www.franklinst.com VALDOSTA TOWNHOUSE PORTFOLIO Valdosta Townhouse Portfolio Toni Ter., Ricardo St. & Langdale Dr. www.franklinst.com Toni Ter., Ricardo St., Langdale Dr., Valdosta, Georgia 31601 Valdosta, Georgia 31601
FRANKLIN STREET CONFIDENTIALITY AGREEMENT This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest into the acquisition of the Subject Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner or Real Estate Services, LLC. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or Real Estate Services, LLC., nor any of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your own investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived. By receipt of the Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or the Franklin Street Real Estate Services, LLC. Furthermore, you agree not to use this Memorandum or any of its contents in a manner detrimental to the interest of the Owner or Real Estate Services, LLC. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are so advised and expected to review all such summaries and other documents of whatever nature independently and not to rely on the contents of this Memorandum in any manner. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR FRANKLIN STREET REAL ESTATE SERVICES, LLC AGENT FOR MORE DETAILS. 2 Jim Reed Director, Multifamily Investment Sales Jim.Reed@FranklinSt.com 904.899.0310
Investment Summary Area Overview Financial Overview Comparables About INVESTMENT HIGHTLIGHTS 12 Townhouse portfolio Built between 1981 and 1985 Two Bedroom Units Are Ideal For The Area Demographics Tenants pay all utilities Washer/dryer hook-ups $54,167 Per Unit PROPERTY DESCRIPTION is pleased to present this bulk offering of 12 fee simple townhouse units located in the Whispering Pines neighborhood of Valdosta, Georgia. The townhouses are in a single-family residential neighborhood on Toni Terrace, Ricardo Street and Langdale Drive, all within a few minutes of each other. The portfolio consists of 12 spacious two-bedroom/one-bathroom units from 1,011 to 1,108 square feet for a total of 13,000 rentable square feet. The properties were built between 1981 and 1985 of wood frame construction with composite siding and gable roofs covered in composite shingles. The units feature central heating and air conditioning, off-street parking, private patios and back yards, perfect for pets and family activities. The units are currently renting for $550 per month. The portfolio is being offered with an attractive $54,167 per unit. Tenants pay all utilities and, with low taxes, insurance and operating expenses, the investor will see a first-year net operating income of $47,000. 3
Investment Summary Area Overview Financial Overview Comparables About PRICING SUMMARY LIST PRICE Price: $650,000 Price Per Unit: $54,167 Price Per Sq Ft: $50.00 LOCATION & PARCEL DETAIL Address: Toni Ter., Ricardo St., Langdale Dr. City, State ZIP: Valdosta, GA 31601 County: Lowndes Parcel/Folio: 12 Parcels Submarket: Whispering Pines Walk Score R : Car Dependent (22) Asking Price $1,699,000 Price Per Unit $53,094 Price Per Sq Ft $51.80 SITE DETAIL No. of Units: 12 Units CONSTRUCTION DETAIL PARKING DETAIL No. of Buildings: 6 Buildings Framing: Wood Frame Paving: Concrete No. of Stories: 2 Stories Exterior Wall: Composite Siding Parking Spaces: 24 Parking Spaces Year Built: 1981-1985 Roof Structure: Wood Truss Spaces per Unit: 2.00 Rentable Sq Feet: 13,000 Roof Cover: Composite Shingle Lot Size: 0.86 Acres HVAC: Central Heat & Air Conditioning 4
Investment Overview Area Area Overview Financial Overview Comparables About NEIGHBORHOOD MAP Langdale Dr. Toni Terrance Ricardo Street 5
Investment Overview Langdale Drive Toni Terrace Ricardo Street PROPERTY PHOTOS 6 AreaOverview Overview Area Financial Overview Comparables About
Investment Overview Area Area Overview Financial Overview Comparables About DEMOGRAPHICS POPULATION 1/4 Mile 1/2 Mile 1 Mile Estimated Population (2016) 497 4,507 13,200 Projected Population (2021) 480 4,376 12,825 Census Population (2010) 505 4,450 12,853 Census Population (2000) 414 3,847 11,278 HOUSEHOLDS Estimated Households (2016) 190 1,789 4,824 Projected Households (2021) 203 1,919 5,172 Census Households (2010) 189 1,719 4,557 Census Households (2000) 159 1,449 4,059 INCOME Estimated Per Capita Income $18,019 $15,329 $14,413 Estimated Median Household Income $34,951 $30,652 $29,633 Estimate Average Household Income $47,118 $38,360 $38,772 7
