GOLDEN TOUCH CAR WASH

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1 GOLDEN TOUCH CAR WASH KERNERSVILLE (WINSTON-SALEM AREA), NC CLICK HERE FOR AERIAL FOOTAGE

2 TABLE OF CONTENTS MAPS 3 OFFERING OVERVIEW 5 INVESTMENT HIGHLIGHTS 6 AERIALS 7 NEARBY USES 9 MARKET OVERVIEW 10 DEMOGRAPHICS 13 CONFIDENTIALITY 14 TRANSACTION TEAM STEVE HORVATH horvath@berkeleycap.com CARL BRENDES brendes@berkeleycap.com RANSOME FOOSE foose@berkeleycap.com MEGHAN DAVIDSON davidson@berkeleycap.com NC RE LICENSE NO.: C9467 MIKE LUCIER lucier@berkeleycap.com 2

3 RELATION MAP 1121 SOUTH MAIN STREET 3

4 LOCATION MAP 1121 SOUTH MAIN STREET 4 03

5 OFFERING OVERVIEW PROPERTY DETAILS NAME GOLDEN TOUCH CAR WASH ANNUAL RENT $150,000 ADDRESS 1121 SOUTH MAIN STREET RENT INCREASES 10% EVERY 5 YEARS AND IN OPTIONS MARKET KERNERSVILLE (WINSTON-SALEM), NC LEASE TERM 15 YEAR SALE LEASEBACK BUILDING SIZE 4,896 SF RENT COMMENCEMENT AT CLOSING LAND SIZE 1.30 AC LEASE TYPE ABSOLUTE NET PARKING 5 SPACES OPTIONS FIVE, 5-YEAR TENANT GOLDEN TOUCH OF KERNERSVILLE, LLC* YEAR BUILT 2000 RIGHT OF FIRST REFUSAL NO ASKING PRICE $2,142,000 (7.00% CAP RATE) *Has a corporate guarantee from Capsule Group, owner of all Golden Touch Car Wash locations. DEMOGRAPHIC SNAPSHOT TRAFFIC COUNTS 1-MILE 3-MILE 5-MILE 2021 POP. PROJECTION 4,617 38,861 70, POP. ESTIMATE 4,356 36,648 66,661 POP. GROWTH % 36.94% 37.34% HH GROWTH % 36.36% 37.29% 2016 EST. AVG. HH INCOME $76,688 $71,397 $69,415 for detailed demographics, please click HERE AADT S. MAIN ST./KERNERSVILLE RD. 15,000 I-40 BUSINESS/US ,

6 INVESTMENT HIGHLIGHTS EXPERIENCED OPERATOR Golden Touch Car Wash was started in May 2000 with the opening of its first store in Kernersville, North Carolina. Since then, the company has grown to three convenient Triad locations. Each location also offers detail services that are designed to clean, enhance, and protect. Golden Touch recycles approximately 90% of their water with state of the art water treatment systems as they are committed to using biodegradable products and maintain focus on water conservation. PRIMARY RETAIL CORRIDOR OUTSTANDING SURROUNDING TENANTS Golden Touch is extremely well positioned directly across the street from the main retail shopping corridor in town. Neighboring tenants include: Target, Lowe s Home Improvement, Walmart Supercenter, Harris Teeter, Chick-fil-A, Starbucks, CVS, Panera Bread, Kohl s and several others. SIGNALIZED INTERSECTION The subject site is located at the corner of a signalized intersection across from the main entrance to Walmart. ABILITY TO ACCELERATE DEPRECIATION Cash wash locations, including the subject Golden Touch Car Wash, are depreciable assets to property owners over a quicker 15 year schedule. This fairs well relative to ground lease investments that do not allow for depreciation tax write-offs. I-40 ACCESS The subject site and surrounding retail benefit from the immediate highway access to US 421/I-40 Business, which connects directly to I-40. I-40 is an east-west travel route that runs through the entire state of North Carolina and connects cities of Asheville, Winston-Salem, Greensboro, Durham and Raleigh. MIDWAY POINT BETWEEN GREENSBORO AND WINSTON-SALEM Kernersville is located at the center of the Piedmont Triad metropolitan area, between Greensboro to the east, High Point to the south and Winston-Salem to the west. Kernersville residents have the flexibility of commuting 10 miles to Winston Salem and 17 miles to Greensboro. STRONG TRAFFIC COUNTS Given the extremely convenient location off US 421/I-40 Business, consumers from several miles away are attracted to this high quality retail submarket. US 421/I-40 Business sees 41,000 VPD while S. Main St. has 15,000 VPD consisting of mainly local traffic flow. 02 6

