chesterfield retail at afton village fully leased retail ......chesterfield retail at afton village...
TRANSCRIPT
CHESTERFIELD RETAIL at Afton VillageFully Leased Retail, Portfolio or Single Tenant Investment F O R S A L E
Chris D. Orr 704-619-7554 [email protected]
Concord, NC
The Chesterfield Building - Offering
Investment can be purchased as portfolio or as individual units
INVESTMENT DETAIL- ENTIRE PORTFOLIO
PRICE $962,000
NOI $76,935
CAP 8
SQUARE FEET 4,928 SQ FT
TENANTS 3- Grimsley Jewelry, Planet Ballroom, Round 9
INVESTMENT TYPE Absolute Net
OCCUPANCY 100%
The Chesterfield Building – Tenant Breakdown
Investment can be purchased as portfolio or as individual units
Grimsley Jewelry- 5405 Village Dr NW
PRICE $373,000
NOI $29,835
CAP 8
SQUARE FEET 1,300 SQ FT
TENANT Grimsley Jewelry
LEASE EXPIRATION 3/31/22
The Chesterfield Building – Tenant Breakdown
Investment can be purchased as portfolio or as individual units
Round 9 & Planet Ballroom- 5415,5419 Village Dr NW
PRICE $588,750
NOI $47,100
CAP 8
SQUARE FEET 3,628 SQ FT
TENANT Round 9 & Planet Ballroom (these two suites must be purchased together)
LEASE EXPIRATION Planet Ballroom- 10-31-21Round 9- 12-31-23
The Chesterfield Building – Market
Description
The Chesterfield Building at Afton Village. The Chesterfield Building is a 3-story, residential-over-commercial
mixed-use building. Striking architecture of stucco and brick. The offering includes 7 tenants in place multiple
year leases and varied lease expirations.
Neighborhood and Area
Afton Village is a mixed-use neighborhood developed in the Traditional Neighborhood Design (TND) genre,
located at the intersection of I-85 & George Liles Parkway (exit 54) in Concord, NC. Afton Village contains
over 380 residential units including condominiums, townhomes, and single family homes featuring front
porches and timeless designs. Commercial components include YMCA, 7 restaurants, various medical clinics
and unique specialty stores. Located immediately across I-85 is Afton Ridge Shopping Center containing
325,000 square feet. Anchors include Super Target, Dick’s, Best Buy, Marshalls, Pet Smart, etc. The newly
opened Kannapolis Parkway serves as a 4 lane entrance to the NC Biotechnology Center, a $700 million
biotech research. ( www.ncbiotech.org ) Developments in the immediate area include a new retirement
village, high-end neighborhoods, a prominent private school (Cannon School) & new charter school.
The Chesterfield Building
• Largest and most recognizable building in Afton Village.
• Commercial ground floor. Residential condominium 2nd and 3rd floor.
• Parking: On street and private lots. Equivalent to 6 spaces per 1,000 square of
commercial space (plus parking for residential)
• TICAM includes HVAC quarterly maintenance. Does not include anchor-shortfall
component, common in traditional centers.
The Chesterfield Building - Market
The Chesterfield Building -Notes
Deal Highlights
• Absolute Net Leases.
• Heavy parking for commercial uses
• Staggered lease expirations which help with investor risk
• Located within one of the hottest growth areas of the Charlotte, NC Metro
• Two contiguous units for contraction and expansion of now and future Tenants
• Large Customer base located within Afton Village for Tenants
The Chesterfield Building – Offering Highlights
L O C A T I O N CHESTERFIELD RETAIL PORTFOLIO
AFTON VILLAGE RETAIL PORTFOLIO
CHESTERFIELD RETAIL PORTFOLIOat Afton Village
Concord NC
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