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Mercury New Media, Inc.
• Immediate Value-Add Opportunity Through Interior Upgrades; Already Proven out at $100 Premium• Excellent Submarket Conditions with Steady Occupancy and Organic Rent Growth• Over Three Acres of Developable Land on the Hillsborough River with Zoning for 20 Units/Acre• Excellent Frontage on a Major North/South Thoroughfare with Daily 46,200 Car Count• Excellent Unit Mix Consisting of all 2 & 3 Bedrooms with Average Unit Size of 1,259 SF• Close Proximity to Many Employment Centers Including the University of South Florida, Downtown CBD, Netpark, Busch Gardens, and the Seminole Hard Rock Hotel & Casino
PROPERTY DESCRIPTIONHeritage at Tampa is a 110-unit property located in the Northeast portion of Tampa. It is well connected to local employment centers thanks to major roadways including I-4, I-75, and I-275. The 1969 vintage property is solid block construction with a brick facade and consists of spacious 2 and 3-bedroom units averaging 1,259 square feet, the largest units in the submarket.Heritage at Tampa boasts an impressive set of amenities including a leasing center, clubhouse with billiards, fitness center, resort style swimming pool, and a common laundry facility. The current owners acquired the property in 2015 as a fractured condominium and have since re-purchased all units and collapsed the HOA.SUGGESTED VALUE ADD COMPONENTS• No significant renovations were completed under current ownership providing a great canvas for the new owners. Updated interiors, fencing and/or paving of the private patios, and the addition of washer/dryers would significantly boost the potential NOI of the property.• An unused leasing space at the front of the property could be brought back online to allow for the re-purposing of the current space at the back of the property. The new space would become an additional tenant amenity and a potential new source of income. Other amenity upgrades will allow the property to continue to differentiate itself from submarket competitors.• The parcel also includes approximately 3.194 Acres of land on the Hillsborough River, which is currently zoned for multifamily development and allows for up to 20 Units/Acre to be built.
Franklin Street presents Sims Crossing Shopping Center, a 20,000 SF unanchored center, in Snellville, Georgia. The center provides the investor a great opportunity to increase the NOI through lease-up and increasing below market rents in the center. The majority of the shop tenants are complementary businesses with some daily-use operators. Some of the tenants have rental increases during their initial term and bumps in their option periods to allow for future rent growth. The center has three access points and is located along Centerville/Scenic Hwy 124, which is the main highway between downtown Snellville & Centerville. The dense neighborhood population surrounding the property bodes well for the longevity of the shopping center. Furthermore, the corner lot this property sits on allows for redevelopment opportunities in the future.
Snellville is a city in the county seat of Gwinnett County, Georgia, in the United States. It is a suburb of Atlanta, located approximately 30 miles northeast of downtown. Gwinnett County is a county in the north-central portion of the U.S. state of Georgia. As of the 2010 census, the population was 859,304, making it the second-most populous county in Georgia. Gwinnett remains one of the fastest-growing counties in the nation, adding 90,499 residents in five years. Gwinnett has long been one of the nation’s fastest-growing counties. It began to transform from a rural enclave to a suburban juggernaut in the 1970s. Atlanta is the cultural and economic center of the Atlanta metropolitan area, home to 5,710,795 people and the ninth largest metropolitan area in the United States. Atlanta contains the country’s third largest concentration of Fortune 500 companies, and the city is the global headquarters of corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, Chick-fil-A, UPS and Newell-Rubbermaid.
