MIXED USE DEVELOPMENT OPPORTUNITY€¦ · 2001 turnhaven drive holly springs, nc 27540 mixed use development opportunity
Post on 17-Oct-2020
2 Views
Preview:
Transcript
2001 TURNHAVEN DRIVEHOLLY SPRINGS, NC 27540
MIXED USE DEVELOPMENTOPPORTUNITY
The information contained in this Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party(ies) receiving it from Blue Sky Services Real Estate LLC and should not be made available to any other person or entity without the written consent of Blue Sky Services Real Estate LLC. If you are not the intended recipient, you are hereby notified that any retention, dissemination, duplication, forwarding, copying or taking any action in reliance on the contents of this information is strictly prohibited. If you receive this Offering Memorandum in error, whether in electronic or printed form, please notify the sender and destroy the document.
This Offering has been prepared to provide a summary of unverified information to prospective purchasers, and to establish only a prelimi-nary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation.
Blue Sky Services Real Estate LLC has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the prop-erty and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property.
The information contained in this Offering has been obtained from sources we believe are reliable; however, Blue Sky Services Real Estate LLC has not verified, and will not verify, any of the information contained herein, nor has Blue Sky Services Real Estate LLC con-ducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or com-pleteness of the information provided.
EXCLUSIVELY OFFERED BYBLUE SKY SERVICES REAL ESTATE, LLC
NIKITA ZHITOVPRINCIPAL/BIC919.412.9038 MNIKITA@BLUESKYSERVICES.COM
119 SW MAYNARD ROAD, SUITE 200CARY, NORTH CAROLINA 27511919.747.4901 O919.400.4349 F
WWW.BLUESKYSERVICES.COM
2001 TURNHAVEN DRIVEHOLLY SPRINGS, NC 27540
OFFERING SUMMARY
Blue Sky Services is pleased to present an outstanding Mixed Use Land Development Opportunity in Main Street Square, on NC-55 in Holly Springs, NC. Situated near the NC-55 and Avent Ferry Road intersection, this property offers a superb location surrounded by residential neighborhoods while close to shops, retail, commercial, recreation, employ-ment, major thoroughfares and much more. Located in a prime Holly Springs location with-in four miles I-540 Extension, this turn-key opportunity is pad ready with approved plans for an approximately 13,937 square foot building. As part of Raleigh MSA, the town of Holly Springs is one of the most desired communities in the area and consistently named the Safest Town in the United States. Proximate to NC’s Research Triangle Park (the premier employment center in the Triangle region of North Carolina and also one of the leading hubs for biotech and development in the state and Eastern part of USA). Holly Springs is minutes away from Raleigh, as well as within 10 miles of over 20 major colleges and universities, major interstates, employment centers and RDU International Airport.
PRICING:$475,000
LAND AREA:0.18 AC
PROPERTY ADDRESS:
2001 TURNHAVEN DRIVEHOLLY SPRINGS, NC
27540
PARCEL NUMBER:0372053
