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SVN | AHIA COMMERCIAL REAL ESTATE | 2050 CABOT BLVD. W, SUITE 102, LANGHORNE, PA 19047 OFFERING MEMORANDUM
UNIQUEHISTORICINVESTMENTOPPORTUNITY103 SOUTH STATE STREETNEWTOWN, PA 18940
Advisor Bio | Glenn GainesPROPERTY INFORMATION 3
Property SummaryComplete HighlightsProperty DetailsAdditional Photos
LOCATION INFORMATION 8Regional MapLocation MapsAerial MapTax Parcel Map
FLOOR PLANS 13Floor Plan I Main LevelFloor Plan I 2nd Level
MUNICIPALITY INFORMATION 16About Newtown BoroughAbout Bucks County
DEMOGRAPHICS 19Demographics ReportDemographics Map
SVN REAL ESTATE TEAM 22Advisor Bio I Chichi E. Ahia
SALE PROPOSALHISTORIC TORBERT HOUSE | 103 S STATE STREET, NEWTOWN, PA 18940
1 PROPERTYINFORMATION
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 3
OFFERING SUMMARY
Sale Price: $1,495,000
Lot Size: 0.08 Acres
Year Built: 1795
Building Size: 3,862 SF
Renovated: 1995
Zoning: TC [Town Center]
Market: Philadelphia
Submarket: Lower Bucks County
Traffic Count: 13,447
Price / SF: $387.11
SVN Ahia Commercial Real Estate is pleased to present a truly exceptional retail investment opportunity in the Heart ofHistoric Newtown Boro, Bucks County, Pennsylvania. The property offers a stately presentation in an uncompromisingenvironment comprised of historic significance and modern relevance. Originally built circa 1795 and expanded over time,this free-standing mixed-use property features over 2,800 square feet of prime retail space on the main level (presentlyhome to a well-established florist, est. 1960) and a 3-4 bedroom apartment above, offering Tenants access to anincomparable downtown living experience.
The Historic Torbert House is positioned adjacent to two National Credit Tenants (Starbucks and GapBody) and proximateto the iconic Steepleview project - a $100MM redevelopment project which is underway in the Borough of Newtown(Phase 1 is complete). Once completed, the project will be the largest in the Borough's history. It is slated to include 110Luxury Condominiums, a 5-story parking garage, town square, and more. Two additional National Credit Tenants havecommitted to the project (Banana Republic & Francesca's).
The site is situated in the Newtown Borough 'Town Center' (TC) zoning district, which allows for a variety of uses by right.The demographics and foot traffic for a successful retail business are in place. This offering represents a unique and trulyextraordinary opportunity to establish a business in the center of Newtown Borough retail renaissance.
PROPERTY OVERVIEW
Property Summary
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE HIGHLIGHTS
• Historic Torbert House - Occupied for many years by Job Hollinshead, a clock
and watch maker, who conducted his business at this site
• Est. circa 1795
• Mixed-use investment opportunity
• Strategic town centre location
• Heavy vehicular and pedestrian traffic
• 2,800 square feet of retail space
• 3 - 4 bedroom apartment
• Near signalized intersection
• Large street-front display windows
• Adjacent to two National Credit Tenants (Starbucks & GapBody)
• Newtown Borough Town Center (TC) Zoning - many allowable uses by right
• Across from a major redevelopment site delivering 110 Luxury Condominiums,
national retailers and a five-story parking garage to Newtown Borough
LOCATION OVERVIEW
• Located near the intersection of State Street and Centre Avenue in the heart of
Historic Newtown Borough in Bucks County - the original County seat. The
historic town is home to eclectic shopping, fine dining, theater and other
cultural attractions. There are over 116,000 residents living within 5-mile radius
with an average household income of $123,000. Newtown Borough is located
40 miles from the Philadelphia International Airport, 32 miles from Downtown
Philadelphia, and 71 miles from NYC.
Complete Highlights
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE PRICE $1,495,000
LOCATION INFORMATION
Street Address 103 South State Street
City, State, Zip Newtown, PA 18940
County/Township Bucks/Newtown
Market Philadelphia
Submarket Lower Bucks County
Cross Streets West Center Street
Nearest Highway Rt. 332
Nearest Airport TTN-Trenton-Mercer Airport [9.7 Mi.] PHL-Philadelphia International Airport [39.9 Mi.]