St Petersburg, FL
• Proven Value-Add Potential With Rents Well Below Market• Within Walking Distance of Starbucks, Several Restaurants, and Fitness Centers• Conveniently Located within Minutes of the Gandy Bridge for Access to South Tampa and Downtown Tampa• Within Close Proximity to Downtown St. Petersburg (3.2 miles), South Tampa (13.4 miles), Westshore CBD (13.6 miles), and Downtown Tampa (17.1 miles)
PROPERTY OVERVIEWRoyal Palm is a multifamily value-add investment opportunity located in the north portion of St Petersrburg, FL. The 40-unit concrete block property features a unit mixsplit between One (25% ) and Two-bedroom (75%) units.Investors have the opportunity to acquire a well-maintained property with proven value-add potential. immediate upside lays in pushing rents up to market as they are currently at the bottom of the market comps. The new owner will also have the ability to extract additional rent premiums through the continuation of light interior and exterior renovation programs.LOCATION OVERVIEWThe property is conveniently located within short distance of dining, retail, and office space. Tenants have the luxury to walk to some of the St. Pete's most popular restaurants including, Red Mesa, Fresh Kitchen, Better Byrd, and other renowned national tenants like Bonefish Grill, Starbucks, Earl of Sandwich, and more. Multiplegrocery stores can be found within minutes of the investment including two retailcenters anchored by Publix Supermarkets, a nearby Trader Joe's, and The FreshMarket. Major roadways (4th St, I-275, US-19) connect the property to other majorattractive areas including nearby employment centers, Downtown St. Petersburg,Westshore CBD, Downtown and South Tampa, and entertainment with award-winningbeaches and large venues hosting concerts and professional sporting events.
• Significant Value-Add Opportunity with Ability to Increase Rents $125/Unit• Solid 1980's Concrete Block Construction with Central HVAC• Located Less Than 1 Mile from the University Mall, Which Has Plans for a $1B Redevelopment• Nearby Additional Major Employment & Economic Drivers, Including: Veterans Hospital (1.7 miles), Florida Hospital (2.1 miles), and Busch Gardens (3.9 miles)• Property is 1.6 Miles from the University of South Florida, a Flagship University with 50,000+ Students• All Roofs Replaced in 2016 and Improved Featuring a Slight Pitch
Youngstown is a 36-unit value-add opportunity located in the University submarket of Tampa, Florida. The property was constructed in 1984 with concrete block framing and stucco exterior. The unit mix at Youngstown consists of all one-bedroom one-bathroom floor plans.Youngstown is conveniently located within minutes of major economic drivers in the area. These include The University of South Florida; The Florida Hospital; James A Haley VA Hospital; and Busch Gardens amusement park, all of which are within 4 miles. The submarket is easily accessible via major roadways including I-275 serving Downtown Tampa and the Westshore CBD, I-75, and I-4. The property sits in between Fletcher and Fowler Ave which run parallel to one another and give residents easy access to retail and public transportation. Youngstown is a value-add multifamily opportunity with immediate upside as rents are at the bottom of the market. Priced significantly below replacement cost, Youngstown offers the investor an 8.75% year 1 cap rate.
CALL FOR OFFERS DUE 11/8/2018• Proven Value Add Opportunity Through Interior and Exterior Renovations.• Well Maintained, All Block Construction, Unit Mix Over 50% 2BR• Existing Top Tier Renovated Units (10%) Collecting Rent Premiums of $120+. Remaining 40% Are Untouched by Current Owner, 50% Received Light Improvements• Recent CAPEX Projects Include: Partial Re-Roofing, Full Replacement of 49 HVAC Systems Within Last Two Years• Excellent Amenities Including: Amazon Locker, Three Pools, Playground, Fenced Dog Park, Multiple On-Site Laundry Facilities• University Mall Retail Center, Planned $1B Redevelopment (>1Mile)• University of South Florida Enrolling 50K+ Students, and 14K+ Jobs (1Mile)• Florida Hospital Tampa (1.3Miles), Veterans Hospital (1.2Miles), Shriners Hospital for Childrens (1.6Miles)• Bush Gardens (3.4Miles, 3.5K Jobs), Seminole Hard Rock Hotel & Casino (10 minutes), MIDFLORIDA Credit Union Amphitheater & Florida State Fairgrounds (12 Minutes), Tampa Premium Outlets (44K SF Retail – 20 Minutes)
