alpharetta, ga 30022 770.481.1960 ...dream wings 1,700 6.12% jan-11 dec-19 $20,867 $12.27 gross 3%...

5755 North Point Parkway, Suite 262

Alpharetta, GA 30022

770.481.1960

www.shanegroup.net

CASCADE HEIGHTS

2280 Cascade Road, Atlanta, GA

http://www.shanegroup.net

2280 Cascade Road, Atlanta, GA 770.481.1960 | www.shanegroup.net

CASCADE HEIGHTS


CASCADE HEIGHTS

See accompanying Confidentiality Statement.

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Cascade Heights is a 27,770 square foot Wells Fargo anchored retail shopping center located in the highly sought after Cascade

Heights neighborhood of southwest Atlanta. The center is currently 100% occupied and Wells Fargo Bank just renewed their lease

for a fresh five year term. The additional shop spaces are leased to a diverse mix of local tenants, including a local pharmacy who

just executed a brand new three year lease to bring the occupancy to 100%. Wells Fargo has been at this location since 2006, and

their recent renewal extends their lease for an additional five years through 2021. This branch is equipped with a drive-thru.

Wells Fargo—Recent Extension Through 2021 Exceptional Subdivisions and Homes Nearby Dense Population: 76K Residents in 3 Miles Historic Atlanta Revitalization Area Famous Atlanta Residents: Hank Aaron, Andrew Young Drastically Under Retailed Area: 8 SF of retail per person,

compared to Atlanta average of 67 SF per person

Cascade Heights is an exceptional in town neighborhood of Atlanta, boasting a who’s who of famous Atlantans, exceptional homes,

and a business district targeted for revitalization. Famous Cascade Heights residents include Hank Aaron, former Atlanta Mayors

Shirley Franklin and Andrew Young, as well as Congressman John Lewis. The commercial center serves numerous well-established,

historic neighborhoods and is one of a series of commercial nodes along the Cascade Road corridor. The area is densely populated,

with over 76,000 people residing within 3 miles of the center, and is home to several high-end subdivisions. The city of Atlanta has

recently proposed a comprehensive redevelopment plan for the district, with several of the plan’s proposals being implemented,

including the improvement of sidewalks, streetscapes, and new lighting along Cascade Road. New developments and renovations

are planned for the area, including the construction of new retail and restaurant space that is slated to begin construction in late

2016 and early 2017.

BUILDING: 27,770 SF | LAND: +/- 2.19 ACRES | YEAR BUILT: 1953 (Renovated 2007)


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Retail SF per Person

National Average: 46.6 SF

Atlanta Average: 67.2 SF

Total SF of Retail per

Person (2 mile radius):

8.3 SF


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Subject

Downtown Atlanta


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Subject


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Note: Lot lines are approximated.


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SPRING PARK

AUDUBON ESTATES


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START EX PIRAT ION

Service Station 2,000 7.20% Aug-84 Dec-19 $21,221 $10.61 Gross 4% 1768.4

Wells Fargo Bank 3,570 12.86% Jun-06 Dec-21 $90,714 $25.41 Gross None 7559.48

Dancemaker's Studio 6,500 23.41% Aug-08 Aug-19 $60,000 $9.23 Gross None 5000

Big Daddy's Café 1,700 6.12% Jan-96 Aug-19 $22,200 $13.06 Gross 3% in 2018 1850

Eldrico Contractor's 1,500 5.40% Oct-16 Sep-19 $12,000 $8.00 Gross 10% in 2018 1000Source

Frills Hair Salon 1,800 6.48% Jan-13 Nov-18 $19,669 $10.93 Gross 3% in 2017 1639.1