ZONING:PUD
TRAFFIC COUNTS:31,000 VPDON NC-55
AVENT FERRY RD
CONCEPTUAL TURN-KEYOPPORTUNITY
GROUND FLOOR RETAIL
(3) TWO-STORY LUXURY RESIDENCES
FULLY ENTITLED AND ENGINEERED
GRADING PERMIT READY
FRONT ELEVATION
0.18 AC NESTLED IN MAIN STREET SQUARE,
A MOST DESIREABLE WORK, LIVE & PLAY
COMMUNITY
(2) FLOORS OFFICE/RETAIL(2) FLOORS RESIDENTIAL
UP TO 13,937 SF BUILDING
0.18 AC NESTLED IN MAIN STREET SQUARE,
A MOST DESIREABLE WORK, LIVE & PLAY
COMMUNITY
(2) FLOORS OFFICE/RETAIL(2) FLOORS RESIDENTIAL
UP TO 13,937 SF BUILDING
REAR ELEVATION
CONCEPTUAL TURN-KEYOPPORTUNITY
GROUND FLOOR RETAIL
(3) TWO-STORY LUXURY RESIDENCES
FULLY ENTITLED AND ENGINEERED
GRADING PERMIT READY
BASEMENT FLOOR PLAN
AVAILABILITY:PERSONAL
AND/ORSERVICE USE
AND/OROFFICE SPACE
TOTAL SQUARE FOOTAGE:~ 3,369 SQ FT
PROJECTED NNN RENTS:
$19 PER SQ FT
AVAILABILITY:3 RETAIL BAYS
STREET RETAIL
EXCELLENTPEDESTRIAN
VISIBILITY
TOTAL SQUARE FOOTAGE:~ 2,942 SQ FT
PROJECTED NNN RENTS:
$33 PER SQ FT
GROUND FLOOR PLAN
SECOND FLOOR PLAN
AVAILABILITY:(3) TWO-STORY
LUXURY RESIDENCES
3-BEDROOMCORNER UNITS
PROJECTED RENT: $1,975~2,510 - 2,592 SQ FT
2-BEDROOMMIDDLE UNIT
PROJECTED RENT: $1,750~2,420 SQ FT
THIRD FLOOR PLAN
AVAILABILITY:(3) TWO-STORY
LUXURY RESIDENCES
3-BEDROOMCORNER UNITS
PROJECTED RENT: $1,975~2,510 - 2,592 SQ FT
2-BEDROOMMIDDLE UNIT
PROJECTED RENT: $1,750~2,420 SQ FT
PROJECTED RENT ROLL & NOI
Office UnitSize Rent(NNN) MonthlyRent AnnualRentBasement-01 1200sqft $19.00/sqft $1,900 22,800$Basement-02 949sqft $19.00/sqft $1,503 18,031$Basement-03 1220sqft $19.00/sqft $1,932 23,180$BasementRentTICAMReimbursement 3,369sqft $4.00/sqft $1,123 13,476$
Retail UnitSize Rent(NNN) MonthlyRent AnnualRentGroundFloor-01 1052sqft $33.00/sqft $2,893 34,716$GroundFloor-02 823sqft $33.00/sqft $2,263 27,159$GroundFloor-03 1067sqft $33.00/sqft $2,934 35,211$ReatilRentTICAMReimbursement 2,942sqft $4.00/sqft $981 11,768$
Residential UnitType AvgUnitSize RentalRate RentPerUnit MonthlyRent AnnualRentResidential-01 3BD/2.5BA 2,510sqft $658/bed $1,975 $1,975 23,700$Residential-02 2BD/2.5BA 2,420sqft $875/bed $1,750 $1,750 21,000$Residential-03 3BD/2.5BA 2,592sqft $658/bed $1,975 $1,975 23,700$
TotalResidentialUnits: 3TotalCommercialUnits 6
TotalGrossIncome 254,741$
Expenses MonthlyExpensesAnnualExpensesManagement 6.00% ofResidentialRentRoll $224 2,682$HOADues $1.00 persqft $1,161 13,937$Electric(commonareas) Site&BuildingLighting $100 1,200$TrashRemoval IncludedinHOADues $0 -$Landscaping IncludedinHOADues $0 -$Water&Sewer PaidbyTenants/SeperatelyMetered $0 -$Insurance Estimate $500 6,000$Taxes BasedonBuildingCost $2,167 26,005$
TotalExpenses 49,824$
EstimatedNetOperatingIncome 204,917$
*Disclaimer:TheFinancialProjectionscontainedhereinareestimatesoffutureeventsbasedonassumptionsthatmayormaynotoccur.
Preparersofthisdocumentdidnotindependentlyverifyaccuracyofthisinformaiton.
2001 TURNHAVEN DR - PROJECTED OPERATING EXPENSES
2001 TURNHAVEN DR - PROJECTED RENT ROLL & NOI
* DISCLAIMER: THE FINANCIAL PROJECTIONS CONTAINED HEREIN ARE ESTIMATES OF FUTURE EVENTS BASED ON ASSUMPTIONS THAT MAY OR MAY NOT OCCUR. PREPARERS OF THIS DOCUMENT DID NOT INDEPENDENTLY VERIFY ACCURACY OF THIS INFORMATION.
