valdosta townhouse portfolio valdosta townhouse portfolio … · the units are currently renting...
TRANSCRIPT
www.FranklinSt.com
Valdosta Townhouse Portfoliowww.FranklinSt.com
Toni Ter., Ricardo St., Langdale Dr., Valdosta, Georgia 31601
VALDOSTA TOWNHOUSE PORTFOLIOToni Ter., Ricardo St. & Langdale Dr.Valdosta, Georgia 31601
2Presents
Franklin Street
FRANKLIN STREETCONFIDENTIALITY AGREEMENT
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest into the acquisition of the Subject Property.This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of state of affairs of the Owner or the Property, to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition, and other factors beyond the control of the Owner or Franklin Street Real Estate Services, LLC. Therefore, all projections, assumptions, and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to all interested and qualified prospective purchasers. Neither the Owner or Franklin Street Real Estate Services, LLC. , nor any of their respective directors, officers, affiliates or representatives are making any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your own investigations and inspections of the Property in evaluating a possible purchase of the real property.The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase Property, and/or to terminate discus-sions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or ob-ligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered, and approved by the Owner and any obligations therein have been satisfied or waived.By receipt of the Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confi-dence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or the Franklin Street Real Estate Services, LLC. Furthermore, you agree not to use this Memorandum or any of its contents in a manner detrimental to the interest of the Owner or Franklin Street Real Estate Services, LLC.In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are so advised and expected to review all such summaries and other docu-ments of whatever nature independently and not to rely on the contents of this Memorandum in any manner.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR FRANKLIN STREET REAL ESTATE SERVICES, LLC AGENT FOR MORE DETAILS.
Jim ReedDirector, Multifamily Investment [email protected]
VALDOSTA TOWNHOMES
Presents
Franklin Street3
Area Overview Financial Overview Comparables About Franklin StreetInvestment Summary
VALDOSTA TOWNHOMES
Jim ReedDirector, Multifamily Investment [email protected]
PROPERTY DESCRIPTIONFranklin Street is pleased to present this bulk offering of 12 fee simple townhouse units located in the Whispering Pines neighborhood of Valdosta, Georgia.
The townhouses are in a single-family residential neighborhood on Toni Terrace, Ricardo Street and Langdale Drive, all within a few minutes of each other. The
portfolio consists of 12 spacious two-bedroom/one-bathroom units from 1,011 to 1,108 square feet for a total of 13,000 rentable square feet.
The properties were built between 1981 and 1985 of wood frame construction with composite siding and gable roofs covered in composite shingles. The units
feature central heating and air conditioning, off-street parking, private patios and back yards, perfect for pets and family activities.
The units are currently renting for $550 per month. The portfolio is being offered with an attractive $54,167 per unit. Tenants pay all utilities and, with low
taxes, insurance and operating expenses, the investor will see a first-year net operating income of $47,000.
INVESTMENT HIGHTLIGHTS• 12 Townhouse portfolio
• Built between 1981 and 1985
• Two Bedroom Units Are Ideal For The Area Demographics
• Tenants pay all utilities
• Washer/dryer hook-ups
• $54,167 Per Unit
4Presents
Franklin Street
Area Overview Financial Overview Comparables About Franklin StreetInvestment Summary
VALDOSTA TOWNHOMES
LOCATION & PARCEL DETAIL
Address: Toni Ter., Ricardo St., Langdale Dr.
