SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC Spencer Crigler Associate Advisor

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1 SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC Spencer Crigler Associate Advisor Thomas McMahon, CCIM Managing Director Frank Sproviero, CPM Director of Management Services x6971

2 PROPERTY INFORMATION 3 Executive Summary Property Description Property Details Additional Photos LOCATION INFORMATION 8 Regional Map Location Maps Aerial Map FINANCIAL ANALYSIS 12 Income & Expenses Rent Roll SALE COMPARABLES 15 Sale Comps Sale Comps Summary Sale Comps Map DEMOGRAPHICS 20 Demographics Report Demographics Map ADVISOR BIOS 23 Advisor Bio & Contact 1 Advisor Bio & Contact 2 Advisor Bio & Contact 3 SVN Commercial Real Estate Advisors West Catawba Avenue Suite 102, Charlotte, NC OFFERING MEMORANDUM

3 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC PROPERTY INFORMATION 1 PROPERTY INFORMATION 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 3 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

4 Executive Summary OFFERING SUMMARY Sale Price: $5,899,000 Cap Rate: 8.0% NOI: $469,655 PROPERTY OVERVIEWVIEW 70,756 SF Shopping Center for sale in Hickory, NC. Shopping center is located right next to a brand new Neighborhood Walmart, and many fast-food restaurants, including McDonald's, Taco Bell, and Burger King. These restaurants help bring a high traffic count to the already, heavily traveled Springs Rd. PROPERTY HIGHLIGHTS Lot Size: Acres Dollar Tree, Galaxy Foods and ABC store anchored center Year Built: 1995 Building Size: 70,756 Zoning: CC-1 Price / SF: $83.37 Shopping center is parallel to Springs Rd. for maximum visibility Located 10 minutes away from Lenoir-Ryne University Surrounded by many major retailers that help increase daily traffic counts Brand new Neighborhood Walmart located next to center SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 4

5 Property Description PROPERTY OVERVIEWVIEW 70,756 SF Shopping Center for sale in Hickory, NC. Shopping center is located right next to a brand new Neighborhood Walmart, and many fast-food restaurants, including McDonald's, Taco Bell, and Burger King. These restaurants help bring a high traffic count to the already, heavily traveled Springs Rd. LOCATION OVERVIEWVIEW Hickory, NC is situated in a friendly business town between Charlotte and Asheville. Hickory home to Lenoir-Ryne University, benefits from it's convenience off I-40 as well as the furniture industry that has been steady for many years. A recent estimate noted that 60% of the nation's furniture used to be produced in Hickory and other surrounding markets. SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 5

6 Property Details SALE PRICE $5,899,000 LOCATION INFORMATION Building Name Street Address Springs Corner 2501 Springs Rd NE City, State, Zip Hickory, NC County/Township Catawba PROPERTY DETAILS Property Type Retail Property Subtype Neighborhood Center Zoning CC-1 Lot Size Acres APN# BUILDING INFORMATION Building Size 70,756 SF Occupancy % 100% Tenancy Multiple Year Built 1995 SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 6

7 Additional Photos SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 7

8 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC LOCATION INFORMATION 2 LOCATION INFORMATION 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 8 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

9 Regional Map Springs Corner SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 9

10 Location Maps SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 10

11 Aerial Map Springs Corner SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 11

12 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC FINANCIAL ANALYSIS 3 FINANCIAL ANALYSIS 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 12 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

13 Income & Expenses INCOME SUMMARY SPRINGS CORNER PER SF Gross Rent $517,742 $7.32 CAM Reimbursement $79,832 $1.13 Gross Income $597,574 $8.45 EXPENSE SUMMARY SPRINGS CORNER PER SF Insurance $8,217 $0.12 Taxes $44,956 $0.64 Utilities $23,388 $0.33 Cleaning and Maintenance $22,650 $0.32 Repairs $9,999 $0.14 Management $18,709 $0.26 Gross Expenses $127,919 $1.81 Net t Operating Income $469, $ SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 13

