mitchell center
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1573 Whiskey RoadAiken, South Carolina 29803
Mitchell CenterAIKEN, SC
FOR SALE
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CONTENTS
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EXECUTIVE SUMMARY Advisor Bios 6 Property Overview 8 Property Highlights 9 Offering Summary 10 Location Overview 11 Site Plan 12 Gallery 13 Bird’s Eye View Aerials 18 FINANCIALS Rent Roll 24 Investment Analysis 26 MARKET REPORT Overview 29 Market Highlights 30 Market Overview 31 Demographics 32 Aiken, South Carolina 34 Economy 35 Major Employers 36 Healthcare 37 Education 38
CONTACT Legal Disclaimer 39 Contact Info 40
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EXECUT IVE SUMMARY
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JORDAN COLLIERDirector of Commercial Development
Direct: 706.736.3375 | Cell: 706.306.7382
GA #354980 // SC #107569
Professional BackgroundJordan Collier is Director of Commercial Development For Meybohm. He is a third-generation commercial developer who has spent the last 10 years in the commercial real estate space. His brokerage clientele includes family offices that focus on value add CRE assets throughout the southeast. Jordan has been involved in the syndication and development of industrial, residential, retail, office, and multifamily assets. Before partnering with Meybohm in 2018, Jordan began his career with Collier Management Company in Augusta, Georgia, where he became a partner in the management and development division. Jordan serves on the board of LifeSpring Healthcare and Rehabilitation, is the Chief Executive of Doorpost Management, the President of MRD Investments, Inc., the President of Collier Construction Company, Inc., and is a member of both CCIM and ICSC.
EducationJordan holds a bachelor’s degree in Biology from the University of Georgia and is a Licensed Broker in the States of Georgia and South Carolina.
MembershipsCCIMICSCGASSA
Meybohm Commercial
Propert ies
3519 Wheeler Road
Augusta, GA 30909
706.736.0700
MeybohmCommercial.com
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BRIAN SWEETINGInvestment Analyst
Direct: 706.736.3375 | Cell: 706.414.0244
Professional BackgroundBrian is a real estate finance professional with extensive experience in underwriting for private funds, national REITs, and large banks. This underwriting experience includes a specialized focus on financial analysis of the multi-family, retail, and hospitality sectors. Brian has been involved in syndication of a wide array of commercial real estate deals encompassing individuals, family offices, and institutional firms.
EducationPiedmont University Bachelor Of Finance Class of 2015
Meybohm Commercial
Propert ies
3519 Wheeler Road
Augusta, GA 30909
706.736.0700
MeybohmCommercial.com
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Meybohm Commercial is pleased to present the Mitchell Center, located in the prosperous community of Aiken, South Carolina. The Property is anchored by Dollar General, Mattress Man, Rent-A-Center and Little Caesar’s. The Property represents the heart of Aiken’s primary retail corridor with complimentary surrounding retail.
Mitchell Center, 81.6% occupied, provides value add potential through additional leasing, outparcel develop-ment and contractual rent bumps in many of the leases. Mitchell Center offers investors the opportunity to purchase a well-located retail property with strong tenants providing durable cash flow and the potential to grow NOI significantly.
PROPERTY OVERVIEW
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• Strong NOI in place with additional Value Add Opportunity
• Strategically Located in Aiken’s Premiere Retail Corridor
• Out parcel Development with excellent visibility of Whiskey Road
PROPERTY HIGHLIGHTS
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OFFERINGSUMMARYSale Price: $5,385,000
Building Size: 95,079 SF
Lot Size: 8.12 Acres
Price / SF: $56.64
Cap Rate: 6. 75 %
NOI: $363,006
Year Built: 1958
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Mitchell Center is well located in the heart of Aiken’s retail hub. Aiken is a vibrant and wealthy
community with exceptional household income and growth demographics. Aiken is known for its
progressive business approach, as demonstrated by its strong record of attracting new firms and
existing industries expanding.
