OFFERING MEMORANDUM TURNKEY EDGEWOOD AVE RESTAURANT & BAR AVAILABLE FOR SALE OR LEASE TABLE OF CONTENTS

Andy Lundsberg PROPERTY INFORMATION 3 Partner, Bull Realty 4 [email protected] EXECUTIVE SUMMARY 404-876-1640 x107 INVESTMENT HIGHLIGHTS 5 PROPERTY INFORMATION 6 Michael Wess, CCIM PHOTOS 7 Partner, Bull Realty SALE COMPS 9 [email protected] 404-876-1640 x150 AREA OVERVIEW 10

AREA MAPS 11 Bull Realty, Inc. IN THE AREA 14 50 Glenlake Parkway, Suite 600 ABOUT THE AREA 15 , GA 30328 UPCOMING DEVELOPMENTS 16 BullRealty.com OPPORTUNITY ZONE 17 ATLANTA 18 ATLANTA TOP EMPLOYERS 19 CONTACT INFORMATION 20

BROKER PROFILES 21 DISCLAIMER 22

Exclusively listed by Bull Realty, Inc. Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 2 of 23 PROPERTY INFORMATION

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease|Page3 of 23 EXECUTIVE SUMMARY

LIMITED-SUPPLY EDGEWOOD AVE RESTAURANT 330 Edgewood Ave SE provides restaurateurs the opportunity to enter the limited-supply restaurant and bar district, located just minutes from , State University and the Eastside BeltLine Trail.

This 6,300 SF former church underwent an extensive 3-year renovation (completed in 2019) into a turn-key restaurant and bar that integrates well into the Edgewood Ave restaurant and bar district. The property has a massive outdoor patio plus good off-street parking and an unloading area.

Located in Atlanta’s district on Edgewood Avenue, the building is ideal for one looking to take advantage of the visibility and foot traffic of one of Atlanta’s most essential nightlife destinations. Marked by iconic bars and inspired art, Edgewood Avenue has become one of the most trendsetting corners in Atlanta.

Sale Price | $2,350,000 Lease Rate | $13,000/Month NNN

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 4 of 23 INVESTMENT HIGHLIGHTS

THE ASSET • 6,300 SF turn-key restaurant

• Massive patio plus gated off-street parking and supply drop-off area

• Former church recently renovated (2019) into full-service restaurant and bar on Edgewood Avenue’s retail district

• Parking Spaces: ~17

PRIME INTOWN LOCATION • Corner parcel with excellent visibility and exposure

• Minutes from Downtown Atlanta, and the East-side BeltLine Trail

• Easy access to I-85 & I-20

• Located on the Atlanta MARTA trolley line

• Frontage: 127’ on Edgewood Ave and 89’ on Hilliard St NE

DEVELOPING AREA • Located within a Qualified Opportunity Zone

• $70 million mixed-use community, “Waldo’s ,” will include residences, retail, office space and 125-key hotel nearby

• Neighborhood is demonstrating 2.31% annual growth rate within 1-mile of subject property

• The - one of MARTA's newest transportation developments has a stop right next to 330 Edgewood and connects the Martin Luther King Jr. National Historic Site to the east and the area to the west, with 10 other stops in between

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 5 of 23 PROPERTY INFORMATION

PROPERTY

Property Address: 330 Edgewood Avenue, Atlanta, GA 30312 County: Fulton Building Size: 6,300 SF Site Size: 0.24 Acres Zoning: HC-20C-SA4 (MLK Jr. Landmark District) Year Built: 1978 Year Renovated: 2019 Lease Rate: $13,000/Month NNN Sale Price: $2,350,000

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 6 of 23 INTERIOR PHOTOS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 7 of 23 EXTERIOR PHOTOS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 8 of 23 SALE COMPS

Subject Property

SUBJECT PROPERTY ADDRESS CITY ASKING PRICE BUILDING SIZE PRICE/SF SITE SIZE SOLD DATE NOTE

330 Edgewood Avenue Atlanta $2,350,000 6,300 SF $373 0.24 AC - -

SALES COMPS ADDRESS CITY SALE PRICE BUILDING SIZE PRICE PSF SITE SIZE SOLD DATE NOTE

1 488 Edgewood Avenue Atlanta $1,525,000 3,500 SF $435 0.11 AC 06/17/2020 Office/retail

