Offering Memorandum - LoopNet...Georgia. This 9,000 SF building is leased by a national auto repair...

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Offering Memorandum AUTOMOTIVE INVESTMENT OPPORTUNITY | 7.9% CAP RATE

Transcript of Offering Memorandum - LoopNet...Georgia. This 9,000 SF building is leased by a national auto repair...

Page 1: Offering Memorandum - LoopNet...Georgia. This 9,000 SF building is leased by a national auto repair company, Precision Tune Auto Care and a sucessful local tire store, Tire Village.

Offering MemorandumAU TOMOT I V E I N V E STM E N TO P P O RT U N I T Y | 7. 9 % C A P R AT E

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D I S C L A I M E R 3E X E C U T I V E S U M M A R Y 4

P R O P E R T Y I N F O R M AT I O N 5R E TA I L E R M A P 6

L O C AT I O N M A P S 7A B O U T T H E A R E A 8

T E A M P R O F I L E 9C O N F I D E N T I A L I T Y A G R E E M E N T 10

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

Bull Realty, Inc.50 Glenlake Parkway, Suite 600Atlanta, GA 30328BullRealty.com

Jared DaleyV.P. Automotive [email protected] x111

Exclusively listed by Bull Realty, Inc.

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D I S C L A I M E RA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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 theinformation that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based uponassumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospectivepurchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available toqualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete oraccurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected toreview independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute arecommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospectivepurchaser 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 and/or to terminate discussions withany party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this OfferingMemorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered andapproved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves theright 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 Broker. The Property is privately offered, and by accepting this OfferingMemorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of aconfidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwisereproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to thisOffering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.

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Page 4: Offering Memorandum - LoopNet...Georgia. This 9,000 SF building is leased by a national auto repair company, Precision Tune Auto Care and a sucessful local tire store, Tire Village.

Bull Realty is pleased to offer this exceptional, fully leased, retail property in Riverdale,Georgia. This 9,000 SF building is leased by a national auto repair company, PrecisionTune Auto Care and a sucessful local tire store, Tire Village. Precision Tune Auto Care is apublicly traded, international auto repair company with a focus on customer service.

The current income of the property is $94,312 with a cap rate of 7.9%. Both tenants haveoccupied these spaces since 2011 and have both extended their leases throughSeptember 2021 and August 2023 respectively.

This property is located in a high-traffic corridor of Highway 85 with traffic counts ofover 48,000 vehicles daily, with a growing demographic base and a stable averagehousehold income of $52,545 within 1 mile from the property.

Please do not disturb the tenants or businesses.

SALE DESCRIPTION HIGHLIGHTS

• 9,000 SF automobile building in Riverdale, GA (Atlanta MSA)

• Situated on ± 0.65 acres

• Two-unit building with 100% occupancy

• Precision Tune and Tire Village - tenants since 2011 with 2 & 4 years remaining on

leases

• High traffic counts of 48,000 VPD on Highway 85

• Located in a dense retail corridor

• Offered at a 7.9% cap rate

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PRICE | $1,200,000

E X E C U T I V E S U M M A RYA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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Property Address: 6941 Hwy 85, Riverdale, GA 30274County: ClaytonBuilding Size: 9,000 SFSite Size: ± 0.65Zoning: CBYear Built: 1988Stories: 1Signage: Pylon SignParking: SurfaceOccupancy: 100%Traffic Count: 48,000 VPD on GA-85Proposed Use: AutomotiveTenants: 2Price/SF: $133.33NOI: $94,312Cap Rate: 7.9%Sale Price: $1,200,000

P R O P E R T Y I N F O R M AT I O NA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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R E TA I L E R M A PA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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L O C AT I O N M A P SA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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A B O U T T H E A R E AA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

RIVERDALE

Riverdale is located in the "Southern Crescent" of Clayton County,approximately 10 miles south of Atlanta. Riverdale's history wasfounded before the civil war as a farming and transportation hub andeven today the city is still tied to rail transit through the MARTAsystem. Riverdale is home to Southern Regional Medical center, a 331bed hospital serving the community since 1971 and one of the topemployers in Clayton County.

The city of Riverdale lies quickly accessible to three major interstates:I-285, I-85, I-75. Its strategic location makes it a great commuter cityand accessible to many surrounding areas. The city is only 5 milessouth of Atlanta's Hartsfield-Jackson International Airport, the world'sbusiest airport by volume. Many employees who support the airportreside within Riverdale's city limits.

Riverdale has a population of over 14,000 and is the second largestcity of population in Clayton County. The city is governed by a mayorand 4 council members. Each council member represents the entirecity and are elected at-large, through they hail from one of the fourwards that divide the city. The mayor and council appoint a citymanager, who has oversight over 5 departments.

Source: RiverdaleGA.Gov

Page 9: Offering Memorandum - LoopNet...Georgia. This 9,000 SF building is leased by a national auto repair company, Precision Tune Auto Care and a sucessful local tire store, Tire Village.

T E A M P R O F I L EA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E

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Jared DaleyV.P. Automotive [email protected] x111

Kaley RichardMarketing

Scott JacksonAnalyst

Michael BullBroker

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Jared Daley404-876-1640 [email protected]

Bull Realty, Inc.50 Glenlake Parkway, Suite 600Atlanta, GA 30328

This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of theundersigned party (“Receiving Party”), the owner of the subject property (the “Seller”) andundersigned broker Bull Realty Incorporated (“Broker”). Now therefore in consideration of theprivileges 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 property referred to as 6941 Hwy85. Prospect agrees to not disclose to any person that the property may be available for sale orlease, or that discussions or negotiations are taking place concerning the property, nor anyterms, conditions, or other facts with respect to the property, including but not limited to tenantinformation, lease rates, lease expirations, income and expenses, and any such possiblepurchase, including the status thereof. The term “person” used in this agreement shall beinterpreted broadly and shall include, without limitation, any corporation, company, partnershipor individual other than parties to which Broker approves in writing. Receiving Party may shareinformation with directors, officers, employees, agents, affiliates, counsel, lending sources,accountants or representatives of Receiving Party that Receiving Party notifies of therequirements of this Agreement. Receiving Party agrees to not contact the property owner, themanagement, the tenants, the lender, the vendors, the insurers, the employees or the customersof 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. Receiving Party acknowledges that Broker is workingan agency capacity as representing the Seller only in this transaction and is the only Brokerinvolved in this potential transaction. Receiving Party agrees to not be involved in anyarrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer ofthe note, buy in foreclosure, buy from bankruptcy court, or in any other manner acquire aninvestment in, joint venture or control of the property, unless Bull Realty, Incorporated is paid acommission 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 ofGeorgia.

If you are a broker, or a principal desiring to include an outside broker, contact the listing agentdirectly for a Buyer and Buyer’s Broker Confidentiality & Commission Agreement.

Accepted and agreed to __ / __ / __

Receiving Party

Signature

Printed Name

Title

Company Name

Address

Email

Phone

Fax

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C O N F I D E N T I A L I T Y AG R E E M E N TA U T O M O T I V E I N V E S T M E N T O P P O R T U N I T Y | 7 . 9 % C A P R A T E