SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

OFFERING SUMMARY

Sale Price: $600,000

Number Of Units: 21

Cap Rate: 9.4%

NOI: $66,895

Lot Size: 2.7 Acres

Building Size: 23,000

Zoning: Multifamily

Price / SF: $5.10

21 Space park. All units are park owned rentals. Most of the units have been remodeled. Park is in a great location withsuper high demand. This park is stabilized and does great. Easy to manage. Park includes a second park very close bywhich has 15 spaces and 10 units. Site makes more sense as a redevelopment site. That park is a mess and is currentlyshut down. Units could be fixed up and repaired and rented out. Make an offer on one or both together. Proforma CAPrate is 9.44 and on actual is over 8.37% today. Rents are currently low and can be raised. Current ownership doesn'tcharge late fees also which would be additional revenue source. This site has great future redevelopment potential as well.Jernigans has dirt roads, county water and county sewer. The other parcel included in the sale is county water/sewer andpaved roads.

PROPERTY OVERVIEW

Fast growing Grovetown GA. This is one of fastest growing areas in the state. Fort Gordon is in close proximity and therehave been several parks torn down for redevelopment which has created significant demand for affordable housing in thearea. Great demographics. Columbia County near Augusta GA.

LOCATION OVERVIEW

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityEXECUTIVE SUMMARY

SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityADDITIONAL PHOTOS

SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

INCOME SUMMARY PROFORMA PER SF

Gross Potential Rent $102,600 $0.87Late Fees $925 $0.01Water Reimbursement $8,820 $0.07

Gross Income $112,345 $0.96

EXPENSE SUMMARY PROFORMA PER SF

Insurance $3,250 $0.03Property Taxes $1,700 $0.01Mobile Home Taxes $1,900 $0.02Onsite Manager $7,000 $0.06Management Fee $9,000 $0.08Grounds $2,400 $0.02Repairs & Maintenance $5,000 $0.04Electric $700 $0.01Water $14,000 $0.12Legal Fees $500 $0.00

Gross Expenses $45,450 $0.39

Net Operating Income $66,895 $0.57

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityINCOME & EXPENSES

SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityLOCATION MAPS

SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

POPULATION 1 MILE 5 MILES 10 MILES

Total population 2,539 40,948 186,403

Median age 29.3 32.5 34.5

Median age (Male) 28.8 32.1 33.5

Median age (Female) 31.7 33.7 35.8

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 930 14,397 65,548

# of persons per HH 2.7 2.8 2.8

Average HH income $50,581 $61,064 $66,009

Average house value $134,401 $144,550 $169,545

* Demographic data derived from 2010 US Census

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityDEMOGRAPHICS MAP

SHERMAN & HEMSTREET REAL ESTATE COMPANY624 Ellis St. , Augusta, GA 30901shermanandhemstreet.com706.722.8334

JOE EDGE, SIOR, CCIMjedge@shermanandhemstreet.com706.288.1077

624 Ellis St.Augusta, GA 30901T 706.288.1077C 706.627.2789jedge@shermanandhemstreet.com

PROFESSIONAL BACKGROUND

Joe is a native of Augusta, GA, and currently lives in Columbia County with his wife and five children. He began his career inreal estate in 2005 after serving four years in the United States Marine Corps. In 2006 Edge started his own commercial realestate firm and later that year bought out the 90-year-old firm, Sherman & Hemstreet.

Currently Sherman & Hemstreet now has more commercial real estate listings and brokers than any other firm in the CSRA.In addition to sales and leasing S&H has grown into one of the largest property management firms in the southeastmanaging over 4,000 units and over 10,000,000 square feet of space. More recently Sherman & Hemstreet completed theacquisition of McBride Realty and Turner Realty, both local firms.

Currently Joe holds the CCIM and SIOR designations. To learn more about these designations go to www.ccim.com orwww.sior.com.

