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www.FlagshipHP.com
OFFERING MEMORANDUMPIEDMONT HEALTHCARE
1804 Davie Avenue | Statesville, NC 28677
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CONTENTS
Confidentiality Agreement
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3
Executive Summary
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4 - 5
Location
Overview.......................................................................................................................................................
6
Property
Summary.......................................................................................................................................................
7
Lease
Summary............................................................................................................................................................
8
Tenant
Overview...................................................................................................................................................
9 - 12
Area
Overview............................................................................................................................................................
13
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CONFIDENTIALITY AGREEMENTTHIS INFORMATION HAS BEEN PREPARED BY
FLAGSHIP HEALTHCARE PROPERTIES (“FHP”) AND RELATED PARTIES (THE
“FLAGSHIP GROUP” OR THE “SPONSOR”). THE INFORMATION IS CONFIDENTIAL
AND PROPRIETARY AND IT IS BEING SUBMITTED TO YOU SOLELY FOR
DISCUSSION PURPOSES, WITH THE EXPRESS UNDERSTANDING AND AGREEMENT
THAT, WITHOUT PRIOR WRITTEN PERMISSION OF FLAGSHIP, YOU WILL NOT
RELEASE IT TO OR DISCUSS THE INFORMATION CONTAINED HEREIN WITH, ANY
PERSON OTHER THAN PERSONS AUTHORIZED BY THE SPONSORS, NOR WILL YOU
USE IT FOR ANY PURPOSE OTHER THAN EVALUATING A POTENTIAL INVESTMENT
IN THE PROPERTY.
IN MAKING A DECISION REGARDING AN INVESTMENT OR LOAN, YOU MUST
RELY ON YOUR OWN EXAMINATION OF THE PROPERTY AND THE SPONSORS,
INCLUDING THE MERITS AND RISKS INVOLVED. THIS INFORMATION HAS BEEN
PREPARED FOR INFORMATIONAL PURPOSES.
THIS INFORMATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS,
ESTIMATES AND PROJECTIONS CONCERNING AN INVESTMENT IN THE PROPERTY
AND OTHER MATTERS. SUCH FORWARD-LOOKING STATEMENTS, ESTIMATES AND
PROJECTIONS REFLECT THE SPONSOR’S CURRENT ASSUMPTIONS AND
JUDGEMENTS CONCERNING FUTURE EVENTS OR TRENDS, AND THE ACTUAL
RESULTS OF THE PROPERTY MAY DIFFER MATERIALLY FROM THOSE EXPRESSED
OR IMPLIED IN SUCH FORWARD-LOOKING INFORMATION FOR A VARIETY OF
REASONS. ALTHOUGH THE SPONSOR AND THE PROPERTY BELIEVE THAT THE
ASSUMPTIONS AND JUDGEMENTS UNDERLYING THE FORWARD-LOOKING
STATEMENTS, ESTIMATES AND PROJECTIONS CONTAINED IN THE INFORMATION
ARE REASONABLE, ANY OF SUCH ASSUMPTIONS OR JUDGEMENTS COULD PROVE
TO BE INACCURATE OR INCORRECT, AND THE INCLUSION OF SUCH
FORWARD-LOOKING STATEMENTS SHOULD NOT BE REGARDED AS, AND SHALL NOT
CONSTITUTE, A REPRESENTATION OR ASSURANCE THAT ANY PROJECTED
RESUTLS WILL BE ACHIEVED.
No representation, warranty, or undertaking, expressed or
implied, is or will be made or given and no responsibility or
liability is or will be accepted by the Flagship Group, the REIT,
the Advisors, or by any of their directors, officers, employees,
agents or advisors in relation to the accuracy or completeness of
this or any other written or oral information made available in
connection with the evaluation of such investment. In addition,
neither the Sponsor, the Advisors, or by any of their directors,
officers, employees, agents or advisors has any obligation to
update or correct any information contained herein.
The information contained herein does not constitute an offer to
sell securities in the United States or any other jurisdiction.
The Property is not a complete investment program. Rather, it is
intended as a strategy for investment of a relatively small portion
of an investor’s assets. The Property may be deemed to be a
speculative investment. Interest in the Property are available only
to sophisticated persons who have experience in financial and
business matters, have sufficient available assets, and understand
and can bear the investment risks of the Property, including, but
not limited to, the risk that an investor could lose some or all of
its investment.
