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Mercury New Media, Inc.
• Value Add Opportunity• All Two Bedroom / One Bath Units• Tenants Pay All Utilities• Roof Replacement in 2013• New Siding, Gutters, Downspouts, Windows, Doors and Trim• Below Market Rents• Washer / Dryer Hookups in All Units• French Doors Open to Balcony or Patio in Each Unit• Modern Kitchens• Ceramic Tile Throughout
Franklin Street is pleased to present Del Rey Terrace Apartments, a 26-unit multi-family property located in Valdosta, Georgia. The property consists of two two-story apartment buildings, one with twenty units and the other with six units. Del Rey Terrace is located just off North Forest Street on the north side of Valdosta. Nestled in a quiet and safe residential neighborhood, the property has all two-bedroom, one bathroom units. The twenty Units in the 1616 E. Moore Street building are all 822 square feet and the six units in the 1618 E. Moore Street building are 865 square feet each. The spacious units feature ceramic tile throughout, central heat and air and modern appliances. Appliances and interiors have been upgraded over the last several years. The property has undergone continuous maintenance and renovation by the current owner, including new composite siding, new gutters and downspouts, new trim, windows and doors, as well as the in-suite amenities. Both buildings had roof replacements in 2013. All maintenance on the units, building and grounds are kept current, so there is no deferredmaintenance.This is a value add offering, with the opportunity to reduce vacancy to the market level of ten percent. Units are currently $30 to $60 per month below market rates, affording the investor immediate upside. A local presence and effective advertising will boost the occupancy to market levels and with rent at market equivalent, the investor can double the current NOI.
• 12 Townhouse portfolio• Built between 1981 and 1985• Two Bedroom Units Are Ideal For The Area Demographics• Tenants pay all utilities• Washer/dryer hook-ups• $54,167 Per Unit
Franklin Street is pleased to present this bulk offering of 12 fee simple townhouse units located in the Whispering Pines neighborhood of Valdosta, Georgia. The townhouses are in a single-family residential neighborhood on Toni Terrace, Ricardo Street and Langdale Drive, all within a few minutes of each other. Theportfolio consists of 12 spacious two-bedroom/one-bathroom units from 1,011 to 1,108 square feet for a total of 13,000 rentable square feet.The properties were built between 1981 and 1985 of wood frame construction with composite siding and gable roofs covered in composite shingles. The unitsfeature central heating and air conditioning, off-street parking, private patios and back yards, perfect for pets and family activities.The units are currently renting for $550 per month. The portfolio is being offered with an attractive $54,167 per unit. Tenants pay all utilities and, with lowtaxes, insurance and operating expenses, the investor will see a first-year net operating income of $47,000.
Fort Lauderdale, FL
To view property video press on the following link:Victoria Park Portfolio Drone VideoFully Stabilized, Repositioned Turn-key Asset with 100% Occupancy in Victoria ParkGut Renovated Over $600,000 in Capital ImprovementsHighest Rents in Victoria Park Averaging $2.50/psfPotential for Short-Term Rentals with Existing Hotel LicenseExceptional Unit Mix Consisting of All 1, 2, and 3 Bedroom floorplansAmenities Include Sparkling Pool, On-site Laundry and Private CourtyardsWalking Distance to Major Retailers, Restaurants and Major TransportationEase of Access to Downtown Ft. Lauderdale, I-95, Broward Blvd, US 1 and A1A
Casa Victoria is a 12-unit multifamily community in Broward County located in the heart of Fort Lauderdale, Florida. The subject property was built in 1975 with reinforced concrete, stucco exterior, pitched roofs and situated on 0.31+/- acres of land.The property is located on the corner of NE 7th Ave and NE 7th Street standing just one block east of US 1 surrounded by neighboring multi-family buildings of similar age and construction. The asset is conveniently located east of I-95, north of Broward Blvd., east of US 1 and just blocks from downtown Fort Lauderdale. Casa Victoria is situated behind a shopping center which includes a grocery store, coffee shop, and other local retailers. Within walking distance, you will find the Fort Lauderdale financial district, Las Olas River Front entertainment venue and many retailers, boutique shops and restaurants on the renown Las Olas Blvd. The asset is only a short jog or bike ride from Fort Lauderdale’s famous beaches. Additionally, Casa Victoria is one block away from one of the most up and coming, well known neighborhoods in Broward County known as ‘Flagler Village.’The investment opportunity consists of one (1) two-story building. It offers an excellent unit mix of (8) one bedroom & one bath, (1) two bedroom & two bath, (1) two bedroom & three bath and (2) three bedroom & three bath apartments totaling approximately 7,985 RSF. The property offers amenities such as sparkling pool, laundry facility, tropical landscaping, and ample parking. Residents pay electric, cable and telephone. Water and trash are included in the rent. Casa Victoria offers an investor the ability to purchase an unbelievably located, fully stabilized, repositioned asset that has undergone significant interior and exterior capital improvements in the past two years totaling more than $600,000. This investment offers a new buyer great cash flow from day-one of ownership plus the opportunity to capitalize on the upside in rents in one of the strongest submarkets in the County. The location of Casa Victoria Apartments simply cannot be beat.Casa Victoria may also be purchased with sister property 408 NE 7th Ave Victoria Place Courtyard Apartments (16 Units) only 3 blocks away (0.4miles).
