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Featured Listing |
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Status: Available |
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| Price: $ 3,000,000 |
Sq. Ft.: 0 |
| Type: |
Style: Mixed Use |
| Ceiling Height: See Below |
Loading Dock: None. Exterior Hoists |
| Basement: Remarks |
Parking: 10-12 cars on site. |
| Acreage: .44 acre |
Year: 1920s |
| Lot Size: 19,300sf |
Zoning: C-2 |
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| Price per Sq.Ft.: |
$ 0.00 |
| Property Tax: |
$46,501. |
| Posted Date: |
10/08/10 |
| Available Date: |
Immediate |
| Open House Date: |
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Description:
INTRODUCTION TO THE 5 IMPROVEMENTS TO THE PROPERTY The property contains a total of 5 major buildings. However there are only three (3) tax assessment records applicable to the property. Their descriptions are as follows: #1) The first building is a 2 Family Dwelling that fronts on Irving Avenue and is sited on a lot by itself that measures 50’ x 100’. Assessment Description: Section 142.22 Block 2 Lot 71 Assessed Value: $367,000 Property Taxes: $8,602 (2010-2011) The second, third, fourth and fifth buildings are located on Broad Street (known as 40-42 Broad Street and Rear, and 44-46 Broad Street) and are sited on one large lot that measures approximately 100frf x 143’. These buildings are: #2)The second building is a 1-and-2-story concrete block “L” shaped building with 2 commercial tenants above the 8-9 garages and storage areas. (This structure does not have its own designated tax lot but is included along with the 3 story brick apartment building more fully described below). #3 and #4) This is a 1-and-2-story stucco on frame taxpayer with 2 retail spaces on the first floor and apartment above. Assessment Description: Section 142.22 Block 2 Lot 75 Assessed Value: $276,000 Property Taxes: $8,532 (2010-2011) #5) This structure is a 3-story, wood-joisted, 8-family apartment building with 2 retail spaces and an Antiques Shop (also includes the “L” shaped commercial building) . Assessment Description: Section 142.22 Block 2 Lot 76 Assessed Value: $950,000 Property Taxes: $29,367 (2010-2011) |
Additional Info:
Building #1: 2 Family Dwelling 141-143 Irving Avenue This 2 Story, vinyl sided, legal 2 Family Dwelling was built c.1920 and extensively remodeled in 2005 with new electric, heat and plumbing. The dwelling contains a GBA of approximately 2,023sf and consists of a total of 11 rooms and 2 bathrooms broken down as follows: 1st floor: Living Room, EIK, 3 Bedrooms and Bath; 2nd Floor: Living Room, EIK, 4 Bedrooms and Bath. The dwelling rests over a full, unfinished basement that contains 2 separate gas fired furnaces and 2 gas fired HW heaters. Each apartment has its own gas meter and electric meter. The improvements are situated on an interior, rectangular shaped lot that measures 50ff x 100 depth. Aside from the dwelling, the entire lot is completely paved with asphalt. Building #2: Rear “L” Shaped Commercial Building 44-46 Rear Broad Street This is a 1 and 2-story, concrete block building with commercial space above and open storage and garages below containing approximately 4,750sf of heated gross building area. Approximately 1,670sf of the upper floor is occupied by an upholsterer while approximately 2,396 sf is occupied by an adjacent pipe organ restoration company. This structure was completely renovated in 2006 thru 2007 and has been legally upgraded to house 2 commercial tenants. The front portion of the structure (Portion “A” – approx 2,396sf is heated by a modine-type suspended heating unit in the shop and a FWAG heating system that heats the office area. Ceiling heights are approximately 10-12’. The rear portion of the structure (Portion “B” – approx 1,653sf occupied by the upholsterer) is heated by a gas fired FWA unit. Ceiling height is also approx 10’-12’ Beneath the upper floor area are garages and storage areas – some with overhead doors and others with sliding doors as well as open storage areas. 