LOCATIONOVERVIEW
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Mitchell Center1573 Whiskey RoadAiken, South Carolina29803
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- 40
103 -170Robert Page
103 -180Southern Fabric
103 -190Foods For
Better Living
103 - 200Rhonda’s
103 -230The Coin Shop
103 -220Hearing Aid
Center
103 -210Coin Shop II
103 -160
103 -150
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Not Included as Part of Sale
SOAP-N-SUDS
103 -130103 -140
103-100 Mattress Man 7,450103-110 Rent-A-Center 8,000 103-120 Advance America 1,700103-130 AVAILABLE 4,500103-140 AVAILABLE 1,000103-150 SPCA Albrecht Animal Welfare 13,000103-160 AVAILABLE 8,850
103-10 Soaps N Suds 1,800103-10 Little Caesar’s 2,000103-30 Pink Flamingo 1,000103-40 AVAILABLE 1,200103-50-70 Kelley Appliance 8,300103-80 Dollar General 18,009103-90 AHH Sunshine 13,000
103-170 Robert Page 350103-180 Southern Fabric 595103-190 Foods For Better Living 350103-200 Rhonda’s 725 103-210 Coin Shop II 350103-220 Hearing Aid Center 400103-230 The Coin Shop 500
T E N A N T S Q F T S U I T E E T E N A N T S Q F T S U I T E E T E N A N T S Q F T
3 2 3 PA R K I N G S PAC E S
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WHISKEY ROAD 18,000 VPD
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W H I S K E Y R O A D
W H I S K E Y R O A D
323 P A R K I N G S P A C E S
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F INANCIA LS
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R ENT ROL LP l e a s e c o n t a c t B r o k e r f o r m o r e i n f o r m a t i o n .
R ENT ROL L con t i n u ed
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P l e a s e c o n t a c t B r o k e r f o r m o r e i n f o r m a t i o n .
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PURCHASE PRICE
$ 5,385,000
PURCHASECAP RATE6.75%
PURCHASE$/SF$56.64
INVESTMENT ANALYS ISP l e a s e c o n t a c t B r o k e r f o r m o r e i n f o r m a t i o n .
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INVESTMENT ANALYS IS con t i n u ed
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P l e a s e c o n t a c t B r o k e r f o r m o r e i n f o r m a t i o n .
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MARKET R E PORTA IKEN , SOUTH CAROL INA
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The Property is strategically located in Aiken
right off I-20, within short driving distance to
Aiken Regional Medical Centers, and nearby
amenities such as the Aiken Exchange, the Aiken
Mall, downtown Aiken, and many restaurants
and local bars. The Aiken submarket has a
uniquemix of demand generators. The area has
developed into its own corporate niche with
a presence from global and national companies
such as Bridgestone, Leidos, NovaTech, Emerson
ASCO, Shaw and Kimberly-Clark.
OVERVIEW
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MARKET H IGHL IGHTS
$174,000 Median Home
Sales Price
$76,500 Household
Income
20,743 Households
48,319 Population
ECONOMY & TOURISM HEALTHCARE EDUCATION TRANSPORTATION
• Bridgestone’s presences includes 2,000 jobs and over a $1.2 billion dollar investment • Aiken County total labor force exceeds 81,000
• $46,567,773 dollars invested in Commercial Developments
• Aiken Regional Medical Centers
• University Primary Care
• University of South Carolina at Aiken
• Aiken Technical College
• Aiken County has 20 elementary schools, 11 middle schools, 9 high schools, 3 charter schools, and 1 career and technology center, enrolling over 23,000 students
• In close proximity to I-20
• Home to the Aiken Municipal Airport and located in between the Augusta Regional Airport and Columbia Metropolitan Airport
• The major rail lines of CSX Transportation and Norfolk Southern bisect the area
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MITCHELL CENTER
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DEMOGRAPH ICS MAP & R E PORT
Total Population 3,187 53,282 95,307
Average Age 40.9 43.7 41.6
Average Age (Male) 39.1 40.3 39.2
Average Age (Female) 42.0 45.7 42.8
POPULATION 1 MILE 5 MILES 10 MILES
POPULATION 1 MILE 5 MILES 10 MILES
Total Households 1,361 21,818 38,387
# of persons per HH 2.3 2.4 2.5
Average HH Income $76,775 $73,361 $63,726
Average House Value $226,813 $230,507 $204,009
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Founded in 1835 by William Aiken, President of South Carolina Railroad, who was instrumental in bringing the
railroad through town. In 1950, President Truman requested that Dupont design and construct a nuclear facility in
South Carolina, now known as the Savannah River Site. Aiken is also known for its equestrian community. The mild
climate and sandy soil have proven to be a haven for horse trainers and enthusiasts.
