Market Demand Analysis
Market Demand Analysis was completed on November 19, 2019. Market Analysis deem this project set for success. Demographics have been analyzed, as well as competing developments, leading to a conclusion as to the estimated “capture” rate, or the number of qualified renters who are projected to be attracted to this project. The demographics clearly indicate that there are sufficient income - qualified participants in the marketplace to adequately absorb and sustain this project.
Proposed Units
Simplex Homes
Site Plan
Acquisition & Budget
The sources and uses breaks down the Project development cost of $19,038,166.
| ACQUISTION | Square Feet | Acres/Units |
|---|---|---|
| LAND AREA | 2,200,000 | 0.33 |
| RESIDENTIAL | 189,000 | 0.33 |
| TOTAL GROSS LEASABLE AREA 189,000 | ||
“Demand will be sufficient to sustain a stabilized occupancy level of 95% within 28 months of lease start-up”
| UNIT TYPE | UNITS PROPOSED | MARKET CAPTURE |
|---|---|---|
| 2-Bedroom/2-Bath | 135 (90%) | 222 / 1.64 coverage |
| 3-Bedroom/2-Bath | 15 (10%) | 79 / 5.26 coverage |
Projected Rentals
| UNIT TYPE | # OF UNITS / % | SQUARE FOOTAGE | RENT/MONTH | RENT/SF |
|---|---|---|---|---|
| 2-Bedroom/2-Bath | 135 (90%) | 1,250sf (avg.) | $1,450 | $1,16/sf |
| 3-Bedroom/2-Bath | 15 (10%) | 1,400sf (avg.) | $1,525 | $1,09sf |
NOTE: The projected rent levels reflect tenants also paying gas and electric and water.
Complete market analysis is available upon request.
Project Overview
Preliminary Plans
135 two-bedroom units15 three-bedroom units
3 one story building structures
Apartment Amenities
Attached GarageModern Kitchens Equipped with and Island
Quartz Counter Tops
Peaked Ceilings
Dining Alcoves
Cable TV Included
Large Rear Patio
Stainless Steel Appliances
Spacious Floor Plans
Smoke-Free Living
Individual Heat & Central Air Conditioning
Inteernet
In-Unit Washer & Dryer
Community Features
Heated Swimming PoolPool House
Club House
On-Site Maintenance
Kids Playground
24-Hour Fitness Center
Running / Biking Path
Possible Dog Park
Location
South Avenue, between Main Street and Owens Road in the Village of Brockport, is considered to be an excellent location for development of new townhome rental units.
The proposed location is in close proximity to:- Wegmans grocery store
- Walmart Supercenter
- Lowe’s Home Improvement center
- Considerable retail
- Restaurants
- Personal service shops
South Avenue connects directly to Main Street (Rd. 19) less than ½ mile west, which is the central thoroughfare through the Village of Brockport.
Ready to get Started?
A team of investors is filling up fairly fast. If this investment opportunity is of interest to you, I would invite you to examine Market Analysis and reach out to us directly
Direct Contact:
David J. Eckert
585-490-0672