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Franklin Street is pleased to present Ovation Town Center, a 96,750-square foot Publix-anchored shopping center, which is located across from Reunion Resort in Davenport, Florida just south of Orlando. The center has excellent access with four different curb cut entrances (three currently in use). The property sits on the southwest corner of two main roads at a lighted intersection. Highway 532 is a major west-east connector from Interstate 4 and Lake Wilson Road which leads to the entrance of Reunion Resort. Ovation has seen steady leasing activity and tenant expansion, which has led the center to be 93% occupied. The offering includes the three outparcel ground leases that are corporately leased to some of the nation’s biggest brands, including Wells Fargo, McDonald’s and Speedway.
Finished in 2008, Ovation Town Center was built to attract shoppers to the east of Interstate 4 and the thousands of annual visitors to Reunion Resort. The center is home to a strong mix of national and local tenants. The national tenant lineup includes Publix, Wells Fargo, McDonald’s, Subway, Anytime Fitness, Papa John’s, Tropical Smoothie and Allstate Insurance. The developer plans to incorporate multifamily units surrounding the property with the additional land they own, which will increase the foot traffic to the center when completed. The proposed multifamily units will be the primary residential component within Ovation. Not only is this site strategically located near the intersection of five of the region’s major transportation routes, including 1-4, SR 417, SR 429, SR 535 and Osceola Polk Line Road, it is also surrounded by world class golf course resorts, water park, pools, spas and shopping.
Shallowford Gardens Apartments offer a central location, providing easy access to the intersection of I-285 and I-85, Buckhead, Central Perimeter, CDC/Emory, Executive Park and other areas in Atlanta that are key locations for shopping, dining, employment and entertainment. The property is also adjacent to the 165-Acre Doraville GM redevelopment and in close proximity to the OFS site at I-85 and Jimmy Carter Boulevard.
Saint Petersburg Beach, FL
- Roof Was Replaced In 2014, Property Has Been Freshly Painted and Select Units Have Been Upgraded- 5 Brand New Central Air Conditioning Units Installed in 2014- Exterior Walls Of Property Recently Repainted- Brand New Parking Lot Resurfacing- Located Across The Street From Ron McKenney Park, A Public Park Which Features A Picnic Pavilion, BBQ Grills, Fishing Pier, And Playground- Located In The Most Densely Populated County In The State of Florida- Features Highly Desirable Concrete Block Construction- Villa Vacilia Is Located Just 4 Miles Away From The World Famous, Don Cesar Hotel; Frequently Named One Of The Best Beach Hotels In The United States- Approximately A 10 Minute Walk to the Beautiful Beaches of St. Petersburg
Villa Vacilia Apartments is a multifamily investment opportunity located in St. Petersburg Beach, Florida. The property consists of one, two story building located on .41 acres of land. The building was constructed of concrete block and features a unique carport feature on the first floor of the building. The unit mix consists of 6 1Bdr/1Bath apartments at 640 square feet, 2-2Bdr/1Bath apartments at 950 square feet, and 1- 2Bdr/1Bath unit at 1024 square feet. Residents of Villa Vacilia enjoy centralized heating and air as well as rentable storage units outside of their unit. The roof over the property was recently replaced in 2014, and rents are significantly below market for the surrounding area. There is an ability to upgrade interior units and increase rents. The property enjoys significant additional income through renting storage space and carports which have little to no maintenance expense.
The North Tampa Portfolio is a two property multifamily offering in Tampa, Florida. The portfolio consists of Villa Amor & Casita Bella apartments. The larger of the two, Villa Amor, is comprised of 14 one and two story buildings that were built between 1971 and 1974. Each building is concrete block with a flat roof. There are 44 1Bdr-1Bath and 24 2Bdr-1Bath units, for a total of 68 villa style apartments. In addition, this property offers off-street parking and on-site laundry facilities. Casita Bella is the smallest property in this portfolio. Casita Bella is comprised of 8 one-story duplexes that were built in 1969. Each building is concrete block with a pitched roof. There are 16 1Bdr 1Bath apartments in this community.