PROJECTED DEVELOPMENT BUDGET
Notes % Total TotalHard CostLand Purchase $60.58 per sqft 7841 sqft Developed Pad 19.13% $475,000Site Work (Grading, Utilities, Sidewalks) $6.38 per sqft 7841 sqft 2.01% $50,000Construction Cost (Stick Frame) $105.74 per sqft 13,937 sqft Per Osterland 59.36% $1,473,720Retail Tenant Upfit Allowance $40.00 per sqft 2,942 sqft 4.74% $117,680Office Tenant Upfit Allowance $40.00 per sqft 3,369 sqft 5.43% $134,760Appliance Package $2,500 Per Unit 3 units 0.30% $7,500Hard Cost Contingency 5.00% of Building Base Hard Cost 3.07% $76,186Total Hard Cost 94.05% $2,334,846
per SQFT $168
Soft CostCivil, Architectural, Structural, & PME $250,000 Paid / Included in Land Sale Price 0.00% $0Surveying Boundary, Topo, Alta, etc 0.20% $5,000Bank Inspections $500 per inspection Bi-Weekly 52 weeks 0.26% $6,500Construction Loan Interest 1/2 of Loan Outstanding during construction average $2,000,000 Loan Amount 2.01% $50,000Loan Fee / Origination 0.50% of Loan Amount 0.40% $10,000Bank Appraisal 0.14% $3,500Permits Estimate 0.00% $0Insurances General Liability 0.10% $2,500Real Estate Tax During Construction $223,068 Tax Value 1.0475% Tax Rate 0.09% $2,337Retail Leasing Commissions 6.00% Commission 5 year lease 1.17% $29,126Office Leasing Commissions 6.00% Commission 5 year lease 0.77% $19,203Marketing Costs Website, Banners, Google Ad Words, Promotions, etc 0.40% $10,000Accounting Fees 0.10% $2,500Soft Cost Contingency 5.00% of Soft Costs 0.28% $7,033Total Soft Costs 5.95% $147,699
Total Project Cost 100.00% $2,482,545per SQFT $178
EstimatedProjectCost 2,482,545$EstimatedCAPRateAtCost 8.25%EstimatedMarketCapRateforAssetType 5.25%ProjectedResaleValueofStabilizedAsset 3,903,187$ProjectEquity/ProjectedProfit 1,420,642$
*Disclaimer:TheFinancialProjectionscontainedhereinareestimatesoffutureeventsbasedonassumptionsthatmayormaynotoccur.Preparersofthisdocumentdidnotindependentlyverifyaccuracyofthisinformaiton.
2001 TURNHAVEN DR - PROJECT SUMMARY
MIXED-USEDEVELOPMENTPROFORMA2001 TURNHAVEN DR - PROJECTED DEVELOPMENT COSTS & USES OF FUNDS
* DISCLAIMER: THE FINANCIAL PROJECTIONS CONTAINED HEREIN ARE ESTIMATES OF FUTURE EVENTS BASED ON ASSUMPTIONS THAT MAY OR MAY NOT OCCUR. PREPARERS OF THIS DOCUMENT DID NOT INDEPENDENTLY VERIFY ACCURACY OF THIS INFORMATION.
