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 Atlanta, 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 Augusta Mall Southgate Subject Property Southpointe Plaza Colony Plaza Orchard Square 14 Market Overview Demographics 15 Market Overview Augusta, GA Augusta is located on the Georgia/South Carolina 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 Savannah River. The city is linked to Atlanta to the west and Columbia, SC to the east by Interstate 20. Interstate 520 (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 Canal, 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. Augusta University, 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.