FOR SALE: 3915 BERYL ROAD. Owner Occupant or Investment

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1 FOR SALE: 3915 BERYL ROAD Owner Occupant or Investment

2 INVESTMENT OVERVIEW 3915 BERYL ROAD LAND PARCEL FOR SALE SIZE ZONING Acres CDF-1 UTILITIES Mikels & Jones Properties is pleased to exclusively list 3915 Beryl Road For Sale. The building is currently a retail/flex/ industrial facility with two tenants. Ambiente Modern Furniture will be vacating on August 31, 2018 leaving 40,140 of mostly conditioned warehouse/flex space available. This property presents an excellent opportunity SITE for an LOCATION owner to purchase/ occupy the vacant space, and collect steady cashflow from the adjoining tenant. TRAFFIC COUNT The building consists of 71,389 rentable square feet sitting on 3.68 acres on Beryl Road. The property is located INSIDE THE BELTLINE directly across Hillsborough Street from Meredith College. This area has grown more popular as Raleigh Brewing Company has made it s name and former national chain restaurants are converting to local establishments attracting locals to the area to enjoy their day out. PRICE The property also could be purchased for redevelopment/repositioning. The current zoning is IX-3, which allows for a number of uses including light manufacturing, residential, service or commercial, and retail. EXCLUSIVE ABSOLUTE NNN LEASE OFFERING

3 PROPERTY ATTRIBUTES ADDRESS 3915 Beryl Road INVESTMENT HIGHLIGHTS Building Condition: Previous tenant invested heavily in the building. The office and conditioned/unconditioned warehouse space has been very well maintained and is move-in ready. CITY/STATE Raleigh, North Carolina ZIP CODE PIN BUILDING SIZE 71,389 SF Unbeatable Location: Located inside the beltline, the property is just a short drive to Downtown Raleigh, walking distance from NC State and Meredith College, and has easy access to I-440. Flexible Use Options: The current zoning gives the next owner/ tenant flexibility for the use of the building going forward. Retail and light industrial uses are permitted. Residential is a possibility with a reconfiguration of the building. LOT SIZE 3.68 AC 1962 (Suite 101) YEAR BUILT 1972 (Suite 102) 18 (Suite 101) CLEAR CEILING HEIGHT (Suite 102) NUMBER OF DOCKS 7 External PRICE TBD

4 CURRENT BUILDING: SUITE 101 Suite 101 is occupied by Ambiente Modern Furniture through August 31, The 40,140 SF space is made up of office, conditioned warehouse, and unconditioned warehouse with the following breakdown: 4,900 SF office 29,240 SF Conditioned Warehouse/Showroom 6,000 SF Unconditioned Warehouse Office: 6 offices, open office space, 2 bathrooms, breakroom, and storage closet New light fixtures, windows and storefront (entrance) Ceilings Warehouse: Five 10-ton HVAC units 2015 Brand New Membrane Roof 2014 Carlisle TPO Roof System with a 20 year warranty New light fixtures Clear Ceilings Dry Sprinkler System 3 docks; 2 dock levelers Covered 2 bathrooms

5 CURRENT BUILDING: SUITE 102 Suite 102 is occupied by HWM Office Environments. HWM has 34 months remaining on their lease with three 2-Year options. HWM space: 28,729 SF of Unconditioned Warehouse 2,520 SF of Conditioned Office Clear Ceilings Office: 5 offices, conference room, workstation area, 2 bathrooms, storage, utility closet Two 4-Ton Heating/Air units 2011 AT&T Fiber Warehouse: 4 docks; 3 dock levelers Wet Sprinkler System Breakroom Favorable Lease Terms: Landlord is responsible for roof and walls only Tenant is in charge of all other expenses Tenant Information (

6 DEMOGRAPHICS The Hillsborough Street corridor has seen tremendous growth over the past decade. NC State has taken the initiative to improve the flow and walkability of the campus, and the overall quality and standing of the academics. With this approach, the student body has been increasing and the student living is expanding out. Long term this location presents opportunity for redevelopment as more students and young professionals move into surrounding neighborhoods due to lower home prices. This property is very much in the path of growth, and time will only show an increase in value. DEMOGRAPHICS 1 Mile 3 Mile 5 Mile 2018 Total Population 12,444 89, , Predicted Population 13,257 98, ,357 Average Age Total # of Households 3,087 36,741 90,809 Median Household Income $44,986 $57,310 $59,691 Median Home Value $361,193 $370,164 $293,302 DAILY TRAFFIC COUNT Beryl Road 6,300 Hillsborough Street 18,540

7 ZONING MAP The subject property is located within the City of Raleigh zoning jurisdiction. The property is currently zoned IX-3, which means the building s use can be up to 3 stories of Industrial Mixed Use. This gives flexibility for the following uses: Light industrial and manufacturing Retail 3901 BARRETT DR Service and commercial activity Limited housing opportunities (upper stories) Potential tenants include restaurant, brewery, grocery, fitness club, furniture store, bottling, clothing/textile apparel manufacturing, showroom/warehouse, etc.

8 SURVEY

9 VALUE-ADD OPPORTUNITIES Lease-Up Signing a strong-credit tenant to occupy the vacant space at a rental rate that shows the value of the location and airconditioned warehouse. There is also an opportunity to raise rents at the end of HWM s lease to market rent for this location. Repositioning The property could be repositioned into a number of uses under the current zoning. The vacant portion is currently used as an air-conditioned showroom, but could potentially be used for self-storage, creative office, or redeveloped to 3901 BARRETT DR accommodate residential. Parking There are a number of places throughout the property where parking can be added including: Loading Lot that goes to Suite 102 Grassy areas throughout the property Driveway area in the front Street parking (Lot line goes to the middle of Beryl Road)

10 NEIGHBORHOOD MAP

11 MARKET HIGHLIGHTS Consistent Growth: Raleigh is one of the fastest growing cities in the nation. The low cost of living, increase in job opportunities, ideal location, and overall quality of life has led to consistent population growth and a 7% increase in GDP, according to the U.S. Cen- LAND PARCEL FOR SALE sus Bureau. SIZE Acres colleges throughout the Triangle, companies are drawn ZONING CDF-1 to the Raleigh market in search of highly educated can- UTILITIES Academic Hub: With North Carolina State, Duke, The University of North Carolina, and a number of smaller didates. Forbes rated Raleigh the #2 Most Educated City in the Country. SITE LOCATION Healthy Job Sector: Due to low business costs, high TRAFFIC COUNT educational regard, and overall population growth - Raleigh has seen tremendous business growth over the past decade. Raleigh ranked #4 in the Best Cities PRICE For Jobs, according to Glassdoor.

12 FOR SALE: 3915 BERYL ROAD Owner Occupant or Investment