CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors 19901 West Catawba Avenue Suite 102, Charlotte, NC 28031 SALE PROPOSAL
PROPERTY INFORMATION 3 Property Summary Property Description Additional Photos RENT COMPARABLES 7 Rent Comps Rent Comps Map LOCATION INFORMATION 10 Regional Map Location Maps Aerial Map Rent Comps DEMOGRAPHICS 16 Demographics Map ADVISOR BIOS 18 Advisor Bio & Contact 1 Advisor Bio & Contact 2 Back Page SVN Commercial Real Estate Advisors 19901 West Catawba Avenue Suite 102, Charlotte, NC 28031 SALE PROPOSAL
FOR SALE MULTIFAMILY CROWN POINT PLACE APARTMENTS 321 Crown Point Dr Salisbury, NC 28146 1 PROPERTY INFORMATION 1 PROPERTY INFORMATION 321 Crown Point Dr Salisbury, NC 28146 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 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.
Property Summary OFFERING SUMMARY Sale Price: Subject to Offer PROPERTY OVERVIEW SVN is pleased to bring to market this 32 unit Multi family townhome deal, located in Salisbury, North Carolina. This property is a true value add opportunity that has below market rents and deferred maintenance allowing the new owner Number Of Units: 32 to increase rents and tighten up the maintenance expenses. Salisbury is an emerging market located just outside of Charlotte that has seen continued growth stemming from the exponential growth in Charlotte. Lot Size: 3.78 Acres PROPERTY HIGHLIGHTS Emerging market Year Built: 1995 Below market rents Value Add potential Proximity to Charlotte Building Size: 29,696 Each unit is 2 bedrooms, 1 bathroom with a loft CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 4
Property Description PROPERTY OVERVIEW This 32 unit Multi family townhome deal, located in Salisbury North Carolina has caught the eye of many investors looking to take advantage of the stable multi-family market. Laminate flooring has recently been installed in several units. Each unit that comes available from this day forward will be leased at $685/month or more with the 2018 goal to have multiple units leased at $715/month. LOCATION OVERVIEW Salisbury, North Carolina, in Rowan county, is 19 miles N of Concord, North Carolina (center to center) and 37 miles NE of Charlotte, North Carolina. The city is part of the Charlotte - Gastonia - Rock Hill metropolitan statistical area (MSA) The unemployment rate in Salisbury, North Carolina, is 6.80%, with job growth of 3.52%. Future job growth over the next ten years is predicted to be 40.23%. CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 5
Additional Photos CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 6
FOR SALE MULTIFAMILY CROWN POINT PLACE APARTMENTS 321 Crown Point Dr Salisbury, NC 28146 2 RENT COMPARABLES 2 RENT COMPARABLES 321 Crown Point Dr Salisbury, NC 28146 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 7 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.
Rent Comps 1 FOREST VILLAGE 321 Woodson St Salisbury, NC 28144 2 ASHTON WOODS 1100 Bringle Ferry Rd Salisbury, NC 28144 3 SALISBURY SQUARE 321 Woodson St Salisbury, NC 28144 Year Built: 1977 Bldg Size: Lot Size: 0 Acres No. Units: 64 974 SF Year Built: 2003 Bldg Size: Lot Size: 0 Acres No. Units: 52 830 SF Year Built: 1982 Bldg Size: Lot Size: 0 Acres No. Units: 32 942 SF UNIT TYPE SIZE SF RENT RENT/SF 2 bed 974 $810 $0.83 UNIT TYPE SIZE SF RENT RENT/SF 2 bed 830 $685 $0.83 UNIT TYPE SIZE SF RENT RENT/SF 2 bed 942 $754 $0.80 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 8
Rent Comps Map SUBJECT PROPERTY 321 Crown Point Dr Salisbury, NC 28146 FOREST VILLAGE 1 321 Woodson St Salisbury, NC 28144 ASHTON WOODS 2 1100 Bringle Ferry Rd Salisbury, NC 28144 SALISBURY SQUARE 3 321 Woodson St Salisbury, NC 28144 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 9
FOR SALE MULTIFAMILY CROWN POINT PLACE APARTMENTS 321 Crown Point Dr Salisbury, NC 28146 3 LOCATION INFORMATION 3 LOCATION INFORMATION 321 Crown Point Dr Salisbury, NC 28146 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 10 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.
