DESCRIPTION OF IMPROVEMENTS 

PROPERTY TYPE: Class "B" suburban office building

NUMBER OF STORIES: 1

YEAR BUILT/RENOVATED: 1995/2013

RENTABLE BUILDING AREA: 48,428 square feet

ON‐SITE PARKING: 163 surface spaces

STRUCTURE: The structural system is steel frame with a poured concrete foundation.

EXTERIOR WALLS: The exterior wall finishes consisting of stucco with stone at the base.

WINDOWS: Glass fixed insulated pane windows.

ROOF: Flat, built-up steel roof. According to ownership, the roof is in average condition. Access was not provided to the roof, though no visual indications of any leaking were reported or observed at the time of inspection.

HVAC: The subject property is heated by a gas-fired boiler and cooled by air conditioning units located on the roof.

FIRE PROTECTION: The subject property is fully sprinklered.

INTERIOR DETAILS: The subject property's main entrance is located in the middle of the building via sets of double glass doors. The entrance leads to the lobby and reception area of Matrix Equities. Finishes consist of tile and marble floors and marble and painted sheetrock walls. Lighting is provided by recessed lighting and ceiling hung fixtures. Winkler Kurtz & Winkler LLC have their own entrance and the entrance to Orthosport Physical Therapy is located in the rear of the building and is not visible from Route 112.

OFFICE SPACE: The subject property contains 48,428 square feet of rentable office space, which is presently leased to 9 office tenants, inclusive of the owner-occupied space. There is 1 vacant space, totaling 3,000 square feet. Finishes and fixtures typically consists of carpet and tile flooring and painted sheetrock walls and sheetrock ceilings with recessed fluorescent lighting and acoustic tile ceiling. Matrix Equities has private executive offices, a conference room, pantry and open office space with cubicles. The U.S. Digital Sciences Corporation space is accessed from the Matrix Equities; the tenant does not have its own entrance. Overall, the office space was observed to be in very good condition.

Orthosport Physical Therapy is located in the rear of the subject property. The space has a small mezzanine and consists of gym equipment and massage tables.

GARAGE SPACE: The subject property has a parking garage/storage space that is part of the owner-occupied space. The space is unfinished and has concrete floors and walls and unfinished ceilings. There are 3 metal rolldown gates that lead to the parking lot. A Plus Auto Sales is located within the garage space. The garage space presents some upside potential to the subject property as it can be built out as conventional office space, which is its highest and best use.

CELLAR: The partial cellar is unfinished and used for storage by ownership. It is accessed via a staircase on the first floor. The boiler and meter rooms are located in the cellar.

PARKING: There are approximately 163 surface parking spaces at the subject property. All parking is asphalt-paved and was observed to be in good condition.

LANDSCAPING: The subject property site is landscaped with trees, grass, and shrubbery along all perimeters of the site, typical of a suburban office facility.

PHYSICAL DETERIORATION: The subject property improvements are adequately maintained and no items significant physical deterioration were evident at the time of our inspection. The improvements were observed to be in overall very good condition.

FUNCTIONAL OBSOLESCENCE: The subject property's features are considered to be competitive within the influencing Long Island suburban office markets. Finishes and fixtures are consistent with market expectations. The space appears adaptable to a wide variety of commercial uses and could be configured for both single and multi-tenanted use.

EXTERNAL OBSOLESCENCE: The subject property is located proximate to numerous highways, which provide linkages to the area's residential areas. The immediate area consists primarily of office and light industrial and flex buildings. The subject property effectively competes with other Class "B" office facilities. As such, no elements of external obsolescence were noted.

UNIT # LEASELEASE

TYPEAREA

LEASE 

START

LEASE

EXP

CURRENT

ANNUAL  RENT

ANNUAL 

RENT/PSF

RENT

INCREASES

TENANT

ELECTRIC

ANNUAL

ELEC/PSF

SECURITY

DEPOSIT REC

100 * Matrix Equities, Inc.Office / Garage

Gross26,728 11/1/2012 10/31/2027 $677,555.76 $25.35 3% pa $90,999.96 $3.40 ­

200 Winkler Kurtz & Winkler LLP Office Gross 3,500 1/1/2015 12/31/2024 $93,729.96 $26.78 3% pa $10,322.04 $2.95 $15,166.66

300U.S. Digital Sciences

CorporationOffice Gross 1,400 6/1/2014 5/31/2021 $35,640.00 $25.46 3% pa $4,550.04 $3.25 ­

400Allen Glen Bernhard

PE PC Office Gross 410 6/1/2014 5/31/2019 $9,569.28 $23.34 3% pa $960.00 $2.34 ­

500 A Plus Auto Sales Office / Garage

Gross300 11/1/2012 10/31/2017 $6,000.00 $20.00 ­ ­ ­ ­

700Orthosport Physical Therapy,

P.C.Office Gross 2,127 4/1/2015 3/31/2025 $56,961.12 $26.78 3% pa $5,849.16 $2.75 $9,217.00

