Embed Size (px)
Citation preview
185 ENGLE STEnglewood, NJ 07631
Offering Memorandum
1
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and
should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters
and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of
the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
SPECIAL COVID-19 NOTICE
All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary,
especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on
behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus &
Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential buyers are admonished and advised to engage other
professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma
financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections,
analyses, and decision-making.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name
is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or
commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
185 ENGLE ST
Englewood, NJ
ACT ID ZAB0280404
2
TABLE OF CONTENTS
SECTION
INVESTMENT OVERVIEW 01Offering Summary
Regional Map
Local Map
Aerial Photo
FINANCIAL ANALYSIS 02Tenant Summary
Lease Expiration Summary
Operating Statement
Notes
Pricing Detail
Acquisition Financing
MARKET OVERVIEW 03Market Analysis
Demographic Analysis
185 ENGLE ST
3
185 ENGLE ST
4
INVESTMENT
OVERVIEW
185 ENGLE ST
#
OFFERING SUMMARY
5
EXECUTIVE SUMMARY
EXPENSES
CURRENT $/SF PRO FORMA $/SF
Trash Removal $600 $0.15 $600 $0.15
Water $214 $0.05 $214 $0.05
Landscaping $600 $0.15 $600 $0.15
Snow Removal $1,000 $0.25 $1,000 $0.25
PSEG $1,920 $0.48 $1,920 $0.48
Outside Lighting $600 $0.15 $600 $0.15
Insurance $3,591 $0.90 $3,591 $0.90
Real Estate Taxes $18,719 $4.68 $18,719 $4.68
Total Expenses $27,244 $6.81 $27,244 $6.81
VITAL DATA
CURRENT PRO FORMA
Price $1,050,000 CAP Rate 0.26% 0.26%
Down Payment100% /
$1,050,000Net Operating Income $2,756 $2,756
Loan Type All Cash Net Cash Flow After Debt Service 0.26% / $2,756 0.26% / $2,756
Rentable SF 4,000 Total Return 0.26% / $2,756 0.26% / $2,756
Price/SF $262.50
Current Occupancy 47.5%
Year Built
Lot Size 0.23 acre(s)
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2019 Estimate Pop 19,348 139,3441,057,69
9
2010 Census Pop 18,723 135,3551,018,79
6
2019 Estimate HH 7,056 51,549 387,833
2010 Census HH 6,721 48,992 368,071
Median HH Income $84,932 $101,074 $53,481
Per Capita Income $50,084 $54,848 $31,828
Average HH Income $137,099 $147,973 $86,204
185 ENGLE ST
OFFERING SUMMARY
• Three Tenant Professional Office Building
• Located Walking Distance to Downtown Englewood
• 0.3 Miles From Englewood Hospital and Medical Center
• 0.5 Miles From Downtown Englewood Shopping District
• Located In A Dense Medical and Professional Office Corridor
• 15 Miles To New York City
• Conveniently Located Right Off Of Route 4 (Direct Access To Paramus and George
Washington Bridge)
• Densely Populated Area – 1,072,428 People In a Five Mile Radius
• High Average Household Income - $137,099 Within A One Mile Radius
• Additional Income From Existing Tenant – COMPU-STAT, INC (Bookkeeping
Services)
• Parking Lot Was Resurfaced In 2018
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to exclusively list for sale a three-tenant office building.
Englewood is a borough located in Bergen County, New Jersey. The subject property is approximately 13 miles north of Midtown Manhattan in
New York City. The boroughs that share their border with Englewood are Englewood Cliffs, Teaneck, Tenafly, Bergenfield and Leonia.
Englewood is accessible by many major highways such as Route 17, Route 80, Route 4, Route 93, the New Jersey Turnpike, County Road
501 and County Road 505. NJ Transit provides bus service from Englewood to Port Authority Bus Terminal in Midtown Manhattan on Bus
Route 166. Service to the George Washington Bridge Bus Station is available on Routes 171, 175, 178 and 186. NJ Transit has proposed the
Northern Branch Corridor Project which will extend the Hudson-Bergen Light Rain into a newly built, Englewood Town Center.
The asking price is $1,050,000.
