Offering Memorandum (L) -...

KW COMMERCIAL

30 Burton Hills Blvd

Nashville, TN 37215MEKEY [email protected]

The Barristers Building

OFFERING MEMORANDUM

PRESENTED BY:

NASHVILLE, TN

OFFERING MEMORANDUM

www.kwcommercial.com 2

KW COMMERCIAL

30 Burton Hills Blvd

Nashville, TN 37215

MEKEY [email protected]

Confidentiality & Disclaimer

OFFERING MEMORANDUM

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation orwarranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financialperformance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials orinformation provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct ofits own due diligence to determine these and other matters of significance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unlessotherwise agreed 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 all information and to conduct their own inspections and investigations including through appropriate thirdparty independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consultingappropriate independent professionals. KW Commercial makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KWCommercial does not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, including that used for financial modeling purposes, 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 be established 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 order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney.Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers,architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Nashville - Green Hills in compliance with all applicable fair housing and equalopportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors,omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent current or futureperformance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

PRESENTED BY:

NASHVILLE, TN

http://www.kwcommercial.com


PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

PROPERTY DESCRIPTION

PROPERTY DETAILS

AVAILABLE SPACES

COMPLETE HIGHLIGHTS

ADDITIONAL PHOTOS

1PROPERTY INFORMATIONTHE BARRISTERS BUILDING

OFFERING MEMORANDUM


PROPERTY HIGHLIGHTS

PROPERTY OVERVIEWNow available is the approximately 9,500 SF historic building located in Downtown Nashville'sbusiness district. We present a unique opportunity to own this Class B Office/Retail building thatprovides many avenues to a profitable investment.

Additional 20,000 SF (4 floors) can be developed upon existing structure!

Entire floor can converted to short term residential rentals

Roof was replaced in 2010

5 Gas fire places

Hardwood floors

Back of the property is formally known as Printer's Alley

Parking available in the garage near the building

Located in Nashville' s Central Business District

Across from Jeff Ruby's Steak house

Close proximity to the State Capitol building, Court Houses, Broadway,

Music City Center, hotels, etc.

Executive Summary

THE BARRISTERS BUILDING 1 | PROPERTY INFORMATION

Sale Price: $5,299,000

Lot Size: 0.1 Acres

Building Size: 9,483 SF

Year Built: 1927

Renovated: 1990

Zoning: DTC

Market: Nashville

Sub Market: Downtown

Cross Streets: Union St. & 4th Ave



PROPERTY DESCRIPTION

Now available is the approximately 9,500 SF historic building located in Downtown Nashville's businessdistrict. We present a unique opportunity to own this Class B Office/Retail building that provides manyavenues to a profitable investment.

LOCATION

Located on Union Street between 3rd and 4th Ave at the end of famed Printer's Alley

ZONING

CC/ DTC - Intended for high-intensity developments

Property Description




PROPERTY NAME: The Barristers Building

PROPERTY ADDRESS: 327-329 Union St.

Nashville, TN 37201

PROPERTY TYPE: Retail

APN:

GROSS LEASABLE AREA: SF

BUILDING CLASS:

ZONING: DTC

YEAR BUILT: 1927

NUMBER OF STORIES: 2

FOUNDATION:

WALLS:

ROOF:

Property Details



Lease Rate: $24.00 SF/YR (MG)

Lease Type: MG

Total Space 4,750 SF

Lease Term: 60 months


Available Spaces


SPACE SPACE USE LEASE RATE LEASE TYPE SIZE (SF) TERM

329 Union St. Nashville, TN 37201 Executive Suites $24.00 SF/YR Modified Gross 4,750 SF 60 months



Complete Highlights


PROPERTY HIGHLIGHTS

• Additional 20,000 SF (4 floors) can be developed upon existingstructure!

• Second floor can be converted to short term residential units(plans available)

• Roof was replaced in 2010

• 5 Gas fire places

• Hardwood floors

• Back of the property is formally known as Printer's Alley

• Parking available in the garage near the building

• Located in Nashville' s Central Business District

• Across from Jeff Ruby's Steak house

• Close proximity to the State Capitol building, Court Houses,Broadway, Music City Center, hotels, etc.



Additional Photos




LOCATION INFORMATION

2 | LOCATION INFORMATION

LOCATION MAPS

AERIAL MAP

2LOCATION INFORMATIONTHE BARRISTERS BUILDING

OFFERING MEMORANDUM


Location Maps

THE BARRISTERS BUILDING 2 | LOCATION INFORMATION



Aerial Map

THE BARRISTERS BUILDING 2 | LOCATION INFORMATION



FINANCIAL ANALYSIS

3 | FINANCIAL ANALYSIS

FINANCIAL SUMMARY

RENT ROLL

3FINANCIAL ANALYSISTHE BARRISTERS BUILDING

OFFERING MEMORANDUM


INVESTMENT OVERVIEW

Price $5,299,000Price per SF $558.79CAP Rate -Cash-on-Cash Return (yr 1) - %Total Return (yr 1) -Debt Coverage Ratio -

OPERATING DATA

Gross Scheduled Income $252,000Other IncomeTotal Scheduled Income $252,000Vacancy Cost -Gross Income (Current) $120,000Operating Expenses $42,000Net Operating Income (Scheduled 2018) $210,000Net Operating Income (Current) $78,000

FINANCING DATA

Down Payment -Loan Amount -Debt Service -Debt Service Monthly -Principal Reduction (yr 1) -

Financial Summary

THE BARRISTERS BUILDING 3 | FINANCIAL ANALYSIS


Rent Roll

THE BARRISTERS BUILDING 3 | FINANCIAL ANALYSIS

TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

MARKETRENT

ANNUALRENT

% OFGLA

PRICEPER SF/YR

Whit's Custard 2,150 8/22/2016 8/22/2026 $60,200 22.67 $28.00

Salon 2,269 8/22/2016 8/22/2026 $58,994 23.93 $26.00

Totals/Averages 4,419 $0 $119,194 $26.97




ADDITIONAL INFORMATION

4 | ADDITIONAL INFORMATION

SITE PLAN

4ADDITIONAL INFORMATIONTHE BARRISTERS BUILDING

OFFERING MEMORANDUM


Exhibit A

THE BARRISTERS BUILDING 4 | ADDITIONAL INFORMATION


Offering Memorandum (L) -...

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