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Offering MemorandumOffering Memorandum1 4 , 0 0 0 S F A U T O R E T A I L S T R I P1 4 , 0 0 0 S F A U T O R E T A I L S T R I P
I N V E S T M E N T O P P O R T U N I T YI N V E S T M E N T O P P O R T U N I T Y
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D I S C L A I M E R & L I M I T I N G C O N D I T I O N S 3
E X E C U T I V E S U M M A R Y 4
P R O P E R T Y O V E R V I E W 5
I N C O M E & E X P E N S E S 6
F L O O R P L A N 7
A D D I T I O N A L P H O T O S 8
A E R I A L V I E W 9
R E T A I L E R M A P 10
S A L E C O M P S M A P 11
S A L E C O M P S 12
R E N T C O M P S M A P 14
R E N T C O M P S 15
W O O D S T O C K R E T A I L P E R F O R M A N C E 18
D E M O G R A P H I C S M A P 19
A B O U T T H E A R E A 20
B R O K E R P R O F I L E 21
T E A M P R O F I L E 22
T A B L E O F C O N T E N T ST A B L E O F C O N T E N T S
Michael Bull, CCIMMichael Bull, CCIM
President, National Office GroupPresident, National Office Group
[email protected]@BullRealty.com
404-876-1640 x101404-876-1640 x101
50 Glenlake Parkway, Suite 60050 Glenlake Parkway, Suite 600
Atlanta, GA 30328Atlanta, GA 30328
BullRealty.comBullRealty.com
Exclusively listed by Bull Realty, Inc.
D I S C L A I M E R & L I M I T I N G C O N D I T I O N SD I S C L A I M E R & L I M I T I N G C O N D I T I O N S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.
This 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 Offering 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 Offering 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
Offering 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 Offering Memorandum may be used only by parties approved by the Owner. The Property is privately offered, and by accepting this Offering
Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential
nature and will be held and treated in the strictest confidence. No portion of this Offering 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 Offering
Memorandum in its entirety and all documents, disks and other information provided in connection therewith.
Opportunity to acquire a 7% cap rate fully occupied auto retail strip center.The 14,000 SF building has 3 tenants including a new 7 year lease with PartsAuthority. The low maintenance single story building is constructed of brickveneer, EFIS-finished exterior walls and a metal roof.
The property is well located in Woodstock. Woodstock was named "one of thetop 50 places to live" in 2015 by Money Magazine. The city is ranked ninth inthe state's top 10 fastest growing cities, seeing a population increase of 7.6%.Attributing to its popularity is its proximity to Downtown Atlanta, affordablehousing and strong job growth.
• 7% cap rate, fully occupied
• NOI: $171,322
• Low maintenance, metal roof, brick & EFIS exterior
• Resurfaced & striped parking lot on Sept. 24
• 1.4 acre site with 300' frontage on Main Street
• Parts Authority has 78 locations across the country
• 23,810 vehicles per day traffic count on Main Street
• Lighted monument sign
• 14-15' ceilings
• 11 drive-in doors
• Strong rental history
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E X E C U T I V E S U M M A R YE X E C U T I V E S U M M A R Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
PRICE | $2,400,000PRICE | $2,400,000
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P R O P E R T Y O V E R V I E WP R O P E R T Y O V E R V I E W1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
Address: 9880 Main Street, Woodstock, GA 30188County: CherokeeBuilding Size: 14,000 SFSite Size: 1.4 AcresParcel ID: 015N12-00000-199-000-0000Zoning: GCRoof: MetalConstruction: Brick veneer & some EFIS-finished exterior wallsCeiling Height: 14-15'Drive-in Doors: 11 metal roll-up loading doors2016 Taxes: $13,293.30NOI: $171,322Cap Rate: 7%Sale Price: $2,400,000
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I N C O M E & E X P E N S E SI N C O M E & E X P E N S E S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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F L O O R P L A NF L O O R P L A N1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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RearRear
Rear
Front Front
Rear
A D D I T I O N A L P H O T O SA D D I T I O N A L P H O T O S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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A E R I A L V I E WA E R I A L V I E W1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
R E T A I L E R M A PR E T A I L E R M A P1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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SUBJECT PROPERTYSUBJECT PROPERTY
AddressAddress CityCity SizeSize Sold DateSold Date Sale PriceSale Price Cap RateCap Rate Price/SFPrice/SF
9880 Main Street9880 Main Street Woodstock 14,000 SF - $2,400,000 7% $171.43
SALES COMPSSALES COMPS
AddressAddress CityCity SizeSize Sold DateSold Date Sale PriceSale Price Price/SFPrice/SF
11 3575 Centerville Highway Snellville 8,386 SF 03/17/2017 $1,778,000 6.75% $212.02