INVESTMENT OVERVIEW
6
REGIONAL MAP
185 ENGLE ST
7
LOCAL MAP
185 ENGLE ST
8
AERIAL PHOTO
185 ENGLE ST
9
Englewood Train Station0.6 Miles From Subject Property
SUBJECT PROPERTY
Englewood Hospital0.3 Miles From Subject Property
Downtown Englewood0.7 Miles From Subject Property
11.1 Miles(20 Min Drive)
FromSUBJECT PROPERTY To Bronx via George Washington Bridge
0.3 Miles From Hospital
0.6 Miles From Train Station
0.7 Miles From Downtown
4.2 Miles(10 Min Drive)
FromSUBJECT PROPERTY
To George Washington Bridge
AERIAL PHOTO
185 ENGLE ST
10
Subject Property
Chandler Fashion Center
Chandler Fashion Center
Chandler Fashion Center
Chandler Fashion Center
Chandler Fashion Center
• The Brownstones: Built in 2007, 350 units, 5 stories
• Vivian Luxury Rentals: Built in 2016, 195 uni, 5 stories luxury rental building
• Englewood Village: Built in 2000, 144 units, 3 Stories
• The Sheffield: Built in 2008, 252 Units, 4 Stories
• One William: Built in 2018, 185 Units, 5 Stories
• Englewood Properties: Built in 2000, 98 Units, 4 Stories
Englewood Properties
Chandler Fashion Center
Renaissance Office Center: 2,225 SF Office Building12-14 Engle Street: 1,600 SF Office Building
PROPERTY PHOTO
185 ENGLE ST
11
185 ENGLE ST
12
FINANCIAL
ANALYSIS
FINANCIAL ANALYSIS
185 ENGLE ST
13
TENANT SUMMARY
FINANCIAL ANALYSIS
185 ENGLE ST
OPERATING STATEMENT
14
FINANCIAL ANALYSIS
185 ENGLE ST
PRICING DETAIL
15
MARCUS & MILLICHAP ADVANTAGE
MARCUS & MILLICHAP CAPITAL
CORPORATION CAPABILITIES
MMCC—our fully integrated, dedicated financing arm—is committed to
providing superior capital market expertise, precisely managed execution, and
unparalleled access to capital sources providing the most competitive rates and
terms.
We leverage our prominent capital market relationships with commercial banks,
life insurance companies, CMBS, private and public debt/equity funds, Fannie
Mae, Freddie Mac and HUD to provide our clients with the greatest range of
financing options.
Our dedicated, knowledgeable experts understand the challenges of financing
and work tirelessly to resolve all potential issues for the benefit of our clients.
Optimum financing solutions to
enhance value
Enhanced control through
investor qualification support
Enhanced control through
MMCC’s ability to qualify
investor finance contingencies
Enhanced control through
MMCC’s ability to monitor
investor/due diligence and
underwriting to ensure timely,
predictable closings
Enhanced control through quickly
identifying potential debt/equity
sources, processing, and closing
buyer’s finance alternatives
WHY MMCC?
National platform
operating
within the firm’s
brokerage offices
$ 7.18 billion
total national
volume in 2019
Access to more
capital sources
than any other
firm in the
industry
Closed 1,994
debt and equity
financings
in 2019
16
185 ENGLE ST
185 ENGLE ST
17
MARKET
OVERVIEW
MARKET OVERVIEW
NORTHERN NEW JERSEYOVERVIEW
1
Northern New Jersey consists of Bergen, Hudson, Passaic, Essex, Morris
and Union counties. The region contains roughly 4 million residents in more
than 200 municipalities. Bergen County is home to nearly 1 million people,
while Essex County, which includes the city of Newark, has approximately
811,500 citizens. The region is bordered to the east by the Hudson River
and New York City, to the south by Middlesex and Somerset counties, to the
west by Warren and Sussex counties, and to the north by New York State. A
large portion of the area is almost fully developed and densely populated.
The region is a part of the New York metro and is linked to the city by the
George Washington Bridge, the Lincoln Tunnel, the Holland Tunnel, several
ferries and commuter rail tunnels.
MARKET OVERVIEW
METRO HIGHLIGHTS
DIVERSE INDUSTRIES
Pharmaceuticals, healthcare and finance are a few
of the segments that contribute to the metro’s
economic base.
LARGE LABOR POOL
The region’s diverse and highly skilled labor and
access to workers in other nearby metros draws an
array of businesses.
UNIQUE ECONOMY
Northern New Jersey has its own economic drivers
and is also well connected to New York City’s robust
economy.