BUILDING INFORMATION
Building Size 3,862 SF
Number Of Floors 3
Year Built 1795
Construction Status Existing
Roof Rubber Roof, Shingles
Heating Gas/Forced Air Gas Hot Water/Radiator
PROPERTY DETAILS
Property Type Mixed-Use
Property Subtype Retail/Residential
Zoning TC -Town Center
Lot Size 0.08 Acres
APN# 28-002-041
RE Taxes [2018] $9,061
Lot Frontage 33
Lot Depth 106
Traffic Count 13,447
Traffic Count Street East Center Avenue
PARKING & TRANSPORTATION
Street Parking Yes
Municipality Parking Nearby
UTILITIES & AMENITIES
Exterior Description Stone & Siding
Utilities Description Public Water & Public Sewer
Property Details
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
2 LOCATIONINFORMATION
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 8
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Regional Map
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Historic Torbert House
Location Maps
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Historic Torbert House
Aerial Map
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Tax Parcel Map
3 FLOOR PLANS
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 13
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 14The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plan I Main Level
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 15The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Floor Plan
3 MUNICIPALITYINFORMATION
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 16
NEWTOWN BOROUGH, BUCKS COUNTY
After William Penn had laid out Philadelphia, his "great town", in 1682, he traveled norththrough a vast tract of land he had purchased from the local Indians. Some 28 milesnortheast of Philadelphia, in the middle of trees that bordered a creek flowing tothe Delaware River, he allegedly announced "This is where I propose to build my 'newtown'". No documentation supports this tale but, two years later in 1684, William Penn'ssurveyor, Thomas Holme, devised a plan for a new settlement initially called NewTownship. Straddling what is now called Newtown Creek, the site included 640 acres. Intime, the name was shortened to Newtown.
The small village along Newtown Creek became the County Seat of Bucks in 1725 andit remained the center of county government until 1813 when the Court House wasmoved to Doylestown. The village had been settled as part of Newtown Township until itwas incorporated by the Commonwealth of Pennsylvania General Assembly as aborough on April 16, 1838. Borough was enlarged four times since 1838 and itsbuildings show excellent examples of all major architectural styles.
Newtown Borough became one of Bucks County's prominent communities with theconstruction of many substantial colonial residences and taverns. The HistoricDistrict was established in 1969, enlarged in 1976, again in 1985 and is listed on theNational Register of Historic Places. Newtown today still retains the character of thisimportant period of history.Newtown has been and continues to be one of the"coolest small towns in the nation" asdeclared by Yahoo! Travel. With a main street lined with unique shops, taverns andrestaurants as well as a bustling festival calendar, there is always something to see anddo. From historic inns full of history to classic American film, there's plenty to do foreveryone in Newtown, PA.
Caption 1
Caption 2
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 17The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
About Newtown Borough
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 18The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
BUCKS COUNTY, PA
Bucks County is a county located in the Commonwealth of Pennsylvania. As of the 2010 census, the population was 625,249, making it the fourth-mostpopulous county in Pennsylvania and the 98th-most populous county in the United States. The county seat is Doylestown. The county is named afterthe English county of Buckinghamshire. Bucks County is included in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metropolitan Statistical Area, morecommonly known as the Delaware Valley. It is located immediately northeast of Philadelphia and forms part of the southern tip of the eastern state border.
Bucks County is one of the three original counties created by colonial proprietor William Penn in 1682. Penn named the county after Buckinghamshire, thecounty where he lived in England. Penn built a country estate called Pennsbury Manor in Falls Township, Bucks County. Some places in Bucks County werenamed after locations in Buckinghamshire, including Buckingham Township, named after the county town of Buckinghamshire; Chalfont, named after ChalfontSt Giles, the parish home of William Penn's first wife and the location of the Jordans Quaker Meeting House, where Penn is buried; Solebury Township, namedafter Soulbury, England; and Wycombe, named after the town of High Wycombe.Bucks County was originally much larger than it is today. NorthamptonCounty was formed in 1752 from part of Bucks County, and Lehigh County was formed in 1812 from part of Northampton County. The southern third of thecounty between Philadelphia and Trenton, New Jersey, often called Lower Bucks, resides in the Atlantic Coastal Plain, and is flat and near sea level, and thecounty's most populated and industrialized area. Bucks County shares a western border with Montgomery County, and also borders Philadelphia to thesouthwest, and Northampton and Lehigh Counties to the north. From north to south, it is linked to Warren, Hunterdon, Mercer and Burlington Counties in NewJersey by bridges.Tohickon Creek and Neshaminy Creek are the largest tributaries of the Delaware in Bucks County. Tohickon Creek empties into the river atPoint Pleasant and Neshaminy at Croydon (Bristol Township).