7 AERIAL EAST RESIDENTIAL $200K - $450K RESIDENTIAL $150K - $280K RESIDENTIAL $125K - $250K KERNERSVILLE VETERINARIAN COUNTRYSIDE LANES S. MAIN ST./KERNERSVILLE RD. - 15K VPD TRIAD BAPTIST CHURCH N 7

8 AERIAL WEST WINSTON-SALEM 8 MILES RESIDENTIAL $200K - $380K RESIDENTIAL $225K - $525K RESIDENTIAL $200K - $450K S. MAIN ST./KERNERSVILLE RD. - 15K VPD GOLDEN HIBACHI BUFFET TRIAD BAPTIST CHURCH 8

9 NEARBY USES WITHIN A QUARTER MILE 9

10 MARKET OVERVIEW WINSTON-SALEM, NC 10

11 MARKET OVERVIEW WINSTON-SALEM, NC In 1889, the U.S. Post Office combined the mail offices for neighboring towns Winston and Salem, eventually leading to the official hyphen of the two towns into Winston-Salem in Originating in 1753, Salem was a typical Moravian settlement congregation, where for many years only members of the Moravian church were allowed to live in the settlement. The Moravians pioneering handiwork as craftsmen and artisans of pottery, tannery, iron works, cloth and furniture making, made it a thriving trade center. Salem player a prominent supplier role during the American Revolution and Civil War. A more secular city, Winston, just north of Salem was officially established in 1851, emerging after the Civil War as a national leader in tobacco and textile manufacturing, thanks to R.J. Reynolds and the Hanes family. The R.J. Reynolds Tobacco Company imported so much French cigarette paper and Turkish tobacco for Camel cigarettes, that the U.S. government designed the city an official port of entry for the U.S. TRANSPORTATION INDUSTRIES Nicknamed the Twin City for its dual heritage, Winston-Salem is the fifth largest city in North Carolina and is the center of the Piedmont Triad Region. The Piedmont Triad Region consists of 12 counties within the cities of Winston-Salem, Greensboro, and High Point, a top-40 MSA with over 1.6 million people. Situated right along I-40, Winston-Salem is the midpoint between Washington, D.C. and Atlanta, GA. The city has excellent transportation infrastructure allowing people and freight to move by train, plane, or automobile. The Piedmont Triad region offers direct access to Interstates I-40, I-77, I-73/74 and I-85. In addition, the Piedmont Triad is also served by a first-rate highway system that includes U.S. highways 52, 158, 311 and 421, and North Carolina primary highways 8, 67, 109, 150, 65 and 66. Forsyth County is served by three railroads, Norfolk Southern, Winston-Salem Southbound (which connects with CSX south of Charlotte, NC) and Yadkin Valley Railroad. Piedmont Triad International is located about 25 minutes east of Winston-Salem, just off Interstate 40. With a strong presence in health care, financial services and manufacturing, Winston-Salem is home to corporate or regional headquarters for HanesBrands, Inc., BB&T, Krispy Kreme Doughnuts, Inc., Lowes Foods Stores, ISP Sports, in addition to many others. In addition, the city has two of the largest credit unions in the state. Within the past few years, more than 500 small companies and entrepreneurial start-ups have made Winston-Salem their home. Top Employers include Wake Forest Baptist Medical Center, Novant Health, Winston-Salem Forsyth County Schools, City & County Governments, Reynolds American, Wells Fargo Bank, Hanesbrands, Inc., BB&T Corporation, Wake Forest University and Lowe s Foods. EDUCATION Formed in 1963, Winston-Salem/Forsyth County Schools is the fifth largest system in North Carolina and the 83rd largest in the country. Serving over 54,000 students, the school system has 43 elementary schools, 14 middle schools, and 15 high schools, in addition to 9 specialty schools, and 29 private schools. Winston-Salem is home to six college and universities, including Salem College, the prestigious Wake Forest University, and Winston-Salem State University. Founded in 1772, Salem College is the oldest educational institution for women in the country with a total student population of approximately 1,100. Wake Forest University, a private university, was founded in 1834 and serves approximately 7,500 students. In the 2016 U.S. News & World Report America s Best Colleges report, Wake Forest ranked tied for 10th in terms of Best Undergraduate Teaching in the U.S. and tied for 27th overall among national universities. Winston-Salem State University is a historically black university founded in 1892, offering over 40 academic majors and 10 graduate degrees, with an enrollment of approximately 6,300 students. MEDICAL Novant Health Forsyth Medical Center and Wake Forest Baptist Medical Center are Winston-Salem s two regional hospitals. Headquartered in Winston-Salem, Novant Health Forsyth Medical Center is a not-for profit system of 15 medical centers with a medical group of over 1,000 physicians in 343 clinic locations. Wake Forest Baptist Medical Center is the largest employer in Winston-Salem, with over 12, 500 employees. The Medical Center is a fully integrated academic medical center, made up of the Wake Forest School of Medicine, Wake Forest Baptist Health, Wake Forest Innovations and a number of community-based hospitals, physician practices, outpatient services and other medical facilities. Recently, the 11

