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Transcription:

OFFERING MEMORANDUM NEWLY RENOVATED OPERATING CAR WASH NATIONAL RETAIL GROUP

TABLE OF CONTENTS THE OFFERING Disclaimer & Limiting Conditions 3 Executive Summary 4 Property Overview 5 THE PROPERTY Property Photos 6 Area Location & Highlights 10 Demographics & Traffic Count 11 NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 2 OF 17 THE MARKET Sold Comparables 12 About The Area 14 Broker Profile 15 Team Profile 16 Confidentiality Agreement 17 DARRELL CHAPMAN 404-876-1640 x 114 DChapman@BullRealty.com NATIONAL RETAIL GROUP BULLREALTY.COM

DISCLAIMER & LIMITING CONDITIONS This Confidential Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Confidential Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents. This Confidential Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein. Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Confidential Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser s obligations therein have been satisfied or waived. The Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline. This Confidential Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Confidential Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Confidential Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Confidential Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. or Owner/Seller. The terms and conditions set forth above apply to this Confidential Memorandum in its entirety and all documents, disks and other information provided in connection therewith. NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 3 OF 17

THE OFFERING EXECUTIVE SUMMARY NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 4 OF 17 NEWLY RENOVATED OPERATING CAR WASH Bull Realty is proud to offer this unique 11,436 SF car wash/service facility built in 2005. Located just off Interstate 285 at the entrance to a Home Depot and Super Walmart Shopping Center, recent improvements include all new top-of-theline tunnel equipment and cosmetic upgrades. The building features 6 roll up garage doors for auto service and an upscale second floor office layout, along with a fully equipped commercial kitchen. Georgia Dept. of Transportation traffic counts reports show 26,000+ vehicles per day at this busy intersection. PRICE $1,800,000

PROPERTY OVERVIEW THE OFFERING 1185 RESEARCH CENTER DRIVE Address 1185 Research Center Drive Atlanta SW Atlanta, GA 30331 County Fulton Building Square Footage 11,436 SF Lot Square Footage 37,287 SF Zoning C2 Occupancy 100% Year Built 2005 Assessor s Parcel 14F0010LL06 2016 Projected Revenue $725,000 Price $1,800,000 NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 5 OF 17

PAGE 6 OF 17 PHOTOS

PHOTOS PAGE 7 OF 17

PAGE 8 OF 17 PHOTOS

PHOTOS PAGE 9 OF 17

AREA LOCATION & HIGHLIGHTS 1185 RESEARCH CENTER DRIVE ATLANTA SW DALLAS DOUGLASVILLE CUMMING CARTERSVILLE HOLLY SPRINGS MILTON 400 BUFORD ACWORTH WOODSTOCK ALPHARETTA KENNESAW 75 MARIETTA POWDER SPRINGS MABLETON 20 CANTON SMYRNA 575 ROSWELL SANDY SPRINGS DORAVILLE SUWANEE NORCROSS NORTH TUCKER ATLANTA 285 ATLANTA DECATUR JOHNS CREEK 85 LILBURN LAWRENCEVILLE SNELLVILLE PEACHTREE DEKALB AIRPORT HARTSFIELD-JACKSON INTERNATIONAL AIRPORT UNION CITY FAIRBURN EAST POINT FOREST PARK RIVERDALE STOCKBRIDGE CONYERS COVING 85 JONESBORO FAYETTEVILLE 75 MCDONOUGH PEACHTREE CITY PAGE 10 OF 17

DEMOGRAPHICS & TRAFFIC COUNT AREA HIGHLIGHTS THE PROPERTY 141,100 26,160 2016 DEMOGRAPHICS (Esri) 1 MILE Population 3,796 Households 1,710 Average Household Income $67,231 3 MILES Population Households Average Household Income Population Households Average Household Income 57,242 23,180 $57,452 5 MILES 155,410 60,824 $57,767 NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 11 OF 17

SOLD COMPARABLES 2 1 THE MARKET 3 NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 12 OF 17 MAP # STREET ADDRESS CITY SIZE SOLD DATE SALE PRICE PRICE/SF DETAIL PAGE Subject Property SUBJECT PROPERTY 1185 Research Center Drive Atlanta SW Atlanta 11,436 SF TBD $1,800,000 $157.39 13 1 3385 Buford Drive Buford 12,637 SF 7/7/2015 $2,500,000 $197.83 13 2 11725 Cotton Creek Entry Alpharetta 6,202 SF 2/9/2015 $2,100,000 $338.60 13 3 3105 Peachtree Industrial Blvd Duluth 6,680 SF 8/20/2015 $2,500,000 $374.25 13 4 675 Southside Commercial Pkwy Jonesboro 6,494 SF 7/22/2015 $1,650,000 $254.08 13 4

SUBJECT PROP - 1185 Research Ctr. Dr. Atlanta SW Property Size 11,436 SF Sale Price $1,800,000 Price/SF $157.39 SOLD COMP - 3385 Buford Drive 1 SOLD COMPARABLES Property Size 12,637 SF Closing Date 7/7/2015 Sold Price $2,500,000 Price/SF $197.83 COMMENTS: This car wash/service facility was built in 2005 and was recently renovated. It is fully occupied and zoned C2. COMMENTS: This car wash was built in 2004 and spent 99 days on the market. It also has multiple tenants and is zoned AAO12. THE MARKET SOLD COMP - 11725 Cotton Creek Entry 2 Property Size 6,202 SF Closing Date 2/9/2015 Sold Price $2,100,000 Price/SF $338.60 COMMENTS: This car wash was built in 2000 and has single occupancy. It is zoned CUP. SOLD COMP - 675 Southside Commercial Pkwy. 4 Property Size 6,494 SF Closing Date 7/22/2015 Sold Price $1,650,000 Price/SF $254.08 COMMENTS: This car wash was built in 2002 and has single occupancy and is zoned GB. SOLD COMP - 3105 Peachtree Industrial Blvd. 3 Property Size 6,680 SF Closing Date 8/20/2015 Sold Price $2,500,000 Price/SF $374.25 COMMENTS: This car wash was built in 2002 and spent 114 days on the market. It also has single occupancy and is zoned C4. NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 13 OF 17