•
About Bucks County
5DEMOGRAPHICS
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 19
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 20The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
1 MILE 3 MILES 5 MILES
Total population 6,735 48,745 116,373
Median age 46.5 42.6 41.9
Median age (male) 42.5 40.9 40.3
Median age (female) 47.7 43.2 43.2
Total households 2,671 18,136 41,284
Total persons per HH 2.5 2.7 2.8
Average HH income $115,243 $121,244 $123,777
Average house value $465,974 $427,127 $421,621
* Demographic data derived from 2010 US Census
Demographics Report
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 21The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 6,735 48,745 116,373
Median age 46.5 42.6 41.9
Median age (Male) 42.5 40.9 40.3
Median age (Female) 47.7 43.2 43.2
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 2,671 18,136 41,284
# of persons per HH 2.5 2.7 2.8
Average HH income $115,243 $121,244 $123,777
Average house value $465,974 $427,127 $421,621
* Demographic data derived from 2010 US Census
Demographics Map
5 SVN REALESTATE TEAM
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 22
2050 Cabot Blvd. W, Suite 102Langhorne, PA 19047T 215.757.2500 x101C [email protected] #RM423727NJ #1110096NY #10491207587MD #5000920DE #RB-0020719MA #1000245
PROFESSIONAL BACKGROUND
Chichi is the Executive Director, Principal and Broker of Record of SVN Ahia Commercial Real Estate, primarily servingthe markets of Eastern Pennsylvania and Central through Southern New Jersey. He is a licensed real estate broker in 6states.
Prior to his affiliation with SVN he served as the executive director of the regional division of a Nationally branded, fullservice commercial real estate services firm. He is a consistent Multi-Million Dollar Producer and has won numeroussales and performance awards.
He was selected by Philadelphia Magazine as one of the top Real Estate Brokers in the Suburban Philadelphia market,ranking in the top 5% in customer satisfaction in 2010, 2011, 2012, 2013, 2014, 2015, 2016 and 2017. In 2014 He wasrecognized as one of America’s Most Honored Professionals by the American Registry.
Chichi currently resides in Bucks County with his wife, Sabrina, their four daughters and identical twin sons. In his “freetime” he works on business development and training and mentoring professionals starting businesses. He currentlyserves as chairman of the board of directors for a regional financial institution and in an advisory role to a number ofbusiness organizations. He is also active in his church and plays several musical instruments at a professional level ofproficiency. He and Sabrina love to travel and spend time with family.
EDUCATION
Rider UniversitySchlicher-Krats Real Estate Institute
MEMBERSHIPS & AFFILIATIONS
Licensed Broker, PA, NJ, NY, MA, DE & MD
CHICHI E. AHIA
Executive Director/ Principal
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 23The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Advisor Bio I Chichi E. Ahia
2050 Cabot Blvd. W, Suite 102Langhorne, PA 19047T 215.757.2500C [email protected]
PROFESSIONAL BACKGROUND
Glenn is an Associate Advisor with SVN | Ahia Commercial Real Estate, serving the Pennsylvania market. Prior to hiscareer in commercial real estate, Glenn was the principal of a prominent design/build firm for 15 years.
Glenn specializes in Multi-Family/Apartments & Mixed-Use Investment Sales.
EDUCATION
B.A., University of South Carolina
GLENN GAINES
Associate Advisor
HISTORIC TORBERT HOUSE | 103 S STATE STREET NEWTOWN, PA 18940 SVN | Ahia Commercial Real Estate | Page 24The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Advisor Bio | Glenn Gaines
2050 Cabot Blvd. W, Suite 102Langhorne, PA 19047
215.757.2500 x101SVNAhia.com
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