property summary - loopnet · 2016. 9. 16. · adjacent to research triangle park united...

5608 & 5612 HIGHWAY 55 SITE

PROPERTY SUMMARY 5608 & 5612 Highway 55 offers the opportunity to purchase a ±9.82 acre commercial site centrally located in the Triangle, directly on Highway 55, near the intersection with Highway 54.

The Property is conveniently located minutes from Research Triangle Park, has significant retail amenities nearby, and has easy access to the primary transportation thoroughfares I-40 and I-540.

FOR SALE 5608 & 5612 Highway 55 | Durham

DAN MCPHILLIPSExecutive Vice President | Retail Services919 582 [email protected]

CLAUDIA BORDEAUXVice President | Retail Services919 582 [email protected]

ADJACENT TO RESEARCH TRIANGLE PARK

United Properties, LLC10 & 11 Laboratory, Durham, NC

12-Month Budget Listing - Combined2014

Managed by: Anthony & Co.Sq Ft 51,994

Account Number Account Name Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total

4110-000 RENT 50,800 50,800 50,800 50,800 51,200 51,200 51,200 51,200 51,200 51,200 51,200 51,200 612,800 4190-000 CAM 975 975 975 975 975 975 975 975 975 975 975 975 11,704 4910-000 OTHER INCOME 800 800 800 800 800 800 800 800 800 800 800 800 9,600

52,575 52,575 52,575 52,575 52,975 52,975 52,975 52,975 52,975 52,975 52,975 52,975 634,104 -

5200-360 JANITORIAL SERVICES 1,755 1,755 1,755 1,755 1,755 1,755 1,755 1,755 1,755 1,755 1,755 1,755 21,060 5200-370 JANITORIAL SUPPLIES 263 263 263 263 263 263 263 263 263 263 263 263 3,158 5200-375 WINDOW CLEANING - - - - 1,500 - - - - - - - 1,500 5200-380 TRASH REMOVAL 458 458 458 458 458 458 458 458 458 458 458 458 5,497 5250-130 BLDG. REPAIR AND MAINT 600 600 600 600 600 600 600 600 600 600 600 600 7,200 5250-131 BLDG. SUPPLIES & MILEAGE 80 80 80 80 80 80 80 80 80 80 80 80 960 5250-132 BLDG. REPAIR VENDOR 1,099 - 705 4,499 - - - - - - - - 6,303 5250-135 ROOF REPAIR - - - - 250 - 250 - - - - - 500 5250-145 METAL MAINTENANCE - - - - - - - - - - - - - 5250-250 ELECT/LIGHTING REPAIRS 58 58 58 58 58 58 58 58 58 58 58 58 700 5250-255 LIGHTING-PARKING LOT - - 400 - - - - - - - - - 400 5250-270 HVAC CONTRACT 496 - - 496 - - 496 - - 496 - - 1,984 5250-280 HVAC REPAIRS 150 - - 150 - - 150 - - 150 - - 600 5250-340 PLUMBING 50 - - 100 - 300 350 - - 50 - - 850 5250-390 ELEVATOR CONTRACT 817 - - 817 - - 817 - - 817 - - 3,267 5250-395 ELEVATOR REPAIR - 350 - - - - - - 200 - - - 550 5250-440 R&M PAINTING & DECORATING - - 350 - - 350 - - 350 - - 350 1,400 5250-445 SIGNS - - - - - - - - - - - - - 5250-450 LOCKSMITH - - - - - - - - - - - - - 5250-460 EXTERMINATOR SERVICE 140 140 140 140 140 140 140 140 140 140 140 140 1,680 5250-470 INTERIOR LANDSCAPING - - - - - - - - - - - - - 5300-510 ELECTRICITY 6,969 8,488 7,934 6,864 6,389 5,417 6,154 6,665 7,239 5,612 5,593 7,016 80,340 5300-520 GAS-Bldg #1 313 321 304 314 303 329 310 319 319 310 314 314 3,771 5300-530 WATER/SEWER 678 479 474 487 483 539 1,320 446 546 412 1,807 464 8,135 5300-532 WATER IRRIGATION 457 284 256 256 293 256 1,038 1,097 284 256 1,487 256 6,221 5300-540 PHONE 198 198 198 198 198 198 198 198 198 198 198 198 2,371 5350-320 PARKING LOT MAINTENANCE - - - - 300 - - - - - - 500 800 5350-325 PARKING LOT - SNOW REMOVAL 1,108 1,108 608 608 608 608 608 608 608 608 608 1,108 8,801 5350-330 LANDSCAPING 592 1,404 592 592 592 592 592 592 592 592 592 592 7,911 5400-560 SECURITY & ALARM CONT & REPAIR 30 798 30 30 30 30 30 30 380 30 30 30 1,478 5400-563 R&M FIRE & LIFE SAFETY - - - - - - - - 350 - - 1,831 2,181 5500-000 INSURANCE 30 30 30 30 30 30 30 30 30 30 30 2,228 2,558 5550-745 ADMINISTRATIVE EXPENSES 30 30 30 30 30 30 30 30 30 30 30 32,869 33,199 5580-000 PROPERTY TAXES 796 796 796 796 836 836 836 836 836 836 836 31,149 40,188 5600-575 MANAGEMENT FEES 735 735 735 735 772 772 772 772 772 772 772 772 9,116

