Current Properties

Shrub Oak Shopping Center

East 23rd
Property Shrub Oak Shopping Center, located in the Shrub Oak, Section of Yorktown in Westchester County.
Description Neighborhood shopping center, anchored by an A&P supermarket, situated on 10.8 acres of land consisting of 46,586 improved sq. ft.
Date Purchased February 2002
Purchase Amount $3,950,000
Condition at time of Purchase Property was 100% leased but mismanaged.
Repositioning Since acquisition, many of the properties operating expenses were reduced. 100% of the tenants have been retained. Tenants have either exercised their options or renegotiated extensions at higher rents. Market rents have increased from $20 to $30 – $35 per sq. ft.
Date Sold N/A – Still Owned
Estimated F.M.V $10,000,000, (excluding the expansion value of the land).
Cash Distributions Investors having consistently received, on a monthly basis a 20% annual cash-on-cash return on their remaining capital investment.
Other Financial Benefits Any net mortgage refinance proceeds, as well as their share of the property’s substantial appreciation when the property is sold.

The area has experienced a steady growth in both new residential and commercial construction. The property’s zoning permits an additional 19,000 – 20,000 sq. ft. of retail space to be built on the property which, when developed, will add both substantial revenue and value to the property.

Shrub Oaks
Shrub Oaks

Contact Info

Rolling Cash Equity Group
1430 Broadway - 14th floor
New York, N.Y. 10018
Tel: 646-519-8490
Fax: 646-519-8494