Friends Winder Grill / Nelson Sanders Portraits · 2018-04-25 · Portrait Studio Second Office...

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

FRIENDS WINDER GRILL /

NELSON SANDERS

35 N Broad Street, Winder (Atlanta MSA), GA

http://www.shanegroup.net

35 N Broad Street, Winder (Atlanta MSA), GA 770.481.1960 | www.shanegroup.net

FRIENDS WINDER GRILL / NELSON SANDERS PORTRAITS



See accompanying Confidentiality Statement.

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This offering provides a unique opportunity for an owner/investor to acquire a 2-tenant building with stable, long-term tenants. Friends Winder Grill and Nelson Sanders Portraiture occupy the street level retail, each with new 10-year lease terms. The current NOI is $125,000 with each tenant paying their prorata share (based on the retail level only) of the total CAM/Taxes/Insurance for the entire property. The property is located in downtown Winder, directly across from the Barrow County Court House and surrounded by other city and county government offices. This building is zoned B-2 General Commercial which allows for a variety of commercial uses and even residential use on the second level with the approval of the zoning board. The 9,482 square foot second level is currently unused and unfinished. No projected income from this level has been included in this offering. To utilize the second level, an investor would need to address access and fire safety exit requirements and structural improvements will be required to insure adequate support for future uses. If an investor chooses to finish the second level, this would add additional income and value to this property. But even if an investor chooses not to finish the second level, the property is currently providing an 8.62% return on current income.

2-Tenant Building-Low Management Responsibility 10 year Lease Terms-Established Businesses Excellent Downtown Winder Location Current NOI of $125,000

Winder is a prosperous and growing community located in Barrow County, part of the Atlanta Metropolitan

Statistical Area. Barrow County is the 24th fastest growing county in the nation and has grown over 66%

from 2000 to 2010. There are over 135,000 people within the 10 mile trade area for this location with an

average HH income over $65,000. The area has a very strong daytime population of over 15,275 employees

within 5 miles and over 30,952 within 10 miles. Additionally, Winder is located only 20 minutes from Athens,

home of the University of Georgia, with over 35,000 students.

BUILDING: 19,464 SF | LAND: 0.228 ACRES | YEAR BUILT: circa 1919; RENOVATED 1940 & 2010




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Subject

https://goo.gl/5ocxYp




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Located in Downtown Winder

SUBJECT

Court House City Hall Annex City Hall




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Please note: Lot Lines are Approximate Public and Private Parking available

Subject




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Rear Elevation South Elevation

Front Sidewalk Front Elevation




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Friends Side Dinning Friends Main Dinning

Friends Bar Area Friends Reception Area




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Rear Hallway Rear Hallway

Main Entrance Friends Entrance and Waiting Area




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Portrait Studio Second Office Portrait Studio

Portrait Studio Reception Area Portrait Studio Office




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Barrow County Court House located directly across from property




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START EX PIRAT ION

Friends Winder Grill 7,152 36.74% Jan-17 Dec-26 $102,000 $14.26 $14,304 Fixed

Sanders Portraiture 2,830 14.54% Dec-16 Mar-27 $24,336 $8.60 $5,664 Fixed

Vacant 9,482 48.72%

19,464 $19,968

Occupied 51% 9,982 100.00% $126,336 $12.66 $19,968

Vacant 49% 9,482

The 2nd floor is currently unfinished space without direct access. Tenant's prorata share for

CAM/Taxes/Ins is based on the 1st floor square footage only.

$126,336

OPTIONS

3 x 5100

ANNUAL

RENT/SQ. FT. ESCALATIONS

ESTIMATED

RECAPTURE

SQUARE

FOOTAGE

ANNUAL

BASE RENT

% OF

CENTER

LEASE TERM

SUITE TENANT

110

2nd Floor

3 x 5




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B u i l d i n g

Price: 1940

Down Payment: 35.00% Building Square Feet: 19,464

9.00% Land Parcel (Acres): 0.23

$71.41

$12.66

First Loan Amount: n

n Interest Rate: 4.75% n

n Amortization: 20

n Term: 5

Monthly Payment:

Current Rents

126,336$ 5,610$

- 3,906

19,968 2,400

146,304$ -

- 3.0% 3,790

146,304$ -

21,206 3,600

125,098$ 400

70,064 1,500

55,034$ 11.3%

27,746

82,781$ 17.0% 21,206$

E x p e n s e s

Scheduled Gross Income

Plus Overage

Trash / Dumpster

Fire Sprinkler

Taxes

Less Expenses

Maintenance

Insurance

Utilities

Landscaping/Sweeping

Management

Pre Tax Cash Flow

Gross Operating Income

Total Income

Plus Recapture

Total Return Before Taxes

Less Vacancy

Total Expenses

Capital Reserves

Plus Principal Reduction

Loan Payments

Net Operating Income

Cost per Gross Square Foot:

Friends Winder Grill

Nelson Sanders Portraiture

T e n a n t s

Annual Rent per Square Foot:

$903,500

L o a n I n f o r m a t i o n

$5,838.63

R e t u r n

*Note: Loan Information is proposed for analyses purposes only.

