new brighton center - loopnet...property description new brighton center 1005 3rd avenue new...

NEW BRIGHTON CENTER1005 3rd AvenueNew Brighton, PA 15066

William GrundzaBroker724-266-2554icrgleads@yahoo.com

Table of Contents

Property Description ................................................. 3

Annual Property Operating .................................. 4

Lease Rent Roll ......................................................... 5

Base Rent Report ...................................................... 6

Loan Analysis ............................................................. 7

Detailed General .......................................... 8

Cash Flow Analysis ................................................... 9

Investment Return ......................................... 10

Financial Indicators ................................................... 11

Annual Property Operating Data per Sq. ................. 12

Cumulative Analysis .................................................. 13

Operating Income .......................................... 14

Equity vs. Debt ........................................................... 15

Property Equity Analysis ........................................... 16

Cumulative Wealth ......................................... 17

Property DescriptionNew Brighton Center

1005 3rd AvenueNew Brighton, PA 15066

NEW BRIGHTON CENTER | A TRIPLE NET INVESTMENT

The Investors Commercial Realty Group is proud to offer for sale 1005 Third Avenue. A 4,854 square foot triple-

net leased property. Perfect for an investor looking to start their portfolio. Great tenant with an even better

business plan. 100% leased by “Tightwad Tobacco”, a local company with stores in Pennsylvania and Ohio.

Tightwad has been in this location since 2010 and has just renewed a five-year triple-net lease with substantial

increases proving this is to be one of their most profitable locations. The lease is strong with both corporate and

personal guarantees. The tenant does have one five-year option to renew. Building is located on the corner of

Third Avenue and 10th Street in the center of the town of New Brighton, Pennsylvania. The New Brighton Center is

a focal point of the town. Third Avenue is a four-lane state highway also known as State Routes 65 and 18. This is

a high traffic highly visible location. The building is approximately 10 years old built of masonry construction. Both

on-street and off-street parking lot for 12 vehicles provides easy access for drive-in and walk-up customers.

Sidewalks have recently replaced. Parking lot will be sealed and striped as soon as weather permits. Nothing for

an investor to do but collect the rent.

Annual PropertyNew Brighton Center

Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10

Rental Income $46,113 $46,113 $46,497 $50,724 $50,724 $50,724 $50,724 $51,149 $55,821 $55,821

Expense Reimbursements $12,135 $12,135 $12,135 $12,135 $12,135 $12,135 $12,135 $12,135 $12,135 $12,135

Owner Management Fee $1,212 $1,212 $1,212 $1,212 $1,212 $1,212 $1,212 $1,212 $1,212 $1,212

GROSS SCHEDULED INCOME $59,460 $59,460 $59,844 $64,071 $64,071 $64,071 $64,071 $64,496 $69,168 $69,168

GROSS OPERATING INCOME $59,460 $59,460 $59,844 $64,071 $64,071 $64,071 $64,071 $64,496 $69,168 $69,168

Expenses

Replacement Reserves ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214)

Building Insurance ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600)

Misc ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645)

Taxes - Real Estate ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690)

Snow Removal ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200)

TOTAL OPERATING EXPENSES ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349)

NET OPERATING INCOME $46,112 $46,112 $46,496 $50,723 $50,723 $50,723 $50,723 $51,148 $55,820 $55,820

Lease Rent RollNew Brighton Center

Suite Tenant Start Date Expire Date RSF $/RSF Annualized Tenant Commissions Renewal Renewal Notes

Tightwad Tobacco 12/01/2018 11/30/2023 4,854 $9.50 $46,113 $0.00 $0.00 5 years $0.00

Base Rent ReportNew Brighton Center

Total Income $46,113 $46,113 $46,497 $50,724 $50,724 $50,724 $50,724 $51,149 $55,821 $55,821

Tightwad Tobacco $46,113 $46,113 $46,497 $50,724 $50,724 $50,724 $50,724 $51,149 $55,821 $55,821

Loan AnalysisNew Brighton Center

LOAN 1

Debt Service Analysis

Principal Payments $11,596 $12,220 $12,877 $13,569 $14,299 $15,068 $15,879 $16,733 $17,632 $18,581

Interest Payments $20,677 $20,054 $19,397 $18,704 $17,974 $17,205 $16,395 $15,541 $14,641 $13,693

Total Debt Service $32,273 $32,273 $32,273 $32,273 $32,273 $32,273 $32,273 $32,273 $32,273 $32,273