AIKEN, SOUTH CAROLINA
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The economy is strengthened by entrepreneurial local business, medical facilities, and national and global
enterprises. Over the last decade, job creation has exceeded 3,100 and almost $2 billion dollars of
capital investment. Of that, recent projects include Southern Current launching new solar operations and
Zeus Industrial Products expanding their current footprint.
The area’s natural resources and current business base are particularly well-suited for several industries,
advanced manufacturing, chemicals, plastics, energy research, food processing, and research and
development. Companies here have easy access to places they need to reach and the utilities to meet
their needs.
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Savannah River Solutions Processes and stores nuclear materials 11,000
Amick Farms Poultry processing 2,100
Bridgestone Tire manufacturer 1,980
Kimberly-Clark Consumer hygiene 1,200
AGY Fiberglass insulation & circuit boards 731
Shaw Industries Fiber manufacturing 673
UPS CustomhouseBrokerage International customhouse brokerage 589
Autoneum North America Vehicle carpet and trunk systems 565
Emerson ASCO Solenoid valve technology 450
The region is home to numerous companies in diverse industries. The strength of the Aiken economy
along with the aspiration to live in a high-quality region with a low cost of living makes the community
very desirable.
MAJOR EMPLOYERS
COMPANY PRODUCT/SERVICE EMPLOYEES
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Aiken Regional Medical Center was opened in 1917, and has 273 beds, 183 physicians representing
40-plus specialties, and over 1,160 associates. Ranked one of the top hospitals in the State by the
Carolina Center for Medical Excellence.
University Primary Care services include the diagnosis and management of simple and chronic health
problems as well as management of all acute, chronic, simple and complex medical issues of adults.
University Prompt Care offers walk-in appointments for non-life-threatening conditions.
HEALTHCARE
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Aiken County School District has implemented Accelerated Learning
Initiatives and Thematic Programs for students to prepare and exceed
the standard in college and in future careers. Early College Site is a
collaboration with Aiken Technical College, similar to the Advanced
Placement Academies, providing a foundation and furthering of critical
thinking skills, enhanced learning, and time-management skills for fu-
ture-ready students.
The University of South Carolina Aiken and Aiken County School
District are partnered to form the Aiken Scholars Academy and create
an academic school of excellence. The Academy offers an advanced
learning opportunity inside of a college campus to prepare scholars in
future endeavors. Additionally, the school district has begun a community
workforce development collaborative called Aiken Works. The program
encourages business and industry to partner with the school district and
offer hands-on experience for students. Aiken Works is geared towards
the enhancement of education and workforce ready students.
The middle schools of Aiken County incorporate science, technology,
engineering and math across all subject areas, known as STEM or
STEAM (STEM + art). Art is also celebrated across Aiken County
with the help of Joye in Aiken and Aiken Performing Arts partnering
with the District to provide inspiration, mentors, workshops and
concerts.
EDUCATION
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All materials and information received or derived from Meybohm Commercial Properties its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without rep-resentation or warranty as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial perfor-mance of the property for any party’s intended use or any and all other matters.
Neither Meybohm Commercial Properties its directors, officers, agents, advisors, or affiliates makes any representation or warran-ty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. Meybohm Commercial Prop-erties will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable documents and reports and con-sulting appropriate independent professionals. Meybohm Commer-cial Properties makes no warranties and/or representations regard-ing the veracity, completeness, or relevance of any financial data or assumptions. Meybohm Commercial Properties does not serve as a financial advisor to any party regarding any proposed transac-tion. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Meybohm Commercial Properties in compliance with all applicable fair housing and equal opportunity laws.
Meybohm Commercial Propert ies
3519 Wheeler Road
Augusta, GA 30909
706.736.0700
MeybohmCommercial.com
JORDAN COLL [email protected]
BRIAN SWEET [email protected]