MEMBERSHIPS & AFFILIATIONS

Certified Commercial Investment Member (CCIM)Society of Industrial and Office Realtors (SIOR)

JOE EDGE, SIOR, CCIMPresident & Broker

103 Spring Street, Grovetown, GA 30813Jernigans Mobile Home CommunityADVISOR BIO & CONTACT 1

Summary Rent Roll

Current tenants in the period 07/01/18 - 07/31/18

Property: Jernigan Mobile Home Park

Security Deposit based on date: 7/1/2018

Tenant Name Unit Sq FtDeposit

Held100%

RentedVacancy

LossLoss toLease

RentCharges

MiscCharges Credits

PriorBalance

TotalCharged Total Paid

CreditBalances

DebitBalances

Jernigan Mobile Home ParkMagos, Damian(Gustavo)1 0 0.00 650.00 0.00 50.00 600.00 105.00 0.00 55.00 705.00 700.00 60.00

Contreras, Gabriela 3 0 0.00 500.00 0.00 0.00 500.00 45.00 0.00 0.00 545.00 545.00 0.00

Luis, Alfredo Salvador4 0 0.00 400.00 0.00 0.00 400.00 45.00 0.00 0.00 445.00 445.00 0.00

Rodriguez, Arturo 5 0 0.00 500.00 0.00 0.00 500.00 45.00 0.00 0.00 545.00 545.00 0.00

VACANT 8 0 0.00 275.00 275.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Pasillas, Sandra 10 0 0.00 500.00 0.00 0.00 500.00 45.00 0.00 0.00 545.00 545.00 0.00

Espana, Ever 11 0 0.00 450.00 0.00 50.00 400.00 45.00 0.00 0.00 445.00 445.00 0.00

VACANT 12 0 0.00 300.00 300.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Guzman, Bernardo 14 0 0.00 350.00 0.00 0.00 350.00 45.00 0.00 0.00 395.00 395.00 0.00

Riviera, Alex 17 0 0.00 400.00 0.00 0.00 400.00 49.08 0.00 35.75 449.08 440.00 44.83

Maldonado, Ranulfo Acune18 0 0.00 325.00 0.00 0.00 325.00 77.50 0.00 -2.50 402.50 405.00 -5.00

VACANT 19 0 0.00 300.00 300.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Thompson, Curtis 20 0 0.00 450.00 0.00 -25.00 475.00 152.50 0.00 557.00 627.50 0.00 1,184.50

Contres, Edy 22 0 0.00 300.00 0.00 -50.00 350.00 45.00 0.00 0.00 395.00 395.00 0.00

Riviera, Alex 24 0 0.00 375.00 0.00 0.00 375.00 49.08 0.00 35.75 424.08 415.00 44.83

VACANT 25 0 0.00 325.00 325.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Velasquez, Roberto 27 0 0.00 500.00 0.00 0.00 500.00 45.00 0.00 -25.00 545.00 550.00 -30.00

Vega, Filiberto Torres 28 0 0.00 325.00 0.00 -75.00 400.00 45.00 0.00 0.00 445.00 450.00 -5.00

Covington, Troy 29 0 0.00 525.00 0.00 25.00 500.00 35.00 0.00 0.00 535.00 535.00 0.00

VACANT 30 0 0.00 250.00 250.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Magos, Damian (Lendy)House 0 0.00 550.00 0.00 0.00 550.00 100.00 0.00 0.00 650.00 595.00 55.00

Jernigan Mobile Home ParkTotals for Vacant Units: Vacant Rent: Credit Balances: Overall Balance:Total Units: 21 5 1,450.00 3 1,349.16

0 0.00 8,550.00 1,450.00 -25.00 7,125.00 973.16 0.00 656.00 8,098.16 7,405.00 -40.00 1,389.16

Vacant Units: Vacant Rent: Credit Balances: Overall Balance:Total Units:

Totals for report

21 5 1,450.00 3 1,349.16

Sq Ft

0

DepositHeld

0.00

100%Rented

8,550.00

VacancyLoss

1,450.00

Loss toLease

-25.00

RentCharges

7,125.00

MiscCharges

973.16

Credits

0.00

PriorBalance

656.00

TotalCharged

8,098.16

Total Paid

7,405.00

CreditBalances

-40.00

DebitBalances

1,389.16

Summary Rent Roll 08/11/18 1:21 PM Page 1 of rentmanager.com - property management systems rev.12.3911

