FAMILY KORNER CONVENIENCE STORE AND GAS …...Occupancy % 100% Tenancy Single Year Built 1971 Load Factor Yes PROPERTY DETAILS Property Type Retail Property Subtype Free Standing Building

F A M I L Y K O R N E R C O N V E N I E N C E S T O R E A N D G A S S T A T I O N

1 9 1 W E S T A N D R E W S S T R E E T / MILLEDGEVILLE , GA 31061

A P R I L 2 7 , 2 0 1 8O F F E R I N G M E M O R A N D U M

F A M I LY K O R N E R C O N V E N I E N C E S T O R E A N D G A S S T A T I O N

TA B L E O F C O N T E N T S

I. PROPERTY INFORMATION 3

II. PROPERTY DESCRIPTION 8

III. LOCATION INFORMATION 13

IV. FINANCIAL ANALYSIS 18

V. DEMOGRAPHICS 21

ContentsConfidentiality & DisclaimerAll materials and information received or derived from ACRE Investment Real Estate Services,LLC its directors, officers, agents, advisors, affiliates and/or any third party sources are providedwithout representation or warranty as to completeness , veracity, or accuracy, condition of theproperty, compliance or lack of compliance with applicable governmental requirements,developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.

Neither ACRE Investment Real Estate Services, LLC its directors, officers, agents, advisors, oraffiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the any materials or information provided, derived, or received. Materials andinformation from any source, whether written or verbal, that may be furnished for review are nota substitute for a party’s active conduct of its own due diligence to determine these and othermatters of significance to such party. ACRE Investment Real Estate Services, LLC will notinvestigate or verify any such matters or conduct due diligence for a party unless otherwiseagreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party. All financial datashould be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. ACRE Investment Real EstateServices, LLC makes no warranties and/or representations regarding the veracity, completeness,or relevance of any financial data or assumptions. ACRE Investment Real Estate Services, LLCdoes not serve as a financial advisor to any party regarding any proposed transaction. All dataand assumptions regarding financial performance, including that used for financial modelingpurposes, may differ from actual data or performance. Any estimates of market rents and/orprojected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual andgovernmental limitations as well as market conditions,vacancy factors and other issues in orderto determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies. All properties and services are marketed by ACREInvestment Real Estate Services, LLC in compliance with all applicable fair housing and equalopportunity laws.

II | PROPERTY INFORMATIONA C R E I N V E S T M E N T R E A L E S T A T E S E R V I C E S

514 VIA DE LA VALLE | SOLANA BEACH, CA 92075WWW.ACRECOMMERCIAL.COM

C R A I G S T E W A R T, M B A

760.230.8014 X1001

[email protected]

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 P R O P E R T Y I N F O R M A T I O N | 4O F F E R I N G M E M O R A N D U M

OFFERING SUMMARY

Sale Price: $1,050,000

Price / Unit: $1,050,000

Price / SF: $660.38

Cap Rate: 8.0%

Building Size: 1,590

Lot Size: 0.5 Acres

Year Built: 1971


E X E C U T I V E S U M M A R Y


ACRE Investment Real Estate Services is proud to present the sale of a NNN investment property inMilledgeville, Georgia. Family Korner is a well-located convenience store and gas station. The property iscurrently improved with a single-tenant fuel station totaling 2,000 square-feet. The lease is an absoluteNNN for 10 years, starting in February 2018, with annual rent increases of 2%. The total land size of 0.49acres (21,780 square feet). The current structure was originally built in 1976 and most recently renovated in2010. The parking lot contains 10 parking spaces and 2 pumping stations. The zoning is C-1 CommercialGas Station. The asset is currently improved with a Family Korner. Located on Andrews Street and SouthWilkinson Street.

PROPERTY OVERVIEW


I N V E S T M E N T O V E R V I E W


PROPERTY HIGHLIGHTS

• 8% CAP Rate

• Excellent Location on Hard Corner

• Brand New 10 Year Lease

• 2% Annual Rent Increases

• Absolute NNN Lease


I N V E S T M E N T H I G H L I G H T S



P R O P E R T Y P H O T O S

I II I | PROPERTY DESCRIPT IONA C R E I N V E S T M E N T R E A L E S T A T E S E R V I C E S



760.230.8014 X1001

[email protected]

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 P R O P E R T Y D E S C R I P T I O N | 9O F F E R I N G M E M O R A N D U M

SALE PRICE $1,050,000

LOCATION INFORMATION

Building Name Family Korner Convenience Store and Gas Station

Street Address 191 West Andrews Street

City, State, Zip Milledgeville, GA 31061

County/Township Baldwin

BUILDING INFORMATION

Building Size 1,590 SF

Occupancy % 100%

Tenancy Single

Year Built 1971

Load Factor Yes

PROPERTY DETAILS

Property Type Retail

Property Subtype Free Standing Building

Zoning Commercial

Lot Size 21,780 SF


P R O P E R T Y D E TA I L S

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 P R O P E R T Y D E S C R I P T I O N | 1 0O F F E R I N G M E M O R A N D U M









I I II I I | LOCATION INFORMATIONA C R E I N V E S T M E N T R E A L E S T A T E S E R V I C E S



760.230.8014 X1001

[email protected]

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 L O C A T I O N I N F O R M A T I O N | 1 4O F F E R I N G M E M O R A N D U M

Located on Hwy 441 in Milledgeville, GA. Milledgeville is 100 miles Southeast of Atlanta, Georgia.

