An NHRA sanctioned automotive race track facility, the oldest drag strip facility in New Jersey and one of the busiest tracks in the country with over 265 events in a year. The property features a quarter-mile drag strip, plus an oval track, along with food concession buildings, BBQ Pit, bar, souvenir shop, game room, two VIP boxes, multiple restroom buildings, etc.
This horse racing track facility has been existence since 1853 and features live Standardbred harness racing for trotters and pacers. The property is situated on 52,82 acres straddling the borders of Freehold Borough and Freehold Township, and adjacent to Freehold Raceway Mall.
Growing out of a variety of reform ideas, Charter schools, represent semi-autonomous public schools, and have become a significant part of the American education system. Typically founded by a combination of educators, parents, community groups, or private organization, that essentially obtain a contract, or charter, to operate, these schools under the relatively limited duration of charters, which typically require renewal every few years in most states. Coupled with the financial struggles of operating a school, as well as a general lack of awareness of the population at large, add to the challenges of this industry. Some of the primary considerations, from a real estate valuation perspective, include typically short-term leases, due to the frequent need to renew charters in order to continue to operate; demand within the local market area for public school alternatives, and charter schools specifically; along with the typically wide variety of building characteristics, which often include various other property types retro-fitted for school use, and the unique challenges of considering alternate highest and best uses of these buildings. We been involved in the appraisal of numerous school properties, as well as a number of charter schools specifically, where a thorough analysis of all of the above issues was demanded. We have performed feasibility and marketability analysis; analysis of unique advantageous financing, grants and interest free financing on the property.
A 35,073-square-foot school and church facility, including a recently constructed (2007) 17,761 school building, along with an existing 12,876 school building constructed in 1986, and a 4,436 circa 1972, church sanctuary. We have appraised several large church and school facilities.
The subject of this report comprises 16 parcels totaling 1,125.674 acres located in the Boroughs of Eatontown, Oceanport, and Tinton Falls, Monmouth County, New Jersey. The subject property is more commonly known as the United States Army's Fort Monmouth military base. Borough of Eatontown - 4 parcels 4154.304 acres. Borough of Oceanport - 11 parcels 416.87 acres. Borough of Tinton Falls - 1 parcel254.5 acres. The parcels are improved with a total of 433 buildings containing 4,957,689 square feet.
A 48-slip marina uniquely located within the Shark River Inlet and situated along Main Street at the edge of Avon-By-The-Sea.
One of the premier private golf-course/country clubs in the area, designed by Hal C. Purdy, opened in 1963 and has hosted several LPGA championship matches as well as several PGA events. In addition to the golf course, driving range and practice greens; the property includes a full-sized ice skating rink, clay surfaced tennis courts, heated platform-tennis courts, and an in-ground swimming pool. The Clubhouse is a 49,016+ square foot, turn-of-the-century building with a banquet facility capable of handling parties of up to 325 people, a restaurant with several additional dining rooms, full kitchen facility, two bar areas, full locker-room and shower facilities, pro-shop and snack bar. A proposed renovation was budgeted at an estimated $10,000,000. The site comprises six parcels totaling 131.62+ acres.
63,686 SF Class A self storage facility in Newtown, PA, containing 500 storage units. We have completed numerous appraisals of self storage properties throughout New Jersey and Pennsylvania, including thorough market research and analysis specific to this property type.
Gas stations represent a unique property type that typically contain personal and intangible property in addition to real estate. As a result of these issues, they tend to be complex assignments. We have appraised dozens of gas stations throughout NJ, PA and NY and are well versed in the thorough analysis of each of the components associated with this property type.
A proposed four-story, 52,020 square foot charter high school. The development site was adjacent to an existing middle school property operated by the same organization. The assignment included a thorough analysis of the local education market, as well as the charter school concept specifically, in order to make informed decisions regarding the feasibility of the project. The school included 24 classrooms, two science labs, a full-size gymnasium, a multi-purpose room, and administrative offices.
Neopharma Antibiotic Manufacturing Facility in Bristol, Tennessee. Improvements consist of a 367,538-square-foot FDA approved facility formerly occupied by GlaxoSmithKlein, which complies with Current Good Manufacturing Practices (cGMP) as defined by the FDA. Originally constructed in 1978, the plant more than doubled in size over the years with expansions in 1983, 1988, 1989 and then with a large expansion in 2003, which included state-of-the art lab space. As is typical with pharmaceutical manufacturing facilities, the property is improved with extensive HVAC systems, contamination prevention, containment and filtration systems, including HEPA and dust collection systems. Also in place are system control and monitoring (Metasys). In total, the property consists of 41.10± acres.
27,303 SF, 37-bed former memory care facility being repositioned for use as a drug and alcohol rehab facility. The ongoing epidemic of opioid addiction, combined with alcohol addiction, has created demand for operators in this industry. However, there are only a few major players in the industry due to the fact that treatment rates are relatively low and is somewhat dependent on the availability of insurance.
32-lane bowling alley with liquor license, bar, café’, pro shop, party rooms and pool tables. The bowling industry has changed significantly over the past 20 years and the makeup of bowling centers has also evolving. New facilities are commonly combined with a range of other recreational activities and complementary uses. Our assignment appraised the going concern and separated the value of the real estate.
Xmall 16,270 square foot, 4-screen movie theater near downtown reading, pa
23,734 SF, 8-screen movie theater with 1.17 acres of excess land – Fully digital theater and four of the screens with 3D capability. This theater had recently been upgraded with luxury recliners along with other general improvements and experienced a large jump in revenues. a nearby competitor had more recently undergone a similar improvement program to reclining seats and a complete facelift of the theater.
A 30,441 SF, 8-Screen movie theater, with surplus land available for expansion to a 16-screen venue. Fully digital facility, and four screens with 3D capability, the property had a couple years prior been upgraded with premium luxury recliner seating. the operater also acquired a liquor license and opened a cocktail bar, outdoor patio with seating, fire pit, and landscaping where patrolns could relax before or after a movie. additionally, a full commercial kitchen was added and equipped to propare hot food for in-theater dining and capable of serving more than 2,000 movie-goers per day.