185 ENGLE ST
MARKET OVERVIEW
ECONOMY▪ Northern New Jersey is home to numerous Fortune 500 companies including Prudential
Financial, Merck, PBF Energy and Honeywell International.
▪ The airline industry accounts for a significant share of jobs in the region. United Airlines has
a major presence at Newark Liberty International Airport.
▪ Trade is a key employment sector. Vehicle imports account for a substantial amount of the
Port Newark-Elizabeth Marine Terminal’s business.
▪ Spillover from Wall Street bolsters finance jobs in Essex, Hudson and Bergen counties.
MAJOR AREA EMPLOYERS
Prudential Financial
United Airlines Holdings
Wells Fargo
Hackensack University Medical Center
Bank of America
Wakefern Food Corp
TD Bank
St. Joseph’s Hospital and Medical Center
Merck & Co. Inc.
RWJBarnabas Health * Forecast
2
185 ENGLE ST
SHARE OF 2019 TOTAL EMPLOYMENT
MANUFACTURING
6%GOVERNMENT
HEALTH SERVICES
EDUCATION AND
+OTHER SERVICES
4%
LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES
22%
AND UTILITIES
TRADE, TRANSPORTATION CONSTRUCTION
PROFESSIONAL AND
BUSINESS SERVICES
2%INFORMATION
18%
4%
14% 8% 7%
16%
MARKET OVERVIEW
DEMOGRAPHICS
SPORTS
EDUCATION
ARTS & ENTERTAINMENT
▪ Northern New Jersey will add nearly 67,500 people and approximately 33,000
households over the next five years, generating demand for housing.
▪ The homeownership rate of 51 percent is below the national rate of 57 percent,
maintaining a strong rental market.
▪ Approximately 39 percent of residents hold a bachelor’s degree, including 15 percent
who have also obtained a graduate or professional degree.
Northern New Jersey offers a variety of amenities and cultural activities. Sports and
entertainment are available in East Rutherford at the Meadowlands. The MetLife Stadium is
home to the Giants and Jets of the NFL. The Prudential Center, also known as the Rock, is
an indoor arena in downtown Newark where the Devils (NHL) and Seton Hall University
play. Downtown Newark also houses the New Jersey Performing Arts Center and Bears
and Eagles Riverfront Stadium, home of the Newark Bears, a minor-league baseball team.
Numerous community colleges and universities are located in the metro, including Seton
Hall University, the Newark campus of Rutgers University, Stevens Institute of Technology,
William Paterson University and Bergen Community College.
QUALITY OF LIFE
3
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s
Analytics; U.S. Census Bureau
185 ENGLE ST
2019 Population by Age
0-4 YEARS
6%5-19 YEARS
18%20-24 YEARS
6%25-44 YEARS
28%45-64 YEARS
27%65+ YEARS
14%
38.6
2019MEDIAN AGE:
U.S. Median:
38.1
$78,100
2019 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
$60,800
4M
2019POPULATION:
Growth2019-2024*:
1.7%
1.5M
2019HOUSEHOLDS:
2.2%
Growth2019-2024*:
21
Employment gains, rent affordability boost office space demand. Fueled by the
robust tri-state area economy, the Northern New Jersey office market is rapidly
tightening. Space demand has maintained positive momentum, contracting vacancy
350 basis points since peaking at 18.6 percent in 2013. Meanwhile, the rental discount
compared with nearby New York City has exceeded $35 per square foot, drawing
greater tenant interest as firms look to exploit meaningfully cheaper accommodations.
Locations near mass transit have generated the most interest, particularly in Hudson
and Essex counties. Despite the steady improvement, developers have shown only
passing interest in new projects, with new supply primarily targeting pre-identified
tenants. However, rent growth has yet to accelerate, with operators focused on
clearing the excess inventory still on the market.
Essex County assets, LG Electronics headquarters highlight pipeline. As
vacancy rates continually slide, firms remain interested in high-quality offerings.
Developers have begun to expand the pipeline marginally, lifting deliveries to a four-
year high. Incoming supply will be primarily located in Essex County, led by the
Ironside mixed-use project in Newark. Elsewhere, the long-awaited North American
headquarters for LG Electronics will finally be brought to market in Englewood Cliffs.
Together, these two offerings account for nearly three-quarters of incoming supply,
promoting a bright outlook for the market this year.
