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 Meredith College 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 William Peace University 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.