COMMERCIAL REAL ESTATE

Former C-Store For Lease Hillsborough Street

3411 Hillsborough Street Raleigh, NC 27607 COMMERCIAL REAL ESTATE

CONFIDENTIALITY CONTACT DISCLAIMER

The information contained in this Offering Memorandum is proprietary and strictly confidential. It Nikita Zhitov is intended to be reviewed only by the party(ies) receiving it from CityPlat, LLC and should not be [email protected] made available to any other person or entity without the written consent of CityPlat, LLC. If you are not the intended recipient, you are hereby notified that any retention, dissemination, duplication, 919.412.9038 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 preliminary level of interest in the subject property. The CityPlat information contained herein is not a substitute for a thorough due diligence investigation. www.cityplat.com 919.650.2643 CityPlat, 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 property and improvements, the 119 SW Maynard Rd presence or absence of contaminating substances, PCB’s or asbestos, the compliance with state Suite 200 and federal regulations, the physical condition of the improvements thereon, or the financial Cary, NC 27511 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, CityPlat, LLC has not verified, and will not verify, any of the information contained herein, nor has CityPlat, LLC conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. TABLE OF CONTENTS

5 Executive Summary

7 Maps & Aerials

13 Market Overview

19 Demographics EXECUTIVE SUMMARY 5 | CityPlat EXECUTIVE SUMMARY

CityPlat is pleased to present a former c-store for lease at 3411 Hillsborough Street in Raleigh NC. At the corner of Hillsborough and Turner Street between and NC State University, this high-profile property is a one-of-a kind opportunity.

This building is 1,760 SF and sits on a 0.32 acre lot. The property is an extremely desirable opportunity in Raleigh, NC because of its prominent location pedestrian to NC State University and only one mile from Downtown Raleigh. The property is surrounded by supporting retail, thousands of new and under construction student housing units and is located within walking distance of NC State University and Meredith College and 2 miles from I-40 Exit 3.

KEY OFFERING HIGHLIGHTS 1,760 SF 0.32 Acre Lot Walk-in coolers Former C-Store

FOR LEASE | $5,000/mo NNN MAPS & AERIALS 7 | CityPlat MAPS & AERIALS 8 | CityPlat MAPS & AERIALS

Gorman Street

Turner Street

Hillsborough Street 9 | CityPlat

Downtown Raleigh

Hillsborough Street Gorman Street 10 | CityPlat MAPS & AERIALS

DOWNTOWN RALEIGH Over 200 retailers, restaurants DOWNTOWNand bars occupy RALEIGHRaleigh’s OverCentral 200 Business retailers, District, restaurants with overand 850 bars businesses occupy Raleigh’s located Central Businessdowntown. District, with CAMERONCAMERON VILLAGEVILLAGE over 850 businesses located 527,917527,917 SFSF upscaleupscale shoppingshopping withwith downtown. aa blendblend oo fnationalfnational andand locallocal retailers.retailers. TheThe Southeast’sSoutheast’s originaloriginal lifestylelifestyle cetner.cetner.

Hillsborough St Hillsborough St

NCNC STATESTATE UNIVERSITYUNIVERSITY // HILLSBOROUGHHILLSBOROUGH STST RETAILRETAIL CORRIDORCORRIDOR OverOver 9090 retailers,restaurantsretailers,restaurants andand barsbars pepperpepper thethe primeprime retailretail corridorcorridor encompassingencompassing NCNC State’sState’s campus.campus. 11 | CityPlat MAPS & AERIALS

DINING SHOPPING OTHER

CAMERON VILLAGE 1. Ben and Jerry’s 26. Taco Bell Cantina 2. Brickhouse Sports Pub 27. Insomnia Cookies 3.Beansprout Chinese 28. Brugger’s Bagels 4. Raleigh Brewing Company 29. Gonza Tacos Y Tequila 31 32 5. Snoopy’s Hot Dogs 30. Jubala Coffee 6. Sushi Tsune 31. Liquid State 28 29 30 8 7. Arby’s 32. David’s Dumplings 25 26 27 20 8. The Wild Cooke’s 7 21 7 9. Sub Conscious 1. Reader’s Corner Bookshop 19 17 22 10. Pizza Hut 2. Smoke Ring Smokeshop 6 18 11. Penn Station Subs 3. Nice Price Books 5 6 16 12. Smoothie King 4. College Beverage 4 13 13. Hot Tomato Pizzeria 5. CVS Pharmacy 15 14 14. Wings Over Raleigh 6. Fed Ex Office/Print/Shop 4 5 15. Hangover Grill 7. Red Line Beer and Wine 3 12 16. Checkers Pizza and Subs 3 10 11 17. Poke Bar 1. BP Gas Station 18. Chick Fil A 8 1 2 2. White Wall Auto Repair 2 9 19. Caza Nightclub 3. Pantana’s Pool Hall 7 5 20. Mitch’s Tavern 4. Bitcoin Depot ATM 6 1 21. Global Village Coffee 5. Cutting Edge Salon 3 22. Jasmine and Olive 6. State Employees Credit 4 23. Coco Bongo Union 2 1 N 24. Chipotle Mexican Grill 7. Wells Fargo Bank 25. Jimmy John’s 8. Sam and Bill’s Hair Design MARKET OVERVIEW 13 | CityPlat MARKET OVERVIEW - HILLSBOROUGH ST ECONOMIC DEVELOPMENT ACTIVITY