MARKET OVERVIEW Wake Forest Baptist Medical Center announced a $50 million philanthropic capital campaign to fund the transformation of a former R.J.

The development of the Innovation Quarter represents a significant addition to North Carolina s Biotechnology Corridor.

12 MARKET OVERVIEW Wake Forest Baptist Medical Center announced a $50 million philanthropic capital campaign to fund the transformation of a former R.J. Reynolds Tobacco Company building into an optimal learning environment, for the new Medical Education Building for the Wake Forest School of Medicine in Innovation Quarter. The development of the Innovation Quarter represents a significant addition to North Carolina s Biotechnology Corridor. Although originally associated with tobacco and textile industries, Winston-Salem is emerging as a leader in the bio-tech, high-tech and nanotech fields. TOURISM ATTRACTIONS Considered North Carolina s City of the Arts, Winston-Salem offers a wide range of entertainment options, ranging from historic landmarks and gardens to contemporary art galleries and vineyards to sporting events. The City of Winston-Salem Recreation and Parks Department operates 27 recreation centers, 48 picnic shelters, 75 parks, nine swimming pools, the Winston Lake and Reynolds Park golf courses. In 2010, the Winston-Salem Dash became an integral part of Winston- Salem s local sporting scene and drew a record-breaking 312,313 fan base to its BB&T Ballpark. The Dash led all Class-A Advanced teams in total and average attendance, and the team finished with the best overall record in the Carolina League. Hanes Mall in Winston-Salem is the largest super regional mall in the Carolinas with 1.8 million square feet of retail space and 200 stores including five department stores. It is also the largest traditional mall between Atlanta and Washington DC. Other entertainment attractions include, more than 40 wineries (located in the neighboring Yadkin Valley American Viticultural Area), local art galleries/museums, approximately 450 dining establishments, 12 golf courses, 80 recreational parks (across Winston- Salem and Forsyth County), 4 historic and/or award-winning gardens, Winston-Salem Dash baseball team, Bowman Gray Racing, CIAA sports (Winston-Salem State University Rams), ACC sports (Wake Forest University Demon Deacons), and a plethora of other attractions. Tanglewood Park Golf and Bermuda Run Country Club are two superb locations for golfing. Tanglewood Park Golf is one of the premiere public facilities in the United States and boasts two championship golf courses, the Championship and Reynolds Courses, which are both challenging and beautiful. Located just west of Winston-Salem, Bermuda Run Country Club offers 36 holes of championship golf, two clubhouses, and Olympic pool with lazy river, tennis center, dining and more. WAKE FOREST UNIVERSITY WINSTON-SALEM, NC 12