Investment Overview Area Overview Investment Financial Overview Comparables About UNIT MIX Address Unit Type Sq Feet Current Rent Rent/Sq Foot 1714 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 1716 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 1718 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 1720 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 21Bdr 1Bath, 100.00% 1722 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 1724 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50 1472 Ricardo St 2Bdr 1.5Bath, Townhome 1106 $550 $0.50 Investment Overview 1474 Ricardo St 2Bdr 1.5Bath, Townhome 1106 $550 $0.50 1106 Langdale Dr 2Bdr 1Bath 1011 $550 $0.54 1108 Langdale Dr 2Bdr 1Bath 1011 $550 $0.54 1113 Langdale Dr 2Bdr 1Bath 1059 $550 $0.52 1114 Langdale Dr 2Bdr 1Bath 1059 $550 $0.52 Current Potential Monthly Gross Rent $6,600 Current Annual Gross Potential Rent $79,200 Total: 12 Weighted Averages: 13,000 $550 $0.51 8
Investment Overview Area Overview Investment Overview Comparables About Financial Overview INCOME & EXPENSES INCOME % PER UNIT TOTAL Gross Potential Rent (GPR) $6,600 $79,200 Gross Potential Income (GPI) $6,600 $79,200 ECONOMIC LOSS % PER UNIT TOTAL Market Vacancy (-) 10% ($660) ($7,920) Effective Gross Income (EGI) $5,940 $71,280 EXPENSES % PER UNIT TOTAL Taxes (1) 9.90% $588 $7,057 Insurance 6.73% $400 $4,800 Utilities 0.00% $0 $0 Repairs & Maintenance 6.73% $400 $4,800 Management Fees 8.00% $475 $5,702 General & Administrative 0.70% $42 $500 Marketing & Leasing 0.70% $42 $500 Miscellaneous Expenses 1.68% $100 $1,200 Total Expenses 34.45% $2,047 $24,559 Net Operating Income (NOI) $3,893 $46,721 (1) Pro Forma Taxes are based on 100% of List Price x 2016 Millage Rate 9
Investment Overview Area Overview Financial Overview Comparables About ABOUT FRANKLIN STREET Our Services INVESTMENT SALES INSURANCE SERVICES MANAGEMENT SERVICES LANDLORD PROPERTY MANAGEMENT VALUATION ADVISORY TENANT REPRESENTATION COLLABORATION ACHIEVING RESULTS THROUGH COLLABORATION Founded in 2006 during one of the toughest real estate climates, has blossomed into one of the fastest-growing full-service commercial real estate firms in the Southeast, with offices in Tampa, Atlanta, Jacksonville, Orlando, Miami, and Fort Lauderdale. Our family of real estate companies - which include Investment Sales, Tenant and Landlord Representation, Capital, Insurance, Management, and Valuation - is focused on delivering value-added solutions to the evolving demands of our clients. OUR MISSION STATEMENT and our family of full-services companies are committed to providing supreme advisory services for our clients through the collaboration of each member in our team of professionals. By embracing technology and the development and recruitment of top-level employees, we are able to deliver precise and accurate information to help clients make the most successful decisions in real estate, insurance, capital, management and valuation. 10
Investment Overview Area Overview Financial Overview Comparables About MARKET EXPERTISE Multifamily Retail Industrial Office TRANSACTION VOLUME $736,514,361 2011 2012 2013 2014 2015 2016 YEAR $10+ BILLION IN VALUATIONS 6,500 ASSIGNMENTS COMPLETED PROPERTY MANAGEMENT 7.8 MILLION SQUARE FEET ALL ASSET TYPES THROUGHOUT THE U.S. 30 MILLION SF OF COMMERCIAL PROPERTY MORE THAN $500 MILLION IN LOAN ORIGINATIONS REPRESENTATION OF 70 RETAILERS IN 9 STATES LOCAL, REGIONAL, AND NATIONAL CLIENTS Clients Represented: Tenant, Landlord, Management, and Valuation Caribbean Offices Closed Transactions: Investment Sales, Insurance TAMPA Caribbean ATLANTA JACKSONVILLE ORLANDO FT.LAUDERDALE FT MIAMI 13 MILLION SQUARE FEET LANDLORD REPRESENTATION LOCAL, REGIONAL, AND NATIONAL CLIENTS ATLANTA JACKSONVILLE 2016 TENANT TRANSACTIONS TOTALING ORLANDO $42+ MILLION OFFICE AND INDUSTRIAL LOCAL, REGIONAL, AND NATIONAL CLIENTS TAMPA FT.LAUDERDALE FT MIAMI 11
EXCLUSIVELY LISTED BY Jim Reed Director 904.899.0310 Jim.Reed@FranklinSt.com FRANKLIN STREET RETAIL INVESTMENT SALES TEAM Hernando Perez Director, Investment Sales 786.245.0499 Hernando.Perez@FranklinSt.com Matthew Kesterson Senior Director 904.271.4120 Ext: 805 Matthew.Kesterson.@FranklinSt.com Dan Dratch Associate, Investment Sales 954.312.1677 Dan.Dratch@FranklinSt.com Zachary Ames Director 813.288.6676 Zachary.Ames@FranklinSt.com Kevin Kelleher Senior Director 813.658.3358 Kevin.Kelleher@FranklinSt.com Jake Reid Senior Director 404.832.1255 Jake.Reid@FranklinSt.com Ricky Jones Director 404.991.3446 Ricky.Jones@FranklinSt.com Robert Goldfinger Managing Director 813.658.3353 Robert.Goldfinger@FranklinSt.com Greg Matus Sr. Vice President, Investment Sales 954.671.1821 Greg.Matus@FranklinSt.com Darron Kattan *FS Broker of Record in GA Managing Director 813.658.3355 Darron.Kattan@FranklinSt.com Kurt Keaton President, Real Estate Services 813.839.7300 Kurt.Keaton@FranklinSt.com FranklinSt.com https://franklinst.com/our-services/business-lines/investment-sales/our-team