afton village retail portfolio or individual tenants...chesterfield retail at afton village fully...
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CHESTERFIELDRETAILatAftonVillageFullyLeasedRetail,PortfolioorSingleTenantInvestmentFORSALE
Concord,NC
TheChesterfieldBuilding- Offering
Investment can be purchased as portfolio or as individual units
INVESTMENT DETAIL- ENTIRE PORTFOLIO
PRICE $1,300,000
NOI $97,868
CAP 7.5
SQUARE FEET 6,219 SQ FT
TENANTS 4- Grimsley Jewelry, Whit’s Frozen Custard, Planet Ballroom, Dance Expressions
INVESTMENT TYPE Absolute Net
OCCUPANCY 100%
TheChesterfieldBuilding– TenantBreakdown
Investment can be purchased as portfolio or as individual units
Grimsley Jewelry- 5405 Village Dr NW
PRICE $390,000
NOI $29,250
CAP 7.5
SQUARE FEET 1,300 SQ FT
TENANT Grimsley Jewelry
LEASE EXPIRATION 3/31/22
TheChesterfieldBuilding– TenantBreakdown
Investment can be purchased as portfolio or as individual units
Whit’s Frozen Custard- 5409 Village Dr NW
PRICE $327,053
NOI $24,529
CAP 7.5
SQUARE FEET 1,291 SQ FT
TENANT Whit’s Frozen Custard
LEASE EXPIRATION 4/30/22
TheChesterfieldBuilding– TenantBreakdown
Investment can be purchased as portfolio or as individual units
Dance Expressions & Planet Ballroom- 5415,5419 Village Dr NW
PRICE $587,853
NOI $44,089
CAP 7.5
SQUARE FEET 3,628 SQ FT
TENANT Dance Expressions & Planet Ballroom (one unit that must be purchased together)
LEASE EXPIRATION Planet Ballroom- 10-31-21Dance Expressions- 12-31-17
TheChesterfieldBuilding– Market
Description
TheChesterfieldBuildingatAftonVillage.TheChesterfieldBuildingisa3-story,residential-over-commercialmixed-usebuilding.Strikingarchitectureofstuccoandbrick. Theofferingincludes7tenantsinplacemultipleyearleasesandvariedleaseexpirations.
NeighborhoodandArea
AftonVillageisamixed-useneighborhooddevelopedintheTraditionalNeighborhoodDesign(TND)genre,locatedattheintersectionofI-85&GeorgeLilesParkway(exit54)inConcord,NC.AftonVillagecontainsover380residentialunitsincludingcondominiums,townhomes,andsinglefamilyhomesfeaturingfrontporchesandtimelessdesigns.CommercialcomponentsincludeYMCA,7restaurants,variousmedicalclinicsanduniquespecialtystores. LocatedimmediatelyacrossI-85isAftonRidgeShoppingCentercontaining325,000squarefeet.Anchors includeSuperTarget,Dick’s,BestBuy,Marshalls,PetSmart,etc.ThenewlyopenedKannapolisParkwayservesasa4laneentrancetotheNCBiotechnologyCenter,a$700millionbiotechresearch.( www.ncbiotech.org )Developmentsintheimmediateareaincludeanewretirementvillage,high-endneighborhoods,aprominentprivateschool(CannonSchool)&newcharterschool.
TheChesterfieldBuilding
•LargestandmostrecognizablebuildinginAftonVillage.•Commercialgroundfloor.Residentialcondominium2ndand3rdfloor.•Parking:Onstreetandprivatelots.Equivalentto6spacesper1,000squareofcommercialspace(plusparkingforresidential)•TICAMincludesHVACquarterlymaintenance.Doesnotincludeanchor-shortfallcomponent,commonintraditionalcenters.
TheChesterfieldBuilding- Market
TheChesterfieldBuilding-Notes
DealHighlights
•AbsoluteNetLeases.
•Threeofthefourtenantsleaseslongerthan4years
•Heavyparkingforcommercialuses
•Staggeredleaseexpirationswhichhelpwithinvestorrisk
•LocatedwithinoneofthehottestgrowthareasoftheCharlotte,NCMetro
•TwocontiguousunitsforcontractionandexpansionofnowandfutureTenants
•LargeCustomerbaselocatedwithinAftonVillageforTenants
TheChesterfieldBuilding– OfferingHighlights
LOCATION CHESTERFIELDRETAILPORTFOLIO
AFTONVILLAGERETAILPORTFOLIO
CHESTERFIELDRETAILPORTFOLIOatAftonVillage
ConcordNC
F O R M O R E I N F O R M A T I O N :
Chris Orr: [email protected] 704.619.7554