A FOR SALE OFFERING OF SAPONI PROFESSIONAL CENTRE STEPHENSON AVENUE SAVANNAH, CHATHAM COUNTY, GEORGIA 31405

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1 A FOR SALE OFFERING OF SAPONI PROFESSIONAL CENTRE STEPHENSON AVENUE SAVANNAH, CHATHAM COUNTY, GEORGIA PRESENTED BY WHITLEY AND ASSOCIATES, INC. 800 COMMERCIAL COURT, SUITE TWO, SAVANNAH, GEORGIA 31406

2 OFFERING DISCLAIMER This offering summary has been prepared solely for informational purposes. It has been designed to assist a potential investor in determining whether it wishes to proceed with an in-depth investigation of the subject property. While the information contained herein is from sources deemed reliable, it has not been independently verified by the owner (Anna M. Brancato), the owner s agent (Whitley & Associates, Inc.) or any of its affiliates. Therefore, neither the owner, the owner s agent (Whitley & Associates, Inc.) nor its affiliates make any representations with respect to the information. The projections and pro forma budgets contained herein represent best estimates based on assumptions considered reasonable under the circumstances. No representations or warranties, expressed or implied are made that actual results will conform to such projections. This document is provided subject to errors, omissions, and changes in the information and is subject to modification or withdrawal. The contents herein are not to be reproduced without the express written consent of the owner or any of its affiliates. The owner expressly reserves the right, at their sole discretion, to reject any or all proposals or expressions of interest in the subject property and to terminate discussions with any party at any time with or without notice. In addition, it is expressly understood, that any other agent, prospective purchaser or purchaser has not relied on the information as contained herein and any decision to acquire is based solely on the acquiring parties and it s agents if applicable, independent personal inspections and due diligence.

3 PROPERTY SUMMARY Property Name: Property Address: Property Type: Saponi Professional Centre Stephenson Avenue Savannah, Chatham County, Georgia Professional Office Complex Property Identification Number: Site Area: Building Improvements: Zoning: Acres (SAGIS) Two, Two Story Professional Office Buildings Comprising An Approximate Aggregate 15,432 Square Feet. Residential - Institutional - Professional (RIP) Proforma Stabilized Net Operating Income: $149,711 Offering Price: $2,000, For Additional Information Please Contact Ben G. Whitley Jennifer M. Collins Whitley & Associates, Inc. Whitley & Associates, Inc. 22 Barnard Street 800 Commercial Court, Suite Two Savannah, Georgia Savannah, Georgia Office: Office: Mobile: Mobile: ben@whitleyandassociates.com jennifermcollins44@gmail.com

4 PHYSICAL ATTRIBUTES

5 PROPERTY DESCRIPTION Address/Location : Stephenson Avenue Savannah, Chatham County, Georgia Property Type/Use : Class B Professional Office Complex Site Size and Boundaries : The underlying land area is estimated to comprise approximately 1.60 acres. With reference to SAGIS, the nearly rectangular site along its southern boundary fronts approximately 266 lineal feet along the northside of the westbound lane of Stephenson Avenue, has an eastern noncontiguous boundary of approximately 250 lineal feet of which approximately 226 lineal feet fronts along the westside of the southbound lane of Stephenson Avenue, a northern noncontiguous boundary of approximately 300 lineal feet and a western boundary of approximately 232 lineal feet. Access : Direct access to and from the asset is available via two curb cuts. The primary access point is located along the Stephenson Avenue frontage approximately 165 lineal feet east of the Habersham Street intersection and the secondary vehicular access point is located along the westside of the southbound lane of Habersham Street approximately 115 lineal feet north of the Stephenson Avenue intersection. Stephenson Avenue is a secondary commercial arterial that commences at White Bluff Road and terminates at Waters Avenue. This four lane divided median arterial is developed with a mix of various commercial, professional and medical office, institutional and residential uses and is signalized at the Habersham Street intersection. Habersham Street although primarily a secondary residential corridor, general commercial uses align at various intervals. It commences within Savannah s Nationally Registered Historic District to the north and terminates at the Stephenson Avenue intersection. Building and Site Improvements Description : With reference to the records of Chatham County, it appears the subject complex was constructed in phases commencing during 1983 and comprises, two, two-story professional office buildings oriented within the confines of an approximate 1.60 acre site.