As of 08/11/18

Property: Jernigan Mobile Home Park

Rent Roll & Recurring Charges

Tenant ID Unit Unit Type RC Water Total

Jernigan Mobile Home Park

Magos, Damian(Gustavo) 13713 1 MHOME 600.00 45.00 645.00

Contreras, Gabriela 18962 3 MHOME 500.00 45.00 545.00

Luis, Alfredo Salvador 13715 4 MHOME 400.00 45.00 445.00

Rodriguez, Arturo 13717 5 MHOME 500.00 45.00 545.00

Pasillas, Sandra 13719 10 MHOME 500.00 45.00 545.00

Espana, Ever 13728 11 MHOME 400.00 45.00 445.00

Guzman, Bernardo 13722 14 MHOME 350.00 45.00 395.00

Riviera, Alex 13723 17 MHOME 400.00 45.00 445.00

Maldonado, Ranulfo Acune13724 18 MHOME 325.00 45.00 370.00

Thompson, Curtis 15201 20 MHOME 475.00 35.00 510.00

Contres, Edy 13742 22 MHOME 350.00 45.00 395.00

Riviera, Alex 13727 24 MHOME 375.00 45.00 420.00

Velasquez, Roberto 13729 27 MHOME 500.00 45.00 545.00

Vega, Filiberto Torres 16962 28 MHOME 400.00 45.00 445.00

Covington, Troy 16387 29 MHOME 500.00 35.00 535.00

Magos, Damian (Lendy) 13894 House MHOME 550.00 45.00 595.00

Property Total

Property Counts 16 16

7125.00

16

700.00

16

7825.00

Rent Roll & Recurring Charges (Summary)Totals for 16 Tenants

Charge Type Description Customers % Charged % of Total $ Amount

RC Rent Charge 16 100.0% 91.1% 7,125.00

Water Water 16 100.0% 8.9% 700.00

7,825.00Total receipts:

Rent Roll & Recurring Charges 08/11/18 1:22 PM Page 1 of rentmanager.com - property management systems rev.12.3911

JAN 17 FEB 17 MAR 17 APR 17 MAY 17 JUN 17 JUL 17 AUG 17 OCT 17 NOV 17 DEC 17

8,450.00 8,425.00 9,060.00 7,620.00 7,700.00 8,826.00 7,999.00 7,236.00 8,173.00 8,290.00 7,770.000.00 0.00 0.00 475.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 70.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 1.00 139.00 105.00 105.00 115.00

TOTAL INCOME 8,450.00 8,425.00 9,060.00 8,095.00 7,700.00 8,826.00 8,000.00 7,375.00 8,348.00 8,395.00 7,885.00

467.14 467.14 467.14 467.14 467.14 467.14 0.00 0.00 468.30 468.30 468.3075.00 0.00 0.00 130.00 350.00 350.00 350.00 350.00 350.00 440.00 0.00

307.00 398.13 0.00 125.00 217.76 91.47 100.00 194.30 124.81 350.00 100.000.00 0.00 0.00 0.00 0.00 0.00 586.00 0.00 0.00 0.00 0.00

253.28 64.84 0.00 250.00 100.00 149.74 250.00 150.00 0.00 200.00 0.000.00 0.00 0.00 0.00 0.00 0.00 100.00 0.00 200.00 0.00 0.00

500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.00 500.000.00 0.00 0.00 0.00 0.00 0.00 72.00 -72.00 25.00 0.00 0.00

648.00 646.00 696.80 581.60 588.00 671.68 611.92 557.28 625.84 635.20 593.600.00 0.00 1,271.94 -37.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00

43.80 50.49 100.98 59.01 50.49 64.48 51.08 102.16 43.04 100.98 63.661,279.45 1,125.48 1,045.98 1,258.14 1,105.78 1,221.56 1,371.76 1,207.17 1,949.43 1,693.32 1,020.75

TOTAL EXPENSE 3,573.67 3,252.08 4,082.84 3,333.46 3,379.17 3,516.07 3,992.76 2,988.91 4,286.42 4,387.80 2,746.31

4,876.33 5,172.92 4,977.16 4,761.54 4,320.83 5,309.93 4,007.24 4,386.09 4,061.58 4,007.20 5,138.69