The information herein is not intended to provide, and should
not be relied upon for, accounting, legal or tax advice or
investment recommendations. You should make an independent
investigation of the investment described herein, including
consulting your tax, legal, accounting or other advisors about the
matters discussed herein. There can be no assurance that the
investment objectives of the Property will be achieved. No
guarantee or representation is made that the Sponsor’s investment
programs, including without limitation, their investment
objectives, diversification strategies, or risk monitoring goals,
will be successful, and investment results may vary substantially
over time. Nothing herein is intended to imply that the Sponsor’s
investment methodologies may be considered “conservative”, “safe”,
“risk free” or “risk averse”. Economic, market, and other
considerations could also cause the Sponsor to alter its investment
objectives, guidelines, and restrictions. In addition, there will
be leverage in the Property which can make performance
volatile.
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INVESTMENT SUMMARY
THE INVESTMENT
Piedmont Heathcare’s Women’s Center is a 6,816 SF specialty
building located at 1804 Davie Avenue in Statesville, North
Carolina. The Building was built in 1993.
The Physician owned Real Estate will be 100% leased to the
practice and they will be signing a 7 year NN lease at closing with
$18.80/SF rents. As this is a single tenant building, there is no
available vacant space.
The single tenant, Piedmont Healthcare’s Women’s Center, is a
strong, independent provider. Within this Property, The Women’s
Center offers in-office procedures, obstetrics and gynocology.
Piedmont Healthcare has served the Statesville area and
surrounding communities since its inception in 1996. They have been
able to expand their available services to meet a wide range of
needs including, but not limited to, ancillary, audiology,
bariatric surgery, cardiology, dermatology, endocrinology, and
family medicine
INVESTMENT HIGHLIGHTS
100%100%LEASEDLEASED
MODIFIEDMODIFIED
LEASELEASE
6,8166,816SQUARE FEETSQUARE FEET
$18.80$18.80SQUARE FOOTSQUARE FOOT
NETNET
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BUILDING SPECIFICATIONSLocation:1804 Davie Avenue | Statesville,
NC 28677
Occupancy:100%
Building Size:± 6,816 SF
Lot Size 1.22 Acres
StoriesOne and one half (1.5) Stories
Tax Parcel ID:4745713315.000
County:Iredell
Year Built:1993
Parking Ratio:7.04/1,000 SF ( 48 Total Parking Spaces)
Zoning:O-I (Office and Institutional)
Sales Price$1,800,000
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LEASE ANALYSIS
LEASE RATE:$18.80/SF
LANDLORD RESPONSIBILITIES:• 2019 Real Estate Taxes: $13,000•
Insurance
TENANT RESPONSIBILITIES:• Utilities
Begin Date: At Closing
End Date: 7 Years From Closing
Term: 7 Years
Total Rentable Area: 6,816 SF
Lease Rate: $18.80/SF
Annualy Rent Escalation: 2%
The Physician owned Real Estate will be 100% leased to the
practice and they will be signing a 7 year NN lease at closing with
$18.80/SF rents. As this is a single tenant building, there is no
available vacant space.
The single tenant, Piedmont Healthcare’s Women’s Center, is a
strong, independent provider. Within this Property, The Women’s
Center offers in-office procedures, obstetrics and gynocology.
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REGIONAL AERIAL
Raleigh STATESVILLESTATESVILLE
Charlotte
NC
SC
GA AL
FL
TN
WV VA
KY
OH IN
MI
PA
NY
ME
STATESVILLE NORTH CAROLINA
EASTERN U.S.
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BUSINESS AERIAL11/14/2019 1804 Davie Ave - Google Maps
https://www.google.com/maps/place/1804+Davie+Ave,+Statesville,+NC+28677/@35.7967464,-80.783056,5069a,35y,275.33h,51.69t/data=!3m1!1e3!4m5!3m4!1s0x8851591a3e540f57:0xa6e1fda3a94a…
1/4
Imagery ©2019 Google, Imagery ©2019 Landsat / Copernicus, Maxar
Technologies, Orbis Inc, USDA Farm Service Agency, Map data ©2019
2000 ft
1804 Davie Ave
PROPERTYPROPERTY
1
4
3
2
1 Signal Hills Mall2 Food Lion3 Starbucks4 Planet Fitness5
BI-LO
6 Piedmont Healthcare Comprehensive Digestive Care Center7
FrizBrew Brewery Taps8 Crossroads Shopping Center
5
6
7
89 10
9 Tractor Supply Co.10 Doosan Portable Power11 Wal-Mart
Supercenter12 Lowe’s Home Improvement13 North Carolina DMV14
Cloverleaf Elementary School15 Engage2Excel16 Piedmont Healthcare
Pediatrics17 Davis Regional Medical Center
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1213
14
15
16 17
18
19
20
18
18 Manheim Statesville19 East Iredell Elementary School20 Twin
