a n & W a k e f i e l d i s p l e a s e d t o a n n o u n c e f o r s a l e C o l o n i a l P l a z a , an e i g h b o r h o o d s t r i p c e n t e r l o c a t e d i n E a s t N o r t h p o r t . T h i s 4 , 5 0 0 + / -s q u a r e f o o t c e n t e r e n j o y s 5 . 5 c a r p a r k i n g p e r 1 0 0 0 S F o f s p a c e . T h i sl o c a t i o n b o a s t s a 7 4 r a t i n g o n t h e R e d F i n W a l k S c o r e .
BELOW MARKET LEASES
WELL MAINTAINED, MODERN BUILDING
LOCATED NEAR DINING AND SHOPPING
GREAT FIRST PURCHASE OR ADD TO YOUR PORTFOLIO
DEEP MARKET WITH MANY TENANTS
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INCOME UPSIDE OVER NEXT FEW YEARS
COLONIAL PLAZA
Property Description | LOCATION
Located in Suffolk County, New York, T h e h a m l e t o f E a s tN o r t h p o r t offers the best of Long Island comfort with the connections
and energy of s u b urban active life. Situated in western Long Island,Colonial Plaza is approximately 50 miles east of Manhattan, making it a
highly desirable and convenient location to live. The Township of Huntingtoncontains a predominantly upper middle class population of approximately
200,000, making it one of the most populated of any town in Suffolk County.
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COLONIAL PLAZA
| Property SummaryProperty Description
THE OFFERING
Property
ColonialPlaza
Property Address
384 Larkfield Rd, East Northport, NY
Assessor’s Parcel Number
176.00-01.00-037.000
UTILITIES
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Water
Suffolk County Water
District
Phone
Various
Electric / Gas
PSEG
MECHANICAL CONSTRUCTION
Exterior
Masonry
Parking Surface
Asphalt 25spaces
HVAC
Entire Premise
Fire Protection
Yes
# of Tenants Lot Size Rentable SF Parking Landscaping Topography
4 .46 acre 4,500 SF 25 Some tree & grassy areas
Flat
THE OFFERING
Building Photos
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Aerial
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Overview Aerial
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TOH Property Information
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SCTM
Book No
0400-176.00-01-00-037.000
22 Sect 176-183
Address 384 LARKFIELD RD EAST NORTHPORT 11731
Acreage 0.46
Owner LARKFIELD REALTY ASSOC, INC
Character of Property 464 - Office Building
Zoning SPLIT ZONED C6 & R5
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Section 2 – Projected and Actual Income
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COLONIAL PLAZA
PROJECTED AND ACTUAL INCOME
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This property is part of an estate sale. The previous owners did not take advantage of the usual and customary pass-throughs of typical common area and other charges. There is a 14.3% core area which was never passed through to the tenants. Also some leases were Full Service in nature but were charged below market rents even for typical Modified Gross or Net leases.
The cash flows are represented two ways below. The first is a projected rent should the building have been managed and leased in a more conventional way. The second set of numbers are the actuals.
PROJECTED CASH FLOWS
Section 3 - DEMOGRAPHIC ANALYSIS
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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COLONIAL PLAZA
Demographic Analysis | Demographic Report
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Contact:
DAVID PENNETTA SIOR, LEED GAExecutive Director
Direct: Fax:
+1 631 425 1240+1 631 425 1201
DAVID MADIGANSENIOR DIRECTOR
Direct: Fax:
+1 631 425 1213+1 631 425 1201
VALERIE AVELLINOSenior Administrative Assistant and Marketing
Direct: Fax:
+1 631 546 5851+1 631 425 1202
