OFFERING MEMORANDUM METRO CITY PLAZA 5441 Buford Hwy., Doraville, Ga30340 3296 Summit Ridge Pkwy, Suite 420 Ph: 678.417.1434 Fax: 678.417.1438 www.tbrealtor.com info@tbrealtor.com
Confidentiality Agreement The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from TBRE Real Estate Services and should not be made available to any other person or entity without the written consent of TBRE Real Estate Services. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The information contained in this Marketing Package has been obtained from sources we believe to be reliable; however, TBRE Real Estate Services makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. TBRE Real Estate Services has all rights reserved in this document.without our permission, this offering memorandum is prohibited to copy or revise same format such as tables, forms and design which appear in this document.
Table of Contents SECTION 1 - OFFERING SUMMARY Investment Summary Investment Highlights SECTION 2 - PROPERTY INFORMATION Property Description Location Map Property Photos SECTION 3 - FINANCIAL OVERVIEW Income & Expense Analysis Financial Summary SECTION 4 - FUTURE DEVELOPMENT FUTURE DEVELOPMENT SECTION 5 - MARKET ANALYSIS Sales Comparables
OFFERING SUMMARY
INVESTMENT SUMMARY Location 5441 Buford Hwy Purchase Price $4,300,000 CAP Rate 8.03% Price per Square Foot $152.35 Square Footage 28,224 Acreage 1.51 Year Built 2007 Zoning C2
INVESTMENT HIGHLIGHTS Well-Built Strip Center Anchored by Metro City Bank Located in major development project area (Former GM Factory, Parkview on Peachtree, and Peachtree Crossing) Convenient to Major Highways (I-85, I-285, Buford Hwy & Peachtree Industrial Blvd.) Great Visibility (Two Ingress and Egress Points) 2015 AADT (Average Annual Daily Traffic) : 30,599 vehicles per day 2015 Total Households within 5 miles : 107,936 Population counts exceed 277,073 within 5 miles
PROPERTY INFORMATION
PROPERTY DESCRIPTION Metro City Plaza is 28,224 SF Strip Shopping Center located in Metro Atlanta wholesale area. It is well-built, attractively designed retail/office building anchored by Metro City Bank. The subject property also has extra income from outdoor billboard advertisement. High visibility and great location for offices, wholesale and retail distribution. Additional underground parking, rear parking and elevator access. LOCATION DESCRIPTION Located in the heart of the city of Doraville on Buford Highway. Just inside I-285. Easy access to Major Highways (I- 285, I-85 and Peachtree Industrial Blvd.) Busy retail and wholesale area. Daily trafic counts approach 30,599 vehicles per day.
LOCATION MAP
PROPERTY PHOTOS
PROPERTY PHOTOS
FINANCIAL OVERVIEW
INCOME & EXPENSE ANALYSIS Price : $4,300,000 Price PSF : $152.35 Square Feet : 28,224 CAP Rate : 8.03 % Annual Income & Expense Actual Base Rental Revenue Actual Shop Base Rental Revenue $395,510 Other Income Total Base Rental Revenue $395,510 Expense Reimbursement Revenue CAM $67,631 Taxes Insurance Total Expense Reimbursement Revenue $67,631 TOTAL ACTUAL GROSS REVENUE $463,141 EFFECTIVE GROSS REVENUE $463,141 Operating Expenses CAM Electricity $4,960 Elevator Maintenanace $4,038 Fire/Life Safety $4,055 Gardening $4,555 Janitorial $6,140 Management $15,210 Repairs $6,025 Trash Disposal $3,060 Water & Sewer $3,318 Legal & Accounting $4,325 Miscellaneous $808 Taxes $55,662 Insurance $5,834 Total Operating Expenses $117,990 NET OPERATING INCOME (NOI) $345,151
FINANCIAL SUMMARY LOCATION Price $4,300,000 5441 Buford Hwy, 30340 Down Payment Gross Leasable Area(GLA) Price/Square Foot Proforma CAP Rate Net Cash Flow After Debt Service Year Built Lot Size (Acre) 35% $1,505,000 28,224 $152.35 7.86% 10.28% $154,715 2007 0.47 FINANCING SUMMARY Proposed new financing of 65% LTV at 5.5% and a 30 year amortization with a 5 year term for a qualified buyer. As loan information is time sensitive and subject to market fluctuations, we recommend that you verify quoted terms by contacting local financial institution. ANNUALIZED OPERATION DATA ANNUALIZED EXPENSES INCOME Actual EXPENSES Actual Base Rent $395,510 Electricity $4,960 Occupied Space Elevator Maintenance $4,038 Gross Actual Rent $395,510 Fire/Life Safety $4,055 Total Expense Reimbursements $67,631 Gardening $4,555 Other Income Janitorial $6,140 Gross Actual Income $463,141 Management $15,210 Vacancy/Collection Allow. (% GPR) Repairs $6,025 Effective Gross Income $463,141 Trash Disposal $3,060 Less: Expense ($117,990) Water & Sewer $3,318 Net Operating Income (NOI) $345,151 Legal & Accounting $4,325 Debt Service ($190,436) Miscellaneous $808 Net Cash Flow After Debt Service 10.28 % $154,715 Taxes $55,662 Principal Reduction $37,651 Insurnace $5,834 Total Return 12.78% $192,366 TOTAL EXPENSES $117,990 EXPENSES/SF $4.18
FUTURE DEVELOPMENT
FUTURE DEVELOPMENT(Former GM Factory) Film and TV Studio to anchor former Doraville GM plant site 165-acre redevelopment project 270,000 square-foot complex called Third Rail Studios Source : www.clatl.com Metro City Plaza
FUTURE DEVELOPMENT(Parkview on Peachtree) 503-unit residential project near Chamblee Marta Station 40,000 square feet of street front boutique retail and restaurant 1,400 square feet of loft offices Source : www.parkviewonpeachtree.com Metro City Plaza
FUTURE DEVELOPMENT (Peachtree Crossing) 45,000 SF whole foods, 12,757 SF minor anchor tenant 2,900 SF bank and more than 64,000 SF for smaller commercial spaces Source : Atlanta Business Chronicle Metro City Plaza
MARKET ANAL YSI S
SALES COMPARABLES