NET OPERATING EXPENSE 17,903 18,376 16,797 20,357 15,968 13,641 17,335 14,978 16,088 14,553 15,652 83,030 264,678-

NET OPERATING INCOME $34,672 $34,199 $35,779 $32,219 $37,007 $39,334 $35,641 $37,997 $36,887 $38,422 $37,324 ($30,055) 369,426 -

OTHER DISBURSEMENTS1036-000 TAX RESERVES (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) 63,152 - 1320-000 BUILDING & FIXTURES - - - - - - - - - - - - - 1420-000 TENANT/LEASEHOLD IMPROVEMENTS - - - - - - - - - - - - - 5700-565 COMMISSION - - - - - - - - - - - - - 5550-730 PROFESSIONAL FEES - - - - - - - - (1,400) - - - (1,400) 5898-000 ENTITY TAXES - - - - - - - - - - - - -

TOTAL OTHER DISBURSEMTNS (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (5,741) (7,141) (5,741) (5,741) 63,152 (1,400)0

CASH FLOW 28,931 28,458 30,038 26,478 31,266 33,593 29,899 32,256 29,746 32,681 31,582 33,097 368,026-

2502-000 OWNER DISTRIBUTION - - 0

NET CASH FLOW 28,931 28,458 30,038 26,478 31,266 33,593 29,899 32,256 29,746 32,681 31,582 33,097 368,026

3/25/2014 MEMA Budget 2014- Draft(3) 10:50 AM

100 acres purchased for $17M for “RTP Village Center”, new tract provides space $2 billion urban makeover with 6 million SF of new development.

Purchased acreage creates the potential of 150,000 new jobs, residential units, retail and hospitality developments

Opened Dec-2014, the Frontier is the first park renovation. This 120,000 SF building is the “largest open innovation center” in the nation.

Funding received for planning the commuter rail project that would extend from Durham to Garner through RTP

2 0 0 C O M P A N I E S | 5 5 , 0 0 0 E M P L O Y E E S + | 7 , 0 0 0 A C R E S | 2 2 . 5 M S F

RTP is currently undergoing exciting redevelopment and reimagination including:

Research Triangle Park (RTP) is one of the oldest and largest science parks in North America. It is comprised of 7,000 acres and 200 companies with 42,000 full time knowledge workers and 10,000 contract employees with an average salary of $73,000. Major employers in the metro area include Duke University and Medical Center, University of North Carolina, IBM, GlaxoSmithKline, SAS Institute, Cisco Systems, Syngenta, RTI International and Credit Suisse. Employers continue to be attracted to Research Triangle Park because of the rich recruitment pool, relatively low costs, and superb amenities.