ABOUT THE AREA LOCATION ATLANTA, GEORGIA THE MARKET Atlanta is an exciting destination with world-class restaurants, a festive nightlife, several major league sports teams and an abundance of cultural attractions. Atlanta s arts and culture scene is complemented by in-town neighborhoods that give the city even more depth. These locations are in the neighborhoods of Midtown, Virginia-Highland, Little Five Points and Inman Park - a short cab ride away. Home to the busiest and most efficient airport in the world, Hartsfield- Jackson Atlanta International Airport, and the Maynard H. Jackson International Terminal, getting to Atlanta is easy. With a variety of transportation options throughout the city, our guides, maps, shuttles, tours and Atlanta Ambassadors make getting around Atlanta easy too. With many nationally recognized, iconic attractions, film companies and celebrities have flocked to the city to produce high grossing movies like Anchorman 2, Captain America: Civil War, three movies from the Fast and Furious franchise, three installments of The Hunger Games, Neighbors and Neighbors 2. Because of this, Atlanta has been dubbed the Hollywood of the South. NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 14 OF 17 Encompassing $304 billion, the Atlanta metropolitan area is the eighthlargest economy in the country and 17th-largest in the world. Corporate operations comprise a large portion of the Atlanta s economy, with the city serving as the regional, national, or global headquarters for many corporations. Atlanta contains the country s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS, and Newell-Rubbermaid.

BROKER PROFILE DARRELL CHAPMAN V.P. National Industrial Group While Darrell is experienced in all types of commercial properties throughout the Southeast, his primary focus has been industrial investment properties and mixed use developments in the North Atlanta market. As a long time resident of the suburbs of North Atlanta, he has extensive knowledge of the area and the business trends in these markets. Marketing more than $300 million in commercial property since 2007, Darrell has become a recognized go-to broker in North Georgia. Darrell helped establish Bull Realty s first satellite office on GA 400 north of Atlanta. He is a member of the Atlanta Commercial Board of Realtors, Atlanta Commercial Board of Realtors Million Dollar Club, the National Association of REALTORS, the Dawson County Chamber of Commerce and the Hall County Chamber of Commerce. Darrell lives in Dawsonville with his wife of 21 years, his young daughter and a menagerie of pets. Favorite hobbies include boating, water skiing and off-roading. Some notable closings include a 9 acre site in Gwinnett County for the Georgia Regional Transportation Authority for $3.2 million, a retail park with 20 tenants next to the North Georgia Premium Outlet Mall which sold for $4.5 million, a commercial development park in north Georgia on GA Hwy 400 for $4.9 MM, a medical office park for $2.4 million, a $1.4 million dollar land sale to RaceTrac Petroleum, and several retail sales including C Stores, Car Washes, and Shopping Centers. Prior to commercial real estate sales, Darrell enjoyed a successful career in the boating industry, and worked as a manager, consultant, and trainer for many of the leading dealerships in the Southeast. Darrell eventually operated his own successful dealership in Forsyth County and honed his reputation for honesty and integrity selling boats to customers all over the world. Darrell attended the University of Tennessee studying electrical engineering. Darrell Chapman 404-876-1640 x 114 DChapman@BullRealty.com PAGE 15 OF 17

TEAM PROFILE DARRELL CHAPMAN V.P. National Industrial Group AUBRI LIENEMANN Marketing RICK LEWIS Marketing SCOTT JACKSON Analyst PAGE 16 OF 17 Darrell Chapman 404-876-1640 x 114 DChapman@BullRealty.com

CONFIDENTIALITY AGREEMENT This Confidentiality Agreement ( Agreement ) is made and agreed to for the benefit of the undersigned party ( Receiving Party ), the owner of the subject property (the Seller ) and undersigned broker Bull Realty Incorporated ( Broker ). Now therefore in consideration of the privileges granted to Receiving Party with respect to receiving certain confidential information, and other good and valuable consideration, the Receiving Party hereby agrees to the following: I. Confidential Information: Receiving Party will receive confidential information regarding property referred to as 1185 Research Center Drive Atlanta SW, Atlanta, GA 30331. Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are taking place concerning the property, nor any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and expenses, and any such possible purchase, including the status thereof. The term person used in this agreement shall be interpreted broadly and shall include, without limitation, any corporation, company, partnership or individual other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of the requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site. II. Acting as a Principal: Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding this contemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity as representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire an investment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid a commission at closing as per separate agreement with Seller. This agreement will expire two years from the date hereof. III. Governing Law This Agreement shall be governed and construed in accordance with the laws of the State of Georgia. Accepted and agreed to this day of, 20. Receiving Party Signature Printed Name Title Company Name Address Email Phone Fax Darrell Chapman 404-876-1640 x 114 DChapman@BullRealty.com Fax: 404-876-7073 50 Glenlake Parkway Suite 600 Atlanta, GA 30328 NEWLY RENOVATED OPERATING CAR WASH Georgia PAGE 17 OF 17