Rental Arbitrage Sparks Significant Net Absorption
In Northern New Jersey
NORTHERN NEW JERSEY
* Cap rates trailing 12 months through 1Q19
Sources: CoStar Group, Inc.; Real Capital Analytics
Investment Trends
Office 2019 Outlook
1.04 million sq. ft. will be
completed
1.6% increase in
asking rents
30 basis point
increase in vacancy
Construction:
Rents:
Vacancy:
Development soars nearly seven times the
previous year;s level, when 154,800 square
feet was brought online.
The average asking rent reaches $27.41 per
square foot as new Class A projects in high-
rent locations are delivered. Last year, a 2.9
percent gain was recorded.
Vacancy falls 30 basis points to 15.1 percent
as firms exploit the significant rent discounts
available in Northern New Jersey compared
with New York City.
• Motivated by cap rates that can exceed New York City by up to 300 basis
points in some instances, New York-based investors remain the primary
capital allocators to Northern New Jersey office properties. Locations in
Hudson and Essex County remain the primary focus, lifting dollar volume
above $1.6 billion over the past 12 months.
• Cap rates will broadly price in the mid-6 to mid-7 percent range, fueled by
properties along major mass-transit routes. While assets along the Hudson
River in Jersey City and Hoboken command a considerable premium, even
more lucrative yields can be achieved farther into Essex and Morris counties.
• While performance in Union County has been robust, with vacancy rates the
lowest in the region, investors have shown little impetus to acquire properties
priced below the market average. As a result, cap rates can reach nearly 8
percent.
185 ENGLE ST
22
• Over the past four quarters,
Northern New Jersey employers
created 24,900 jobs, expanding
total employment by 1.2 percent.
This represents a moderate
acceleration from the previous
year, when 20,200 positions
were created.
• The education and health
services and leisure and
hospitality sectors led
employment gains in the metro,
tacking on roughly 5,100
positions each. Unemployment
has fallen below 2 percent.
EMPLOYMENT
• Deliveries cooled dramatically
over the past year, sliding
from more than 430,600
square feet in the previous 12-
month period. Both Hudson
and Essex counties received
more than 80,000 square feet.
• Roughly 1.04 million square
feet is expected to be
completed this year, led by the
mixed-use Ironside project in
Newark at 400,000 square feet
of office space.
CONSTRUCTION
• The metro vacancy rate slid 70
basis points to 15.1 percent
over the past year as net
absorption soared to 1.46
million square feet, far
outpacing supply growth.
• Improvement was most
pronounced in Passaic
County, where net absorption
of 303,000 square feet and no
new development dropped
vacancy 280 basis points to
11 percent.
VACANCY
• During the past four quarters,
the average asking rent tacked
on 1.9 percent to $26.83 per
square foot, reversing the 1.9
percent decline recorded in
the previous yearlong period.
• Proximity to Manhattan
continues to power dramatic
rent growth in Hudson
County, where the average
asking rent vaulted 8.6
percent to $30.16 per square
foot. The gain was even more
dramatic in Class A spaces,
where a 12.4 percent
advancement occurred.
RENTS
NORTHERN NEW JERSEY
decrease in the
average asking rent
Y-O-Y
1.9%basis point decrease
in vacancy Y-O-Y70square feet
completed
Y-O-Y
238,000increase in total
employment Y-O-Y1.2%
* Forecast
1Q19 – 12-Month Trend
185 ENGLE ST
23
Hudson, Essex County Assets Power Price Appreciation; Yield Strategies Pervasive
Outlook: Relatively more affordable
spaces will prompt continued tenant
migration across the Hudson River,
rewarding investors in well-located assets
with modern amenities and construction.
Vacancy
Rate
Y-O-Y
BasisPoint
Change
SubmarketAsking
Rent
Y-O-Y%
Change
Union County 8.7% -130 $25.00 0.2%
Passaic County 11.0% -280 $22.24 4.7%
Bergen County 13.2% -120 $26.36 0.1%
Essex County 14.5% -110 $26.45 -2.3%
Hudson County 14.9% 40 $30.16 8.6%
Morris County 21.3% 20 $27.18 2.3%
Overall Region 15.1% -70 $26.83 1.9%
Submarket Trends
Lowest Vacancy Rates 1Q19
Sales Trends
NORTHERN NEW JERSEY
• Overall deal flow moderated somewhat as the average price per square foot reached
nearly $210. Properties in Hudson and Essex counties underpinned considerable
appreciation as New York-based investors sought higher yields.
