Income Producing Investment # 1
RP Investor Portfolio
Purchase as an entire portfolio or in groups for the best discount
Property 1: Property ID: RP 01 Goff St. $84,900
111 Goff Street Charlotte, NC 28207
Ø LEASED Property, $650 per month through February ’09. Purchase as investment with tenant in place. Close to Uptown, totally renovated. Expected double or triple digit growth over next 5 years. Thomasboro neighborhood.
Property # 2: Property ID: RP 02 Bannister Pl. $128,900
906 Bannister Place, Charlotte, NC 28213
Ø LEASED property, $900 per month (Section 8) through January ’09. Purchase as investment with tenant in place. Huge house- 4 BR 2 BA.
Property # 3: Property ID: RP 03 Olando Ave. $89,900
2316 Olando Avenue, Charlotte, NC 28206
Ø LEASED property, $700 per month (Section 8) through Feb ’09. Purchase as investment with tenant in place. Close to Uptown, totally renovated. 4 BR 2 BA. Expected double or triple digit growth over next 5 years.
Property # 4: Property ID: RP 04 Wabash Ave. $77,900
606 Wabash Avenue, Charlotte, NC 28208
Ø LEASED property, $650 per month through February ’09. Purchase as investment with tenant in place. Close to Uptown, totally renovated. 2 BR 1 BA. Expected double or triple digit growth over next 5 years. Thomasboro neighborhood.
Property # 5: Property ID: RP 05 West 5th $99,900
110 West 5th Street, Gastonia, NC 28054
Ø Undergoing total renovation, ready mid February.
Property # 6: Property ID: RP 06 Dundeen St. $72,500
2420 Dundeen Street, Charlotte, NC 28216
Ø Undergoing total renovation. Close to Uptown. Washington Heights neighborhood. Expected double or triple digit growth over next 5 years.
Property # 7: Property ID: RP 07 Dundeen St. $72,500
2426 Dundeen Street, Charlotte, NC 28216
Ø Undergaing total renovation, Close to Uptown. Washington Heights neighborhood. Expected double or triple digit growth over next 5 years.
Property # 8: Property ID: RP 08 Sudbury Rd. $94,900
3420 Sudbury Road, Charlotte, NC 28205
Ø Undergoing Total renovation, 3 BR 1 BA. Windsor Park neighborhood.
Property # 9: Property ID: RP 09 Reliance St. $85,900
916 Reliance Street, Charlotte, NC 28208
Ø Totally renovated, 4 BR 1 BA. Thomasboro neighborhood.
Property # 10: Property ID: RP 10 Corbett Ct. $ Price TBD
3627 Corbett Court Charlotte, NC 28208
Ø Close to Uptown. Undergoing total renovation. 3 BR 2 BA.
Property # 11: Property ID: RP 11 Glenrock Dr. $ 69,900
217 Glenrock Drive, Charlotte, NC
Ø Totally renovated, New HVAC. Close to 77 off of Tyvola Road. 3 BR 2 BA.
Property # 12: Property ID: RP 12 Flat Creek Rd. $ 59,900 * SOLD *
3701 Flat Rock Lancaster, SC 29707
Ø Totally renovated. 3 BR 2 BA
Income Producing Investment # 2
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Now Pre-Selling Office and Medical Space (Building # 1 is Road Frontage, and is the top middle building, fronting Ballantyne Commons Parkway, Building # 2 is at the top right corner, with end frontage onto Ballantyne Commons Parkway, Buildings # 3 and #4 are the bottom right corner, Buildings #5 and #6 are the left middle buildings, and Building #7 is at the top left corner). The Stonecrest Shopping Center and Rea Road interchange is to the left- towards the upper left corner of the project). This center is two buildings away from Stonecrest Shopping Center (you can see shopping center from this building). The building is expected to have a main reception area and an elevator, and there will be a left turn lane from Ballantyne Commons Parkway directly beside our building and there will also be a rear entrance at the rear of the center on Williams Pond Lane. The remainder of the 7 building project will be zoned for high end, Professional office use only, for non-medical use. This Professional Park will be similar to Blakeney Professional Park (1/2 mile down the road at the intersection of Rea and Ardrey Kell Roads).
This is building # 1 of seven buildings- our building and one smaller building (3000 square feet) are the only road frontage buildings in the entire project. The Ballantyne area has incredible traffic counts and a lack of medical space (see a recent Charlotte Observer article, below).
The buildings are getting ready to begin construction in April/May 2007- estimated to be complete fall 2007.
Business
DEVELOPMENT
Ballantyne now a medical hot spot
Presbyterian deal highlights a suburban trend for providers
by: DOUG SMITH, Business Editor of The Charlotte Observer
You expect to see a lot of medical offices around hospitals, but 250,000 square feet amid the offices and shops of Ballantyne?