2 479 Edgewood Avenue Atlanta $1,100,000 - - 0.13 AC 08/13/2019 Land sale

3 467 Edgewood Avenue Atlanta $1,295,000 3,800 SF $340 0.03 AC 06/04/2018 Bar + office upstairs

4 489 Edgewood Avenue Atlanta Under Contract 3,375 SF >$440 0.05 AC Pending Retail

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 9 of 23 ABOUT THE AREA

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease|Page10 of 23 AREA MAPS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 11 of 23 AREA MAPS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 12 of 23 AREA MAPS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 13 of 23 IN THE AREA

PONCE CITY MARKET 1 4 is a mixed-use development Piedmont Park is a 211-acre park located in located in a historic building in Atlanta, with Midtown. It draws more than 3 million annual national and local retail anchors, restaurants, a visitors who enjoy the park’s many amenities food hall, boutiques and offices, and residential including fitness areas, walking trails, dog park, units. It is located where the BeltLine crosses Ponce farmer’s market and green space. The park also de Leon Avenue in the Old Fourth Ward where that hosts many annual events and music festivals neighborhood touches the Virginia Highland, that bring visitors from all over the country. Poncey Highland and Midtown neighborhoods.

KROG STREET MARKET MERCEDES-BENZ STADIUM 2 5 is a 9-acre mixed-use Mercedes-Benz Stadium serves as the home of the development located along the Atlanta BeltLine in (NFL) and Atlanta United (MLS). . The complex is a 12,000 SF west-coast Along with concerts previously held at the Georgia style marketplace complete with restaurants and Dome, new marquee events that could be hosted 300 apartments. here in the future. Mercedes-Benz stadium has a capacity of 71,000 seats and the total cost is estimated at $1.4 billion.

ATLANTA BELTLINE SUMMERHILL DEVELOPMENT 3 6 The Atlanta BeltLine is a sustainable One of Atlanta’s oldest neighborhoods covering 19 redevelopment project that provides a network of blocks between Grant Park, I-20 and 75/85, public parks, multi-use trails and transit along a Summerhill's current redevelopment will preserve historic 22-mile railroad corridor circling downtown Atlanta’s collective past and reconnect adjacent and connecting many neighborhoods directly to historic neighborhoods. Proposals include student each other. housing and local businesses, designed to be walkable/bikeable, as well as combine and enhance business with community.

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 14 of 23 ABOUT THE AREA

SWEET AUBURN DISTRICT AREA HIGHLIGHTS Located just east of Downtown Atlanta, the Sweet Auburn district is steeped in history. Famously the birthplace of civil rights pioneer Dr. Martin Luther King Jr., Sweet Auburn is the best place on Earth to • Dr. Martin Luther King's birth home connect with his enduring legacy. Not only does the Martin Luther King Jr. National Historic Site engage • Edgewood's Avenue's hip bar and nightlife visitors with an interactive center that explores King’s extensive legacy, in Sweet Auburn, you can even tour scene King’s birth home, as well as ; the burial sites of King and his wife, Coretta Scott King; and the International Walk of Fame - an interactive memorial made of shoe prints from influential • The Atlanta Streetcar runs through the area civil rights activists. • The entire area is a national historic landmark with many museums and churches NATIONAL HISTORIC LANDMARK • Krog Street Market is minutes away Designated a National Historic Landmark in 1976, Sweet Auburn is experiencing a major upswing, investing in connectivity-boosting initiatives like the Atlanta Streetcar, which runs from the King Center to downtown’s Centennial Olympic Park. The annual Sweet Auburn Festival celebrates the past and the future of this neighborhood, attracting thousands of visitors annually. has become a fun anchor for the neighborhood, providing a bustling and varied lunch option for nearby workers. Originally opened in 1918 and filled with a rich history of its own, the market has something for every palate, offering fresh produce, meats and dairy from local and organic farms, as well as the wares of artisan shops and eateries.