6 130 Stephenson Avenue was reportedly constructed during 1986 and is estimated to comprise an aggregate 6,652 square feet equally divided between two floors. It appears to have been constructed at grade on a concrete monolithic slab positioned on concrete footings. The superstructure is assumed to be wood frame finished with an exterior of face brick, vinyl siding and pigmented enhanced hard-coat stucco appointments. The roof superstructure is wood frame finished with a standing seam metal roof. Exterior fenestration includes glass in aluminum frame doors and dual pane fixed glass windows. Internally, this building is currently demised as six tenant suites ranging in size from approximately 624 to 1,980 square feet. Interior finishes slightly vary for the individual suites but generally include ceramic tile, vinyl tile, laminate and carpeted flooring, painted and papered gypsum wallboard walls, suspended acoustical tile ceilings and lighting is generally provided via flush mounted florescent fixtures. Interior fenestration generally includes wood solid and molded doors in wood frames and each suite is independently climate controlled. 132 Stephenson Avenue was reportedly constructed during 1983 and is estimated to comprise an aggregate 8,880 square feet equally divided between two floors. It appears to have been constructed at grade on a concrete monolithic slab positioned on concrete footings. The superstructure is assumed to be wood frame finished with an exterior of face brick and pigmented enhanced hard-coat stucco appointments. The roof superstructure is wood frame finished with a standing seam metal roof. Exterior fenestration includes glass in aluminum frame doors and dual pane fixed glass windows. Internally, this building is currently demised as six tenant suites ranging in size from approximately 725 to 2,425 square feet. Interior finishes vary slightly for the individual suites but generally include ceramic tile, vinyl tile and carpeted flooring, painted and papered gypsum wallboard walls, suspended acoustical tile ceilings and lighting is generally provided via flush mounted florescent fixtures. Interior fenestration generally includes wood solid and molded doors in wood frames and each suite is independently climate controlled. In addition, this building is served by a single cab elevator. Site Improvements : Hardscape improvements include concrete sidewalks, curbs, gutters and vehicular drives and parking areas to accommodate approximately 60 vehicles. Landscaped improvements feature numerous trees, various flowering bushes, shrubs and grassed areas.

7 THE SAPONI PROFESSIONAL CENTRE TENANT LEGEND Building/Suite Tenant Useable Square Feet Contract Per Square Foot /Monthly/ Annual Rent As Of May Stephenson Avenue/ Suites 101 And 103 Epps Medical Associates - Willie D. Epps, Jr. D.O. +- 1,980 $15.00/$2,475/$29,700 Five year lease commenced October 1, Tenant pays $60.00 per month for utility - dumpster reimbursement. 130 Stephenson Avenue/ Suites 102 and 104 Chad Brock, MD +-1,250 $15.36/$1,600/$19,200 Three year lease commenced November 1, Tenant pays $30.00 per month for utility - dumpster reimbursement. 130 Stephenson Avenue/ Suite 201 Dr. Salvatore Brancato, DDS Offering Rental Of $15.00 PSF Owner Occupied - No Lease. Offering terms of minimum three year lease subject to 3% annual increases and monthly reimbursement expense of $ Stephenson Avenue/ Suite 202 TIG Financial Visions $12.55/$680/$8,160 Month To Month 130 Stephenson Avenue/ Suite 203 Chad Brock, MD $14.23/$860/$10,320 Lease to run concurrent with existing tenancy at suites 102 and Stephenson Avenue/ Suite 204 Evan Murphy (Farmers Insurance) $11.59/$700/$8,400 Tenant exercised one year renewal option terminating February 28, Tenant pays $30.00 per month for utility - dumpster reimbursement. 132 Stephenson Avenue/ Suites 101 and 103 Atlantic Counseling +-2,000 $17.33/$2,889/$34,668 Three year lease commenced January 1, Tenant pays $40.00 per month for utility - dumpster reimbursement. 132 Stephenson Avenue/ Suite 102 Elks Aidmore +-1,000 $19.48/$1,623/$19,476 Three year lease commenced March 1, Tenant pays $60.00 per month for utility - dumpster reimbursement.