- Currently 95% Occupied with Immediate Rent Upside
- Over 90% of the Units Have Ceramic Tile Throughout
- Two-Property Portfolio Located Within a Half-Mile of Each Other in North Tampa
- Value-Add Opportunity with Strong Cash Flow Potential Through Management Efficiency
- Located in the Densely Populated University Area Submarket
- Minutes From Three Major Employers in the Area, The University of South Florida, Busch Gardens and James A. Haley Veteran's Hospital
Beverly Forest is a 42 unit apartment community located in the Cobb county suburb of Mableton, GA. Mableton continues to gain popularity due to it's proximity to Interstate 285, Vinings, Buckhead, and Downtown Atlanta. Mableton also enjoys a lower tax rate than neighboring Fulton County and Atlanta while benefiting from the acclaimed Cobb County school district.The buildings are brick exterior with pitched roofs and are made up of one, two and three bedroom floorplans. The property sits on a quiet slightly wooded 3 acre site with easy access via Veterans Memorial Highway.
• Each Property Is Individually Metered For Water and Sewer Through the City & Paid By Tenant, Drastically
Lowering Operating Expenses
• In Close Proximity to Interstate 75; a Major Interestate Highway that Spans the Entire State of Florida All
the Way Up to Northern Tip of the State of Michigan
• Strong Unit Mix With 67% Of The Units Being Two Bedroom Floor Plans
• Less Than 45 Miles From Downtown Tampa & 50 Miles From Tampa International Airport
• In Close Proximity to Weeki Wachee Springs, Home to the World Famous Underwater Mermaid Show &
Buccaneer Bay Water Park. Weeki Wachee Offers an Aquarium-Like Setting for its Live Performances
& Cave Diving. Additionally, the Caves Underneath Weeki Wachee Springs are Considered the Deepest
Fresh Water Caves in the United States
The Brooksville Portfolio is a portfolio of two separate apartment complexes and a three-bedroom
single-family home located in Brooksville, Florida which is located in Hernando County, part of the Tampa
Bay MSA. The property consists of 28 single story residential buildings, totaling 78 units. Each property sits
within a five minute commute of one another making this portfolio an attractive deal to manage and own.
Villas at Oakdale is a 41-unit, garden-style apartment built in 1985 and located on Oakdale Avenue. The
property is situated on a land parcel of 3.81 acres with 20 residential buildings constructed of wood frame
on concrete slab. The buildings are comprised of seven, one-bedroom/one-bathroom units with 550 square
feet and 33 two-bedroom/one-bathroom units with 675 square feet, additionally at Villas at Oakdale is a
three-bedroom/one-bathroom single family house with 1,032 rentable square feet. The house features a
fenced in yard, car port, upgraded kitchen and spacious floor plan. Interior unit amenities for the quadplex
and duplexes include full-size washer/dryer connections, all electric appliances and central air conditioning.
Residents are responsible for all utility expense as each unit is separately metered for water and electricity.
Mainbrook is a 37-unit, garden-style apartment community built in 1984 and located on Main Street. The
property is situated on a land parcel of 3.94 acres with 8 residential buildings constructed of concrete
block. The buildings are comprised of eight, one-bedroom/one bathroom units with 500 square feet, 19
two-bedroom/one-bathroom units with 750 square feet and 10 three-bedroom/one-bathroom units with 900
square feet. Property amenities include central air conditioning and an on-site laundry facility.
St Cloud, FL
- Units Are Separetely Metered For Water & Sewer And Paid By Tenant, Drastically Lowering Operating Expenses- Features Highly Desirable Concrete Block Construction And Pitched Roofs- Several Units Have Recently Underwent Interior Renovations With Plans To Completely Renovate The Property Upon Resident Move-Out- Private Swimming Pool For Resident Use Only- Less Than 25 Miles From Orlando International Airport, The 2nd Busiest Airport In The State Of Florida, And Major Economic Driver For The Surrounding Area- In Close Proximity To Florida's Turnpike, A North- South Toll Road That Runs Through 11 Counties In The State Of Florida- Less Than 20 Miles From World Famous Resorts & Attractions - Walt Disney World & Universal Studios
Three Oaks Apartments is a multifamily investment opportunity located in St. Cloud, Florida. The property consists of one, single story building located on .79 acres of land. The building was constructed of concrete block and features highly desirable pitched roofs. The unit mix consists of 12-1Bdr/1Bath apartments at 685 square feet and 2 2Bdr/2Bath at 925 square feet. The property has recently underwent renovations in vacant units with plans to renovate the remaining units once no longer occupied, allowing an immediate increase in rent. Three Oaks Apartments offers a fantastic opportunity to own in a limited supply market with immediate rent upside.
Franklin Street is pleased to present this newly constructed Sheetz in Greensboro, North Carolina. Sheetz has signed a new 15-year NNN lease which will commence in March. The building is currently scheduled to be completed in mid-2017. The building is offered significantly below what Sheetz typically invests in the infrastructure of a new location, which offers an investor a strong intrinsic value. The lease is very landlord friendly as the tenant is responsible for CAM, taxes, insurance, and all property maintenance. The site is strategically placed in a major retail corridor of Greensboro next to the University of North Carolina at Greensboro and the Greensboro Coliseum Complex.