• First-year returns were broadly in the high-6 to low-7 percent range, providing
significant opportunities for yield-based strategies.
* Trailing 12 months through 1Q19 over previous time period
Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics
185 ENGLE ST
*1Q19
**2018
24
NORTHERN NEW JERSEY
185 ENGLE ST
• Ongoing trade concerns weigh on growth outlook; Fed plots next steps. Amid rising
trade tensions between the U.S. and China and slowing global growth, the outlook has turned
more cautious. Market volatility, along with a flight to safety trade, has flattened the yield curve
dramatically, with the 10-Year Treasury trading below 2.2 percent. This has pushed the
broader yield curve into inversion, a closely watched precursor to a potential recession.
Meanwhile, many measures of the domestic economy remain buoyant, including continued
job and wage growth, historically low unemployment and muted inflationary pressure. These
conditions have prompted a dichotomy, with Federal Reserve officials signaling more
accommodative policies. The impending end of quantitative tightening in September, coupled
with potential cuts to the Fed funds rate in the second half of the year, highlight the shift in Fed
policy. As a result, long-term interest rates are likely to remain subdued, with Fed policy
leaning toward accommodation.
• Conservative underwriting balances abundant marketplace liquidity. While debt
availability for office assets remains widely available from a wide range of sources including
local, regional and national banks and insurance companies, sentiment surrounding the health
of the economy has fallen somewhat in recent months. Lenders remain broadly cautious in
underwriting, with loan-to-value (LTV) ratios typically in the 55 to 70 percent range, depending
on the borrower, asset and location. The conservative approach has filtered into a focus on
proven property results, with much less willingness to lend against pro forma rents. This has
prompted investors to turn toward short-term mezzanine debt and bridge loans to cover
capital improvements, while seeking long-term solutions once returns have been solidified.
Construction origination remains muted, with lenders focusing on core locations with proven
demand. * Trailing 12 months through 1Q19
Include sales $2.5 million and greater
Sources: CoStar Group, Inc.; Real Capital Analytics
Capital Markets
PROPERTY NAME
MARKETING TEAM
185 ENGLE ST
DEMOGRAPHICS
Source: © 2019 Experian
Created on August 2020
POPULATION 1 Miles 3 Miles 5 Miles
▪ 2024 Projection
Total Population 19,490 141,044 1,072,528
▪ 2019 Estimate
Total Population 19,348 139,344 1,057,699
▪ 2010 Census
Total Population 18,723 135,355 1,018,796
▪ 2000 Census
Total Population 18,671 132,750 1,022,652
▪ Current Daytime Population
2019 Estimate 21,868 130,124 851,732
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
▪ 2024 Projection
Total Households 7,138 52,382 395,594
▪ 2019 Estimate
Total Households 7,056 51,549 387,833
Average (Mean) Household Size 2.72 2.68 2.68
▪ 2010 Census
Total Households 6,721 48,992 368,071
▪ 2000 Census
Total Households 6,568 48,374 363,961
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
▪ 2019 Estimate
$200,000 or More 16.49% 19.04% 7.16%
$150,000 - $199,999 9.28% 11.86% 6.26%
$100,000 - $149,000 17.48% 19.58% 13.04%
$75,000 - $99,999 11.60% 11.16% 10.63%
$50,000 - $74,999 13.12% 12.42% 15.36%
$35,000 - $49,999 9.56% 8.20% 11.62%
$25,000 - $34,999 6.24% 4.97% 8.84%
$15,000 - $24,999 6.37% 5.50% 10.45%
Under $15,000 9.36% 7.63% 13.96%
Average Household Income $137,099 $147,973 $86,204
Median Household Income $84,932 $101,074 $53,481
Per Capita Income $50,084 $54,848 $31,828
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
▪ Population By Age
2019 Estimate Total Population 19,348 139,344 1,057,699
Under 20 24.10% 24.70% 24.90%
20 to 34 Years 19.11% 16.47% 22.90%
35 to 39 Years 7.07% 6.40% 6.92%
40 to 49 Years 13.48% 13.36% 12.80%
50 to 64 Years 20.12% 21.27% 18.63%
