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NEWLY RENOVATED OPERATING CAR WASH OFFERING MEMORANDUM NATIONAL RETAIL GROUP

OFFERING MEMORANDUM · Sold Comparables 12 . About The Area 14 Broker Profile 15 Team Profile 16 Confidentiality Agreement 17. NATIONAL RETAIL GROUP | BULLREALTY.COM . DARRELL CHAPMAN

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Page 1: OFFERING MEMORANDUM · Sold Comparables 12 . About The Area 14 Broker Profile 15 Team Profile 16 Confidentiality Agreement 17. NATIONAL RETAIL GROUP | BULLREALTY.COM . DARRELL CHAPMAN

N E W L Y R E N O V A T E D O P E R A T I N G C A R W A S H

O F F E R I N G M E M O R A N D U M

N A T I O N A L R E T A I L G R O U P

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| T A B L E O F C O N T E N T S

THE OFFERINGDisclaimer & Limiting Conditions 3 Executive Summary 4 Property Overview 5

THE PROPERTYProperty Photos 6Area Location & Highlights 10 Demographics & Traffic Count 11

THE MARKETSold Comparables 12 About The Area 14 Broker Profile 15Team Profile 16Confidentiality Agreement 17

N A T I O N A L R E T A I L G R O U P | B U L L R E A L T Y . C O M

DARRELL CHAPMAN| 404-876-1640 x 114 | [email protected]

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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.

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

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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-the-line 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.

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

N E W L Y R E N O V A T E D O P E R A T I N G C A R W A S H

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Address 1185 Research Center Drive Atlanta SW Atlanta, GA 30331County FultonBuilding Square Footage 11,436 SFLot Square Footage 37,287 SFZoning C2Occupancy 100%Year Built 2005Assessor’s Parcel 14F0010LL062016 Projected Revenue $725,000Price $1,675,000

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P R O P E R T Y O V E R V I E W

1 1 8 5 R E S E A R C H C E N T E R D R I V E

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P H O T O S

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P H O T O S

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P H O T O S

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P H O T O S

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A R E A L O C A T I O N & H I G H L I G H T S

1185 RESEARCH CENTER DRIVE ATLANTA SW

ATLANTA DECATUR

TUCKER

LILBURNSNELLVILLE

MONROE

COMMERCE

WINDER

ATHENS

BRASELTON

COVINGTON

CONYERS

DORAVILLESMYRNA

MABLETON

ROSWELL

ALPHARETTA

MARIETTADALLAS

KENNESAW

ACWORTH

CARTERSVILLE

ADAIRSVILLE

WOODSTOCK

CANTON

CUMMING

MILTON

LAKE LANIER

NELSON

LAWRENCEVILLE

JOHNS CREEK

SUWANEE

BUFORD

GAINESVILLE

EAST POINT

FOREST PARK

STOCKBRIDGE

JONESBORO

FAIRBURNRIVERDALEUNION CITY

FAYETTEVILLE

DOUGLASVILLE

MCDONOUGH

PEACHTREECITY

NORTHATLANTA

HOLLYSPRINGS

NORCROSSSANDYSPRINGS

POWDERSPRINGS

75

20

20

575

285

7585

85

85

400

985

HARTSFIELD-JACKSONINTERNATIONAL AIRPORT

PEACHTREE DEKALBAIRPORT

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THE

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A R E A H I G H L I G H T S

PopulationHouseholds

Average Household Income

PopulationHouseholds

Average Household Income

PopulationHouseholds

Average Household Income

3,7961,710$67,231

57,24223,180$57,452

155,41060,824$57,767

2016 DEMOGRAPHICS (Esri) 1 MILE

3 MILES

5 MILES

26,160

141,100

D E M O G R A P H I C S & T R A F F I C C O U N T

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MAP # STREET ADDRESS CITY SIZE SOLD DATE SALE PRICE PRICE/SF DETAIL PAGE

Subject Property

1185 Research Center Drive Atlanta SW

Atlanta 11,436 SF TBD $1,675,000 $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

S O L D C O M P A R A B L E S

3

1

SUBJECTPROPERTY

4

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SOLD COMP - 3385 Buford Drive

SOLD COMP - 3105 Peachtree Industrial Blvd.

SOLD COMP - 11725 Cotton Creek Entry

SUBJECT PROP - 1185 Research Ctr. Dr. Atlanta SW

Property Size 12,637 SFClosing Date 7/7/2015Sold Price $2,500,000Price/SF $197.83

Property Size 6,680 SFClosing Date 8/20/2015Sold Price $2,500,000Price/SF $374.25

Property Size 6,202 SFClosing Date 2/9/2015Sold Price $2,100,000Price/SF $338.60

Property Size 11,436 SFSale Price $1,675,000Price/SF $157.39

COMMENTS: This car wash was built in 2004 and spent 99 days on the market. It also has multiple tenants and is zoned AAO12.

COMMENTS: This car wash was built in 2002 and spent 114 days on the market. It also has single occupancy and is zoned C4.

COMMENTS: This car wash was built in 2000 and has single occupancy. It is zoned CUP.

COMMENTS: This car wash/service facility was built in 2005 and was recently renovated. It is fully occupied and zoned C2.

1

32

SOLD COMP - 675 Southside Commercial Pkwy.

Property Size 6,494 SFClosing Date 7/22/2015Sold Price $1,650,000Price/SF $254.08

COMMENTS: This car wash was built in 2002 and has single occupancy and is zoned GB.

4

S O L D C O M P A R A B L E S

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A B O U T T H E A R E A

L O C A T I O NA T L A N T A , G E O R G I A 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.”

Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest 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.

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B R O K E R P R O F I L E

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 com-mercial 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 Shop-ping 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 oper-ated 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 Chapman404-876-1640 x [email protected]

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DARRELL CHAPMAN V.P. National Industrial Group

AUBRI LIENEMANNMarketing

RICK LEWISMarketing

SCOTT JACKSONAnalyst

T E A M P R O F I L E

Darrell Chapman404-876-1640 x [email protected]

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

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 proper-ty referred to as 1185 Research Center Drive Atlanta SW, Atlanta, GA 30331. Prospect agrees to not disclose to any person that the proper-ty 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 expens-es, 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, partner-ship 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 con-tact 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. Receiv-ing 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 fore-closure, 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 LawThis 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 PartySignature ___________________________________________________

Printed Name _______________________________________________

Title ______________________________________________________

Company Name _____________________________________________

Address ____________________________________________________

___________________________________________________

Email _______________________________________________________

Phone ______________________________________________________

Fax _________________________________________________________

Darrel l Chapman404-876-1640 x [email protected]: 404-876-7073

50 Glenlake ParkwaySuite 600Atlanta, GA 30328