West End. FOR SALE Executive Summary. Urban Infill Mixed Use Development Opportunity. 879 & 889 Ralph D. Abernathy Blvd.
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1 West End Urban Infill Mixed Use Development Opportunity FOR SALE Executive Summary 879 & 889 Ralph D. Abernathy Blvd., Atlanta, GA Conceptual Rendering, Subject to Change Exclusively listed by: Senior Vice President Senior Vice President CA BRE License #
2 Property Highlights Overview of the Property The Opportunity - West End Urban Lofts Development NAI Capital, Inc. and Gibraltar Investment Partners as the exclusive agent, presents this opportunity to acquire a rare Urban Infill Multifamily Mixed Use Development Project located in the heart of the Historical West End District. The subject is a.56-acre infill land parcel which the investor would acquire to develop a 4-story urban apartment project with ground floor/ street facing retail. The site is located at Ralph D. Abernathy Blvd., and minutes from Tyler Perry s new multi-million dollar film studio development project at Fort McPherson, and walking distance from several Atlanta Historical Universities West End Urban Lofts is within the West End Historical District would compliment the existing renaissance of new urban development and construction. A broad range of potential developments are permitted: multifamily, retail and office with a maximum height of 4 stories. The Site is currently utilized as a multi-tenant retail building, containing a well known health-food restaurant, a barber shop, hair salon, and a tax/accounting office. Urban Lofts mixed used development project will feature residential units within walking distance from the CVS Pharmacy, West End Shopping Mall and MARTA Rail Station; creating a walkable live, work and shop experience for its residents. Conceptually, the major thrust of this project is to emphasize the directness and simplicity that complements the affordability of the project while still producing good architecture. The project provides an overall neutral field that blends with the existing architecture. The residential units average 700 to 1,200 SF and incorporate features that maximize their spaciousness and livability. The emphasis will be on inventive design that effectively utilizes every cubic foot of unit area to the residents advantage.
3 Property Description Property Description Location Parcel Size Zoning Usage Unit Size APNs Existing Surrounding Area Parcel Description School District Public Utilities Ralph D. Abernathy Boulevard Atlanta, CA Lot Size is.56 Acres & 28,268 Existing Building SF West End Historical District of Atlanta s Southwest Corridor Specific Plan; allows by right up to a 4-story multifamily & retail mix use development with a affordable component Proposed New Development of Ground Floor Retail and Multi-Family Apartment Units Range 600 SF to 1,120 SF (Estimates) LL0086 & LL0094 Currently operating as a street-front retail/commercial facility, with a Health Food Restaurant, Barber Shop, Hair Salon and Accounting/Tax Office The subject is centrally located to all major amenities and conveniences in an urban core setting. Distance to: Retail Services: Walking Distance Freeway: Minutes to Highway 20 & 85 MATRA Rail: Walking Distance Airport: Less Than 5 Miles Rectangular building Atlanta Unified City School District Domestic Water: City of Atlanta Sanitary Sewer: City of Atlanta Natural Gas: Georgia Power Electrical: Georgia Power Conceptual Rendering, Subject to Change Conceptual Rendering, Subject to Change
4 Offering Guidelines Offering Guidelines Proposed Deal Structure: All Cash Asking Price: $2,800,000 Due Diligence Period: 45 Days Deposits: Title & Escrow: Opening of Escrow: Close of Escrow: Deliverables: Comments: Buyer will provide a minimum Initial Deposit of One Hundred Thousand Dollars ($100,000) at the Opening of Escrow. The Deposit shall remain refundable during the 45-day Due Diligence Period. Upon Buyer s approval of its Due Diligence, Buyer shall make an additional deposit of Fifty Thousand Dollars ($50,000) at which time the total deposit shall become non-refundable to Buyer and applicable to the Purchase Price. Title shall be held with a national and reputable 3rd party escrow and title company with a local office in the Atlanta, GA area. Upon delivery to Escrow of the fully executed Purchase and Sale Agreement (PSA) and the Initial Deposit. The Close of Escrow shall be within 30-days upon the completion of buyer s due diligence period. Property Plot Map Property Blueprints Existing Tenant Leases & Rent Roll Financial Operating Statements Proof of Current Insurance Current Property Taxes Owner Paid Utility Statements Warranties & Service Contracts List of Recent Capital Improvements Buyer will be responsible for conducting its own pre-construction due diligence and gathering of inspection reports No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification
5 Aerial Views Bird s Eye View New Mixed Use Condo Development West End Mall
6 West End Overview Historic West End Offers Two million dollars in new sidewalks, trees, streetlights, and other street-scape improvements for the West End, under the Livable Centers Initiative by Atlanta Regional Commission Convenient to AUC Campuses Near Downtown nightlife, dining and entertainment Easy commute to Downtown offices A few minutes from great shopping Quick access to MARTA and major highways New Sky Lots Retail/Condos New Urban Walmart Supercenter at Historic Westside Village Minutes from The Mall West End Public Transportation The West End Mall
7 Location Maps West End Location Maps
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