Greensboro is the third largest city by population in the state of North Carolina and the center of the Piedmont Triad encompassing 1.6 million residents. Among Greensboro's many notable attractions, some of the most popular include the Wet 'n Wild Emerald Pointe water park, the Greensboro Science Center, the International Civil Rights Center and Museum, the Weatherspoon Art Museum, the Greensboro Symphony, the Greensboro Ballet, Triad Stage, the Wyndham Golf Championship, the headquarters of the Atlantic Coast Conference, and the Greensboro Coliseum Complex which hosts various sporting events, concerts, and other events. The Greensboro economy and the surrounding Piedmont Triad area, traditionally has been centered around textiles, tobacco, and furniture. Notable companies headquartered in Greensboro include the Honda Aircraft Company, Lorillard Tobacco Company, Kayser-Roth, VF, Mack Trucks, Volvo Trucks of North America, Qorvo, the International Textile Group, NewBridge Bank, The Fresh Market, Cook Out, Ham's, Biscuitville, Tripps, and Columbia Forest Products.
Franklin Street Real Estate Services is pleased to present this corporately guaranteed Bob’s Discount Furniture location in Monroeville, Pennsylvania. Monroeville is located in the Pittsburgh MSA which has approximately 2.6 million residents. Monroeville is an eastern suburb located 15 miles from downtown Pittsburgh. The subject property is part of the largest retail hub in the area, anchored by the Monroeville Mall. The property has excellent visibility on William Penn Hwy in front of a Sam’s Club. National retailers surrounding the property include: Kohl’s Michael’s, Bed Bath & Beyond, Petsmart, Home Depot, Toys”R”Us, among others.
This two-story location was built originally as an Office Depot and fully renovated in 2015 when Bob’s Discount Future signed a new 10-year lease which commenced when the store opened in April 2015. The tenant signed a landlord friendly NNN lease and the landlord has no responsibilities, as the tenant is responsible for CAM, taxes, insurance, and property maintenance. The lease is corporately guaranteed by Bob’s Discount Furniture who currently operates 69 locations across Northeast and Midwest. To help with expansion, Bain Capital acquired a majority stake in the company in 2014. Since inception, it has invested in or acquired hundreds of companies including AMC Theatres, Burger King, Burlington Coat Factory, Domino’s Pizza, Dunkin’ Donuts, Guitar Center, Staples, Toys“R”Us, among others. Bob’s Discount Furniture is widely recognized for its idiosyncratic advertising. Bob Kaufman has been characterized as “something of a celebrity in the Northeast, thanks to his quirky television commercials.”
Franklin Street is pleased to offer the Virginian Arms Apartments and the Arbor Oaks Apartments, located in the Westside Submarket of Jacksonville, Florida. The two properties, which are immediately adjacent to each other, are being offered as a portfolio of 116 units or separately. Below market rents and 3.6 acres of vacant, developable land will afford the investor an opportunity to add significant value to the properties.
Virginian Arms consists of 60 units in five two-story buildings spread over 5.19 acres of land. The concrete block buildings include 16 one-bedroom units of 725 square feet and 44 two-bedroom units of 925 square feet. There are 2.34 acres of vacant land behind the property zoned for Medium Density Residential (up to 18 units per acre).
Arbor Oaks consists of 56 units in four two-story buildings situated on two acres of land plus an additional 1.25 acre lot immediately adjacent to the south, which is zoned for Medium Density Residential (up to 18 units per acre). The four buildings are constructed of concrete block with 15 one-bedroom units of 625 square feet and 41
two-bedroom units of 825 square feet.
Investors can obtain this asset with a down payment of $1M and available high-leverage, non-recourse agency financing. The three-year interest only option will allow the investor to realize an immediate 17.5% leveraged return while adding value through management changes and higher rents, assuring outstanding future returns.
Portfolio Totalling 116 Units on Two Adjacent Propeties Virginian Arms: 60 Units, Built in 1968 Arbor Oaks: 56 Units, Built in 1978 Concrete Block Construction Value Add Opportunity Ideal Unit MIx of 31 One Bedroom and 85 Two Bedroom Units Includes 3.59 Acres of Vacant, Developable Land; Zoned For an Additional 56-60 Units Below Market Rents 17.5% Leveraged Return in Year One with High Leverage, Interest Only Agency Financing