Live It Up! Hillsborough Street Development Report 14 | CityPlat MARKET OVERVIEW | HILLSBOROUGH ST REVITALIZATION PROJECT

As a major gateway to the city of Raleigh and a hub for NCSU, Hillsborough Street is a well-known downtown Raleigh corridor which has undergone many transformations throughout its history, the most notable of which occurring in the past five years. The current renaissance of Hillsborough Street has been spurred by the completion of phase 1 of the city’s revitalization project in 2010, NC State’s purchases of numerous redevelopment sites, and an influx of private investment.

The road serves as a busy transportation corridor, linking the town of Cary with downtown Raleigh. Hillsborough St is also the center of social life for NC State, Meredith College, and students, offering bars, restaurants, coffee shops, convenience stores, and banks.

$20+ MILLION CITY-FINANCED MAKEOVER

Completed in 2010 and totaling $10 million, the first phase of the city’s revitalization plan included improvements to the street, adding roundabouts, a raised median and street parking. More improvements are currently underway – including the addition of more roundabouts Private Investment Commitment in Real Estate and converting another section of the street (From Gardner Street to $160 Rosemary Street) from a multi-lane, undivided roadway section into a MILLION Along Hillsborough St two-lane road with a raised median, on-street parking and bike lanes.

As the corridor continues to blossom, retail and restaurants have seen Restaurants & Eateries Current Average Sales record setting increases in sales and the growth is only expected to 18% Increase endure. Popular local businesses are opening additional locations, businesses are converting old warehouse into modern high-end office space, and Raleigh residents other than just students are moving to Hillsborough Street. This corridor is transforming into a vibrant, Revitalization Project Centered on Street urbanized downtown district. $20+ Improvement MILLION 15 | CityPlat MARKET OVERVIEW | HILLSBOROUGH ST REVITALIZATION PROJECT

Phase II of the Hillsborough Street Revitalization Project has just been completed. The total invested in the project, centered on street improvement, is now over $20 million.

SUMMARY

This project is modifying Hillsborough Street from the prior configuration of a multi-lane undivided roadway section to a 2 lane road with a raised median, marked bike lanes and on-street parking where feasible, from Gardner Street to the Rosemary Street / Shepherd Street intersection and includes proposed roundabouts at Brooks Avenue, Dixie Trail and Rosemary/Shepherd Streets.

HISTORY

This portion of Hillsborough Street is classified as a minor thoroughfare roadway in the City of Raleigh’s Comprehensive Transportation Plan and carries an average of 17,000 - 19,000 vehicles per day (2016 ADT). This project design will improve the usability of the corridor by using a “complete streets” design approach to provide better access for traffic, bicyclists, and pedestrians alike. In the end, this will provide a fully functional multi-modal corridor, improve safety for motorists and pedestrians, and provide a sustainable solution along this important business district and the northern perimeter of the NC State University campus. 16 | CityPlat MARKET OVERVIEW