13 DEMOGRAPHICS POPULATION 1 MILE 3 MILE 5 MILE 2021 Projection 4,617 38,861 70, Estimate 4,356 36,648 66, Census 4,056 34,218 62, Census 2,878 26,761 48,537 Growth % 6.04% 6.10% Growth % 7.10% 7.12% Growth % 27.86% 28.21% 2016 EST. HOUSEHOLDS BY HOUSEHOLD INCOME 1,832 14,996 26,174 Income < $15, % 1, % 2, % Income $15,000 - $24, % 1, % 2, % Income $25,000 - $34, % 1, % 2, % Income $35,000 - $49, % 2, % 3, % Income $50,000 - $74, % 3, % 5, % Income $75,000 - $99, % 1, % 3, % Income $100,000 - $124, % 1, % 2, % Income $125,000 - $149, % % 1, % Income $150,000 - $199, % % 1, % Income $200,000 - $249, % % % Income $250,000 - $499, % % % Income $500, % % % 2016 EST. AVERAGE HOUSEHOLD INCOME $76,688 $71,397 $69,415 13

14 CONFIDENTIALITY Berkeley Capital Advisors, LLC ( BCA ) has been authorized by the owner of the subject property (the Seller ) to present you with this marketing package. This is a confidential package intended solely for your own limited use and benefit, as a principal, in considering whether you desire to pursue negotiations to acquire the subject property. Your receipt and acceptance of this package serves to acknowledge your agreement to: (1) hold the information and materials contained herein, and the offering they represent, in the strictest of confidence; (2) not disclose, directly or indirectly, the information and materials contained herein, or the offering they represent, to any other person, firm or entity without prior written authorization from BCA or the Seller; (3) not use the information and materials contained herein in any fashion or manner detrimental to the interest of BCA or the Seller; (4) not disturb any tenants in possession of the subject property nor reveal to them the offering this package represents. This marketing package was prepared by BCA and it has been reviewed by representatives of the Seller. The information and materials contained herein are selective and limited in nature, and neither BCA nor the Seller purports this to be an all-inclusive report on the subject property. Within this package, certain leases, documents and other materials are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements involved, nor do they purport to constitute a legal analysis of the provisions of those documents. Interested and qualified prospective purchasers will be afforded an opportunity to review additional information and to inspect the subject property, and all such prospective purchasers should conduct their own independent due diligence. This package is based in part upon information supplied by the Seller and in part upon information obtained by BCA from sources believed to be reliable. All income, expense and/or investment projections contained herein are provided for general reference purposes only, in that they are based on assumptions relating to the general economy, competition and other factors beyond the control of BCA and the Seller, and all such projections are therefore subject to variation. This package shall not be deemed an indication of the state of affairs of the subject property, nor constitute an indication that there has been no change in the business or affairs of the subject property since the date of preparation of this package. Neither BCA, the Seller, nor any of their respective officers, employees or agents, has made or does make any representation or warranty, expressed or implied, as to the accuracy or completeness of this package or any of its contents, and no legal commitments or obligations shall arise by reason of this package or its contents. BCA and the Seller expressly reserve the right, at their sole discretion, to alter or amend the terms of this offering, to reject any or all expressions of interest or offers to acquire the subject property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligation to any entity reviewing this package or making an offer to acquire the subject property unless and until a written agreement for such acquisition has been fully executed, delivered and approved by the Seller and any conditions to the Seller s obligations thereunder have been satisfied or waived. Parties seeking to act in a third-party brokerage capacity must register their client(s) with BCA prior to receiving or dispersing any marketing information. BCA will not recognize any third-party brokerage relationships without first receiving and approving such written client registration, nor will BCA or the Seller be obligated for any brokerage claims which may result, regardless of such broker s involvement in procuring a purchaser for the subject property. This package is the property of BCA. Photocopying, re-typing or other duplication of the information and materials contained herein is expressly prohibited. The information contained within this package and the offering of the subject property may not be announced, posted or otherwise publicized in any electronic media (such as, by way of example only, any Internet or broadcast facsimile