14 Rent Roll TENANT NAME UNIT NUMBER UNIT SIZE (SF) LEASE START LEASE END LEASE START ANNUALAL RENT % OF GLA PRICE PER SF/YR RECOVERY TYPE COMMENTS Sakura ,860 7/1/2015 7/1/2020 Current $40, $14.06 Subway ,391 9/1/2013 8/31/2019 Current $19, $14.23 Village Inn Pizza ,494 4/1/2009 3/31/2017 Current $30, $12.03 Nationwide ,015 5/1/2014 5/30/2019 Current $10, $10.64 Vacant Current $ $0.00 Salon M2M M2M Current $9, $14.63 Boost Mobile /1/2015 3/31/2020 Current $10, $ st Star Nails ,200 1/1/2007 1/1/2013 Current $14, $12.00 H & R Block ,200 8/1/2010 4/30/2021 Current $15, $12.60 Dollar Tree ,450 0/27/ /1/2019 Current $67, $8.00 Primetime Video ,600 6/1/2010 6/1/2016 Current $42, $11.67 Fresh Air Galaxy ,000 11/15/ /30/2020 Current $205, $4.66 ABC Store ,400 7/17/2012 7/17/2022 Current $42, $17.52 Wells Fargo ATM 1 Current $10, $10, Totals/Averages 70, $517, $7.31 $0 $0 SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 14

15 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC SALE COMPARABLES 4 SALE COMPARABLES 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 15 All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

16 Sale Comps SUBJECT PROPERTY 2501 Springs Rd NE Hickory, NC Sale Price: $5,899,000 Lot Size: AC Year Built: 1995 Building SF: 70,756 SF Price PSF: $83.37 Cap: 8.0% NOI: $469,655 1 MOUNTAIN VIEW MARKETPLACE 2653 S NC 127 Hwy Hickory, NC Sale Price: $6,100,000 Lot Size: 0 AC Year Built: 2001 Building SF: 53,445 SF Price PSF: $ Closed: 06/26/ UNION ROAD Gastonia, NC Sale Price: $5,475,000 Lot Size: 0 AC Year Built: 1993 Building SF: 59,870 SF Price PSF: $91.45 Closed: 09/13/ SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 16

17 Sale Comps 3 MARKET SQUARE S Cannon Blvd Kannapolis, NC Sale Price: $4,725,000 Lot Size: 0 AC Year Built: 1989 Building SF: 51,018 SF Price PSF: $92.61 Closed: 05/26/ SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 17

18 Sale Comps Summary SUBJECT PROPERTY Springs Corner 2501 Springs Rd NE Hickory, NC PRICE BLDG SF PRICE/SF CAP $5,899,000 70,756 SF $ % 13 # OF UNITS SALE COMPS PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE Mountain View Marketplace 2653 S NC 127 Hwy Hickory, NC Union Road Gastonia, NC Market t Square S Cannon Blvd Kannapolis, NC $6,100,000 53,445 SF $ /26/2014 $5,475,000 59,870 SF $ /13/2013 $4,725,000 51,018 SF $ /26/2016 PRICE BLDG SF PRICE/SF Totals/Averages $5,433,333 54,778 SF $ CAP # OF UNITS CLOSE SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 18

19 Sale Comps Map SUBJECT PROPERTY 2501 Springs Rd NE Hickory, NC MOUNTAIN VIEW MARKETPLACE S NC 127 Hwy Hickory, NC UNION ROAD 2 Gastonia, NC MARKET SQUARE S Cannon Blvd Kannapolis, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 19

20 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC DEMOGRAPHICS 5 DEMOGRAPHICS 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. SVN Commercial Real Estate Advisors Page 20

21 Demographics Report 1 MILE 3 MILES 5 MILES Total population 4,568 32,259 70,238 Median age Median age (male) Median age (female) Total households 1,837 12,722 27,628 Total persons per HH Average HH income $48,857 $54,393 $60,205 Average house value $135,035 $147,907 $185,023 * Demographic data derived from 2010 US Census SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 21