$ 3 B I L L I O N ANNOUNCED completed, under construction, and planned projects in the CBD in just 10 years. 1. 220 The Saint - 216 St Mary's St. 2. Edison Office - 335 S Wilmington St. 3. 8. Moore Square Renovation - 200 S. Blount St. 2. 4. West Apartments - 413 N Harrington St. 5. West Apartments II - 441 N Harrington St. 4. 7. 6. Residence Inn by Marriott - 602 S Salisbury St. 7. 7. Union Station - 510 W. Martin St. 5. 12. 9. 3. 10. UNDER CONSTRUCTION 1. 200. S Salisbury - 200 S Salisbury St. 2. 227 Fayetteville St. - 227 Fayetteville St 3. Blount Street Commons - 510 John Haywood Lane 12. 4. Boylan Pearce Building - 217 Fayetteville St 5. Charter Square - 501 Fayetteville St 8. 6. The Edison Apartments - 301 S Wilmington St 4. 7. Elan City Center - 501 N Wilmington St 3. 8. Peace Street Townes - 206 E. Peace St. 9. The Gramercy - 630 N. North St. 10. The Lincoln - 402 E. Hargett St. 1. 11. 13. 11. The L - 209 W Davie St 1. 1. 10. 12. Link Apartments - 207 N. West 2. 13. The Ten at South Person - 520 S. Person St.LE 4. 3. 13. 9. 7. 2. 11. 6. COMPLETED 5. 1. SkyHouse Raleigh – 313 Wilmington St. 6. 2. Raleigh Beer Garden - 614 Glenwood Ave. 3. Holiday Inn Renovation - 320 Hillsborough St. 4. State Bar - 217 E. Edenton St. 5. 5. Red Hat Tower - 100 E. Davie St. 6. 6. Sheraton Raleigh Hotel Renovation - 421 S Salisbury St. 7. Carolina Ale House - 500 Glenwood Ave. 8. State Employees Credit Union - 100 N Salisbury 9. Wake County Justice Center - 300 S. Salisbury St. 10. Hibernian Pub – Renovation – 311 Glenwood Ave 11. Citrix - 120 S. West St. 12. Devon Four25 - 425 N Boylan Ave. 14. 13. Marbles Kids Museum Expansion - 201 E. Hargett St. 14. SunTrust - 411 Fayetteville St. 17 | CityPlat RALEIGH, NC

Raleigh is the capital of the state of North Carolina and the seat of Wake County in the United States. Raleigh is the second-largest city in the state, after Charlotte. Raleigh is known as the "City of Oaks" for its many oak trees, which line the streets in the heart of the city. The city covers a land area of 142.8 square miles. The U.S. Census Bureau estimated the city's population as 479,332 as of July 1, 2018. It is one of the fastest-growing cities in the country.

Raleigh is home to North Carolina State University (NC State) and is part of Park (RTP), together with Durham (home of Duke University and North Carolina Central University) and Chapel Hill (home of the University of North Carolina at Chapel Hill). The "Triangle" nickname originated after the 1959 creation of the Research Triangle Park, located in Durham and Wake counties, among the three cities and their universities. The Research Triangle region encompasses the U.S. Census Bureau's Raleigh-Durham-Chapel Hill Combined Statistical Area.

Most of Raleigh is located within Wake County, with a very small portion extending into Durham County. The towns of Cary, Morrisville, Garner, Clayton, Wake Forest, Apex, Holly Springs, Fuquay-Varina, Knightdale, Wendell, Zebulon, and Rolesville are some of Raleigh's primary nearby suburbs and satellite towns.

RALEIGH-CARY and WAKE COUNTY ACCOLADES

• #1 Among Mid-Sized American Cities of the Future - The Financial Times, April 2015 • Among Five American Cities You Should Visit in 2015 - The Huffington Post, February 2015 • Among World’s 300 Largest Metropolitan Economies in 2014 - Brookings Institution, January 2015 • #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 U.S. Cities Attracting The Most Families (Raleigh MSA) - Forbes, September 2014 • #1 Among The Best Places for Business and Careers - Forbes, July 2014 • #3 Among 10 Fastest Growing Cities - CNNMoney, March 2014 • #2 Among America’s 20 Fastest-Growing Cities - Forbes, February 2014 DEMOGRAPHIC OVERVIEW 19 | CityPlat DEMOGRAPHICS 20 | CityPlat DEMOGRAPHICS

2019 Summary 1 Mile 3 Miles 5 Miles Population 15,266 95,766 220,357

Households 3,320 40,367 91,877

Families 1,309 15,308 42,165

Average Household Size 2.31 2.05 2.20

Owner Occupied Housing Units 1,264 14,706 38,014

Renter Occupied Housing Units 2,056 25,661 53,863

Median Age 22.0 29.1 31.7

Median Household Income $63,906 $62,398 $61,753

Average Household Income $96,957 $98,794 $93,365

2024 Summary 1 Mile 3 Miles 5 Miles Population 15,919 105,189 240,605 1 Mile Households 3,593 45,203 101,332 Families 1,400 16,835 45,789 Average Household Size 2.32 2.04 2.20 Owner Occupied Housing Units 1,389 16,139 41,898 3 Miles Renter Occupied Housing Units 2,204 29,064 59,434 Median Age 22.2 29.8 32.0 Median Household Income $69,523 $69,804 $70,650 Average Household Income $103,618 $107,804 $104,3935 Miles COMMERCIAL REAL ESTATE

Nikita Zhitov [email protected] 919.412.9038

CityPlat www.cityplat.com 919.650.2643

119 SW Maynard Rd Suite 200 Cary, NC 27511