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The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOURMARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Activity ID: X0780047

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PRICING & FINANCIAL ANALYSIS

THE OFFERINGProperty 0.94 Acre SiteProperty Address 12300 Hampton Way Drive

Wake Forest, NC 27587Price $425,000Price/Acre $451,455Price/SF $10.38

INVESTMENT OVERVIEW

ZONING USESResidential

Live-Work Units

Residential Care Facilities (More than 6 Residents)

Lodging: Boarding or Rooming House (12 or Less Persons)

Hotel/Inn (Less than 20 Rooms)

Hotel/Inn (No Room limit)

Office/Service:ATM

Banks, Credit Unions, Financial Services

Dry Cleaning & Laundry Services

Funeral Homes/Crematoria

Home Occupation

Medical Clinic

Personal Service

PostOffice

Professional Services

Small Equipment Repair/Rental

Veterinary Services

PROPERTY DESCRIPTIONAssessor’s Parcel Number 1831512658Lot Size (Acres) 0.94 AcresLot Size (SF) 40,946 SFBuildable SF 40,946 SFNumber of Lots One (1)Zoning HBTaxes $4,803.90Tax Year 2018Type of Ownership Fee Simple

ZONING USESCommercial/Entertainment:

Alcoholic Beverage Sales

Amusements, Indoor & Outdoor

Bar/Tavern

General Commercial

Night Club

Outside or Display Sales

Open Air Retail

Pawnshops

Restaurant

Theater Indoor & Outdoor

Civic: Cemetery

Civic Meeting Facilities

Community Facility

Conference/Convention Center

Public Safety Station

Recreation Indoor & Outdoor

Religious Institution

Sports Arena/Stadium

ZONING USESEducational/Institutional:

Child/Adult Day Care Home (8 or Less Persons)

Child/Adult Day Care Center (More than 8 Persons)

Community Support Facility

Hospital

Schools – Elementary & Secondary

Studio – Art, Dance, Martial Arts, Music

Automotive:Drive-Thru/Drive-In

Gas/Fueling Station

Heavy Equipment/Manufactured Home Rental/Sales

Parking Lot/Structure

Vehicle Rental/Leasing/Sales

Industry/Wholesale/Storage:Industry, Light

Light Manufacturing Workshops

Recycling Collection Station

Storage

Infrastructure:Wireless Telecommunications Tower & Facility

Utilities – Class 1, 2, 3

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PROPERTY DESCRIPTION

Marcus & Millichap is pleased to present for sale a 0.94 acre land parcel located in Wake Forest, North Carolina. The subject property is adjacent to a dark Food Lion anchored retail center with strong sales. The property has 296 square feet of frontage on Hampton Way with multiple access points: Hampton Way and Cloverleaf Drive. The property is zoned HB allowing for multiple uses (site plan example in the Offering Memorandum).

The subject property is surrounded by national and local businesses including Food Lion, Habitat for Humanity Restore, BB&T, Target, and the HomeDepot.Averagetrafficcountssurroundingthepropertyare36,000VPD (Capital Boulevard - US 98 intersection) and 18,000 VPD (US 98 and Cloverleaf Drive). Located near the interchange for US Route 1 and Highway 98, the subject property is two miles from Downtown Wake Forest and 16 miles from Downtown Raleigh.

Wake Forest is located in both Franklin and Wake County, but is almost entirely in Wake County. Located just north of Raleigh, Wake Forest is one of the fastest growing suburbs in America according to Forbes. The city is included in the Raleigh-Durham-Chapel Hill Combine Statically Area (CSA) which has a population of 2,037,430.

PROPERTY OVERVIEW• 0.94 Acre Site | Adjacent to Food Lion Retail

Center with Strong Sales/Daily Shoppers

• HB Zoning Allows for Multiple Uses

• 296 SF of Frontage on Hampton Way | Multiple Access Points - Hampton Way and Cloverleaf Drive

• Near Interchange for US-1 and Hwy 98

• Surrounded by National and Local Businesses

• 75,000 People Within Five Miles

• $94,500 Average Household Incomes within Five Miles

• Two-Miles to Downtown Wake Forest | 16-Miles to Downtown Raleigh

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SITE PLAN

Wakefield High 9th Grade Center

McDonald’s

Raleigh Capitol Ear, Nose & Throat

Wake Foot & Ankle Center

Mckenzie’s Bar & GrillKJ Shoe Repair

Kathryn S Drake Attorneys at Law

Walgreens

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SALES COMPARABLES

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Sold Date Address City Sold Price Acres Price/Acre Notes1 7/13/2018 Rogers Rd, Lot 500 Wake Forest $1,100,000 1.50 $733,333.33 Raw Land2 5/16/2018 907 Gateway Commons Cir Wake Forest $1,325,000 1.68 $788,690.48 Gateway Commons Outparcel3 7/13/2017 911 Gateway Commons Cir Wake Forest $924,000 1.34 $689,552.24 Rough Graded4 5/30/2017 2811 Rogers Rd Wake Forest $880,000 1.40 $628,571.43 Raw Land5 9/12/2016 12051 Retail Dr Wake Forest $900,000 3.51 $256,410.26 Plans to develop hospitlaity building

$1,025,800 1.89 $619,311.55

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RALEIGHOVERVIEW

The Raleigh-Durham-Chapel Hill metro is located in the north-central portion of North Carolina where the North AmericanPiedmont and Atlantic Coastal Plain regions join. The area isapproximately two hours west of the Atlantic Ocean and four hourseast of the Appalachian Mountains. The metro is composed of 11counties: Wake, Durham, Johnston, Chatham, Orange, Franklin,Harnett, Vance, Granville, Lee and Person. The market has apopulation of nearly 2.2 million people, nearly half of whom live inWake County. Raleigh, home to the state capitol, is the mostpopulous city in the metro with approximately 458,000 citizens.Durham is the second largest with 260,800 residents.