RTP VILLAGE CENTER RENDERINGS


SITE DETAILSAddress: 5608 & 5612 Highway 55 PIN: 0737-01-07-9472 Durham, NC 27713 0737-01-06-9992Acreage: ±9.82 Acres Ideal Use: Retail, Ministorage, Office, FlexZoning: CN & RR Asking Price: Call Advisor

119,

000

AADT

35,5

50 A

ADT

22,5

60 A

ADT

LOWE’S GROVE MIDDLE SCHOOL

DURHAM COUNTY LIBRARY

TRINAGLE WASTEWATER

TREATMENT

SITE

TRAFFIC COUNTSInterstate 40 at Highway 55 119,000 AADT Highway 54 at Highway 55 35,550 AADTHighway 54 at S. Alston 22,560 AADTHighway 55, at the site 19,000 AADT

19,000 AADT


Carousel DentistryExpress EmploymentRTP EndodonticsElectric Violin ShopThe Glass JugNC License Plate Agency

GLENWOOD COMMONSEast Coast Asian BistroTandoor Banquet HallSarah’s EmpanadasThai LannaTandoor IndianAutoRama Car Wash

AREA RETAIL MAP

This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2016. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement.

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LOCATION MAP


TOPOGRAPHY - 2FT TOPOGRAPHY - 10FT


COMMERCIAL NEIGHBORHOOD (CN)The CN District is established to provide for modest‐scale commercial centers in close proximity to residential areas that offer limited commercial uses to satisfy the needs of the surrounding neighborhood. Compatibility is facilitated through design standards and buffering that provide for walkable, pedestrian‐oriented development that complements nearby residential neighborhoods. The district is not intended for use by major or large‐scale commercial sales, service or automotive‐oriented activities. The CN District is only appropriate in locations that have direct access to residential neighborhoods.

RESIDENTIAL RURAL DISTRICT (RR)The RR District is established to provide for agricultural activities and residential development on lots of one acre or greater and in conservation subdivisions. Commercial and industrial development is generally prohibited.

This district is used to implement the Comprehensive Plan within those areas shown as the Rural Tier. Lands within other Tiers that have existing RR zoning are acknowledged; however, such lands may be rezoned to more intensive zoning districts consistent with the Comprehensive Plan. The regulations of this district are designed to discourage the development of urban services and to encourage the maintenance of an open and rural character.

CNRR

ZONING ZONING DESCRIPTION


FEMA FLOOD RISK FLOODZONE


Executive Summary5608 NC-55, Durham, North Carolina, 27713 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 35.88634

Longitude: -78.89473

1 mile 3 miles 5 milesPopulation

2000 Population 2,429 16,169 42,1332010 Population 3,417 27,698 83,4492016 Population 3,756 33,762 103,1362021 Population 4,048 38,211 118,1602000-2010 Annual Rate 3.47% 5.53% 7.07%2010-2016 Annual Rate 1.52% 3.22% 3.45%2016-2021 Annual Rate 1.51% 2.51% 2.76%2016 Male Population 47.9% 48.2% 47.7%2016 Female Population 52.1% 51.8% 52.3%2016 Median Age 34.6 33.4 34.4

In the identified area, the current year population is 103,136. In 2010, the Census count in the area was 83,449. The rate of change since 2010 was 3.45% annually. The five-year projection for the population in the area is 118,160 representing a change of 2.76% annually from 2016 to 2021. Currently, the population is 47.7% male and 52.3% female.

Median Age

The median age in this area is 34.6, compared to U.S. median age of 38.0.Race and Ethnicity

2016 White Alone 53.9% 47.0% 49.5%2016 Black Alone 30.0% 33.1% 28.0%2016 American Indian/Alaska Native Alone 0.5% 0.4% 0.4%2016 Asian Alone 8.2% 12.6% 15.5%2016 Pacific Islander Alone 0.1% 0.1% 0.1%2016 Other Race 3.4% 3.2% 3.3%2016 Two or More Races 3.9% 3.6% 3.3%2016 Hispanic Origin (Any Race) 8.5% 7.6% 7.4%

Persons of Hispanic origin represent 7.4% of the population in the identified area compared to 17.9% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 70.0 in the identified area, compared to 63.5 for the U.S. as a whole.

Households2000 Households 912 6,860 18,1092010 Households 1,462 12,335 36,0612016 Total Households 1,614 14,969 44,0442021 Total Households 1,743 16,889 50,1002000-2010 Annual Rate 4.83% 6.04% 7.13%2010-2016 Annual Rate 1.60% 3.15% 3.25%2016-2021 Annual Rate 1.55% 2.44% 2.61%2016 Average Household Size 2.33 2.25 2.34

The household count in this area has changed from 36,061 in 2010 to 44,044 in the current year, a change of 3.25% annually. The five-year projection of households is 50,100, a change of 2.61% annually from the current year total. Average household size is currently 2.34, compared to 2.31 in the year 2010. The number of families in the current year is 25,408 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021. Esri converted Census 2000 data into 2010 geography.

