CLOVERDALE VILLAGE 2635-2637/2595-2597/ 2583-85/2543-2545 NW CLOVER ROAD CONCORD, NC 28027 Kyle Kennedy, CAM Associate Advisor 704.892.5653 kyle.kennedy@svn.com Jim Juhl Senior Advisor 704.892.5653 jim.juhl@svn.com Spencer Crigler Associate Advisor 704.892.5653 spencer.crigler@svn.com SVN Commercial Real Estate Advisors 19901 West Catawba Avenue Suite 102, Charlotte, NC 28031 SALE BROCHURE
Executive Summary OFFERING SUMMARY Sale Price: $1,575,000 Number Of Units: 12 Cap Rate: 5.6% NOI: $88,254 Year Built: 2001 PROPERTY OVERVIEW The sell includes 4 Duplex's consisting of 8 rental units on four individual lots as well as 4 additional single family homes. The property is well maintained by the owner/developer. Current rents are below market, providing rental upside for the new owner. Investor demand for multifamily continues to be strong for all asset classes, especially those with value add opportunities in the Charlotte/Concord Market. PROPERTY HIGHLIGHTS 100% Occupancy Rental Upside in a Hot Market Close Proximity to major employment centers, retail, Concord Mills Mall, downtown Concord, and Charlotte Motor Speedway Quick and Easy access to Charlotte and the NC Triad via Interstate 485/85 Major Value Add potential Submarket: Concord CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 2
Location Description LOCATION OVERVIEW Great location in a residential neighborhood near downtown Concord. The property is located near shopping and entertainment. Cloverdale is located close to Concord Mills Mall and Charlotte Motor Speedway. Quick and easy access to Charlotte via Intestate 85. Charlotte/Concord is a top regional performer. The job market is strong, with growth in incomes and employment. These numbers are near the top statewide and above the U.S average. A rise in the labor force is preventing the unemployment rate from decreasing. Income growth is energizing the housing/ rental markets. CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 3
Rent Roll UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) LEASE START CURRENT RENT (PER SF) MARKET RENT MARKET RENT/SF CURRENT RENT 2635 2 1.5 1,062 Current $0.71 $1,000 $0.94 $750 2637 2 1.5 1,062 Current $0.71 $1,000 $0.94 $750 2595 2 1.5 1,062 Current $0.75 $1,000 $0.94 $800 2597 2 1.5 1,062 Current $0.75 $1,000 $0.94 $800 2683 2 1.5 1,062 Current $0.75 $1,000 $0.94 $800 2685 2 1.5 1,062 Current $0.75 $1,000 $0.94 $800 2543 2 1.5 1,062 Current $0.85 $1,100 $1.04 $900 2545 2 1.5 1,062 Current $0.85 $1,100 $1.04 $900 2627 2 1.5 1,200 Current $0.88 $1,200 $1.00 $1,050 2619 2 1.5 1,200 Current $0.88 $1,200 $1.00 $1,050 2587 3 2 1,200 Current $1.12 $1,500 $1.25 $1,345 2563 2 1.5 1,200 Current $0.92 $1,200 $1.00 $1,100 Totals/Averages 13,296 $0.83 $13,300 $1.00 $11,045 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 4
Regional Map CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 5
Location Maps CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 6
CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 7
Retailer Map CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 8
Local Schools CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 9
Demographics Map POPULATION 1 MILE 5 MILES 10 MILES Total population 3,207 80,969 348,597 Median age 36.4 33.8 33.7 Median age (male) 36.8 33.6 33.0 Median age (Female) 35.2 34.1 34.4 HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES Total households 1,056 29,402 131,124 # of persons per HH 3.0 2.8 2.7 Average HH income $87,665 $81,230 $69,565 Average house value $278,169 $237,061 $224,271 * Demographic data derived from 2010 US Census CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 10
Additional Photos CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 11
Additional Photos CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 12
Cloverdale Village CLOVERDALE VILLAGE 2585 CLOVER ROAD CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 13
Advisor Bio & Contact 1 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. EDUCATION 19901 West Catawba Avenue Suite 102 Charlotte, NC 28031 T 704.892.5653 C 304.910.9750 kyle.kennedy@svn.com NC #283921 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 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 14
Advisor Bio & Contact 2 JIM JUHL Senior Advisor PROFESSIONAL BACKGROUND Jim Juhl serves as advisor for Sperry Van Ness, specializing in the sale of multi-family properties in Charlotte, and the Carolinas. Serving apartment owners since 2004, Juhl has developed an extensive knowledge of the apartment market. He has delivered results for owners of individual properties and apartment portfolios. He is an expert on REO dispositions. Juhl is driven to exceed expectations. In order to deliver results, he actively listens to his clients to better understand the requirements beyond the transaction. 19901 West Catawba Avenue Suite 102 Charlotte, NC 28031 T 704.892.5653 C 704.293.0780 jim.juhl@svn.com NC #201950 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 15
Advisor Bio & Contact 3 SPENCER CRIGLER Associate Advisor PROFESSIONAL BACKGROUND Spencer recently graduated from the University of North Carolina at Charlotte as a Bachelor of Science in Business Administration in Marketing. He is a hardworking and driven young individual with a bright mind and familiar with commercial real estate trends. Specializing in retail investment sales and leasing, the marketing background helps bring the most prospective clients to the table. 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. Spencer was awarded "Rookie of the Year" in 2016 in his first 6 months as a broker! 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 CLOVERDALE VILLAGE 2585 CLOVER ROAD, CONCORD, NC 28027 SVN Commercial Real Estate Advisors Page 16