22 Demographics Map POPULA POPULATION TION 1 MILE 3 MILES 5 MILES 4,568 32,259 70,238 Median age Median age (male) Median age (Female) MILE 3 MILES 5 MILES 1,837 12,722 27,628 # of persons per HH Average HH income $48,857 $54,393 $60,205 Average house value $135,035 $147,907 $185,023 Total population HOUSEHOLDS & INC INCOME OME Total households * Demographic data derived from 2010 US Census SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 22

23 FOR SALE RETAIL SPRINGS CORNER 2501 Springs Rd NE Hickory, NC ADVISOR BIOS 6 ADVISOR BIOS 2501 Springs Rd NE Hickory, NC SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC All SVN Offices Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. SVN Commercial Real Estate Advisors Page 23

24 Advisor Bio & Contact 1 SPENCER CRIGLER Associate Advisor PROFESSIONAL BACKGROUND Spencer recently graduated from the University of North Carolina at Charlotte as a Bachelor of Science in Business Administration in Marketing. He is a hardworking and driven young individual with a bright mind and familiar with commercial real estate trends. Specializing in retail investment sales and leasing, the marketing background helps bring the most prospective clients to the table. His great networking connections through BNI also separates himself from the rest of the competition by being more than just a broker, but a reliable businessman that can provide a multitude of professionals to assist any clients needs. Spencer was awarded "Rookie of the Year" in 2016 in his first 6 months as a broker! Stands by 3 important values for commercial real estate; Integrity, Honesty and Expertise! West Catawba Avenue Suite 102 Charlotte, NC T C spencer.crigler@svn.com NC # SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 24

25 Advisor Bio & Contact 2 THOMAS MCMAHON, CCIMCIM Managing Director PROFESSIONAL BACKGROUND Tom McMahon, CCIM & Managing Director of SVN Commercial Real Estate Advisors, has 34 years of experience in the real estate industry and a career transaction volume that exceeds $900 million. Prior to affiliating with SVN, McMahon started and owned another regional CRE company, and was a pioneering top residential agent with Allen Tate. Throughout his career, McMahon s unsurpassed passion for CRE has driven much success and recognition. McMahon has been named one of Charlotte s Top 20 Power Brokers and the Lake Norman Business Person of the Year. He is an educator, teaching a number of classes each year, and is a true industry visionary. According to his clients, whether large or small, there is a consistent belief that he is an upfront, honest advisor with integrity and an unrivaled level of service West Catawba Avenue Suite 102 Charlotte, NC T C tom.mcmahon@svn.com NC # SVN Commercial Real Estate Advisors is a full service commercial real estate brokerage firm with offices in Cornelius and South Charlotte. The firm emphasizes its goal to listen, collaborate, and serve commercial real estate needs with character, competency, and certainty. All SVN offices are independently owned and operated. SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 25

26 Advisor Bio & Contact 3 FRANK SPROVIERO,, CPM Director Of Management Services PROFESSIONAL BACKGROUND Frank Sproviero has been active in the Real Estate industry for over 25 years, starting his professional career as a multifamily property manager in 1991, and then transitioning to commercial property and asset management soon after. Frank earned the internationally observed Certified Property Manager (CPM) designation from the Institute of Real Estate Management, and is a licensed Real Estate Broker in both North Carolina and Connecticut. Over many years in the industry, Frank has had the great opportunity to provide a multitude of management and brokerage services for his clients, and is adamant that he and his team s practices are based on integrity, honesty, trust and providing an unlimited value to their property owners and tenants. Before moving to Charlotte NC. with his wife and son, Frank headed up the Asset & Property Management division for 21st. Century Management Inc. for 15 years, where he gained priceless experience in managing all aspects of retail shopping centers, free standing single tenant retail sites, franchised & non-franchised hotels, and industrial properties West Catawba Avenue Suite 102 Charlotte, NC T x6971 C frank.sproviero@svn.com NC # SPRINGS CORNER 2501 SPRINGS RD NE HICKORY, NC SVN Commercial Real Estate Advisors Page 26