University Gardens is a multifamily value-add investment opportunity located in Tampa, FL. The fourteen buildings are constructed with concrete block framing and flat roofs. The unit mix is split between 1% studio, 45% one-bedroom, 53% two-bedroom, and 1% three-bedroom units featuring three levels of renovations. The renovated units with updated kitchens and bathrooms receive on average $120 in rent premiums.Excellent amenities serve the residents of the community and include an Amazon package locker system, three pools, a playground, a fenced dog park, and multiple fully equipped laundry facilities. The property is conveniently located within minutes of major economic drivers in the area. These include the University of South Florida, The Florida Hospital, James A Haley VA Hospital, and Busch Gardens amusement park; all of which are within 6 miles of the subject. The submarket is easily accessible via major roadways including I-275 serving Downtown Tampa and Westshore CBD, I-75, and I-4 allowing for convenient commute to major employment centers of the area. The property sits in between Fletcher and Fowler Ave which run parallel to one another and give residents easy access to many retail, dining, and public transportation hubs.Investors have the opportunity to acquire a well-maintained property with proven value-add. Buyer will have the ability to extract rent premiums of $150+ through the continuation of a light interior and exterior renovation program to include granite counter-tops, black or stainless appliance packages, faux-wood flooring.
* All Roofs Replaced Within the Last 12 Months* All New Central HVAC Units Replaced Within the Last 12 Months* Select Units Have Been Fully Upgraded* New On-Site Laundry Facility Added Within the Last 12 Months* Solid Concrete Block Construction Featuring One and Two Bedroom Unit Mix* Property is Less Than 2 Miles from the University Mall; Which has Plans for a $1B Redevelopment* Property is 1.4 Miles from the University of South Florida; a Flagship University with an Enrollment over 50,000* Other Nearby Economic Drivers Include: Veterans Hospital (1.1 Miles); Florida Hospital (0.9 Miles); Busch Gardens (4.1 Miles)
Holly Court is a 33-unit garden style apartment community located in the University submarket of Tampa, FL made up of 17 one-story buildings spread across approximately 1.54 acres. The buildings were constructed from 1971 -1972 and feature concrete block framing and pitched roofs. The unit mix consists of 19 one-bedroom one-bathroom units and 14 two-bedroom one-bathroom units. Holly Court offers the investor a value-add opportunity to acquire a multifamily property in a growth market well below replacement cost with room to significantly increase rents to market levels. Holly Court recently received major renovations such as new roofs, central A/C, and an on-site laundry facility. The majority of the units at Holly Court are all tile and select units have been fully upgraded. Additionally, a new recreational park, including a children's playground, was built across the street offering tenants an additional amenity. The property is conveniently located within minutes of major economic drivers in the area. These include the University of South Florida, The Florida Hospital, James A Haley VA Hospital, and Busch Gardens amusement park; all of which are within 5 miles of the subject. The submarket is easily accessible via major roadways including I-275 serving Downtown Tampa and the Westshore CBD, I-75 and I-4. The property sits just North of Fletcher Ave which gives residents easy access to retail stores and public transportation.
Franklin Street is pleased to offer “FOR SALE” this well located former bank location in the suburban Atlanta market of Lawrenceville, GA. The subject property is a +/- 3,629 sq ft, single tenant building, situated on a +/- 0.88 acre site on the high traveled Sugarloaf Parkway.
This building has excellent street exposure on a hard corner and traffic counts on Sugarloaf Parkway are estimated at over 45,000 AADT. Within a 5-mile radius, the population is over 200,000, and growing, with an average household income of $77,894.
This location in Lawrenceville has an abundance of daytime commercial as well as residential traffic with over 66,000 households and 8,000 businesses within a five mile radius. This location has great potential for retail, restaurant and office users looking for great exposure on a major thoroughfare.
Retail tenants in the immediate vicinity include Publix, Zaxby’s, McDonald’s, Marco’s Pizza, Smoothie King, Chase Bank and Auto Zone.