22 2786 Hamilton Mill Road Buford 12,800 SF 12/19/2016 $2,820,000 6.8% $220.31
33 1690 Market Place Boulevard Cumming 4,719 SF 11/16/2016 $2,735,000 6.3% $579.57
44 140 Walker Parkway Fayetteville 5,926 SF 08/02/2016 $3,785,000 6% $638.71
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S A L E C O M P S M A PS A L E C O M P S M A P1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
SUBJECT PROPERTYSUBJECT PROPERTY
9880 Main Street | Woodstock, GA 30188
$2,400,000Sale Price: 2002Year Built:
14,000 SFBuilding SF: 7.0%Cap:
$171.43Price PSF:
11
3575 CENTERVILLE HIGHWAY3575 CENTERVILLE HIGHWAY
Snellville, GA 30039
$1,778,000Sale Price: 1990Year Built:
8,386 SFBuilding SF: 6.75%Cap:
$212.02Price PSF: 03/17/2017Closed:
11
22
2786 HAMILTON MILL ROAD2786 HAMILTON MILL ROAD
Buford, GA 30519
$2,820,000Sale Price: 2006Year Built:
12,800 SFBuilding SF: 6.8%Cap:
$220.31Price PSF: 12/19/2016Closed:
22
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S A L E C O M P SS A L E C O M P S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
33
1690 MARKET PLACE BOULEVARD1690 MARKET PLACE BOULEVARD
Cumming, GA 30041
$2,735,000Sale Price: 2016Year Built:
4,719 SFBuilding SF: 6.3%Cap:
$579.57Price PSF: 11/16/2016Closed:
33
44
140 WALKER PARKWAY140 WALKER PARKWAY
Fayetteville, GA 30214
$3,785,000Sale Price: 2016Year Built:
5,926 SFBuilding SF: 6%Cap:
$638.71Price PSF: 08/02/2016Closed:
44
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S A L E C O M P SS A L E C O M P S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
SUBJECT PROPERTYSUBJECT PROPERTY
AddressAddress CityCity Rent/SF/YearRent/SF/Year Lease TypeLease Type Space SizeSpace Size Occupancy %Occupancy %
9880 Main Street9880 Main Street Woodstock $12.00 SF/yr () - 14,000 SF 100.0%
RENT COMPSRENT COMPS
AddressAddress CityCity Rent/SF/YearRent/SF/Year Lease TypeLease Type Space SizeSpace Size Occupancy %Occupancy %
11 1910 Eagle Drive Woodstock $15.00 NNN 7,000 SF -
22 9539 Highway 92 Woodstock $16.00 NNN 2,000 SF -
33 2370 Town Lake Parkway Woodstock $14.00 NNN 2,500 SF -
44 2485 Towne Lake Parkway Woodstock $13.50 NNN 1,000 SF -
55 156-180 Towne Lake Parkway Woodstock $15.00 MG 2,000 SF -
66 156-180 Towne Lake Parkway Woodstock $16.00 MG 4,000 SF -
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R E N T C O M P S M A PR E N T C O M P S M A P1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
SUBJECT PROPERTYSUBJECT PROPERTY
9880 Main Street | Woodstock, GA 30188
$12.00 SF/YRRent/SF/Year: -Lease Type:
14,000 SFSpace Size: 14,000 SFBldg Size:
11
1910 EAGLE DRIVE1910 EAGLE DRIVE
Woodstock, GA 30189
$15.00 SFRent/SF/Year: NNNLease Type:
7,000 SFSpace Size: 24,904 SFBldg Size:
11
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9539 HIGHWAY 929539 HIGHWAY 92
Woodstock, GA 30188
$16.00 SFRent/SF/Year: NNNLease Type:
2,000 SFSpace Size: 15,300 SFBldg Size:
22
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R E N T C O M P SR E N T C O M P S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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2370 TOWN LAKE PARKWAY2370 TOWN LAKE PARKWAY
Woodstock, GA 30189
$14.00 SFRent/SF/Year: NNNLease Type:
2,500 SFSpace Size: 14,632 SFBldg Size:
33
44
2485 TOWNE LAKE PARKWAY2485 TOWNE LAKE PARKWAY
Woodstock, GA 30189
$13.50 SFRent/SF/Year: NNNLease Type:
1,000 SFSpace Size: 5,900 SFBldg Size:
44
55
156-180 TOWNE LAKE PARKWAY156-180 TOWNE LAKE PARKWAY
Woodstock, GA 30188
$15.00 SFRent/SF/Year: MGLease Type:
2,000 SFSpace Size: 27,999 SFBldg Size:
55
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R E N T C O M P SR E N T C O M P S1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
66
156-180 TOWNE LAKE PARKWAY156-180 TOWNE LAKE PARKWAY
Woodstock, GA 30188
$16.00 SFRent/SF/Year: MGLease Type:
4,000 SFSpace Size: 27,997 SFBldg Size:
66
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W O O D S T O C K R E T A I L P E R F O R M A N C EW O O D S T O C K R E T A I L P E R F O R M A N C E1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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* Demographic data derived from 2010 US Census
1 Mile1 Mile 3 Miles3 Miles 5 Miles5 Miles
Total PopulationTotal Population 5,689 55,355 151,967
Population DensityPopulation Density 1,811 1,958 1,935
Median AgeMedian Age 35.6 35.3 35.7
Median Age (Male)Median Age (Male) 35.3 35.6 35.2
Median Age (Female)Median Age (Female) 36.0 35.1 36.0
Total HouseholdsTotal Households 2,248 19,895 54,638
# of Persons Per HH# of Persons Per HH 2.5 2.8 2.8
Average HH IncomeAverage HH Income $68,801 $78,316 $85,822
Average House ValueAverage House Value $204,979 $220,653 $236,735
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W O O D S T O C KW O O D S T O C K
Woodstock, GA is located about 30 miles north of Downtown Atlanta
and is one of the metro area’s most popular bedroom communities’ due
to its rich history, location to the North Georgia mountains, top ranked
schools and universities, popular shopping attractions and it was voted
as "one of the top 50 places to live in the U.S." by Money Magazine in
2015.
