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PREPARED BY:

Coldwell Banker CommercialKING1 N. Pack Square Suite 105Asheville, NC 28801

Beacon Commons

Jeff Soto

828-691-1550jsoto@cbcworldwide.com

For Sale

475 S. Church Street

Hendersonville, NC 28792

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TABLE OF CONTENTS

Confidentiality Statement 3

Executive Summary 4

Property Photos 5

Property Overview 6

Property Description 7

Maps and Aerials 8

Tax Map 9

Financials 10

Rent Roll 11

Demographic 12

Additional Photos 15

Contact Information 17

©2015 Coldwell Banker Real Estate LLC, KING Coldwell Banker Commercial Affiliates. All Rights Reserved. Coldwell Banker Real Estate LLC, KING Coldwell Banker Commercial Affiliates fully supports the principles of the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker Commercial and the Coldwell Banker Commercial Logo are registered service marks owned by Coldwell Banker Real Estate LLC, KING Coldwell Banker Commercial Affiliates.

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CONFIDENTIALITY STATEMENT

This offering has been prepared solely for informational purposes. It is designed to assist

a potential investor in determining whether it wishes to proceed with an in-depth

investigation of the subject property. While the information contained herein is from

sources deemed reliable, it has not been independently verified by the Coldwell Banker

Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on

assumptions considered reasonable under the circumstances. No representations or

warranties, expressed or implied, are made that actual results will conform to such

projections.

This document is provided subject to errors, omissions and changes in the information

and is subject to modification or withdrawal. The contents herein are confidential and are

not to be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS”

CONDITION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES

OF ANY KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate,

buyer will be given a reasonable opportunity to inspect and investigate the Property and

all improvements thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without

notice, to reject all offers, and to accept any offer without regard to the relative price and

terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-

binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to

be prepared by the Seller and executed by both parties; and (iii) approved by Seller and

such other parties who may have an interest in the Property. Neither the prospective buyer

nor Seller shall be bound until execution of the contract of purchase and sale, which

contract shall supersede prior discussions and writings and shall constitute the sole

agreement of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the

Property and all other expenses, professional or otherwise, incurred by them.

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EXECUTIVE SUMMARY

PROPERTY SPECIFICATIONS

PRICE

THE PROPERTY

475 S. Church Street

Hendersonville NC 28792

Property Type: Office

Class: A

Building Size: 27,672

Land: 3.15 Acres

Number of Stories: 1

Year Built/Renovated: 2005

North Building:

South Building:

14,004

13,668

Sale Price:

North Building:

South Building:

$2,345,000

$1,225,000

$1,120,000

Class: A

MARKET HIGHLIGHTS

Centrally located Class A office space

INVESTMENT HIGHLIGHTS LOCATION HIGHLIGHTS

• Main-level first floor of a two-building mixed-

use commercial and residential master

planned condominium development

• Recent significant renovations

• 68 Parking spaces

• Fully Sprinklered

• CMU Zoning – Central Mixed Use

• Traffic Count 14,000 PDA

• Centrally located downtown

Hendersonville

• 20 miles south of Asheville, NC

• Walkable in town location

CONSTRUCTION

Year Built: 2005

Structure: Concrete and Steel

Interior Painted Drywall

Ceiling: Drop Acoustic tile

Flooring: Carpet and ceramic tile

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PROPERTY OVERVIEW

PROPERTY PHOTOS

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PROPERTY OVERVIEW

PROPERTY SPECIFICATIONS

THE PROPERTY

475 S. Church Street

Hendersonville, NC 28792

Property Type: Office

Class: A

Building Size: 27,672

Land: 3.15 Acres

Number of Stories: 1

Year Built/Renovated: 2005

North Building: 14,004 SF

South Building: 13,668 SF

PRICE

Total Sale Price:

North Building:

South Building:

$2,345,000

$1,225,000

$1,120,000

Total Price/SF

North Building/SF

South Building/SF

$84.74

$87.48

$81.94

LEASE INFORMATION

Suites

Tenancy:

11

8

Percent Leased: 76%

Space Available: 6,536 SF, all space

available 2018

Annual Rent: $12/SF/ Triple NetPROPERTY SPECIFICATIONS

Cross Street: Kanuga Rd

Located: South End

Office Park: Beacon Commons

Land: Hendersonville

Submarket: Asheville MSA

County Henderson

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Property Description

Beacon Commons is a modern mixed-use commercial and residential master planned condominium development containing of two buildings at the end of Church Street in the heart of downtown Hendersonville. The offering consists of two main-level first floor commercial condominiums totaling 27,672 square feet with CMU Zoning – Central Mixed Use. The North and South buildings are being offered for purchase together or separately. Sixteen privately owned residential condominiums on the second and third floors are not included.