Notes % Total TotalHard CostLand Purchase $60.58 per sqft 7841 sqft Developed Pad 19.13% $475,000Site Work (Grading, Utilities, Sidewalks) $6.38 per sqft 7841 sqft 2.01% $50,000Construction Cost (Stick Frame) $105.74 per sqft 13,937 sqft Per Osterland 59.36% $1,473,720Retail Tenant Upfit Allowance $40.00 per sqft 2,942 sqft 4.74% $117,680Office Tenant Upfit Allowance $40.00 per sqft 3,369 sqft 5.43% $134,760Appliance Package $2,500 Per Unit 3 units 0.30% $7,500Hard Cost Contingency 5.00% of Building Base Hard Cost 3.07% $76,186Total Hard Cost 94.05% $2,334,846
per SQFT $168
Soft CostCivil, Architectural, Structural, & PME $250,000 Paid / Included in Land Sale Price 0.00% $0Surveying Boundary, Topo, Alta, etc 0.20% $5,000Bank Inspections $500 per inspection Bi-Weekly 52 weeks 0.26% $6,500Construction Loan Interest 1/2 of Loan Outstanding during construction average $2,000,000 Loan Amount 2.01% $50,000Loan Fee / Origination 0.50% of Loan Amount 0.40% $10,000Bank Appraisal 0.14% $3,500Permits Estimate 0.00% $0Insurances General Liability 0.10% $2,500Real Estate Tax During Construction $223,068 Tax Value 1.0475% Tax Rate 0.09% $2,337Retail Leasing Commissions 6.00% Commission 5 year lease 1.17% $29,126Office Leasing Commissions 6.00% Commission 5 year lease 0.77% $19,203Marketing Costs Website, Banners, Google Ad Words, Promotions, etc 0.40% $10,000Accounting Fees 0.10% $2,500Soft Cost Contingency 5.00% of Soft Costs 0.28% $7,033Total Soft Costs 5.95% $147,699
Total Project Cost 100.00% $2,482,545per SQFT $178
EstimatedProjectCost 2,482,545$EstimatedCAPRateAtCost 8.25%EstimatedMarketCapRateforAssetType 5.25%ProjectedResaleValueofStabilizedAsset 3,903,187$ProjectEquity/ProjectedProfit 1,420,642$
*Disclaimer:TheFinancialProjectionscontainedhereinareestimatesoffutureeventsbasedonassumptionsthatmayormaynotoccur.Preparersofthisdocumentdidnotindependentlyverifyaccuracyofthisinformaiton.
2001 TURNHAVEN DR - PROJECT SUMMARY
MIXED-USEDEVELOPMENTPROFORMA2001 TURNHAVEN DR - PROJECTED DEVELOPMENT COSTS & USES OF FUNDS
AREA DEMOGRAPHICS
AREA DEMOGRAPHICS
2001 Turnhaven Dr, Holly Springs, NC 27540
Population 1 Mile 5 Mile3 Mile2018 Total Population: 6,881 84,39940,771
2023 Population: 7,772 94,55545,916Pop Growth 2018-2023: 12.95% 12.03%12.62%
Average Age: 34.70 35.6035.00Households2018 Total Households: 2,546 30,01014,294HH Growth 2018-2023: 13.32% 12.30%13.01%Median Household Inc: $83,094 $89,924$94,386
Avg Household Size: 2.70 2.802.902018 Avg HH Vehicles: 2.00 2.002.00
HousingMedian Home Value: $226,048 $272,606$267,003
Median Year Built: 2002 20022003
Population for 5 Mile Radius
Copyrighted report licensed to Blue Sky Services Real Estate - 646277.10/5/2018
POPULATION
Holly Springs 33,260 April 2016 est
Wake County 1,024,198 July 2015 est
2001 Turnhaven Drive
1 mile 3 miles 5 miles
Population 6,881 40,771 84,399
Employees 5,185 30,840 64,381
Average Age 34.70 35.00 35.60
% Employed 68.54% 68.12% 68.25
HOUSEHOLDS
1 mile 3 miles 5 miles
Total Households 2,546 14,294 30,010
Median HH Value $226,048 $267,003 $272,606
Average HH Income $102,312 $113,097 $107,531
• Among World’s 300 Largest Metropolitan Economies in 2014 - Brookings Institution, January 2015• #1 Among The U.S. Cities Attracting The Most Families (Raleigh MSA) - Forbes, Sept 2014• #3 Among Best Metro Areas for STEM (Science, Technology, Engineering & Math) Professionals - WalletHub, January 2015• #7 Among America’s Smartest Cities (Raleigh) - Forbes, November 2014• #1 Among The Best Places for Business and Careers - Forbes, July 2014
AREA ACCOLADESAN IDEAL LOCATION IN HOLLY SPRINGS, NC, CON-SISTENTLY RANKED ONE OF THE SAFEST TOWNS IN THE UNITED STATES. SHOPPING, RESTAURANTS AND ENTERTAINMENT ARE ALL WITHIN A SHORT WALK. HOLLY SPRINGS OFFERS THE URBAN APPEAL IN A SUBURBAN LOCATION.
MAIN STREET SQUARE
top related