July 26, 2016

©2016 Esri Page 1 of 2

Executive Summary5608 NC-55, Durham, North Carolina, 27713 Prepared by EsriRings: 1, 3, 5 mile radii Latitude: 35.88634

Longitude: -78.89473

1 mile 3 miles 5 milesMedian Household Income

2016 Median Household Income $64,338 $74,124 $76,0022021 Median Household Income $71,583 $80,605 $82,5402016-2021 Annual Rate 2.16% 1.69% 1.66%

Average Household Income

2016 Average Household Income $74,725 $88,143 $93,2582021 Average Household Income $80,316 $96,518 $101,7262016-2021 Annual Rate 1.45% 1.83% 1.75%

Per Capita Income2016 Per Capita Income $31,687 $39,577 $39,6292021 Per Capita Income $34,079 $43,233 $42,8952016-2021 Annual Rate 1.47% 1.78% 1.60%

Households by IncomeCurrent median household income is $76,002 in the area, compared to $54,149 for all U.S. households. Median household income is projected to be $82,540 in five years, compared to $59,476 for all U.S. households

Current average household income is $93,258 in this area, compared to $77,008 for all U.S. households. Average household income is projected to be $101,726 in five years, compared to $84,021 for all U.S. households

Current per capita income is $39,629 in the area, compared to the U.S. per capita income of $29,472. The per capita income is projected to be $42,895 in five years, compared to $32,025 for all U.S. households Housing

2000 Total Housing Units 949 7,276 19,2462000 Owner Occupied Housing Units 653 3,884 10,9102000 Renter Occupied Housing Units 259 2,976 7,1992000 Vacant Housing Units 37 416 1,137

2010 Total Housing Units 1,575 13,581 39,0692010 Owner Occupied Housing Units 939 6,055 20,9052010 Renter Occupied Housing Units 523 6,280 15,1562010 Vacant Housing Units 113 1,246 3,008



Currently, 50.1% of the 47,493 housing units in the area are owner occupied; 42.6%, renter occupied; and 7.3% are vacant. Currently, in the U.S., 55.4% of the housing units in the area are owner occupied; 32.9% are renter occupied; and 11.7% are vacant. In 2010, there were 39,069 housing units in the area - 53.5% owner occupied, 38.8% renter occupied, and 7.7% vacant. The annual rate of change in housing units since 2010 is 9.07%. Median home value in the area is $243,568, compared to a median home value of $198,891 for the U.S. In five years, median value is projected to change by 1.59% annually to $263,561.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2016 and 2021. Esri converted Census 2000 data into 2010 geography.

July 26, 2016

©2016 Esri Page 2 of 2

DEMOGRAPHICS


RALEIGH-DURHAM ACCOLADESRECENT ACCOLADES

» #1 City for Business and Careers (Durham) Forbes | 2015

» #2 Fastest Growing Senior Population (Raleigh) Forbes | February 2016

» #2 Easiest City to Find a Job (Raleigh) Forbes | December 2015

» #3 Best Place to Live (Raleigh-Durham) U.S. News | March 2016

» #3 Best Private College in the United States (Duke University) USA Today | 2015

» #3 Best State of Business (North Carolina) Forbes | 2014

» #3 Best City for Young Families Value Penguin | February 2016

» #3 Best State of Business (North Carolina) Forbes | 2014

» #4 Top Technology Markets (Durham) ULI Emerging Trends in Real Estate | 2015

» Top 5 Multifamily Investment Markets (Raleigh-Durham); National Real Estate Investor | February 2016

» #6 Best Small Cities for Food Lovers (Durham) The Wall Street Journal | 2015

» #6 20 Richest Cities in America Bloomberg | November 2015


119,

000

AADT

35,5

50 A

ADT

22,5

60 A

ADT

LOWE’S GROVE MIDDLE SCHOOL

DURHAM COUNTY LIBRARY

TRINAGLE WASTEWATER

TREATMENT

SITE19,000 AADT

FOR SALE > LAND5608 & 5612 Highway 55 | Durham

property summary - loopnet · 2016. 9. 16. · adjacent to research triangle park united...

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