* Source: http://www.atlanta.net/explore/neighborhoods/eastside/sweet-auburn/

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 15 of 23 UPCOMING DEVELOPMENTS

HOTEL DEVELOPMENT In the coming months, a high-end hotel is slated to ascend just feet away from Edgewood Avenue’s bustling bar scene.

At the corner of Edgewood and , a small mixed-use community called Waldo’s Old Fourth Ward is projected to bring 200,000 SF of new development to the high-traffic neighborhood.

Developer Lucror Resources and investor Sixty West Funds recently announced the project will include the ’ first Motto by Hilton hotel, which would be comprised of 125 rooms just down the street from Martin Luther King Jr.’s birth home.

The $80 million complex, designed by Atlanta-based architecture firm tvsdesign, is also expected to host townhomes, about 10,000 SF of restaurants and retail, and a “heavy timber construction” office building. Waldo's Old Fourth Ward Rendering EXPANDING RETAIL The past decade has seen Edgewood Avenue morph from a sleepier east-west corridor dotted with vacancies to a bona fide nightlife destination, home to establishments such as Joystick, Cafe Circa, the original Church Bar, Georgia Beer Garden, and Noni’s, with its popular DJ nights and mean lasagna bolognese.

A partnership of national real estate companies is working to accelerate Edgewood Avenue’s food and nightlife cachet—and to establish more attractions farther east.

Asana Partners and SRS Real Estate Partners are teaming to bring a brewery, expanded pizza restaurant, new neighborhood watering hole, and possible new uses for a large loft-office building near the Atlanta BeltLine. This new development is expected to open in early 2020.

Big Staff Brewing Company Rendering

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 16 of 23 OPPORTUNITY ZONE

OPPORTUNITY ZONE OVERVIEW Qualified Opportunity Zone (QOZ) Investment: A QOZ investment allows for the reduction of deferred gains from the sale or exchange of prior investments.

QOZ investments maintained for at least five years by the end of 2026 will qualify for a 10% reduction of deferred capital gains tax liability (for the original capital gain).

If the gain has been invested in an opportunity fund for seven years by the end of 2026, the tax liability on the original gain is reduced by 15%.

BENEFITS TO TENANTS Investors in Qualified Opportunity Funds can achieve significant tax benefits for equity investments, including tax deferral and permanent tax reduction.

To remain certified as a Qualified Opportunity Fund, the Fund must hold at least 90% of its assets in Qualified Opportunity Zone property. Such property includes certain stock or partnership interests of the underlying business, and/or business property (personal and/or real property) of a Qualified Opportunity Zone business.

LEARN MORE HERE • Qualified Opportunity Funds

• U.S. Department of the Treasury Releases Proposed Regulations on Opportunity Zones

• U.S. Department of the Treasury: (CDFI) Opportunity Zones Resources

• IRS Revenue Procedure - PDF

• Tax Cuts and Jobs Act - PDF

• Enterprise Community (Choosing Opportunity Zones)

• Commercial Real Estate Show - Opportunity Zones Overview

• CohnReznick Tax Advisory 17 of 23 *Disclaimer: Consult tax adviser as it relates to benefits. Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page ATLANTA

BUSINESS-FRIENDLY CITY Atlanta, the capital and most populous city in Georgia, is the ninth-largest metro in the United States with over 5.9 million residents. It prides itself on its low business costs, tax-friendly environment, diverse economy and suburb quality of life. Encompassing a GDP over $270 billion, the Atlanta metropolitan area is a true “world city.”

HOME TO FORTUNE 500 COMPANIES #1 Most-Traveled Airport in $270 Billion GDP in Atlanta has the third-highest concentration of Fortune 500 headquarters in the U.S., and over 75% of the the World Metro-Atlanta Fortune 1000 conduct business in the Atlanta Metropolitan Area. 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.

CONTINUOUS ECONOMIC DEVELOPMENT The city’s continuous growth is expected to continue with recently executed or announced corporate relocations such as UPS, Mercedes-Benz, NCR, Honeywell, and General Electric. Atlanta has also become a mega center for movie production due to tax credits implemented in 2008.