That's what the total will be when Presbyterian Healthcare occupies a new 48,000-square-foot building late next spring at Ballantyne Corporate Park.
The Charlotte provider of health services will lease The Bissell Cos.' Winslow Medical Building on Ballantyne Commons Parkway in Ballantyne Corporate Park.
The Ballantyne office park developer has experienced a "tremendous response to our medical product," which already is at 176,000 square feet, said Ned Curran, president of The Bissell Cos.
The amount in the 2,000-acre greater Ballantyne mixed-use development totals a quarter of a million square feet, he said, when you include Carolinas HealthCare System's facility in Ballantyne Commons East and other medical space. What's happening is health care providers are thinking more like retailers when deciding where to go next, said real estate analyst Frank Warren of Warren & Associates. "You have a defined trade area, and you are trying to serve those consumers," he said.
Also like retailers, Warren said, "health care providers are looking at demographics: They want to tap into household growth in the suburbs, and they want to be where the families are, where the seniors are." A big part of the strategy is seeking out locations where household income is above average and getting close to people who need more medical services than a typical consumer.
Ballantyne seems well situated in part because of the relatively affluent neighborhoods in and around it at U.S. 521 and Interstate 485 in south Charlotte.
And, Warren notes, medical providers are aware of the Sun City Carolina Lakes residential development emerging about 10 miles south of Ballantyne on U.S. 521 in Lancaster County, S.C. That community of 55 and older residents covers about 1,550 acres and is planned to include up to 4,400 homes.
Accessibility is a key factor working in favor of suburban developments like Ballantyne. The south Charlotte park's strategic location near an I-485 interchange is convenient to both Carolinas Medical Center-Pineville and Presbyterian Hospital Matthews. That makes it easy for Ballantyne medical providers to refer patients who need a greater level of service to one of those facilities, Warren said. Consumers, too, are a major influence. Today, busy families expect medical services to be as convenient as the grocery store, hair salon or fitness center.
Presbyterian Healthcare already has offices in 535-acre Ballantyne Corporate Park. The additional building will push its total square footage there to 67,000, according to The Bissell Cos. Suburban facilities are cost effective for medical providers, because land prices there typically are lower than in the central city and expensive-to-build parking decks usually aren't needed. The Winslow Medical Building will house Presbyterian's primary care services, a surgery center with three operating rooms, an endoscopy suite and a sleep center. It also will have MRI and other imaging capabilities, said spokeswoman Marcia Meredith.
Bissell Development, a division of The Bissell Cos., developed the building. LS3P Associates Ltd. designed it, and Turner Construction Co. built it.
This is the second large medical facility disclosed recently by Presbyterian Healthcare.
Doug Smith: 704-358-5174; dougsmith@charlotteobserver.com
Income Producing Investment # 3
Fully Furnished Day Care
Priced below market for immediate investment, ready to enroll students as an immediate income producing property!
Attention- all investors looking for a great, below market investment opportunity! Priced to sell at $650,000- which is -$350,000 below market value estimates for value of property at full enrollment!
This ALL BRICK, 3000 square feet building sits on 2.69 Acres, with the ability to add onto the current building or have other buildings built on the property to increase cash flow in the future! The Clover school board just bought 45 acres for a new school complex, which is located three parcels away from this Day Care facility! The actual building has direct road frontage on a major highway.
The owner paid an extra $47,700 for the furnishings to have it ready to be purchased as an immediate income producing property.
When filled to capacity, this property would be listed at $1,000,000.00, which represents a Cap rate of 29 %- so there is serious equity available in this transaction for the right buyer.
DSS may assist with subsidizing teacher salaries and estimated enrollment is expected to be $90 to $110.00 per child, as is, before the elementary school goes in. Estimated maximum capacity will be 90 children at capacity (Based on 100 children, minus square footage for the small kitchen and office space).
Basic Pro Forma- Clover Daycare- Based on 85 children
Income: $110.00 per child, per week
Gross Income: $486,200.00
Estimated Annual Expenses:
Administrator: $40,000.00
3 Full Time teachers: $75,000.00
2 Part Time teachers: $40,000.00
Maintenance: $ 2400.00
Utilities: $ 8,000.00
Insurance: $ 3000.00
Taxes 2006: $ 3757.57
Lawn Maintenance: $ 2600.00
Supplies / Groceries: $18,000.00
Total Estimated Annual Expenses: $192,757.57
Total Gross Income of $486,200 minus $192,757.57.00 Total Annual Expenses equals $293,242.43 Net Operating Income
Suggested Asking Price with operating business: $1,000,000.00 which represents a Cap rate of 29 %.
Investment Opportunity # 4
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Investment Opportunity # 5
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Investment Opportunity # 6
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