METRO HIGHLIGHTS

HIGHLY SKILLED WORKFORCENumerous world-renowned colleges and universities are located in the metro and contribute to an educated labor pool.

AFFORDABLE COST OF LIVINGA metro median home price of roughly $265,000 is lower than many other East Coast communities.

HIGH-TECH EMPLOYMENTThe Research Triangle Park attracts and fosters high-tech and biotechnology firms.

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MARKET OVERVIEW

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MARKET OVERVIEW

ECONOMY Primary to the Raleigh-Durham-Chapel Hill economy is the Research Triangle Park (RTP),

spanning 7,000 acres and home to more than 200 global companies that employ roughly50,000 workers.

In addition to a thriving life-sciences sector, the metro is home to one of the fastest-growingCleanTech clusters, with a host of companies focused on smart grid technologies, electricvehicles and renewable energy.

The metro ranks high in tech jobs, partially attributed to three Tier 1 universities: DukeUniversity, North Carolina State University and University of North Carolina at Chapel Hill.

MAJOR AREA EMPLOYERS

Duke University and Health System

IBM Corp.

WakeMed Health and Hospitals

Cisco Systems Inc.

Rex Healthcare

SAS Institute Inc.

GlaxoSmithKline

Affiliated Computer Services

Wells Fargo

Blue Cross Blue Shield of North Carolina* Forecast

SHARE OF 2017 TOTAL EMPLOYMENT

MANUFACTURING6%

GOVERNMENT

HEALTH SERVICESEDUCATION AND

+OTHER SERVICES

4%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

18%AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL ANDBUSINESS SERVICES

3%INFORMATION

20%

6%

15% 11% 5%

12%

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MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

The metro is projected to add nearly 210,000 people over the next five years,which will result in the formation of 90,000 households.

A median home price of $265,000 allows 64 percent of households to own theirhomes, on par with the national level.

Roughly 43 percent of people age 25 and older hold a bachelor’s degree; amongthese residents, 17 percent have also earned a graduate or professional degree.

Situated on rolling hills between the Atlantic coast beaches and the AppalachianMountains, the Raleigh-Durham-Chapel Hill region provides a wide variety of outdooractivities. Sports enthusiasts follow the Atlantic Coast Conference rivalry among theUniversity of North Carolina, Chapel Hill, North Carolina State and Duke. Also, theNHL’s Carolina Hurricanes play in Raleigh and minor league baseball is represented bythe Durham Bulls and the Carolina Mudcats. The region also provides many culturalopportunities, such as the Carolina Theater, Carolina Ballet, North Carolina Symphonyand NC Opera. Venues include the Durham Performing Arts Center, the Time WarnerCable Music Pavilion at Walnut Creek and the Raleigh Amphitheatre and Festival Site.

QUALITY OF LIFE

* Forecast Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

36.42017

MEDIAN AGE:

U.S. Median:37.8

$59,100 2017 MEDIAN

HOUSEHOLD INCOME:

U.S. Median:$56,300

2.2M2017

POPULATION:

Growth2017-2022*:9.6%

840K2017

HOUSEHOLDS:

10.7%Growth

2017-2022*:

2017 Population by Age

0-4 YEARS

6%5-19 YEARS

21%20-24 YEARS

7%25-44 YEARS

29%45-64 YEARS

26%65+ YEARS

12%

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DEMOGRAPHIC ANALYSIS

1 Mile 3 Mile 5 Mile2000 Households 514 5,658 10,4712010 Households 1,076 11,728 24,2162014 Households 1,153 12,993 26,9952019 Households 1,327 15,403 32,138

1 Mile 3 Mile 5 Mile2010 Owner Occupied Housing Units 60.91% 63.67% 72.18%2010 Renter Occupied Housing Units 31.16% 28.26% 20.81%2014 Owner Occupied Housing Units 64.77% 68.79% 75.84%2014 Renter Occupied Housing Units 35.23% 31.21% 24.16%2019 Owner Occupied Housing Units 66.28% 68.69% 75.59%2019 Renter Occupied Housing Units 33.72% 31.31% 24.41%

1 Mile 3 Mile 5 Mile2000 Population 1,365 15,306 1,3652010 Population 3,211 32,173 68,0082014 Population 3,423 35,584 75,8552019 Population 4,034 42,116 90,013

1 Mile 3 Mile 5 Mile$ 0 - $ 14,999 6.6% 7.9% 7.2%$ 15,000 - $24,999 8.5% 9.1% 7.7%$ 25,000 - $34,999 10.65% 9.3% 8.3%$ 35,000 - $49,999 14.9% 13.4% 13.0%$ 50,000 - $74,999 18.0% 16.3% 17.1%$ 75,000 - $99,999 11.4% 13.1% 14.4%$100,000 - $124,999 9.0% 9.3% 10.3%$125,000 - $149,999 6.2% 6.6% 7.7%$150,000 - $200,000 8.0% 7.6% 7.7%$200,000 to $249,999 2.9% 3.2% 3.0%$250,000 + 3.9% 4.2% 3.7%Median HH Income $63,626 $65,654 $70,076Per Capita Income $32,066 $35,108 $34,187Average HH Income $93,998 $95,860 $95,914

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Exclusively listed by:

OFFICES NATIONWIDEwww.marcusandmillichap.com

Andrew MarguliesFirst Vice President | InvestmentsSenior Director, National Retail GroupCell: (312) [email protected] License: 264059IL License: 475147606

OFFERING MEMORANDUM 0.94 ACRE SITE

Documents

Transcript of OFFERING MEMORANDUM 0.94 ACRE SITE