Regional Map CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 11
Location Maps CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 12
Aerial Map Crown Point Place Apartments CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 13
Rent Comps SUBJECT PROPERTY 321 Crown Point Dr, Salisbury, NC 28146 Year Built: Avg. Rent/SF: 1995 Lot Size: 3.78 Acres No. Units: 32 Avg. Size: Liquid error: divide Avg. Rent: Liquid error: divid 1 FOREST VILLAGE 321 Woodson St Salisbury, NC 28144 1 Year Built: 1977 Bldg Size: 974 SF Lot Size: 0 Acres No. Units: 64 2 ASHTON WOODS 1100 Bringle Ferry Rd Salisbury, NC 28144 2 Year Built: 2003 Bldg Size: 830 SF Lot Size: 0 Acres No. Units: 52 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 14
Rent Comps 3 SALISBURY SQUARE 321 Woodson St Salisbury, NC 28144 3 Year Built: 1982 Bldg Size: 942 SF Lot Size: 0 Acres No. Units: 32 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 15
FOR SALE MULTIFAMILY CROWN POINT PLACE APARTMENTS 321 Crown Point Dr Salisbury, NC 28146 4 DEMOGRAPHICS 4 DEMOGRAPHICS 321 Crown Point Dr Salisbury, NC 28146 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 16 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.
Demographics Map POPULATION 1 MILE 5 MILES 10 MILES 2,557 52,755 117,214 Median age 41.0 37.4 38.1 Median age (Male) 27.5 35.9 37.4 Median age (Female) 47.5 38.5 38.6 1 MILE 5 MILES 10 MILES 1,085 20,682 44,884 # of persons per HH 2.4 2.6 2.6 Average HH income $45,706 $53,510 $55,325 Average house value $143,178 $158,229 $152,915 Total population HOUSEHOLDS & INCOME Total households * Demographic data derived from 2010 US Census CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR, SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 17
FOR SALE MULTIFAMILY CROWN POINT PLACE APARTMENTS 321 Crown Point Dr Salisbury, NC 28146 5 ADVISOR BIOS 5 ADVISOR BIOS 321 Crown Point Dr Salisbury, NC 28146 CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 18 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.
Advisor Bio & Contact 1 SPENCER CRIGLER Associate Advisor PROFESSIONAL BACKGROUND Spencer is a hardworking and driven young individual with a bright mind and prides himself on being current with commercial real estate trends. Specializing in investment sales his marketing background helps bring the most prospective clients to the table. In 2 years of real estate Spencer has successfully closed deals in the following product types; retail, industrial, flex, office and multi-family. 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. Accomplishments: 2016 "Rookie of the Year" 2017 "Broker Elite Program" 2017 "Top Listing Broker" Spencer stands by 3 important values for commercial real estate; Integrity, Honesty and Expertise! 19901 West Catawba Avenue Suite 102 Charlotte, NC 28031 T 704.892.5653 C 336.706.1290 spencer.crigler@svn.com NC #286755 EDUCATION Bachelor of Science in Business Administration in Marketing from the University of North Carolina at Charlotte MEMBERSHIPS & AFFILIATIONS Product Councils Retail Multi-family Industrial CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 19
Advisor Bio & Contact 2 KYLE KENNEDY, CAM Associate Advisor PROFESSIONAL BACKGROUND Multifamily specialist representing buyers and sellers of investment properties in the Charlotte area, and throughout North Carolina. Kyle graduated from Virginia Tech with a degree in Real Estate and Residential Property Management in 2013. After College Kyle pursued his Real Estate career in Charlotte, NC. He has the CAM(Certified Apartment Manager) designation and 4 years of Property Management/Commercial Real Estate experience. His expertise in Apartments allows Kyle to critique a property from the inside out, giving his clients a full understanding of the property on the investment side, market in which the property is located, and strategy for best management practices. Kyle Determines his clients needs and financial abilities in order to propose solutions that suit them best while always keeping his clients interest first. Having the experience, skills, and extensive market knowledge throughout Charlotte, and the allows him to analyze properties in order to propose solutions that meet his clients best interest. Kyle has delivered results for owners of individual properties and apartment portfolios. He is an expert on REO dispositions, acquisitions, and new development. 19901 West Catawba Avenue Suite 102 Charlotte, NC 28031 T 704.892.5653 C 304.910.9750 kyle.kennedy@svn.com NC #283921 EDUCATION Virginia Polytechnic Institute and State University (2009-2013) Bachelor of Science (BS) Residential Property Management, Real Estate "Graduates find themselves employed in various aspects of the industry including management, operations, marketing, human resources, development, and acquisitions. Each year, only a few students in the world graduate with degrees that prepare them specifically for these positions. Students in the RPM option are exposed to all aspects of the property management field through a curriculum that includes specific property management courses, as well as general business, housing, and real estate courses. Graduates enter the profession with a broad understanding of the issues and challenges faced by the multifamily housing industry, as well as extensive first-hand experience gained through required internships offered by companies throughout the United States". http://www.ahrm.vt.edu/housing/residential_property_management_option.html MEMBERSHIPS & AFFILIATIONS CRCBR CROWN POINT PLACE APARTMENTS 321 CROWN POINT DR SALISBURY, NC 28146 SVN Commercial Real Estate Advisors Page 20
19901 West Catawba Avenue Suite 102 Charlotte, NC 28031 704.892.5653 svncharlottecommercial.com All SVN Offices Independently Owned & Operated 2014 All Right Reserved