17 Fortune 500 HQ in Top U.S. Metro with #1 Lowest WORLD-CLASS EDUCATION Atlanta Cost of Doing Business Atlanta houses several of the top higher education institutions in the United States including Georgia Institute of Technology, , Georgia State University and Kennesaw State University. Georgia Tech’s Technology Square is ATTRACTIONS AND TOURISM a R&D incubator for over 100 companies and is “one of the Attractions in Atlanta include the largest aquarium in the western hemisphere, the CNN Center, the Fox incubators changing the world.” Theater, the King Center and the new $1.5 billion home of the Atlanta Falcons football franchise, -Forbes 2010 & 2013 Mercedes-Benz Stadium. Hartsfield-Jackson Atlanta International Airport is the world’s busiest airport, making the city a hub for business and tourism travelers alike.

#4 Metro Area for Largest Increase in Population, 2015-2016 -U.S. Census Bureau Population Division

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 18 of 23 ATLANTA TOP EMPLOYERS

TOP EMPLOYERS

EDUCATION MAJOR ATTRACTIONS

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 19 of 23 CONTACT INFORMATION

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease|Page20 of 23 BROKER PROFILES

PROFESSIONAL BACKGROUND Andy Lundsberg has over 20 years of sales, marketing and commercial real estate experience. He specializes in the acquisition and disposition of multifamily and boutique retail/office type properties throughout metro-Atlanta. Andy Lundsberg is recognized as the top producer at Bull Realty for the last 6 years in a row with gross sales close to $200 million over the last three years, and has consistently achieved the Atlanta Commercial Board of Realtors Million Dollar Club designation year after year.

Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing, Coca Cola as a business development manager and was head of on-site sales and marketing for a condominium project with a large residential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help you determine the right investment for you; whether you are looking to buy, lease or sell commercial real estate.

Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing, ANDY LUNDSBERG Management and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish. Partner, Bull Realty 404-876-1640 x107 Organizations: National Association of Realtors-Georgia [email protected] Atlanta Commercial Board of Realtors Young Council of Realtors (YCR) Million Dollar Club (2008 - Present)

PROFESSIONAL BACKGROUND Michael Wess’ passion for the consultation and sale of commercial real estate began during his undergraduate studies at the University of Georgia. He earned a 4.0 GPA at the Terry College of Business’s real estate program, consistently ranked in the top five nationally. While there, Michael also received two other degrees in finance and international business and a minor in Spanish while participating on UGA’s rugby team and various philanthropic organizations.

Michael joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptional results. In 2018 alone, Michael closed 23 transactions valued at over $25,000,000, which landed him #3 of 32 brokers at the firm. Since 2018, he has recorded eight ‘highest price ever’ record sales. In 2019, Michael Wess and Andy Lundsberg teamed up and sold over $65,000,000 through 34 transactions combined culminating in a Partnership offer from the firm. MICHAEL WESS, CCIM Partner, Bull Realty Michael continuously attends seminars, conferences, and classes to improve his knowledge of real estate, finance, and economics. He is a 404-876-1640 x150 pinned designee of the prestigious Certified Commercial Investment Member (CCIM) Institute, commercial real estate’s global standard for professional achievement and is an active member of the Atlanta Commercial Board of Realtors (ACBR). [email protected]

Michael is also a ‘big brother’ in the Big Brothers Big Sisters organization. He enjoys spending time with family and friends exploring the neighborhoods in and around Atlanta.

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 21 of 23 DISCLAIMER

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 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 Offering 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 Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, suitability 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 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 Offering Memorandum or making an offer on 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 Owner/Seller reserves the right 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 Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.

Turnkey Edgewood Ave Restaurant & Bar | For Sale or For Lease | Page 22 of 23 TO SCHEDULE A PROPERTY VISIT OR TO DISCUSS THE OPPORTUNITY PLEASE CONTACT:

ANDY LUNDSBERG MICHAEL WESS, CCIM Partner, Bull Realty Partner, Bull Realty [email protected] [email protected] 404-876-1640 x107 404-876-1640 x150

Please do not visit site without an appointment. Please do not disturb management or tenants.

2020 Bull Realty, Inc. All rights reserved. Information contained herein may have been provided by the seller, landlord or other outside sources. While deemed reliable, it may be estimated, projected, limited in scope and is subject to change or inaccuracies. Pertinent information should be independently confirmed prior ot lease or purchase offer or within an applicable due diligence period.