5755 North Point Parkway, Suite 262 2280 Cascade Road, Atlanta, GA Alpharetta, GA 30022 770.481.1960 www.shanegroup.net
CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
Cascade Heights is a 27,770 square foot Wells Fargo anchored retail shopping center located in the highly sought after Cascade
INVESTMENT OVERVIEW Heights neighborhood of southwest Atlanta. The center is currently 93% occupied and Wells Fargo Bank just renewed their lease for a fresh five year term. The additional shop spaces are leased to a diverse mix of local tenants, with one available space of 2,000 RETAIL MARKET square feet. Wells Fargo has been at this location since 2006, and their recent renewal extends their lease for an additional five years through 2021. This branch is equipped with a drive-thru. AERIAL MAPS
PHOTOGRAPHS
RENT ROLL Wells Fargo—Recent Extension Through 2021 FINANCIAL SUMMARY Exceptional Subdivisions and Homes Nearby Dense Population: 76K Residents in 3 Miles LOCATION MAPS Historic Atlanta Revitalization Area DEMOGRAPHICS Famous Atlanta Residents: Hank Aaron, Andrew Young Drastically Under Retailed Area: 8 SF of retail per person, compared to Atlanta average of 67 SF per person
BUILDING: 27,770 SF | LAND: +/- 2.19 ACRES | YEAR BUILT: 1953 (Renovated 2007)
Cascade Heights is an exceptional in town neighborhood of Atlanta, boasting a who’s who of famous Atlantans, exceptional homes, and a business district targeted for revitalization. Famous Cascade Heights residents include Hank Aaron, former Atlanta Mayors Shirley Franklin and Andrew Young, as well as Congressman John Lewis. The commercial center serves numerous well-established, historic neighborhoods and is one of a series of commercial nodes along the Cascade Road corridor. The area is densely populated, with over 76,000 people residing within 3 miles of the center, and is home to several high-end subdivisions. The city of Atlanta has recently proposed a comprehensive redevelopment plan for the district, with several of the plan’s proposals being implemented, including the improvement of sidewalks, streetscapes, and new lighting along Cascade Road. New developments and renovations are planned for the area, including the construction of new retail and restaurant space that is slated to begin construction in late 2016 and early 2017.
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Total SF of Retail per Person (2 mile radius): 8.3 SF Retail SF per Person National Average: 46.6 SF Atlanta Average: 67.2 SF
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL Downtown FINANCIAL SUMMARY Atlanta
LOCATION MAPS
DEMOGRAPHICS
Subject
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Subject
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Note: Lot lines are approximated.
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
AUDUBON ESTATES
SPRING PARK
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
SQUARE % OF LEASE TERM ANNUAL ANNUAL ESTIMATED SUITE TENANT FOOTAGE CENTER START EXPIRATION BASE RENT RENT/SQ. FT. RECAPTURE ESCALATIONS INVESTMENT OVERVIEW
RETAIL MARKET 2270 Service Station 2,000 7.20% Aug-84 Dec-19 $21,221 $10.61 Gross 4% 1768.4 AERIAL MAPS 2280 Wells Fargo Bank 3,570 12.86% Jun-06 Dec-21 $90,714 $25.41 Gross None 7559.48 PHOTOGRAPHS 2282 Dancemaker's Studio 6,500 23.41% Aug-08 Aug-19 $60,000 $9.23 Gross None 5000 RENT ROLL 2284 Big Daddy's Café 1,700 6.12% Jan-96 Aug-19 $22,200 $13.06 Gross 3% in 2018 1850 FINANCIAL SUMMARY
2286 Eldrico Contractor's 1,500 5.40% Oct-16 Sep-19 $12,000 $8.00 Gross 10% in 2018 1000 LOCATION MAPS Source DEMOGRAPHICS 2290 Frills Hair Salon 1,800 6.48% Jan-13 Nov-18 $19,669 $10.93 Gross 3% in 2017 1639.1