2 Garages containing approximately 850sf are occupied by an airplane restoration company. The balance of the space beneath the structure contains storage areas and shop areas for use by the property owner and the commercial tenants. The property owner operates out of three maintenance shops and storage areas. One space is heated. The heated space is a furniture restoration shop containing around 800sf. It is heated by commercial grade overhead radiant heaters. A smaller adjacent space is used for storage and contains approx 216sf. At the apex of the rear “L” shaped building at grade level is another area dedicated as a general carpentry and repair shop that contains approximately 800sf. It too is unheated. These owner occupied areas are stated in the Income stream as projected rental income. A new multi-zone central fire detection system covering the Barber Shop, Taxi Office and the Apartment as well as the larger "L" shaped commercial building at the rear of 40-42 Broad Street has been installed to monitor each of these structures for the peril of fire. Buildings #3 and #4: Taxi Office, Barber Shop & Apartment over Part Basement 40-42 Broad Street This attached-side-by-side 1 and 2 Story stucco-on-frame retail and apartment building was built c. 1900 and contains a GBA of approximately 2,182sf. It contains a Barber Shop, Taxi Office and a 2 bedroom apartment. a)40 Broad Street 40 Broad Street is the 2 story portion of the side-by-side structure and contains approximately 1,600sf of GBA with 800sf allocated to the first floor Taxi Office and an additional 800sf dedicated to the second floor, 4 Room and Bath Apartment. The Apartment is heated by a gas fired hot water furnace that is located in the unfinished basement. The Taxi office is heated by a gas fired wall furnace. A 30 gallon gas fired HW heater located in the basement serves both spaces. b)42 Broad Street The additional 800 sf is dedicated to the one-story structure known as 42 Broad Street. Approximately 500sf is allocated to the Barber Shop and the balance is utilized as the owner’s storage areas at the rear. The Barber Shop is heated by a Dayton, gas fired, suspended heater rated as 45,000btu input and 36,450 BTU output. The barber shop has its own 30 gallon GHW heater and a 60 AMP electric panel. Behind the barber shop is a small unheated workshop that is used by the owner. The building contains 3 gas meters and 3 electric meters (2 electric meters are located in the basement and the other is in the barber shop) Building #5 – Apartment Building & Retail over Full Basement 44-46 Broad Street This is a 3-story, joisted masonry and frame apartment over retail building built c.1920 and containing a gross building area of 9,877sf. The structure also has an additional 240sf of enclosed and unheated porches and 482sf of heated porch area on the rear portion of the 3 story structure. The building contains 8 apartments over two retail stores and an antique showroom and work area. The apartments are further broken down into the following: 24 total rooms, 16 bedrooms and 8 bathrooms. Each tenant supplies its own heat and hot water by way of 8 individual gas fired furnaces and 8 thirty gallon gas hot water heaters. Each apartment has its own gas and electric meter. Smoke and carbon monoxide detectors have also been installed in each apartment. The entire hallway is further protected by a wet sprinkler system. In addition to the 8 apartments, the structure houses two separate retail stores – one occupied as a Beauty Shop and the other occupied as a Bookstore. Each premise contains nearly 700sf and each is separately metered for gas and electric. Both stores have their own gas fired furnaces and gas water heaters and spaces are air-conditioned. At the rear of the building, also on the first floor, is an antiques dealer who occupies approximately 1,500sf. The balance of the grade level rear space is utilized for storage and a small office used by the property owner. The structure rests over a full partially finished basement that is presently used primarily for the storage of materials owned by one of the tenants in the property. Ceiling heights in the basement are between 6’-7’. This area has concrete floor, drywall partition walls and two lavatories plus one stub-in. Electric supply to the building is via a 400amp power source with 2 – 200amp additional feeds for the commercial tenants in the “L” shape building. The sewer line in the building is below the sewer line in the street which gives rise to the need for the full time operation of 2 sewage lift pumps. This installation allows the balance of the basement space to be unencumbered by plumbing lines. The main access to these vessels is located at the rear of the basement. Their operation is monitored by a local alarm system. There is also a water pump – at the bottom on the ramp on the north side of the building basement that pumps any storm water into a storm drain in front of the building. Another small sump pump is located on the driveway side of the building as a supplement to the other storm water pumps. As a result of these measures, the basement is dry and is fully usable. RENT ROLLS AND OPERATING EXPENSES ARE AVAILABLE ON REQUEST FROM SERIOUS PURCHASER For further information or to arrange an appointment for an inspection of the subject contact Exclusive Broker Neil J. Pagano (E-Mail NPagano@cjpagano.com)
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