8 132 Stephenson Avenue/ Suite 104 Elks Aidmore +-1,000 $12.00/$1,000/$12,000 Three year lease commenced February Tenant pays $30.00 per month for utility - dumpster reimbursement. 132 Stephenson Avenue/ Suites 201 and 204 Vacant +-2,425 Offering Rental Of $13.00 PSF Offering terms of minimum three year lease subject to 3% annual increases and monthly reimbursement expense of $ Stephenson Avenue/ Suite 202 Draper and Kramer Mortgage Corporation +-1,000 $14.40/$1,200/$14,400 Tenant exercised one year renewal option terminating February 28, Tenant pays $60.00 per month for utility - dumpster reimbursement. 132 Stephenson Avenue/ Suite 203 Alternatives, Inc. +1,000 $14.14/$1,178/$14,136 Three lease commenced November 1, Tenant pays $30.00 per month for utility - dumpster reimbursement.

9 Area and Neighborhood Maps Area Map

10 Neighborhood Map

11 Aerial Images Northerly Aerial View Of The Subject Southerly Aerial View Of The Subject Easterly Aerial View Of The Subject Westerly Aerial View Of The Subject

12 Subject Photographs Northern Or Front Elevation 130 Stephenson Avenue Southern Or Rear Elevation 130 Stephenson Avenue Interior Common Area 130 Stephenson Avenue Interior Common Area 130 Stephenson Avenue

13 Typical Suite Interior 130 Stephenson Avenue Typical Suite Interior 130 Stephenson Avenue Typical Suite Interior 130 Stephenson Avenue Typical Suite Interior 130 Stephenson Avenue

14 Northern Or Front Elevation 132 Stephenson Avenue Southern Or Rear Elevation 132 Stephenson Avenue Interior Common Area 132 Stephenson Avenue Interior Common Area 132 Stephenson Avenue

15 Typical Suite Interior 132 Stephenson Avenue Typical Suite Interior 132 Stephenson Avenue Typical Suite Interior 132 Stephenson Avenue Typical Suite Interior 132 Stephenson Avenue

16 View Of The Southern Parking Area View Of The Eastern Parking Area View Of The Mid-Site Parking Area View Of The Gazebo Amenity

17 SAGIS DIGITAL IMAGE

18 FISCAL ATTRIBUTES

19 SAPONI PROFESSIONAL CENTRE PRO-FORMA STABILIZED OPERATING STATEMENT INCOME Gross Scheduled Income May 1, April 30, 2018 Contract Rents $170,460 (Note 1) Projected Rents Suite $15.00 PUSF 9,360 Suite 201 and 204 2,425 $13.00 PUSF 31,525 Gross Potential Income At 100% Occupancy $211,345 Plus Reimbursements 5,340 TOTAL INCOME $216,685 EXPENSES (Note 2) Ad Valorem Taxes $22,440 Hazard Insurance Premiums 5,939 Repairs and Maintenance General 8,885 Elevator 1,200 HVAC 4,200 Parking Lot 5,000 Janitorial 3,600 Grounds and Landscaping 3,240 Utilities & Trash Removal 10,500 Postage 70 Legal 1,000 Pest Control 900 TOTAL EXPENSES $ 66,974 PRO-FORMA STABILIZED NET OPERATING INCOME $149,711 Note 1: Reference is made to Saponi Professional Centre Tenant Legend Note 2: Reference is made to the 2014, 2015 and 2016 Operating Statements for Saponi Professional Centre provided by ownership.