PROPERTY TAXES 1675.3TRUE NET INCOME 50,275.44

NET INCOME 931.23 51,950.74

6,443.77 45,983.26 6950 Water / Sewer 1,924.84 16,203.66 6902 Electric Charge 51.08 781.25 6805 Mobile Home Taxes 0.00 1,234.51

6770 Legal Fees 140.00 165.00 6775 Management Fees 633.20 7,489.12

6680 Salary - Office 500.00 6,000.00 6150 Cleaning & Janitorial 0.00 300.00 6535 Plumbing Repair / Supplies 0.00 1,417.86 6500 HVAC Repair & Maintenance 0.00 586.00 6451 Bldg Repairs/Maintenance-General 75.50 2,083.97 6351 Grounds Maintenance 245.68 2,640.68 6320 Property Insurance 1,500.00 5,707.74

8,300.00 98,859.00

EXPENSE

4545 Water Reimbursement 35.00 500.00

4320 Downpayment 0.00 475.00 4325 Eviction Fee Reimbursed 0.00 70.00

4001 Income 8,265.00 97,814.00

Profit & Loss 12 Month RecapProperty: Jernigan Mobile Home Park

Monthly recap 01/01/17 - 12/31/17 (cash basis)SEP 17 TOTAL

INCOME

FEB 18 MAR 18 APR 18 MAY 18 JUL 18

8,045.00 7,430.00 8,145.00 7,324.50 6,589.250.00 0.00 0.00 250.00 150.750.00 0.00 0.00 95.00 0.00

790.00 750.00 790.00 700.00 665.00TOTAL INCOME 8,835.00 8,180.00 8,935.00 8,369.50 7,405.00

468.30 468.30 468.30 468.30 468.300.00 0.00 250.00 350.00 350.00

50.00 0.00 0.00 0.00 0.0021.91 248.78 382.50 300.00 300.00

545.00 545.00 545.00 545.00 545.000.00 0.00 70.00 215.00 70.00

640.00 594.40 651.60 605.96 539.200.00 1,296.05 539.05 0.00 0.000.00 0.00 0.00 0.00 0.00

51.56 50.40 0.00 26.22 0.000.00 0.00 326.99 0.00 0.00

51.56 0.00 0.00 0.00 0.001,575.95 1,173.54 1,057.59 1,255.87 1,355.31

TOTAL EXPENSE 3,404.28 4,376.47 4,291.03 3,766.35 3,224.36 3,627.81

5,430.72 3,803.53 4,643.97 4,603.15 -3,224.36 3,777.19

55,204.50 23,694.49

3,510.40 501.49

94,636.29 46,636.95 47,999.33

Profit & Loss 12 Month RecapProperty: Jernigan Mobile Home Park

Monthly recap 01/01/18 - 07/31/18 (cash basis)

INCOME 4001 Income 5,675.00 6,302.00 49,510.75

JAN 18 JUN 18 TOTAL

4030 Late Fees 0.00 137.50 538.25 4325 Eviction Fee Reimbursed 0.00 0.00 95.00

6,375.00 7,105.00 55,204.50

EXPENSE

4545 Water Reimbursement 700.00 665.50 5,060.50

6351 Grounds Maintenance 0.00 350.00 1,300.00 6320 Property Insurance 468.30 468.30 3,278.10

6451 Bldg Repairs/Maintenance-General 83.01 350.95 1,687.15 6400 License and Permits 0.00 0.00 50.00

515.16 4,000.32

6680 Salary - Office 545.00 545.00 3,815.00

6805 Mobile Home Taxes 0.00 0.00 1,835.10

6770 Legal Fees 95.00 0.00 450.00 6775 Management Fees 454.00

0.00 326.99

6815 Property Taxes 1,675.30 0.00 1,675.30

6901 Other Electric 0.00 0.00 51.56

6902 Electric Charge 50.49 0.00 178.67 6905 Electric- Unit Turnover, Vacant 0.00

True Net Income

4,514.59 27,204.89 6950 Water / Sewer 1,143.49 994.95 8,556.70

NET INCOME 1,860.41 20,894.61

7 Months Income7 Months Expense minus property taxes

TaxesMonthly Taxes

Annualized IncomeAnnualized Expenses