The city is made up of over 2,500 active business, and is the fastest
growing city in Cherokee County. Aside from the popular Downtown
Woodstock retail district that hosts many popular retail stores,
restaurants and local concerts and events, the city also draws visitors
from all over to The Outlet Shoppes of Atlanta located right off I-575.
Kennesaw State University and Chattahoochee Technical College
Woodstock Campus are both drawing more students to the area.
Kennesaw State is located 7 miles to the south and had an enrollment
of 32,166 undergraduate students in Fall 2016. Chattahoochee
Technical College Woodstock Campus is in Downtown Woodstock and
had an annual enrollment of over 10,000 students.
B R O K E R P R O F I L EB R O K E R P R O F I L E1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
Bull Realty is a commercial real estate sales, leasing and advisory firm headquartered in Atlanta and licensed in nine Southeast states.The firm was founded in 1998 with two primary missions: to provide a company of advisors known for their integrity and to provide thebest disposition marketing in the nation. Client services include disposition, acquisition, project leasing, tenant representation, assetmanagement and consulting services. Advisors focus on specific property types including office, retail, industrial, multifamily, land,healthcare, senior housing, self-storage, automotive, hospitality and single tenant net lease properties.
The firm produces America's Commercial Real Estate Show, a national video show and podcast enjoyed by millions of people around thecountry. Industry analysts, leading market participants and the firm's founder Michael Bull share market intelligence, forecasts andsuccess strategies. The show has aired every week since 2010 on iTunes, YouTube and www.CREshow.com. The firm also producesAtlanta's Commercial Real Estate Show available on AtlCREshow.com
404-876-1640 x101
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50 Glenlake Parkway, Suite 600Atlanta, GA 30328
President, National Office GroupPresident, National Office Group
MICHAEL BULL, CCIMMICHAEL BULL, CCIM Professional BackgroundProfessional BackgroundMichael Bull, CCIM is a commercial real estate advisor, broker, trainer, writer, author, speaker and radio showhost. He has closed over 5 billion dollars of sale and lease transactions over his 30 year career.
Mr. Bull’s articles have been published nationwide including in the National Real Estate Investor, France MediaPublications, Atlanta Journal Constitution, Atlanta Business Chronicle, Multi-Housing News, Shopping CenterBusiness and Nation’s Restaurant News.
Michael is executive producer and host of America's Commercial Real Estate Show. The popular weekly onehour show began broadcasting in 2010 and today is heard by millions of people around the country. Respectedindustry analysts and leading market participants join Michael to share market intelligence, forecasts andsuccess strategies. The show is available on radio stations and on any device, anytime on iTunes, YouTube andthe show website, www.CREshow.com.
Michael also produces a video series answering a new commercial real estate related question each businessday. Videos are available at www.CREshow.com/Answers.
Mr. Bull founded Bull Realty in 1998 with two primary missions: to provide a company of brokers known forintegrity, and to provide the best disposition marketing in the nation. Michael and his brokers provide expertadvice and capital markets expertise related to office, retail, industrial, land, apartments, single tenant net leaseinvestment properties, healthcare real estate, senior housing and other specialties.
Michael’s involvement with professional organizations include CCIM Member, National Association ofREALTORS, the International Council of Shopping Centers, the Real Estate Brokerage Managers Council, AtlantaLeaders Group, Real Estate Group of Atlanta, the Georgia Bankers Association, the Atlanta Press Club, theAtlanta Chamber of Commerce, the Georgia Real Estate Educators Association and the National Association ofReal Estate Editors.
Michael lives in the Chastain Park area of Atlanta and enjoys spending time with his family, music, basketball andperformance boating.
Bull Realty Inc.Bull Realty Inc.
T E A M P R O F I L ET E A M P R O F I L E1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y1 4 , 0 0 0 S F A U T O R E T A I L S T R I P I N V E S T M E N T O P P O R T U N I T Y
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Michael Bull, CCIMMichael Bull, CCIMBroker
[email protected] x101
Aubri LienemannAubri LienemannMarketing
Michael BullMichael BullBroker
Grant SmithGrant SmithMarketing
Scott JacksonScott JacksonAnalyst