Principal Balance Analysis

Beginning Principal Balance $399,120 $387,524 $375,304 $362,428 $348,858 $334,559 $319,491 $303,612 $286,880 $269,248

Principal Reductions $11,596 $12,220 $12,877 $13,569 $14,299 $15,068 $15,879 $16,733 $17,632 $18,581

Ending Principal Balance $387,524 $375,304 $362,428 $348,858 $334,559 $319,491 $303,612 $286,880 $269,248 $250,667

Detailed GeneralNew Brighton Center

Total Expenses ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349)

Replacement Reserves ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214) ($1,214)

Building Insurance ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600) ($1,600)

Misc ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645) ($645)

Taxes - Real Estate ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690) ($6,690)

Snow Removal ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200) ($3,200)

Cash Flow AnalysisNew Brighton Center

GROSS SCHEDULED INCOME $59,460 $59,460 $59,844 $64,071 $64,071 $64,071 $64,071 $64,496 $69,168 $69,168

Total Operating Expenses ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349) ($13,349)

NET OPERATING INCOME $46,112 $46,112 $46,496 $50,723 $50,723 $50,723 $50,723 $51,148 $55,820 $55,820

Loan Payment ($32,273) ($32,273) ($32,273) ($32,273) ($32,273) ($32,273) ($32,273) ($32,273) ($32,273) ($32,273)

NET CASH FLOW (b/t) $13,838 $13,838 $14,222 $18,449 $18,449 $18,449 $18,449 $18,874 $23,546 $23,546

Cash On Cash Return b/t 12.49% 12.49% 12.84% 16.65% 16.65% 16.65% 16.65% 17.04% 21.26% 21.26%

* b/t = before taxes;a/t = after taxes

Investment ReturnNew Brighton Center

Cash Flow - To Date $13,838 $27,676 $41,899 $60,348 $78,798 $97,247 $115,697 $134,571 $158,117 $181,663

Net Resale Proceeds $112,577 $126,011 $140,101 $154,884 $170,396 $186,678 $203,770 $221,716 $240,562 $260,356

Invested Capital ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778)

Net Return on Investment $15,638 $42,909 $71,222 $104,454 $138,416 $173,147 $208,689 $245,509 $287,901 $331,242

Internal Rate of Return 14.12% 18.78% 19.87% 20.68% 20.88% 20.82% 20.63% 20.41% 20.32% 20.17%

Modified IRR 14.12% 17.79% 18.00% 18.06% 17.60% 16.98% 16.34% 15.72% 15.29% 14.84%

NPV (cash flow + reversion) $15,638 $42,909 $71,222 $104,454 $138,416 $173,147 $208,689 $245,509 $287,901 $331,242

PV (NOI + reversion) $545,000 $591,111 $637,607 $688,330 $739,053 $789,775 $840,498 $891,646 $947,465 $1,003,285

* a/t = after taxes; Modified IRR = Modified Internal Rate of Return; PV = Present Value; NPV = Net Present Value; NOI = Net Operating Income

Financial IndicatorsNew Brighton Center

Gross Rent Multiplier 8.39 8.39 8.34 7.79 7.79 7.79 7.79 7.74 7.21 7.21

Capitalization Rate 9.24% 9.24% 9.32% 10.17% 10.17% 10.17% 10.17% 10.25% 11.19% 11.19%

Cash On Cash Return b/t 12.49% 12.49% 12.84% 16.65% 16.65% 16.65% 16.65% 17.04% 21.26% 21.26%

Cash On Cash Return a/t 12.49% 12.49% 12.84% 16.65% 16.65% 16.65% 16.65% 17.04% 21.26% 21.26%

Debt Coverage Ratio 1.43 1.43 1.44 1.57 1.57 1.57 1.57 1.58 1.73 1.73

Gross Income per Sq. Ft. $12.25 $12.25 $12.33 $13.20 $13.20 $13.20 $13.20 $13.29 $14.25 $14.25

Expenses per Sq. Ft. ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75)

Net Income Multiplier 10.82 10.82 10.73 9.84 9.84 9.84 9.84 9.75 8.94 8.94

Operating Expense Ratio 22.45% 22.45% 22.31% 20.83% 20.83% 20.83% 20.83% 20.70% 19.30% 19.30%

Loan To Value Ratio 77.68% 75.23% 72.65% 69.93% 67.06% 64.04% 60.86% 57.50% 53.97% 50.25%

