Price Reduction

Single Tenant Retail/Office Building Available For Sale

2338 Lumpkin Rd. Augusta, GA 30906 Offering Memorandum 2

2338 Lumpkin Rd. Augusta, GA 30906

Table of Contents 03 06

Offering Summary Property Overview Investment Summary Parcel Map/ Tax Assessment Property Information Photographs Property Location Floor Plans Land Survey Site Plan Aerial Immediate Area Aerial Retail Amenity Aerial 14

We obtained the information in this offering package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation Market Overview 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 Demographics projections, opinions, assumptions or estimates for example only, and they may not represent Augusta, GA current or future performance of the property. You and your tax and legal advisors should Augusta, GA MSA conduct your own investigation of the property and transaction. 3

Offering Summary Investment Summary

Interest Offered: 100% Fee Simple Newmark Knight Frank’s Southeast Retail Investment team in , as exclusive Offering Price: $1,000,000 agent, is pleased to offer the opportunity to acquire 2338 Lumpkin Rd. – a vacant one story single-tenant retail/office property in Seller and Agent will assess the qualification of any party submitting Augusta, GA. Currently utilized as an office a non-binding letter of intent in accordance with Seller’s objectives. Offer Submission building for Augusta Metro Federal Credit In making this assessment, Seller will consider a number of factors Procedure: including, but not limited to, price, time frame of closing, and Union, the property is owner occupied and perceived ability of the party to complete the transaction. will be sold vacant upon the sale. This sizeable office features a total rentable area of approximately 7,500 SF on a large 1.4 AC All submissions must be faxed, emailed or hard copy delivered. land parcel. 2338 Lumpkin Rd. offers both Offer should be submitted in the form of a non-binding letter of users and investors the unique opportunity to intent and should specify the following: acquire a bank branch retail/office property near Augusta’s local attractions and retail  Offering Price amenities that would prove attractive to buyers and prospective tenants.  Due Diligence Period Bid Submission  Closing Broker Contact Information Requirements:  Earnest Money Deposit  Contingencies (if any) Eva Horton Bart Drummond  References Managing Director Executive Managing Director  Documentation of previously completed transactions T 770.552.2404 T 202.312.5469 [email protected] [email protected]  Sources of funds  Any other information having a direct bearing on investor’s ability to close the proposed transaction 4

Offering Summary Property Information

General Information Property Features

PROPERTY ADDRESS: 2338 Lumpkin Rd., Augusta, GA 30906 BUILDING SIZE: Approximately 7,500 SF

COUNTY: Richmond County LOT SIZE: 1.4 AC NO. OF STORIES: 1 Story PARCEL ID: 1092003060 PARKING: Approximately 39 Surface Spaces; 5.2/1,000 SF SUBMARKET: South Richmond County Submarket YEAR BUILT: 1988 PROPERTY TYPE: Single-tenant retail/ bank branch CONSTRUCTION Masonry office building TYPE: CURRENT TENANT: Augusta Metro Federal Credit Union Six (6) points of access via S Burns Rd. and INGRESS / EGRESS: Lumpkin Rd. Currently 100% occupied; Augusta Metro will OCCUPANCY: vacate the space upon the sale of the building. P-1 (Professional Zone) ZONING: and B-1 (Neighborhood Business)

2017 TAXES: $7,255.38 5

Offering Summary Property Location 6

Property Overview Parcel Map and Tax Assessment Commercial Improvement Information Description Bank Branch Value $446,951 Actual Year Built 1988 Effective Year Built 1988 Square Feet 6058 Wall Height 10 Wall Frames Bearing Wall Exterior Wall Stucco Roof Cover Other Interior Walls Sheetrock Floor Construction Concrete On Ground Floor Finish Carpet Ceiling Finish Acoustical Tile Lighting Standard F.F. Heating Cent. Htg. & A.C. Number of Buildings 1

2018 General Information Parcel Number 1092003060 Alternate APN 46620 Class C3-Commercial (Note: This is for tax purposes only. Not to be used for zoning.) Tax District County (District 02) Acres 1.4 AC Neighborhood 48C090 REGENCY MALL (48C090) Sales Sale Date Deed Book/ Page Plat Book/ Page Sale Price Reason Grantor Grantee 1/6/1988 278 1879 $33,000 Non-Market REDDY T R AUGUSTA INDUSTRIAL FEDERAL CREDIT UNION 12/1/1987 278 1879 3 $33,000 Fair Market Value REDDY T R AUGUSTA INDUSTRIAL 8/1/1984 188 2323 2 $14,000 Fair Market Value 12/1/1980 133 1979 1 $21,500 Fair Market Value Valuation 2018 2017 2016 Land Value $91,818 $91,818 $91,818 + Improvement Value $446,951 $446,951 $446,951 + Accessory Value $20,405 $20,405 $20,405 = Current Value $559,174 $559,174 $559,174 7

