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SITE SEARCH OF NEW JERSEY

(Licensed Real Estate Broker)

P.O. Box 7052; Princeton, N.J. 08543

(609) 683-0413 (phone); (609) 683-4579 (fax)

e-mail: mho13@

PRIME 1031 EXCHANGE PROPERTY

NET - LEASED PROPERTY: CITY OF TRENTON; PRIME INDUSTRIAL

INVESTOR OPPORTUNITY LOCATED IN THE UEZ (3/2018)

LOCATION: The ‘Kamco Building Supply’ property; 102 North Olden Avenue; between North Clinton Avenue and East State Street. (Block 25501; Lot 4.01).

PERTINENT INFORMATION:

- The property consists of two industrial buildings totaling approx. 44,000 SF situated on 1.979 acres.

1. Building I (50’ x 300’) features 15,000 SF of clear-span space with an 18’ ceiling under beam. The building has 3-phase power w/ approx. 500 amps. There are three-16’ high x 14.5’wide drive-in loading doors. In addition, the building contains a 10-ton overhead bridge-crane. The building construction consists of 7’ of block with the remainder being ‘butler’.

2. Building II (L-shaped in two sections); one being 80’x 275’ & the other being 60’ x 125’ for a total of 29,500 SF. The building features 18’ ceiling height with 25’ x 25’ column spacing in the larger section plus 15’+ ceiling height with 18’ x 20’ column spacing in the 7,500 SF section.

The property was completely renovated during 2006 for Kamco Building Supply Corp., the present Tenant whose lease-term commenced on 6/1/2006.

Renovations included a new roof, offices/bathrooms, HVAC & plumbing.

The Sellers also paved the rear of the property in 2017 at a cost of $60,0000.

TENANT INFORMATION:

- Kamco Building Supply is leasing and has heavily invested in the entire property. They have a 5-year lease that commenced on 12/1/2016 and terminates on 11/31/2021. The lease includes 10 three-year options with 3% rent bumps per extension.

- For the primary term Kamco pays $12,000/mo. NNN with no rental bumps.

SELLER RESPONSIBILITIES:

- Seller maintains responsibility for the roof and structure.

MISC. PROPERTY INFO:

- The property is situated within the City of Trenton UEZ & the Industrial ‘A’ Zoning allows for a wide variety of potential uses. All public utilities service the site.

- In 2016, Ownership obtained an RAO from NJDEPE. As a result, the property has a DEPE clean bill of health, but will be deed restricted against future potential residential development.

- Property taxes for 2018 are $37,668 ($.86/SF).

SALE PRICE: $1,350,000 (9.9% Cap!!!)

FOR FURTHER INFORMATION AND TO ARRANGE FOR

A TOUR OF THE PROPERTY; PLEASE CONTACT:

MARK OLINSKY @ (609) 731-4111

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