City, State ZIP: Valdosta, GA 31601
County: Lowndes
Parcel/Folio: 12 Parcels
Submarket: Whispering Pines
Walk Score R : Car Dependent (22)
SITE DETAIL
No. of Units: 12 Units
No. of Buildings: 6 Buildings
No. of Stories: 2 Stories
Year Built: 1981-1985
Rentable Sq Feet: 13,000
Lot Size: 0.86 Acres
CONSTRUCTION DETAIL
Framing: Wood Frame
Exterior Wall: Composite Siding
Roof Structure: Wood Truss
Roof Cover: Composite Shingle
HVAC: Central Heat & Air Conditioning
Asking Price $1,699,000
Price Per Unit $53,094
Price Per Sq Ft $51.80
PRICING SUMMARY
PARKING DETAIL
Paving: Concrete
Parking Spaces: 24 Parking Spaces
Spaces per Unit: 2.00
LIST PRICE
Price: $650,000Price Per Unit: $54,167
Price Per Sq Ft: $50.00
Presents
Franklin Street5
Investment Overview Area Overview Financial Overview Comparables About Franklin StreetArea Overview
VALDOSTA TOWNHOMES
CONSTRUCTION DETAIL
Framing: Wood Frame
Exterior Wall: Composite Siding
Roof Structure: Wood Truss
Roof Cover: Composite Shingle
HVAC: Central Heat & Air Conditioning
NEIGHBORHOOD MAP
Langdale Dr.
Toni Terrance
Ricardo Street
6Presents
Franklin Street
Investment Overview Area Overview Financial Overview Comparables About Franklin StreetArea Overview
VALDOSTA TOWNHOMES
PROPERTY PHOTOS
Lang
dale
Driv
e Ri
card
o St
reet
To
ni Te
rrace
Presents
Franklin Street7
Investment Overview Area Overview Financial Overview Comparables About Franklin StreetArea Overview
VALDOSTA TOWNHOMES
1/4 Mile 1/2 Mile 1 MilePOPULATION
Estimated Population (2016) 497 4,507 13,200
Projected Population (2021) 480 4,376 12,825
Census Population (2010) 505 4,450 12,853
Census Population (2000) 414 3,847 11,278
HOUSEHOLDS
Estimated Households (2016) 190 1,789 4,824
Projected Households (2021) 203 1,919 5,172
Census Households (2010) 189 1,719 4,557
Census Households (2000) 159 1,449 4,059
INCOME
Estimated Per Capita Income $18,019 $15,329 $14,413
Estimated Median Household Income $34,951 $30,652 $29,633
Estimate Average Household Income $47,118 $38,360 $38,772
DEMOGRAPHICS
8Presents
Franklin Street
Investment Overview Area Overview Investment Overview Comparables About Franklin Street
Investment Overview
Financial Overview
VALDOSTA TOWNHOMES
UNIT MIX
Address Unit Type Sq Feet Current Rent Rent/Sq Foot 1714 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1716 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1718 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1720 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1722 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1724 Toni Ter 2Bdr 1.5Bath, Townhome 1108 $550 $0.50
1472 Ricardo St 2Bdr 1.5Bath, Townhome 1106 $550 $0.50
1474 Ricardo St 2Bdr 1.5Bath, Townhome 1106 $550 $0.50
1106 Langdale Dr 2Bdr 1Bath 1011 $550 $0.54
1108 Langdale Dr 2Bdr 1Bath 1011 $550 $0.54
1113 Langdale Dr 2Bdr 1Bath 1059 $550 $0.52
1114 Langdale Dr 2Bdr 1Bath 1059 $550 $0.52
Total: 12 Weighted Averages: 13,000 $550 $0.51
Current Potential MonthlyGross Rent
$6,600
Current AnnualGross Potential Rent
$79,200
1Bdr 1Bath, 100.00%
2
Presents
Franklin Street9
Investment Overview Area Overview Investment Overview Comparables About Franklin StreetFinancial Overview
VALDOSTA TOWNHOMES
INCOME & EXPENSES
INCOME % PER UNIT TOTAL
Gross Potential Rent (GPR) $6,600 $79,200
Gross Potential Income (GPI) $6,600 $79,200
ECONOMIC LOSS % PER UNIT TOTAL
Market Vacancy (-) 10% ($660) ($7,920)
Effective Gross Income (EGI) $5,940 $71,280
EXPENSES % PER UNIT TOTAL
Taxes (1) 9.90% $588 $7,057
Insurance 6.73% $400 $4,800
Utilities 0.00% $0 $0
Repairs & Maintenance 6.73% $400 $4,800
Management Fees 8.00% $475 $5,702
General & Administrative 0.70% $42 $500
Marketing & Leasing 0.70% $42 $500
Miscellaneous Expenses 1.68% $100 $1,200
Total Expenses 34.45% $2,047 $24,559
Net Operating Income (NOI) $3,893 $46,721
(1) Pro Forma Taxes are based on 100% of List Price x 2016 Millage Rate
10Presents
Franklin Street
Investment Overview Area Overview Financial Overview Comparables About Franklin Street
VALDOSTA TOWNHOMES
ACHIEVING RESULTS THROUGH COLLABORATIONFounded in 2006 during one of the toughest real estate climates, Franklin Street has blossomed into one of the fastest-growing full-service commercial real estate firms in the Southeast, with offices in Tampa, Atlanta, Jacksonville, Orlando, Miami, and Fort Lauderdale.Our family of real estate companies - which include Investment Sales, Tenant and Landlord Representation, Capital, Insurance, Management, and Valuation - is focused on delivering value-added solutions to the evolving demands of our clients.