Property Overview Photographs 8

Property Overview Photographs 9

Property Overview Floor Plans 10

Property Overview Land Survey 11

Property Overview Site Plan Aerial

Subject Property

Subject Property 12

Property Overview Immediate Area Aerial

Fleming Linh’s Beauty Heights Shop Subdivision

Big D’s BBQ St. Alban’s Episcopal Church

Fleming Heights Apartments A 2 Z Childcare Word Gospel Full Baptist Church

Bourda Green Subject Caribbean & Property Oriental Market

P.W. Fashions Island Song’s Haircuts Seafood Kim’s Oriental La Casa Latina Burns Memorial United Market Methodist Church Single Family Residence 13

Property Overview Retail Amenity Aerial

Richmond Plaza

Augusta Square

Southgate

Subject Property

Southpointe Plaza

Colony Plaza Orchard Square 14 Market Overview Demographics 15 Market Overview Augusta, GA

Augusta is located on the / border, about 150 miles east of Atlanta and 70 miles west of Columbia, SC. Officially Augusta-Richmond County, the consolidated city-county is the second largest city in Georgia after Atlanta. Augusta is the principal city of the Augusta metropolitan area, situated in both Georgia and South Carolina on both sides of the . The city is linked to Atlanta to the west and Columbia, SC to the east by . (Bobby Jones Expressway) runs from I-20 Exit 196 through Augusta's western and southern suburban areas, eventually crossing the Savannah River to South Carolina where it becomes the Palmetto Parkway. These easily accessible means of transportation allow patrons and residents to commute to and from Augusta with ease, which is one reason that makes Augusta the ideal place to do business.

Good job growth, diversified employment sectors, good housing value, and a vibrant downtown are major components of Augusta’s great quality of life. With approximately 600,000 residents, the Augusta area has a variety of amenities. The , Augusta Museum of History, Morris Museum of Art, and the Boyhood Home of President Woodrow Wilson are just a few area attractions that residents and patrons visit every year. Augusta is the center of shopping for the entire MSA, with a variety of downtown shops and suburban shopping centers and malls. A resurgence in downtown Augusta is occurring monthly, solidifying this area as the region’s town center. Internationally, Augusta is best known for hosting The Masters golf tournament each spring, which brings over 200,000 visitors from across the world to the Augusta National Golf Club. The city is home to Fort Gordon, a major U.S. Army base. In 2016, it was announced that the new National Cyber Security Headquarters would be based in Augusta, bringing as many as 10,000 cyber security specialists to the Fort Gordon area. The Augusta Metro Area offers a variety of housing options that allow for a low cost of living and affordable housing. The cost of real estate in the Augusta market is more than 20% less than the national average and compliments the overall lower cost of living and cost of doing business. Regardless of the season, Augusta offers a high quality of life with unlimited opportunity for personal and professional fulfillment.

The entire Augusta MSA has a growing population which is young, diverse, educated and upwardly mobile. A workforce of more than 270,000 represent a strong and stable labor pool for new and expanding companies. The millennial population in Augusta has increased by more than 25% in the last 5 years. Augusta Technical College has, for many years, been the mainstay in training a highly trained workforce. Augusta Tech can train students to work in practically any field, whether it is manufacturing, distribution, cyber security, production, assembly, maintenance, and other disciplines required by today’s industry.

Augusta is a regional center of medicine, biotechnology, and cyber security. , the state's only public health sciences graduate university, employs over 7,000 people. Along with University Hospital, the Medical District of Augusta employs over 25,000 people and has an economic impact of over $1.8 billion. Eleven other hospitals in the area include Doctor’s Hospital, Walton Rehabilitation Hospital, two VA Hospitals, Trinity Hospital, University Hospital, and Select Medical Hospital. The Joseph M. Still Burn Center at Doctor's Hospital in Augusta is the largest burn center in the United States and the third largest in the world. 16 Market Overview Augusta, GA MSA

Population Demographics Average Income Median Median Total Residents Higher Education Labor Force Household Household Income Expenditure 594,799 279,489 35% People $51K $53K

Top Jobs By Occupation

Office and Sales Executives, Managers Production Education, Training/ Administrative and Administrators Workers Library Support

14.25% 11.48% 9.8% 7.03% 5.87%

33,810 27,239 23,252 16,679 13,923 2338 Lumpkin Rd. Augusta, GA 30906

For More Information:

Eva Horton Managing Director T 770.552.2404 [email protected]

Bart Drummond Executive Managing Director T 202.312.5469 [email protected] 11-2-2015 Information About Brokerage Services Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: .  A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.  A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):  Put the interests of the client above all others, including the broker’s own interests;  Inform the client of any material information about the property or transaction received by the broker;  Answer the client’s questions and present any offer to or counter-offer from the client; and  Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyerof any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:  Must treat all parties to the transaction impartially and fairly;  May, with the parties' written consent, appoint a different license holder associated with the broker to each party (ownerd an buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.  Must not, unless specifically authorized in writing to do so by the party, disclose: ᴑ that the owner will accept a price less than the written asking price; ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ᴑ any confidential information or any other information that a party specifically instructs the broker in writing notto disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:  The broker’s duties and responsibilities to you, and your obligations under the representation agreement.  Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Licensed Broker /Broker Firm Name or License No. Email Phone Primary Assumed Business Name

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/ License No. Email Phone Associate

Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov IABS 1-0