communications). If, after reviewing this package, you have no further interest in acquiring the subject property at this time, please return this package in its entirety to BCA. Likewise, if the terms contained in this Confidentiality & Disclaimer section are not acceptable to you, please immediately return this package to BCA. The terms and conditions stated in this Confidentiality & Disclaimer section apply and relate to all of the sections of this package as if stated independently therein. Prospective purchasers of the subject property are hereby notified that Berkeley Capital Advisors, and its agents, are acting in the capacity of a Seller s Agent during the course of this offering, and as such are solely representing the interests of the Seller. DESCRIPTION OF AGENT DUTIES AND RELATIONSHIPS Before you begin working with any real estate agent, you should know who the agent represents in the transaction. Every listing agreement, buyer agency agreement or other agreement for brokerage services in a real estate sales transaction in North Carolina must contain this Description of Agent Duties and Relationships [N.C. Real Estate Commission Rule 21 NCAC 58A.0104(c), eff. 7/1/95]. Real estate agents should carefully review this information with you prior to entering into any agency agreement. AGENT S DUTIES When you contract with a real estate firm to act as your agent in a real estate transaction, the agent must help you obtain the best price and terms possible, whether you are the buyer or seller. The agent also owes you the duty to: Safeguard and account for any money handled for you Act with reasonable skill, care and diligence Be loyal and follow reasonable and lawful instructions Disclose to you any information which might influence your decision to buy or sell Even if the agent does not represent you, the agent must still be fair and honest and disclose to you all material facts which the agent knows or reasonably should know. A fact is material if it relates to defects or other conditions affecting the property, or if it may influence your decision to buy or sell. This does not require a seller s agent to disclose to the buyer the minimum amount the seller will accept, nor does it require a buyer s agent to disclose to the seller the maximum price the buyer will pay. AGENTS WORKING WITH SELLERS A seller can enter into a listing agreement with a real estate firm authorizing the firm and its agent(s) to represent the seller in finding a buyer for his property. The listing agreement should state what the seller will pay the listing firm for its services, and it may require the seller to pay the firm no matter who finds the buyer. The listing firm may belong to a listing service to expose the seller s property to other agents who are members of the service. Some of those agents may be working with buyers as buyers agents; others will be working with buyers but still representing the sellers interests as an agent or subagent. When the buyer s agents and seller s subagents desire to share in the commission the seller pays to the listing firm, the listing agent may share the commission with the seller s permission. AGENTS WORKING WITH BUYERS A buyer may contract with an agent or firm to represent him (as a buyer s agent), or may work with an agent or firm that represents the seller (as a seller s agent or subagent). All parties in the transaction should find out at the beginning who the agent working with the buyer represents. If a buyer wants a buyer s agent to represent him in purchasing a property, the buyer should enter into a buyer agency agreement with the agent. The buyer agency agreement should state how the buyer s agent will be paid. Unless some other arrangement is made which is satisfactory to the parties, the buyer s agent will be paid by the buyer. Many buyer agency agreements will also obligate the buyer to pay the buyer s agent no matter who finds the property that the buyer purchases. A buyer may decide to work with a firm that is acting as agent for the seller (a seller s agent or subagent). If a buyer does not enter into a buyer agency agreement with the firm that shows him properties, that firm and its agents will show the buyer properties as an agent or subagent working on the seller s behalf. Such a firm represents the seller (not the buyer) and must disclose that fact to the buyer. 14

CHARLOTTE 1228 East Morehead Street, Suite 200 Charlotte, North Carolina 28204 704.379.

15 CHARLOTTE 1228 East Morehead Street, Suite 200 Charlotte, North Carolina ASHEVILLE 138 Charlotte Street, Suite 220 Asheville, North Carolina NASHVILLE th Avenue, Suite 300 Nashville, Tennessee BERKELEYCAP.COM

FILE PHOTO - NEW PROTOTYPE SIMILAR TO CONOVER LOCATION SOUTHERN STATES CONOVER (CHARLOTTE MSA), NC

FILE PHOTO - NEW PROTOTYPE SIMILAR TO CONOVER LOCATION SOUTHERN STATES CONOVER (CHARLOTTE MSA), NC TABLE OF CONTENTS MAPS 3 OFFERING OVERVIEW 5 INVESTMENT HIGHLIGHTS 6 AERIALS 7 SITE PLAN 9 MARKET OVERVIEW