Myrtle Beach, SC
Franklin Street is pleased to present this single-tenant Golf Academy of America in Myrtle Beach, South Carolina. Myrtle Beach is one of the major beach towns in the U.S. with some 14 million visitors a year. Myrtle Beach is also the fifth fastest growing city in the country, largely due to the retirement population and tourism growth. Myrtle Beach is known as the Golf Capital of the World and is home to over 100 golf courses. The area surrounding the property is a heavily trafficked shopping area surrounded by several of the major shopping centers including: Broadway at the Beach, Seaboard Commons, Coastal Grand Mall, and 501 Power Centers.
The property was recently fully redeveloped in 2015 when Golf Academy of America started their 13-year NNN lease. Golf Academy of America is the oldest and largest two-year golf management and instructional college in America. It was founded in 1974 and owned by Education Corporation of America. Golf Academy of America has 5 strategic locations in heavy golf areas of the country: Myrtle Beach, Orlando, Phoenix, Dallas, San Diego. Education Corporation of America owns and operates private accredited colleges across the United States as well as via the Internet. Some of their other brands include: Virginia College (28 locations), Culinard (10 locations), Ecotech Institute, New England College of Business, and Brightwood College (32 locations). The Myrtle Beach location is a relocation from their former site of 10+ years, which they have updated to a state of the art facility and training tools.
Franklin Street presents Mill Creek Walk a 36,358-SF strip center, in Buford, Georgia. The center shares a lighted intersection with the entrance to the Mall of Georgia. The Mall of Georgia is the most visited tourist destination in the state of Georgia. The mall attracts over 15 million visitors annually and has a very extended geographic pull. The center sits on Buford Drive which connects I-85 to I-985 in the northern Atlanta suburbs. The center was developed in 2001 and has been very well maintained. Petco recently signed a new 10-year extension to remain at the property giving a property investor a long-term anchor to the property.
The Mall of Georgia peripheral oftentimes is the location of retailers strongest location in the state of Georgia, making it a very attractive location for retailers. The submarket has remained one of the top retail locations in Atlanta with 98.5% occupancy for over 3.3M square feet of retail. Mill Creek Walk is surrounded by national tenants including: Target, Macy’s, Dillard’s, Belk, JC Penney, Best Buy, Nordstrom Rack, Ulta, Sam’s Club, Costco, REI, among many others.
Franklin Street is pleased to present this new construction strip center in Alexandria, Louisiana. Mattress Firm signed an 11-year lease which commenced in August 2016. Verizon Wireless has recently signed a new lease and will begin paying rent in October 2017. The leases are landlord friendly, with the tenants reimbursing for CAM, taxes, and insurance. Hedging against inflation, both leases offer healthy increases during the initial term and option periods. The subject property sits at one of the major intersections in all of Alexandria. The center has excellent visibility and is surrounded by many daily traffic generators: Walmart, Sam's Club, Kroger, Academy Sports, and the Alexandria Mall.