Oaks Golf Course21 Statesville County Club22 Statesville Park and
Soccer Complex
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LEASE SUMMARY
9
Tenant Piedmont Healthcare Women’s CenterLease Commencement At
Closing
Lease Expiration Seven (7) Years From ClosingOptions NoneSize
(SF) 6,816 SF
Occupancy 100%Base Rent (Annual) $128,141
Base Rent (PSF) $18.80Escalation 2% Annually
Lease Type NN
$18.80 Initial Base Rent
(PSF)
6,816 SFBuilding Rentable Square Footage
7 YearsLease Term
2%Annual Escalations
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PROPERTY PHOTOS
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TENANT OVERVIEW
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COMPANY
WEBSITE:https://piedmonthealthcare.com/location/phc-womens-center/
In-Office Procedures: Endometrial Ablation Birth Control
Sterilization Infertility Ultrasound Colposcopy Preventive Care
Obstetrical Care In-Office Hysteroscopy Incontinence Surgery TVT-O
Laparoscopic Hysterectomy Preconception Counseling Menopausal
Management Minimally Invasive Surgery Options Endometrial Biopsy
Genetic/Hereditary Cancer ScreeningsCoolsculpting
Obstetrics: Obstetrical Care Infertility Birth Control
Ultrasound Preconception CounselingHydrotherapy
Gynecology: Abnormal Pap Endometrial Ablation Essure Mammograms
Loop Electrosurgical Excision Procedure (LEEP) NEXPLANON™ Urinary
Incontinence
PIEDMONT HEALTHCARE WOMEN’S CENTER SPECIALTIES:
ABOUTPiedmont HealthCare is one of the largest physician-owned
multi-specialty groups in North Carolina and the Southeast. They
are committed to providing excellent care for the whole family.
They have more than 60 convenient locations and nearly 200
physicians and providers across multiple specialties to provide the
most innovative medical care for our community.
Piedmont HealthCare’s physicians are committed to providing
excellent and innovative medical care and services. Patients have
access to the latest in medical tests and procedures including
x-ray, 2D and 3D Mammography, CT, MRI, ultrasound and in-house
laboratories. If you want quality health care close to home, then
Piedmont HealthCare is the answer for you.
60 LOCATIONS
200 PROVIDERS
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MARKET OVERVIEW
Population Growth
Major Industries
ASSISTANCEASSISTANCEHEALTHCAREHEALTHCARE AND SOCIALAND SOCIAL
RETAILRETAILTRADETRADE
2.6 Average Household Size
178,435Total Population
$59,341Median Household Income
2019 Iredell County Demographics Top 20 Employers (Iredell
County)1 Lowe’s Companies Inc. 4,000
2 Iredell - Statesville Schools 2,900
3 Iredell Memorial Hospital 1,448
4 Iredell County 1,330
5 Lake Norman Regional Medical Center 775
6 Mooresville Graded School District 765
7 NGK Ceramics USA 700
8 Davis Regional Medical Center 500
9 Kewaunee Scientific Corporation 500
10 Doosan Infracore Portable Power 500
11 Town of Mooresville 489
12 Engineered Sintered Components 460
13 City of Statesville 425
14 Team Penske 400
15 ASMO North Carolina, Inc. 400
16 Piedmont HealthCare 389
17 Pactiv LLC 360
18 Manheim Statesville 350
19 Mitchell Community College 314
20 Engage2Excel 265
ACCOMODATIONACCOMODATIONAND FOODAND
FOODSERVICESERVICEMANUFACTURINGMANUFACTURING
ADVANCEDADVANCED
2019
2024
185,
276
200,
756
185,
276
200,
756
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2701 Coltsgate Road, Suite 300 Charlotte, North Carolina 28211P.
704-442-0222 | F. 704-367-0196 | www.FlagshipHP.com©2019 Flagship
Healthcare Properties, LLC. All rights reserved. Information
contained herein is from sources deemed reliable; however, no
representation or warranty is made to the accuracy thereof.
CONTACTS
B. Reed GriffithPartner & Executive Vice President, Leasing
& BrokerageD. [email protected]
Cliff BerrymanVice President, AcqusitionsD.
[email protected]
ABOUT FLAGSHIP HEALTHCARE PROPERTIES, LLCFlagship Healthcare
Properties, LLC is a fully integrated commercial real estate firm
committed to healthcare. Flagship provides its clients a full range
of real estate services including investment and capital solutions;
development; property sales, leasing and marketing; and facilities,
property and asset management. Flagship operates an integrated
platform, having developed over 1.7 million square feet, and
currently man-ages more than 3.6 million square feet of healthcare
real estate encompassing more than 130 properties. Flagship serves
as the manager of its private REIT, Flagship Healthcare Trust, Inc.
For further information, visit www.FlagshipHP.com