Buyer may obtain new loan or complete an all cash acquisition.

$486,500

Year Built:

Current CAP:

F i n a n c i a l

$1,390,000




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Exclusive Use

Demised Premises

Current Term

Renewal Option

Security Deposit

Year Annual Base Rent

$102,000

HVAC

About the Tenant

HVAC reserve in CAM to pay for Tenant's repair/replacement of HVAC system

Landlord pays for Sprinkler System and Trash/Dumpster, recoverable as part of CAM

Friends has been at this location since mid-2014 and has entered into a new 10 year lease.

Friends is a neighborhood grill & bar locally owned and operated. In addition to this Winder

location, Friends has locations in Dacula, Dawsonville, Suwanee and Buford with 2 additional

locations planned for Grayson and Bethlehem, GA. Operating since 2010, Friends is a place for

good food and service, families and sports. Friends" growth is attributed to their customer loyalty,

and the restaurants continue to thrive because of repeat visits by their loyal customers

("regulars"). www.friendsamericangrill.com

Insurance Tenant pays monthly its prorata share base on a building area of 9,928 SFCAM Tenant pays monthly its prorata share base on a building area of 9,928 SF

Utilities Tenant responsible for gas, electricity, water, sewer and telecommunications

Controllable CAM fees shall not increase more than 5% in any one calendar year

Option Rent Five percent (5%) increase in Base Rent at beginning of each option period

Taxes Tenant pays monthly its prorata share base on a building area of 9,928 SF

January 1, 2017-December 31, 2027

Three (3) - five (5) year terms

Rent Schedule Monthly Base Rent

$8,500.00

None

1/1/2017-12/31/2027

Suite 100 / 7,152 SF

Tenant Friends Winder Grill, LLC

Trade Name/Use Friends / Restaurant

Guaranty None

None




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Exclusive Use

Demised Premises

Current Term

Renewal Option

Security Deposit

Year Annual Base Rent

$24,336

HVAC

About the Tenant

Suite 110 / 2,83 SF

Tenant Nelson Sanders

Trade Name/Use Nelson Sanders Portraiture / Portrait Studio

Guaranty Lease signed by individual

None

December 1, 2016-March 31,2027

Three (3) - five (5) year terms

Rent Schedule Monthly Base Rent

$2,028.00

None

4/1/2017-3/31/2027

Option Rent Five percent (5%) increase in Base Rent at beginning of each option periodTaxes Tenant pays monthly its prorata share base on a building area of 9,928 SF

Insurance Tenant pays monthly its prorata share base on a building area of 9,928 SFCAM Tenant pays monthly its prorata share base on a building area of 9,928 SF

Utilities Tenant responsible for gas, electricity, water, sewer and telecommunications

Controllable CAM fees shall not increase more than 5% in any one calendar year

Landlord pays for Sprinkler System and Trash/Dumpster, recoverable as part of CAM

HVAC reserve in CAM to pay for Tenant's repair/replacement of HVAC system

Nelson Sanders Portraiture has been in business for over 27 years and located in this building

since mid-2014. To secure the location Nelson Sanders has recently signed a new 10 year lease

which will not expire until 2027. The photography studio offers such services as Senior Portraits,

headshots, picture restoration, family portraits, individual portraits, Weddings, Bar/Bat Mitzvahs,

sporting events, dance and family events. www.nelsonsanders.com




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One Mile Five Miles Ten Miles

2016 Population 5,577 39,321 124,533 2010 Population 5,241 35,742 112,340 5 Year Projected 5,848 42,334 136,253 Growth Over the Past 5 Years 6.4% 10.0% 10.9%Projected Growth Over the Next 5 Years 4.9% 7.7% 9.4%

2016 Households 2,090 13,364 41,694 % Owner Occupied 30% 62% 72%% Renter Occupied 56% 29% 20%2010 Households 2,019 12,463 38,362 5 Year Projected 2,174 14,225 45,191 Growth Over the Past 5 Years 3.5% 7.2% 8.7%Projected Growth Over the Next 5 Years 4.0% 6.4% 8.4%

2016 Average Household Income $41,809 $60,244 $71,016 5 Year Projected $43,771 $65,784 $78,452 Projected Growth Over the Next 5 Years 4.7% 9.2% 10.5%

Employment & Establishments

2016 Employees/Daytime Population 5,477 15,565 32,067 2016 Total Establishments 684 1,639 3,476

White 65.9% 75.7% 77.3%African American 22.8% 12.7% 12.3%Hispanic Origin (Any Race) 10.7% 10.3% 9.2%Native American/Alaska Native 0.3% 0.3% 0.3%Asian/Pacific Islander 2.1% 3.7% 3.8%Two or More Races 3.6% 2.9% 2.6%Other Race 5.4% 4.7% 3.7%

Race

Population

Households

Income

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