Dream Wings 1,700 6.12% Jan-11 Dec-19 $20,867 $12.27 Gross 3% 1738.91

Metro PCS 2,600 9.36% Oct-16 Sep-19 $28,800 $11.08 Gross 4% 2400

Louisiana Seafood 2,400 8.64% Dec-11 Jun-17 $27,518 $11.47 Gross None 2293.2

Peach Script Pharmacy 2,000 7.20% Mar-17 Apr-20 $24,000 $12.00 Gross 5% 2000

The Tax Prep Co. 2,000 7.20% Jan-16 Dec-20 $24,000 $12.00 Gross None 2000

Billboard Aug-08 Jul-18 $1,000

27,770

Occupied 100% 27,770 100.00% $351,989 $12.68

$351,989

2270

ANNUAL

RENT/SQ. FT. ESCALATIONS

ESTIMATED

RECAPTURE

SQUARE

FOOTAGE

ANNUAL

BASE RENT

% OF

CENTER

LEASE TERM

SUITE

2292

2282

2284

2286

2290

2296

2298

2308

TENANT

2280

2310


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B u i l d i n g

Price: 1953 / Renovated 2007

Down Payment: 30.00% Building Square Feet: 27,770

8.44% Land Parcel (Acres): +/ 2.19

9.87%

$111.63

$12.68

First Loan Amount: n

n Interest Rate: 4.85% n

n Amortization: 20 n

n Term: 5 n

Monthly Payment: n

n

Current Rents

351,989$ 22,049$

- 5,500

- 9,720

351,989$ 5,306

17,599 5.0% 4,108

334,390$ Tenants

72,866 Janitorial 7,939

261,523$ 4,166

169,702 Management 4.0% 14,080

91,821$ 9.9%

65,909

157,731$ 17.0% 72,866$

Per Rentable Square Foot: $2.62

T e n a n t s

Louisiana Seafood

$14,141.84

R e t u r n

Net Operating Income

Loan information is for analysis purposes only. Buyer may

obtain new loan or none at all.

Peach Script Pharmacy

E x p e n s e s

Scheduled Gross Income

Plus Overage

Capital Reserves ($0.15 PSF)

Taxes

Maintenance

Insurance

Utilities

Trash Removal

Landscaping/Sweeping

Plus Principal Reduction

Loan Payments

Annual Rent per Square Foot:

$2,170,000

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

Pre Tax Cash Flow

Gross Operating Income

Total Income

Plus Recapture

Total Return Before Taxes

Less Vacancy

Total Expenses

$3,100,000

The Tax Prep Co.

Return on Equity:

Cost per Gross Square Foot:

Wells Fargo Bank

Service Station

Dancemaker's Studio

Less Expenses

$930,000

Year Built:

Current CAP:

F i n a n c i a l


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Subject

https://www.google.com/maps/place/2280+Cascade+Rd+SW,+Atlanta,+GA+30311/@33.7265746,-84.4862865,14z/data=!4m5!3m4!1s0x88f51ce15b5569cd:0x85c8216d8c39ecab!8m2!3d33.7218976!4d-84.4632927


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RETAIL MARKET Average HH Income:

$68,000—$116,000


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One Mile Three Miles Five Miles

2016 Population 4,777 76,519 217,948 2010 Population 4,704 73,489 207,090 5 Year Projected 4,939 80,103 229,101 Growth Over the Past 6 Years 1.55% 4.12% 5.24%Projected Growth Over the Next 5 Years 3.39% 4.68% 5.12%

2016 Households 1,933 30,645 84,413 % Owner Occupied 52.20% 32.70% 27.70%% Renter Occupied 33.20% 46.40% 50.50%2010 Households 1,921 29,665 80,981 5 Year Projected 1,989 31,959 88,631 Growth Over the Past 6 Years 0.62% 3.30% 4.24%Projected Growth Over the Next 5 Years 2.90% 4.29% 5.00%

2016 Average Household Income $56,479 $43,911 $44,275 5 Year Projected $61,761 $47,130 $47,589 Projected Growth Over the Next 5 Years 9.35% 7.33% 7.49%

Employment & Establishments

2016 Employees/Daytime Population 1,308 18,398 184,018 2016 Total Establishments 186 2,471 11,168

White 1.80% 5.20% 7.50%Black 95.60% 91.10% 87.30%Hispanic Origin (Any Race) 1.20% 3.00% 4.50%American Indian/Eskimo 0.30% 0.20% 0.20%Asian/Pacific Islander 0.30% 0.40% 0.80%Two or More Races 1.80% 1.80% 1.90%Other Race 0.30% 1.30% 2.20%

Race

Population

Households

Income

alpharetta, ga 30022 770.481.1960 ...dream wings 1,700 6.12% jan-11 dec-19 $20,867 $12.27 gross 3%...

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