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MORNINGSIDE STRIP CENTER E: [email protected] 1576-1590 Piedmont Ave - Atlanta , GA 30307 C: Tel

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MORNINGSIDE STRIP CENTER E: Tim@Cityrealty.Net 1576-1590 Piedmont Ave - Atlanta , GA 30307 C: Tel TIM HOLDROYD MORNINGSIDE STRIP CENTER E: [email protected] 1576-1590 Piedmont Ave - Atlanta , GA 30307 C: tel. 404 | 606 0322 27,403 sf of land zoned C1 improved by 17,767 sf of retail space across 3 buildings built in 1925 fronting Piedmont Avenue - Located near Piedmont Park, Morningside Neigh- borhood, Ansley Mall, and the Atlanta BeltLine Trail Approximately 25 unconfigured parking spaces Positioned to be repurposed - Perfect for urban retail or an entertainment venue e v A t n Monroe Dr o m d e Atlanta SITE i BeltLine Trail P ANSLEY MALL Morningside Neighborhood ve A t n o m ed Pi Piedmont Park CITYREALTY.NET THINK INTOWN. THINK CITY. City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 PG.1 EXECTUIVE SUMMARY FOR SALE MORNINGSIDE STRIP CENTER TIM HOLDROYD 1576-1590 Piedmont Ave - Atlanta , GA 30307 E: [email protected] C: tel. 404 | 606 0322 PROPERTY DESCRIPTION: The Morningside Strip Center property consists of four tracts of land (three of which have ELIZABETH VASON parcel numbers), totaling 27,403 sf. The property is improved by three buildings totaling E: [email protected] 17,767 sf of retail space and includes approximately 25 parking spaces. The buildings are C: tel. 404 | 444 8424 currently configured in nine retail spaces that range from 1,400 to 3,500 sf. Built in 1925, the building was then widely known as the Morningside Strip. It is better known as Smith’s Olde Bar, which has occupied 5 of the retail spaces since 1993. Uniquely, this property has been developed, owned, leased, and managed by the same family for 88 years. OUTPARCELS: The property for sale does not contain Cowtippers (to the north) nor the alterations shop El-Gant (to the south). Nor the billboard. These properties are not in the package and not for sale. NEIGHBORHOOD: The Morningside Strip Center is located in Piedmont Heights, 100 ft north of the northwest corner of Piedmont Ave and Monroe Dr, across from Ansley Mall. It is a few hundred yards from Atlanta BeltLine Trail, and the Morningside/ Lenox Park residential neighborhoods. Ansley Mall consists of 175,000 sf of retail anchored by Publix, Cooks Warehouse, LA Fitness, and CVS. LAND USE: The property is zoned C1 and is in the the Atlanta BeltLine Overlay District. It is located in NPU-F: Chairperson: Debbie Skopczynski [email protected] 404-874-7483 Zoning Chair: Charles Nalbone [email protected] 404-376-2330 City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 - CITYREALTY.NET PG.2 EXECTUIVE SUMMARY FOR SALE MORNINGSIDE STRIP CENTER TIM HOLDROYD 1576-1590 Piedmont Ave - Atlanta , GA 30307 E: [email protected] C: tel. 404 | 606 0322 PROPERTY CONDITION: This set of 3 buildings totaling 17,767 sf was constructed in 1925 and purchased by the current ELIZABETH VASON ownership in 1927. The Seller makes no representation as to the condition of the buildings E: [email protected] except to say that all of the roofs are at least 20 years of age and are not under warranty. The C: tel. 404 | 444 8424 Seller has chosen not to do an extensive structural assessment because the buildings’ future is entirely up to the new ownership. TENANCY: The buildings as configured include a bar/restaurant, which occupies four retail spaces on the ground floor and an upstairs concert venue, and four additional vacant or soon to be vacant retail spaces. Please see as-built floorplan drawings. The spaces noted as hair salon and archi- tects are both vacant. The antique shop has a lease through September 30, 2015 and will be vacant thereafter. Smith’s Olde Bar is currently an at will tenant and has received a 60 day notice to vacate, which is in dispute. The Ownership is working to resolve this ongoing issue. POTENTIAL USES: Ownership has positioned the tenancy so that the buildings can be repurposed for urban retail an/or entertainment in the near term. The site could be potentially completely redeveloped; however, due to the age and history, this may require extensive negotiation with the neighbor- hoods and NPU. REAL ESTATE TAXES (2014): 1578 Piedmont Ave 17-0056-0012-006 $9,975.02 1582 Piedmont Ave 17-0056-0012-005 $7,163.88 1586 Piedmont Ave 17-0056-0012-004 $5,827.21 TRAFFIC COUNTS (2014): Monroe Drive north of Piedmont Road 19,040 Piedmont east of Munroe Drive 19,890 Piedmont Road North of Munroe Drive 20,030 City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 - CITYREALTY.NET PG.3 TIM HOLDROYD MORNINGSIDE STRIP CENTER E: [email protected] 1576-1590 Piedmont Ave - Atlanta , GA 30307 C: tel. 404 | 606 0322 CITYREALTY.NET THINK INTOWN. THINK CITY. City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 PG.4 MORNINGSIDE STRIP CENTER 1576-1590 Piedmont Ave - Atlanta , GA 30307 CONTEXT AREA MAP BUCKHEAD PEACHTREE STREET PIEDMONT HEIGHTS NEIGHBORHOOD MORNINGSIDE/LENOX PARK NEIGHBORHOOD ANSLEY MALL ANSLEY PARK NEIGHBORHOOD 1576-1590 PIEDMONT AVE : MORNINGSIDE STRIP CENTER PIEDMONT PARK VIRGINIA HIGHLANDS NEIGHBORHOOD MIDTOWN ATLANTA BELTLINE TRAIL GEORGIA TECH City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 - CITYREALTY.NET PG.5 MORNINGSIDE STRIP CENTER 1576-1590 Piedmont Ave - Atlanta , GA 30307 FLOORPLAN WHOLE BUILDING: ANTIQUE SHOP: UP DECK 360 SF PIPE 14,244 SF 1ST FLOOR 2,738 SF 1ST FLOOR HVAC 3,523 SF 2ND FLOOR 2,738 SF TOTAL ELEC 17,767 SF TOTAL SMITH'S OLDE BAR: ARCHITECT'S OFFICE STAGE DECK 360 SF 1,422 SF 1ST FLOOR 6,988 SF 1ST FLOOR 1,422 SF TOTAL 3,523 SF 2ND FLOOR 10,511 SF TOTAL smith's olde bar VACANT SPACE: HAIR SALON: 12' CH 1,674 SF 1ST FLOOR 1,422 SF 1ST FLOOR UP 1,674 SF TOTAL 1,422 SF TOTAL BAR DN elec 2ND LEVEL FLOOR PLAN - 1576 - 1590 PIEDMONT, ATLANTA, GA 1 Scale: 1/8" = 1'-0" w hvac and elec 7'6 ch hw above up to a loft elec elec ch 8'6 antique shop -12 -12 vacant smith's olde bar skylight ch 15 space ch 14' ch 13' typ ch 11' smith's olde bar smith's olde bar architects hair smith's olde bar salon -12 -7 9" ramp up roll up cover MAIN LEVEL FLOOR PLAN - 1576 - 1590 PIEDMONT, ATLANTA, GA 2 Scale: 1/8" = 1'-0" City Realty Advisors, LLC - 1100 Peachtree Street | Suite 1400 - Atlanta, Georgia 30309 - tel. 404 | 920 0853 - CITYREALTY.NET PG.6.
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