LOCATION OVERVIEW DEMOGRAPHICS

1 MILE 5 MILES 10 MILES

Total Households 1,063 9,348 17,391

Total Population 3,769 29,641 51,434

Average HH Income $36,762 $44,480 $48,117


L O C AT I O N O V E R V I E W



R E G I O N A L M A P


Family Korner ConvenienceStore and Gas Station


A E R I A L M A P



R E TA I L E R M A P

IVIV | F INANCIAL ANALYSISA C R E I N V E S T M E N T R E A L E S T A T E S E R V I C E S



760.230.8014 X1001

[email protected]

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 F I N A N C I A L A N A L Y S I S | 1 9O F F E R I N G M E M O R A N D U M

INVESTMENT OVERVIEW

Price $1,050,000Price per SF $660.38CAP Rate 8.0%

OPERATING DATA

Net Operating Income $84,000


F I N A N C I A L S U M M A R Y

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 F I N A N C I A L A N A L Y S I S | 2 0O F F E R I N G M E M O R A N D U M

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

% OFGLA

PRICEPER SF/YR

Family Corner 191 West 1,590 2/1/2018 2/29/2028 $84,000 100.0 $52.83

Totals/Averages 1,590 $84,000 $52.83


R E N T R O L L

VV | DEMOGRAPHICSA C R E I N V E S T M E N T R E A L E S T A T E S E R V I C E S



760.230.8014 X1001

[email protected]

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 D E M O G R A P H I C S | 2 2O F F E R I N G M E M O R A N D U M

1 MILE 5 MILES 10 MILES

Total population 3,769 29,641 51,434

Median age 29.7 32.5 33.9

Median age (male) 29.1 31.9 33.6

Median age (female) 28.8 30.7 32.9

Total households 1,063 9,348 17,391

Total persons per HH 3.5 3.2 3.0

Average HH income $36,762 $44,480 $48,117

Average house value $60,163 $65,975 $85,234

Total Population - White 1,215 14,622 28,083

% White 32.2% 49.3% 54.6%

Total Population - Black 2,496 14,420 22,266

% Black 66.2% 48.6% 43.3%

Total Population - Asian 30 351 654

% Asian 0.8% 1.2% 1.3%

Total Population - Hawaiian 0 0 0

% Hawaiian 0.0% 0.0% 0.0%

Total Population - American Indian 10 26 36

% American Indian 0.3% 0.1% 0.1%

Total Population - Other 1 35 72

% Other 0.0% 0.1% 0.1%

Total Population - Hispanic 31 612 1,052

% Hispanic 0.8% 2.1% 2.0%

* Demographic data derived from 2010 US Census


D E M O G R A P H I C S R E P O R T

1 9 1 W E S T A N D R E W S S T R E E T , M I L L E D G E V I L L E , G A 3 1 0 6 1 D E M O G R A P H I C S | 2 3O F F E R I N G M E M O R A N D U M

POPULATION 1 MILE 5 MILES 10 MILESTotal population 3,769 29,641 51,434

Median age 29.7 32.5 33.9

Median age (male) 29.1 31.9 33.6

Median age (Female) 28.8 30.7 32.9

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 1,063 9,348 17,391

# of persons per HH 3.5 3.2 3.0

Average HH income $36,762 $44,480 $48,117

Average house value $60,163 $65,975 $85,234

ETHNICITY (%) 1 MILE 5 MILES 10 MILESHispanic 0.8% 2.1% 2.0%

RACE (%)White 32.2% 49.3% 54.6%

Black 66.2% 48.6% 43.3%

Asian 0.8% 1.2% 1.3%

Hawaiian 0.0% 0.0% 0.0%

American Indian 0.3% 0.1% 0.1%

Other 0.0% 0.1% 0.1%

* Demographic data derived from 2010 US Census


D E M O G R A P H I C S M A P

F A M I L Y K O R N E R C O N V E N I E N C E S T O R E A N D G A S S T A T I O NC R A I G S T E W A R T, M B A760.230.8014 X1001

[email protected]

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FAMILY KORNER CONVENIENCE STORE AND GAS …...Occupancy % 100% Tenancy Single Year Built 1971 Load Factor Yes PROPERTY DETAILS Property Type Retail Property Subtype Free Standing Building