800 ILF Mobile Apps Corporation) Office Gross 3,677 5/15/2016 10/14/2023 $95,418.12 $25.95 3% pa $12,492.96 $3.40 $15,903.02

900 The Crest Group LLC Office Gross 5,200 4/1/2016 3/31/2021 $18,000.00 $3.46 ­ ­ ­ ­

R01 Nautilus Solar Long Island, LLC Gross Roof 10/30/2013 10/29/2033 $18,000.00 $0.00 ­ ­ ­ ­

600 Vacant 3,000

RENT ROLL

1201 ROUTE 112, PORT JEFFERSON STATION, NY 

Select Investment Properties Inc.The information contained herein has been received by us from sources we believe to be reliable, but we have made no independent investigation of the accuracy or completeness of the information and make no representations 

with respect thereto.  The above is submitted subject to errors, prior sale, change in status or withdrawal without notice.  CC OB 1116

* Matrix will vacate the building upon sale

TOTALS

INCOME Base Rent 856,751.88$ Reimbursed Electricity 111,721.20$ TOTAL REVENUE 968,473.08$     

EXPENSES Management Fee Expense 29,054.16$ Landscape Contract 5,285.17$ Alarm Systems & Monitoring 748.80$ Utility Service Contract 229.88$ Cleaning & Supplies 25,920.00$ Electricity 37,500.00$ Gas 13,650.00$ Water 3,180.00$ Trash Removal 2,607.00$ Cable 1,200.00$ Electrical R&M 1,500.00$ General Supplies R&M 1,800.00$ Parking Lot Repairs 2,000.00$ Painting Supplies 400.00$ Locks & Keys R&M 300.00$ Real Estate Taxes 106,234.68$ Property Insurance 14,400.00$ Surety Bond 500.00$ TOTAL EXPENSES 246,509.69$     

NET OPERATING INCOME 721,963.39$     

2016 INCOME & EXPENSE

1201 ROUTE 112, PORT JEFFERSON STATION, NY

Select Investment Properties Inc.The information contained herein has been received by us from sources we believe to be reliable, but we have made no independent investigation of the

accuracy or completeness of the information and make no representations with respect thereto. The above is submitted subject to errors, prior sale, change in status or withdrawal without notice. CC OB 1116

SELECT INVESTMENT PROPERTIES INC .

Port Jefferson Station, New York, United States

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2016 Estimated Population 8,505 79,729 186,247

2021 Projected Population 8,460 79,635 186,371

2010 Census Population 8,464 79,733 186,246

2000 Census Population 7,677 73,786 171,610

Projected Annual Growth 2016 to 2021 -0.1% - -

Historical Annual Growth 2000 to 2016 0.7% 0.5% 0.5%

2016 Median Age 39.5 41.3 39.5

2016 Estimated Households 2,904 28,190 62,077

2021 Projected Households 2,965 28,917 63,784

2010 Census Households 2,862 27,841 61,306

2000 Census Households 2,538 24,271 54,877

Projected Annual Growth 2016 to 2021 0.4% 0.5% 0.5%

Historical Annual Growth 2000 to 2016 0.9% 1.0% 0.8%

2016 Estimated White 83.8% 84.8% 82.3%

2016 Estimated Black or African American 4.0% 4.1% 5.6%

2016 Estimated Asian or Pacific Islander 5.1% 6.0% 6.9%

2016 Estimated American Indian or Native Alaskan 0.3% 0.2% 0.2%

2016 Estimated Other Races 6.7% 5.0% 5.0%

2016 Estimated Hispanic 15.9% 12.3% 11.8%

2016 Estimated Average Household Income $108,827 $120,447 $119,708

2016 Estimated Median Household Income $96,230 $103,476 $103,167

2016 Estimated Per Capita Income $37,269 $42,667 $40,160

2016 Estimated Elementary (Grade Level 0 to 8) 3.4% 2.6% 2.7%

2016 Estimated Some High School (Grade Level 9 to 11) 6.9% 4.0% 4.2%

2016 Estimated High School Graduate 33.6% 27.5% 27.1%

2016 Estimated Some College 16.7% 16.9% 17.6%

2016 Estimated Associates Degree Only 7.7% 9.2% 9.1%

2016 Estimated Bachelors Degree Only 19.8% 21.0% 20.2%

2016 Estimated Graduate Degree 11.9% 18.8% 19.0%

2016 Estimated Total Businesses 568 3,467 7,477

2016 Estimated Total Employees 3,454 28,639 98,226

2016 Estimated Employee Population per Business 6.1 8.3 13.1

2016 Estimated Residential Population per Business 15.0 23.0 24.9

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1201 NY-1121 mi radius 3 mi radius 5 mi radius

Port Jefferson Station, NY 11776

SUMMARY PROFILE2000-2010 Census, 2016 Estimates with 2021 ProjectionsCalculated using Weighted Block Centroid from Block Groups

Select Investment Properties, Inc.

Lat/Lon: 40.9196/-73.0386

©2016, Sites USA, Chandler, Arizona, 480-491-1112 page 1 of 1 Demographic Source: Applied Geographic Solutions 10/2016, TIGER Geography