The property is 76% occupied and contain an excellent tenant mix for the surrounding demographics. Current occupants include financial, medical, and legal offices, and other professional services. The North building consists of five suites totaling 14,004 square feet. Four suites are currently tenant occupied. The South building consists of six suites totaling 13,668 square feet. Four suites are currently tenant occupied. Three vacant suites totaling 6,536 square feet are ready for lease, allowing an investor add additional rental income.

The two buildings are connected by a central access point. Each building has security key pad entries, common central corridors with common bathrooms. The property was built in 2005 and has undergone significant renovation, including extensive interior improvements, new monument sign, and common area modifications.

This property is located on 3.15 acres in the heart of the Central Business District with immediate proximity to downtown Hendersonville, excellent signage & visibility, easy ingress/egress, and ample parking. Within half a mile is a recently constructed Publix grocery, CVS, and Walgreens. The central downtown location allows for walkability to many businesses, Restaurants, Retail, Office Professional, and Hospitality. Exterior and grounds are professionally maintained. One of Hendersonville’s truly Class-A properties.

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MAPS & AERIALS

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TAX MAP

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FINANCIALS

BEACON COMMONS

Square Footage 27,672 14,004 13,668

Vacant Leasable SF 6,536 3,422 3,114

INCOME Total North Building South Building

2018 Base Rent $ 193,145 $ 99,946 $ 93,199

CAM Reimbursements 65,027 32,509 32,517

Gross Potential Revenue $ 258,171 $ 132,455 $ 125,716

EXPENSES

Repairs & Maintenance $ 7,620

Utilities 16,195

Contract Services 19,766

Supplies 4,087

Property Taxes 30,983

Property Owners Association 48,147

Property Management 13,419

Total Expenses $ 140,216 $ 70,960 $ 69,257

Additional Income on Vacant ($12NNN) 78,429 41,064 37,365

NET OPERATING INCOME $ 196,383 $ 102,560 $ 93,824

Cap Rate 8.0% 8.0% 8.0%

Value $ 2,454,793 $ 1,281,996 $ 1,172,797

Lease-Up Costs *** (98,036) (51,330) (46,706)

Price $ 2,355,000 $ 1,225,000 $ 1,130,000

$/SF $ 85 $ 87 $ 83

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RENT ROLL

RENT ROLL

Suite Tenant Square footage Start Date End Date Comments

100 Hilliard Lyons 2893 10/25/12 12/32/21 NNN

201 Harpe Laser &

Wellness

849 8/1/17 7/31/20 NNN

205 Hansa,NC

LLC

1634 8/1/15 7/31/20 NNN

207 Vacant 2004

211 Ionicware, Inc 2112 12/8/16 12/31/20 NNN

300 Vacant 790

Suite Tenant Square Footage Start Date End Date Comments

400 The Vanity

Space

769 4/1/15 6/30/19 Modified Gross

Tenant pays Utilities

500 Sheffron Law 4211 12/1/15 5/31/21 NNN

600 Radon

Association

2370 4/1/16 5/31/19 NNN

700 Movement

Mortgage

2162 11/1/17 10/31/20 NNN

800 Vacant 3422

South Building

North Building

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DEMOGRAPHICS

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DEMOGRAPHICS

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DEMOGRAPHICS

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ADDITIONAL PHOTOS

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ADDITIONAL PHOTOS

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CONTACT INFORMATION

For more information, please contact:

Jeff Soto

COLDWELL BANKER COMMERCIAL

King

1 N. Pack Square Suite 105

Asheville, NC 28801

Phone: 828-398-5960

Fax: 828-398-5701

Mobile: 828-691-1550

jsoto@cbcworldwide.com