Alexandria is one of the largest cities in the state of Louisiana and is the parish seat of Rapides Parish. It lies on the south bank of the Red River in almost the exact geographic center of the state. It is the principal city of the Alexandria metropolitan area (population 153,922) which encompasses all of Rapides and Grant parishes. Its neighboring city is Pineville. Situated just south of Alexandria is Louisiana State University-Alexandria, a regional campus of LSU. The Southern Baptist-affiliated Louisiana College is also located nearby. Within the city is the Garden District, containing many large historical homes and brick roads. As Alexandria is at the cusp of Cajun culture's extension to the north, the city recognizes Mardi Gras as an official holiday and a major cultural festivity. Other points of interest include Alexandria Zoological Park and Cotlie Lake and Indian Creek Recreational Areas. The Alexandria workforce consists of about 55,000 residents. Union Tank Car Company has recently located a plant northwest of Alexandria near the airport creating hundreds of jobs. Expansions at the Procter & Gamble plant and the construction of a PlastiPak plant in nearby Pineville have also created a number of new jobs for the area. Sundrop Fuels Inc., a Colorado-based biofuels start-up, plans to construct an over 1,200-acre plant just northwest of Alexandria in Rapides Station area. The facility will serve as the headquarters for the company because aside from the plant itself, Sundrop has also bought Cowboy Town, an abandoned entertainment venue that sits inside the surrounding land that was purchased, to house their offices and their maintenance and fabrication operations.
Franklin Street is pleased to present this corporately guaranteed Dollar General in Oneonta, Alabama. Oneonta is the county seat of Blount County, which has 57,322 residents. Oneonta is a northern suburb of Birmingham located 35 miles to the north of downtown. Birmingham is the largest metro in Alabama with 1.1 million residents. The subject property is centrally located on the main retail drag with other daily users. Dollar General is reporting strong sales that have increased year after year which have paid the landlord additional income through percentage rent. Dollar General has recently added beer and cigarettes to the store which should see a large boost to the sales.
Dollar General has occupied the space since 2004. They have recently exercised a new 5-year option. The lease is corporately guaranteed by Dollar General who currently operates 11,000+ locations across the United States. The tenant is responsible for taxes, insurance, and utilities. Tenant shall pay for all minor repairs and maintenance to heating, lighting, plumbing and air condition equipment up to $750 per occurrence. Landlord shall maintain all grass and landscaped areas. Tenant shall reimburse Landlord $425 per month for Landlord’s actual cost of care and maintenance on the parking lot and shall include the maintenance of any grass or landscaped area, as well as lighting, cleaning, security, snow removal, striping and repairs.
-Property Has Received $120k of CapEx in the Past 15 Months Including:
-Two Roof Replacements
-Parking Lot Re-Pavement
-Landscaping & Tree Trimming
-Significant Value-Add Potential Through Rent Growth as Current Rents Are at the Bottom of the Market
-All Units Feature Tile Flooring Throughout
-Solid Concrete Block Construction with Pitched Roofs
-Located in the Growing and Dense Residential Brandon Market Just 3 Miles from Westfield Brandon Mall, With Over 1M Sq Ft of Retail Space
-Across the Street From the Brandon Community Center, a Youth Sports Complex with Tennis, Basketball, & Volleyball Courts, Baseball & Softball Fields, a Playground, and After School/Summer Camp Programs
Pinewood is a multifamily community located in Brandon, Florida. The community consists of 6 single-story buildings located on two adjacent parcels totaling approximately 1.72 acres. The buildings were built in three phases including three in 1926, one in 1940, and two in 1984. All feature concrete block construction and pitched roofs with composition shingle coverings. All six of the buildings have centralized HVAC. The unit mix at Pinewood consists of 6- 1 Bedroom 1 Bathroom apartments of 625 square feet, 11- 2 Bedroom 1 Bathroom apartments of 750 square feet, and 2- 3 Bedroom 1 Bathroom apartments of 1,000 square feet. The property is located just 2 blocks North of Brandon Blvd (State Road 60), a major thoroughfare and retail corridor with a daily traffic count of 70,000. Situated across the street from the Brandon Community Center, residents are able to enjoy basketball courts, tennis courts, sand volleyball courts, baseball/softball fields, a playground, and picnic areas, as well as after school care, fitness classes, and summer camp programs for children and teens.
Timuquana Marketplace is a 46,700 square-foot retail center being offered at $75 per foot with a CAP rate greater than 13 percent. Located in the Ortega Submarket of Jacksonville, FL, the Subject Property is currently 94 percent occupied. Competitive financing options are available offering an immediate return of more than 40 percent.
The Subject is positioned with direct frontage on Timuquana Road (103rd Street) with average daily traffic exceeding 22,000. The center is located between the cross streets of Blanding and Roosevelt
Boulevards with average daily traffic exceeding 50,000 and 70,000 respectively. Monument signage, ample parking and multiple points of ingress / egress provide visibility and ease of access for the
Mountain Crossing is a 93,396-SF Kroger-Anchored Shopping Center in Dacula, Georgia. Please contact Agent for details.