3603 BASTION LANE RALEIGH, NORTH CAROLINA INVESTMENT OPPORTUNITY ±11,000 SF FLEX BUILDING FOR SALE

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1 RALEIGH, NORTH CAROLINA ±11,000 SF FLEX BUILDING FOR SALE

2 PROPERTY OVERVIEW Foundry Commercial is pleased to present for sale a 11,000 square foot multi tenanted flex building located in northeast Raleigh along Bastion Lane near major industrial corridor New Bern Avenue/US Highway 64 Business. The building is currently 100% leased by three tenants whom have a weighted average remaining lease term of approximately 3 years (Creative Embroidery - 12/31/18, International Market - 12/31/19, and Emmanuel Pentecostal - 10/31/19). Zoned IX-3-PL by the City of Raleigh, the property corresponds to Wake County Real Estate ID Built in 1990, this class B flex building has a brick exterior with both office and industrial components, 15 ceiling heights, a drive in door, approximately 40 parking spaces and is fully conditioned. PROPERTY FEATURES PIN # TOTAL SIZE ±11,000 SF YEAR BUILT 1990 BASTION LANE PARCEL SIZE ZONING 2.78 ACRES IX-3-PL % LEASED 100% 2016 NOI (ESTIMATED) $55,731 LIST PRICE $850,000

3 55 54 Morrisville SITE Knightdale 495 Zeb RALEIGH 495 Wendell 540 Cary Apex LOCATION OVERVIEW The property is well-located within 0.5 miles of access points to both New Bern Avenue/US Highway 64 Business and to Interstate /Raleigh s Inner Beltline. The property is also situated 2.2 miles from Capital Boulevard (one of the region s most recognizable industrial corridors), within 1.5 miles of Interstate 495/Knightdale Bypass, and four miles away from Interstate 540/Raleigh s Outer Beltline. Per CoStar, the Northeast Wake County submarket features approximately 2.8M square feet of flex / industrial space and is approximately 89% occupied. TRAFFIC COUNTS RALEIGH BELTLINE (I-) 130,000 VPD CAPITAL BLVD 30,000 VPD NEW BERN AVE 48,000 VPD SKYCREST DR 15,000 VPD DEMOGRAPHICS 1 MILE 3 MILES 5 MILES 2016 POPULATION 8,235 79, , PROJECTED POPULATION 9,124 88, ,861 AVG. HOUSEHOLD INCOME $51,555 $60,939 $72,877

4 ESTIMATED REVENUE & EXPENSE DETAILS REVENUE OPERATING REVENUE Creative Embroidery - 4,185 SF $33,900 ($8.10 PSF) $34,800 $35,700 International Market $10,020 ($10.44 PSF) $10,320 $10,620 Emmanuel Pentecostal - 5,283 SF $36,000 ($6.81 PSF) $36,200 $37,200 Miscellaneous Rent - Utilities 1,800 1,800 1,800 Total Rent $81,720 ($7.43 PSF) $83,120 ($7.55 PSF) $85,320 ($7.75 PSF) EXPENSES OPERATING EXPENSES Property Taxes $12,153 $12,517 $12,893 Repair & Maintenance 1,700 1,700 1,700 *Insurance 2,750 2,833 2,917 *Utilities - Water & Electricity 1,350 1,391 1,432 Landscaping & Grounds Maintenance 3,950 3,950 3,950 Management Fee (5%) 4,086 4,156 4,266 Total Operating Expenses $25,289 ($2.29 PSF) $26,546 ($2.41 PSF) $27,158 ($2.46 PSF) Operating Income (loss) $55, $56, $58, * Please note assumptions were made to expense items starting in Details above are based on existing leases as well as expenses. Per CoStar we feel that tenants are currently paying below market rents which presents an investor with an opportunity to eventually bump rental rates.

5 LOCATION & AMENITIES BRENTWOOD CAPITAL BLVD 30,000 VPD 1 15,000 VPD BRENTWOOD RD TIMBERLAKE ESTATES SKYCREST DR N NEW HOPE RD 130,000 VPD TOWER TOWER SHOPPING CENTER SITE 48,000 VPD NEW BERN AVE

6 FLOOR PLAN COMMON LOADING DOCK 198 SF EMMANUEL PENTECOSTAL 5,283 SF CREATIVE EMBROIDERY 4,185 SF INTERNATIONAL MARKET 977 SF