2292 Dream Wings 1,700 6.12% Jan-11 Dec-19 $20,867 $12.27 Gross 3% 1738.91
2296 Metro PCS 2,600 9.36% Oct-16 Sep-19 $28,800 $11.08 Gross 4% 2400
2298 Louisiana Seafood 2,400 8.64% Dec-11 Jun-17 $27,518 $11.47 Gross None 2293.2
2308 Vacant 2,000 7.20% $24,000 $12.00
2310 The Tax Prep Co. 2,000 7.20% Jan-16 Dec-20 $24,000 $12.00 Gross None 2000
Billboard Aug-08 Jul-18 $1,000
27,770 $351,989 Occupied 93% 25,770 93.18% $327,989 $12.73 Vacant 7% 2,000 6.82% $24,000 $12.00
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
F i n a n c i a l B u i l d i n g
INVESTMENT OVERVIEW Price: $3,100,000 Year Built: 1953 / Renovated 2007 Down Payment: 30.00% $930,000 Building Square Feet: 27,770 RETAIL MARKET Current CAP: 8.23% Land Parcel (Acres): +/ 2.19 Return on Equity: 9.19% AERIAL MAPS Cost per Gross Square Foot: $111.63 Annual Rent per Square Foot: $12.68 PHOTOGRAPHS L o a n I n f o r m a t i o n T e n a n t s RENT ROLL First Loan Amount: $2,170,000 n Wells Fargo Bank FINANCIAL SUMMARY n Interest Rate: 4.85% n Service Station LOCATION MAPS n Amortization: 20 n Dancemaker's Studio n Term: 5 n Louisiana Seafood DEMOGRAPHICS Monthly Payment: $14,141.84 n The Tax Prep Co. Loan information is for analysis purposes only. Buyer may n Big Daddy's Café obtain new loan or none at all.
R e t u r n E x p e n s e s Current Rents Scheduled Gross Income $ 351,989 Taxes $ 22,049 Plus Overage - Insurance 5,500 Plus Recapture - Maintenance 9,720 Total Income $ 351,989 Utilities 5,306 Less Vacancy 24,000 6.8% Landscaping/Sweeping 4,108 Gross Operating Income $ 327,989 Trash Removal Tenants Less Expenses 72,866 Janitorial 7,939 Net Operating Income $ 255,123 Capital Reserves ($0.15 PSF) 4,166 Loan Payments 169,702 Management 4.0% 14,080 Pre Tax Cash Flow $ 85,421 9.2% Plus Principal Reduction 65,909
Total Return Before Taxes $ 151,330 16.3% Total Expenses $ 72,866 Per Rentable Square Foot: $2.62
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET AERIAL MAPS Subject PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
INVESTMENT OVERVIEW
RETAIL MARKET Average HH Income: $68,000—$116,000 AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement. CASCADE HEIGHTS
770.481.1960 | www.shanegroup.net 2280 Cascade Road, Atlanta, GA
One Mile Three Miles Five Miles INVESTMENT OVERVIEW Population
RETAIL MARKET 2016 Population 4,777 76,519 217,948 2010 Population 4,704 73,489 207,090 AERIAL MAPS 5 Year Projected 4,939 80,103 229,101 Growth Over the Past 6 Years 1.55% 4.12% 5.24% PHOTOGRAPHS Projected Growth Over the Next 5 Years 3.39% 4.68% 5.12% Households RENT ROLL 2016 Households 1,933 30,645 84,413 FINANCIAL SUMMARY % Owner Occupied 52.20% 32.70% 27.70% % Renter Occupied 33.20% 46.40% 50.50% LOCATION MAPS 2010 Households 1,921 29,665 80,981 5 Year Projected 1,989 31,959 88,631 DEMOGRAPHICS Growth Over the Past 6 Years 0.62% 3.30% 4.24% Projected Growth Over the Next 5 Years 2.90% 4.29% 5.00%
Income 2016 Average Household Income $56,479 $43,911 $44,275 5 Year Projected $61,761 $47,130 $47,589 Projected Growth Over the Next 5 Years 9.35% 7.33% 7.49%
Employment & Establishments 2016 Employees/Daytime Population 1,308 18,398 184,018 2016 Total Establishments 186 2,471 11,168
Race White 1.80% 5.20% 7.50% Black 95.60% 91.10% 87.30% Hispanic Origin (Any Race) 1.20% 3.00% 4.50% American Indian/Eskimo 0.30% 0.20% 0.20% Asian/Pacific Islander 0.30% 0.40% 0.80% Two or More Races 1.80% 1.80% 1.90% Other Race 0.30% 1.30% 2.20%
See accompanying Confidentiality Statement.