OUR MISSION STATEMENTFranklin Street and our family of full-services companies are committed to providing supreme advisory services for our clients through the collaboration of each member in our team of professionals.By embracing technology and the development and recruitment of top-level employees, we are able to deliver precise and accurate information to help clients make the most successful decisions in real estate, insurance, capital, management and valuation.
INVESTMENT SALES
INSURANCE SERVICES
MANAGEMENT SERVICES
PROPERTY MANAGEMENT
VALUATION ADVISORY COLLABORATION
TENANTREPRESENTATION
LANDLORD
ABOUT FRANKLIN STREETOur Services
Presents
Franklin Street11
Investment Overview Area Overview Financial Overview Comparables About Franklin StreetAbout Franklin Street
VALDOSTA TOWNHOMES
2011 2012 2013 2014 2015 2016
YEAR
TRANSACTION VOLUME
$736
,514,3
61
TRANSACTION VOLUME
E
ATLANTA
MIAMI
FT.LAUDERDAL
JACKSONVILLE
TAMPA
ORLANDO
Caribbean
FTE
Closed Transactions: Investment Sales, Insurance
Franklin Street Offices
Clients Represented: Tenant, Landlord, Management, and Valuation
E
ATLANTA
MIAMI
FT.LAUDERDAL
JACKSONVILLE
TAMPA
ORLANDO
Caribbean
FTE
MultifamilyRetailIndustrialOffice
MARKET EXPERTISE
30 MILLION SFOF COMMERCIAL PROPERTY
REPRESENTATION OF
70 RETAILERS IN 9 STATESLOCAL, REGIONAL, AND NATIONAL CLIENTS
MORE THAN $500 MILLIONIN LOAN ORIGINATIONS
2016 TENANT TRANSACTIONS TOTALING$42+ MILLION OFFICE AND INDUSTRIALLOCAL, REGIONAL, AND NATIONAL CLIENTS
ALL ASSET TYPES THROUGHOUT THE U.S.
7.8 MILLION SQUARE FEETPROPERTY MANAGEMENT
$10+ BILLION IN VALUATIONS6,500 ASSIGNMENTS COMPLETED
13 MILLION SQUARE FEETLANDLORD REPRESENTATION
LOCAL, REGIONAL, AND NATIONAL CLIENTS
FranklinSt.com
EXCLUSIVELY LISTED BY
FRANKLIN STREET RETAILINVESTMENT SALES TEAM
Greg MatusSr. Vice President, Investment Sales954.671.1821
https://franklinst.com/our-services/business-lines/investment-sales/our-team
Kurt KeatonPresident, Real Estate [email protected]
Hernando PerezDirector, Investment Sales786.245.0499 [email protected]
Dan DratchAssociate, Investment [email protected]
Darron Kattan *FS Broker of Record in GAManaging Director813.658.3355 [email protected]
Zachary AmesDirector813.288.6676 [email protected]
Robert GoldfingerManaging Director813.658.3353 [email protected]
Ricky JonesDirector404.991.3446 [email protected]
Kevin KelleherSenior Director813.658.3358 [email protected]
Matthew KestersonSenior Director904.271.4120 Ext: [email protected]
Jake ReidSenior Director404.832.1255 [email protected]