Age 65+ 16.13% 17.80% 13.88%
Median Age 39.80 41.89 36.55
▪ Population 25+ by Education Level
2019 Estimate Population Age 25+ 13,489 97,021 717,840
Elementary (0-8) 3.35% 2.33% 9.01%
Some High School (9-11) 7.03% 4.22% 10.32%
High School Graduate (12) 26.55% 20.47% 23.88%
Some College (13-15) 15.04% 13.10% 15.16%
Associate Degree Only 3.82% 4.71% 5.80%
Bachelors Degree Only 24.03% 31.11% 20.32%
Graduate Degree 19.08% 23.06% 12.91%
25
PROPERTY NAME
MARKETING TEAM
185 ENGLE ST
DEMOGRAPHICS
Source: © 2019 Experian
Created on August 2020
POPULATION BY
TRANSPORTATION TO WORK1 Miles 3 Miles 5 Miles
▪ 2019 Estimate Total Population
Bicycle 0.25% 0.22% 0.26%
Bus or Trolley Bus 14.04% 14.27% 14.30%
Carpooled 8.24% 9.45% 7.03%
Drove Alone 63.90% 64.11% 35.81%
Ferryboat 0.22% 0.18% 0.17%
Motorcycle 0.47% 0.14% 0.06%
Other Means 1.29% 0.84% 0.89%
Railroad 0.37% 1.10% 2.26%
Streetcar or Trolley Car 0.00% 0.02% 0.25%
Subway or Elevated 0.28% 1.71% 26.87%
Taxicab 0.08% 0.08% 0.54%
Walked 7.03% 3.35% 7.35%
Worked at Home 3.83% 4.53% 4.22%
POPULATION BY TRAVEL TIME
TO WORK1 Miles 3 Miles 5 Miles
▪ 2019 Estimate Total Population
Under 15 Minutes 20.02% 16.81% 13.38%
15 - 29 Minutes 28.94% 27.27% 21.50%
30 - 59 Minutes 26.04% 25.51% 28.23%
60 - 89 Minutes 14.16% 16.33% 18.38%
90 or More Minutes 2.59% 4.13% 5.48%
Worked at Home 3.83% 4.53% 4.22%
Average Travel Time in Minutes 35 38 43
26
Income
In 2019, the median household income for your selected geography is
$53,481, compare this to the US average which is currently $60,811.
The median household income for your area has changed by 42.09%
since 2000. It is estimated that the median household income in your
area will be $57,882 five years from now, which represents a change
of 8.23% from the current year.
The current year per capita income in your area is $31,828, compare
this to the US average, which is $33,623. The current year average
household income in your area is $86,204, compare this to the US
average which is $87,636.
Population
In 2019, the population in your selected geography is 1,057,699. The
population has changed by 3.43% since 2000. It is estimated that the
population in your area will be 1,072,528.00 five years from now,
which represents a change of 1.40% from the current year. The
current population is 47.81% male and 52.19% female. The median
age of the population in your area is 36.55, compare this to the US
average which is 38.08. The population density in your area is
13,444.23 people per square mile.
Households
There are currently 387,833 households in your selected geography.
The number of households has changed by 6.56% since 2000. It is
estimated that the number of households in your area will be 395,594
five years from now, which represents a change of 2.00% from the
current year. The average household size in your area is 2.68
persons.
Employment
In 2019, there are 293,264 employees in your selected area, this is
also known as the daytime population. The 2000 Census revealed that
62.81% of employees are employed in white-collar occupations in this
geography, and 37.31% are employed in blue-collar occupations. In
2019, unemployment in this area is 5.55%. In 2000, the average time
traveled to work was 43.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
37.34% White, 19.72% Black, 0.06% Native American and 11.02%
Asian/Pacific Islander. Compare these to US averages which are:
70.07% White, 12.87% Black, 0.19% Native American and 5.66%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 51.77% of the current year
population in your selected area. Compare this to the US average of
18.17%.
PROPERTY NAME
MARKETING TEAM
185 ENGLE ST
Housing
The median housing value in your area was $404,044 in 2019,
compare this to the US average of $212,058. In 2000, there were
105,972 owner occupied housing units in your area and there were
257,989 renter occupied housing units in your area. The median rent
at the time was $618.
Source: © 2019 Experian
DEMOGRAPHICS
27
8
185 ENGLE ST
DEMOGRAPHICS
28