• Excellent hard corner visibility• Over 200,000 residents within a 5-mile radius• Traffic count over 45,000 AADT• Surrounded by business offices and housing
Mount Dora, FL
• Rent Restrictions Lifted Upon Mortgage Payoff Leading to
Significant Rent Upside
• Highly Desirable 1980’s Vintage Concrete Block Construction
with Pitched Roofs
• Strong Unit Mix with 1-, 2-, & 3- Bedroom Floor Plans
• Supply-Constrained Mount Dora Submarket with Significant
Demand for Market-Rate Product
• Well Maintained Property
• Located 1.25 Miles From Downtown Mount Dora, the Historic
and Popular Tourist Destination Just 45 Minutes From Orlando
International Airport Known For its Variety of Antique and
• Across the Street From Lincoln Avenue Community Park,
a 35-acre Recreational Complex Offering Tennis Courts,
Baseball/Softball Fields, Disc Golf Course, Swimming Pool,
Bike Trail, & Dog Park
The Hampton Villas Apartments is a 65-unit multifamily community in Mount Dora, FL. The property was constructed in two phases in 1981 & 1988, with all buildings consisting of concrete block framing and stucco exterior walls. The unit mix consists of 34- 1 Bedroom 1 Bathroom units of 631 square feet, 4- 2 Bedroom 1 Bathroom units of 832 square feet, 4- 2 Bedroom 2 Bathroom units of 925 square feet, 21- 2 Bedroom 1.5 Bathroom units of 965 square feet, and 2- 3 Bedroom 1 Bathroom units of 1080 square feet. Amenities on-site include two laundry facilities and a resident clubhouse. The Hampton Villas Apartments is located just 5 minutes from Downtown Mount Dora, and sits across from the 35-acre Lincoln Avenue Community Park, where residents may enjoy access to 6 tennis courts, 4 baseball/softball fields, 2 racquetball courts, a disc golf course, swimming pool, dog park, and biking trail.
• Located 3.8 Miles From the #1 Rated Beach in the U.S. (TripAdvisor 2018)• Strong Unit Mix Consisting of 50% 2 & 3 Bedroom Floor Plans• Excellent Value-Add Potential as Rents are at the Bottom of the Market• Solid Concrete Block Construction
Spanish Gardens is a 16-unit value-add opportunity located in the heart of Clearwater, Florida. The property was constructed in 1972 with concrete block framing and stucco exterior. The unit mix at Spanish Gardens consists of 8 one-bedroom one-bathroomfloor plans, 6 two-bedroom one-and-a-half-bathroom floor plans, and 2 three-bedroom one-and-a-half-bathroom floor plans.The property is centrally located in Pinellas County, the most densely populated county in the state of Florida. Just a few blocks from the downtown area, residents at Spanish Gardens enjoy convenient access to all that Clearwater has to offer, including its world-renowned beaches.Spanish Gardens is a value-add multifamily opportunity with immediate upside as rents are at the bottom of the market.
Franklin Street presents Clayton Town Center, a 70,682-SF Walmart shadow center in Clayton, North Carolina. The center is located just 10 miles southeast of downtown Raleigh. The property has been recently renovated with new exterior paint, as well as a recent reseal and stripe of the parking lot. The property has a strong national tenant retail lineup with Dollar Tree, Sally Beauty, H&R Block, Liberty Tax, Cricket Wireless and Maurices occupying spaces in the center. Clayton Town Center is well located on the heavily traveled Highway 70 with 39,000 VPD passing by the property. The center has three access points off Highway 70 and a lighted entrance.
The property offers a new investor a value-add opportunity to lease the remaining 27% vacancy and piggyback off the strong leasing momentum. Eleven new leases have been signed in the last two years, creating much better synergy amongst the legacy tenants. Surrounding national retailers include: Walmart Supercenter, Lowes Foods, Food Lion, Starbucks, Family Dollar, among many others, bringing shoppers to this area.