* b/t = before taxes; a/t = after taxes

Annual PropertyNew Brighton Center

Rental Income $9.50 $9.50 $9.58 $10.45 $10.45 $10.45 $10.45 $10.54 $11.50 $11.50

Expense Reimbursements $2.50 $2.50 $2.50 $2.50 $2.50 $2.50 $2.50 $2.50 $2.50 $2.50

Miscellaneous Income $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25 $0.25

GROSS SCHEDULED INCOME $12.25 $12.25 $12.33 $13.20 $13.20 $13.20 $13.20 $13.29 $14.25 $14.25

GROSS OPERATING INCOME $12.25 $12.25 $12.33 $13.20 $13.20 $13.20 $13.20 $13.29 $14.25 $14.25

Expenses

Replacement Reserves ($0.25) ($0.25) ($0.25) ($0.25) ($0.25) ($0.25) ($0.25) ($0.25) ($0.25) ($0.25)

Building Insurance ($0.33) ($0.33) ($0.33) ($0.33) ($0.33) ($0.33) ($0.33) ($0.33) ($0.33) ($0.33)

Misc ($0.13) ($0.13) ($0.13) ($0.13) ($0.13) ($0.13) ($0.13) ($0.13) ($0.13) ($0.13)

Taxes - Real Estate ($1.38) ($1.38) ($1.38) ($1.38) ($1.38) ($1.38) ($1.38) ($1.38) ($1.38) ($1.38)

Snow Removal ($0.66) ($0.66) ($0.66) ($0.66) ($0.66) ($0.66) ($0.66) ($0.66) ($0.66) ($0.66)

TOTAL OPERATING EXPENSES ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75) ($2.75)

NET OPERATING INCOME $9.50 $9.50 $9.58 $10.45 $10.45 $10.45 $10.45 $10.54 $11.50 $11.50

Cumulative AnalysisNew Brighton Center

Equity (appreciation) ($12) ($12) ($12) ($12) ($12) ($12) ($12) ($12) ($12) ($12)

Equity (loan reduction) $11,596 $23,816 $36,692 $50,262 $64,561 $79,629 $95,508 $112,240 $129,872 $148,453

CASH FLOW (a/t) $13,838 $27,676 $41,899 $60,348 $78,798 $97,247 $115,697 $134,571 $158,117 $181,663

Totals - To Date $25,422 $51,480 $78,579 $110,598 $143,346 $176,864 $211,192 $246,799 $287,978 $330,105

Invested Capital ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778) ($110,778)

ROIC - To Date 22.95% 46.47% 70.93% 99.84% 129.40% 159.66% 190.64% 222.79% 259.96% 297.99%

* a/t = after taxes; ROIC = Return On Invested Capital

Operating IncomeNew Brighton Center

Year 1 2 3 4 5 6 7 8 9 10

$7,000

$14,000

$21,000

$28,000

$35,000

$42,000

$49,000

$56,000

$63,000

$70,000

Legend

GROSS OPERATING INCOME NET OPERATING INCOME NET CASH FLOW (b/t)

Equity vs. DebtNew Brighton Center

Year 1 2 3 4 5 6 7 8 9 10

$39,000

$78,000

$117,000

$156,000

$195,000

$234,000

$273,000

$312,000

$351,000

$390,000

Legend

Equity Loan Principal Balance

Property EquityNew Brighton Center

Year 1 2 3 4 5 6 7 8 9 10

$25,000

$50,000

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

$225,000

$250,000

Legend

Initial Equity Equity (loan reduction) Equity (appreciation)

Cumulative WealthNew Brighton Center

Year 1 2 3 4 5 6 7 8 9 10

$34,000

$68,000

$102,000

$136,000

$170,000

$204,000

$238,000

$272,000

$306,000

$340,000

Legend

Equity (loan reduction) Equity (appreciation) CASH FLOW (a/t)

new brighton center - loopnet...property description new brighton center 1005 3rd avenue new...

Documents

brighton chry new 0000250791

homewood suites new brighton

new brighton case study (pdf)

brighton chrysler new cars lv-0000235698

brighton chrysler new cars lv-0000247053

smith & shafer donates to brighton center runaway shelter

brighton ford new 0000251367

eagle view adult center - brighton co

site j, new england quarter, brighton

brighton ford new cars lv-0000235705

brighton ford new cars lv-0000235703

brighton center annual report 2012

driving directions to brighton center for specialty care...

brighton center draft low res

brighton recreation center summer 2015 brochure

martin parr, new brighton

brighton recreation center summer 2014 brochure

existing ecological conditions at proposed new brighton...

2014 2015 brighton recreation center winter brochure

for lease new brighton retail