Chatuge Place

CHATUGE PLACE
5755 North Point Parkway, Suite 262
Alpharetta, GA 30022
770.481.1960
www.shanegroup.net
1620 U.S. 76, Hiawassee, GA
CHATUGE PLACE
770.481.1960 | www.shanegroup.net
1620 U.S. 76, Hiawassee, GA
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
Chatuge Place is an 81% leased, 20,242 SF retail shopping center located in the city of Hiawassee in the beautiful Northeast
Georgia mountains. The center enjoys excellent frontage and access along U.S. 76, the area’s major roadway, and is located in the
business district near downtown Hiawassee. The area is well known for its many natural attractions, most notably Lake Chatuge,
which sits directly across from the center. The center was constructed in 2001 and is in excellent physical condition. Chatuge
Place offers a diverse mix of tenants which serve the area perfectly, including a DFACS office, a Humane Society shelter, a dance
and art studio, a financial services office, a local church, and a restaurant.
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
 81% Leased—UPSIDE to 10.48% CAP
DEMOGRAPHICS
 Excellent Condition and Curb Appeal
 Located directly across the street from popular Lake Chatuge
 Popular tourist destination: Over 50,000 visitors every year
BUILDING: 20,242 SF | LAND: +/- 2.47 ACRES | YEAR BUILT: 2001
Hiawassee is the county seat of Towns County. Known as “The Top
of Georgia”, Towns County borders North Carolina in the beautiful
Northeast Georgia mountains. Hiawassee is located directly on Lake
Chatuge, a 7,050-acre man-made lake with 128 miles of shoreline.
The lake can easily be seen when traveling along Highway 76, the
county’s main roadway. Much of Towns County lies in protected
state and federal forestland, the most notable of which is a portion
of the 57,000-acre Chattahoochee National Forest. These and other
natural attractions continue to bring visitors to the area and help
support the local economy, which thrives on tourism. It is estimated
that over 50,000 visitors travel to the Towns County area every
year.
See accompanying Confidentiality Statement.
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
Subject
Happy Hawg BBQ
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Subject
Asiano
Restaurant
Towns County
Recreational Beach
Shoppes at Tater
Ridge
The Mall on Main
Timberlake
Village
Chatuge Regional Hospital
See accompanying Confidentiality Statement.
Terraces at
Town Center
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Lake Chatuge
Subject
See accompanying Confidentiality Statement.
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
Subject
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
N
See accompanying Confidentiality Statement.
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
SUBJECT
SUBJECT
SUBJECT
SUBJECT SIGNAGE
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
SUBJECT
SUBJECT
SUBJECT
SUBJECT SIGNAGE
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
SUITE
TENANT
SQUARE
FOOTAGE
LEASE TERM
% OF
CENTER
ST A R T
EX PIR A T ION
ANNUAL
ANNUAL
ESTIMATED
BASE RENT RENT/SQ. FT. RECAPTURE
AERIAL MAPS
1, 14 & 15
North GA Dance and Art
2,882
14.24%
Jun-15
Sep-18
$13,200
$4.58
-
4
DFACS
6,219
30.72%
Nov-14
Jun-17
$61,817
$9.94
$26,425
7
Catalyst Church
966
4.77%
Jan-16
MTM
$3,300
$3.42
-
LOCATION MAPS
8
Lincoln Financials
956
4.72%
Nov-14
Nov-16
$5,832
$6.10
-
DEMOGRAPHICS
10
Humane Society Shelter
3,351
16.55%
Apr-16
Jun-21
$14,400
$4.30
-
11
Vacant
928
4.58%
$7,424
$8.00
13
Bear Meadows Grill
1,976
9.76%
$12,000
$6.07
17
Vacant
2,964
14.64%
$17,784
$6.00
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
Apr-16
Jun-22
$135,757
20,242
Occupied 81%
Vacant 19%
See accompanying Confidentiality Statement.
16,350
3,892
81.43%
18.57%
-
$26,425
$110,549
$6.76
$25,208
$6.48
$26,425
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
Fin an cial
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
Building
Price:
Down Payment:
30.00%
Current CAP:
Market CAP:
Cost per Gross Square Foot:
Annual Rent per Square Foot:
$1,225,000
$367,500
9.08%
10.48%
$60.52
$6.76
Year Built:
Building Square Feet:
Land Parcel (Acres):
2001
20,242
+/- 2.47
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Loan Information
First Loan Amount:
n Interest Rate:
n Amortization:
n Term:
Monthly Payment:
Tenants
$857,500
n
n
n
n
4.75%
25
5
$4,888.76
Return
E xpen s es
Current Rents
See accompanying Confidentiality Statement.
DFACS
North Georgia Dance & Art
Humane Society Mountain Shelter
Bear Meadows Grill
Scheduled Gross Income
Plus Overage
Plus Recapture
Total Income
Less Vacancy
Gross Operating Income
Less Expenses
Net Operating Income
Loan Payments
Pre Tax Cash Flow
Plus Principal Reduction
$110,549
26,425
$ 136,974
Total Return Before Taxes
Proforma Rents
Taxes
Insurance
Maintenance
Electricity
Management
3.0%
Landscaping/Sweeping
Trash Removal
Reserves ($0.10 PSF)
$
19%
$ 136,974
25,736
$ 111,238
58,665
$ 52,573 14.3%
18,329
$ 135,757
26,425
$ 162,182
8,109 5.0%
$ 154,073
25,736
$ 128,337
58,665
$
69,672 19.0%
18,329
4,203
4,676
1,000
6,944
4,109
1,600
1,179
2,024
$
$
Total Expenses
$
25,736
70,902 19.3%
88,001 23.9%
CHATUGE PLACE
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
See accompanying Confidentiality Statement.
1620 U.S. 76, Hiawassee, GA
CHATUGE PLACE
1620 U.S. 76, Hiawassee, GA
770.481.1960 | www.shanegroup.net
INVESTMENT SUMMARY
AERIAL MAPS
PHOTOGRAPHS
RENT ROLL
FINANCIAL SUMMARY
LOCATION MAPS
DEMOGRAPHICS
Five Miles
Ten Miles
Fifteen Miles
Population
2016 Population
2010 Population
5 Year Projected
Growth Over the Past 6 Years
Projected Growth Over the Next 5 Years
9,823
8,794
10,430
11.70%
6.18%
23,000
21,323
24,149
7.86%
5.00%
41,786
39,212
43,931
6.56%
5.13%
Households
2016 Households
% Owner Occupied
% Renter Occupied
2010 Households
5 Year Projected
Growth Over the Past 6 Years
Projected Growth Over the Next 5 Years
4,145
42.00%
14.20%
3,813
4,436
8.71%
7.02%
9,907
45.80%
14.00%
9,287
10,441
6.68%
5.39%
17,957
46.70%
14.30%
16,937
18,920
6.02%
5.36%
Income
2016 Average Household Income
5 Year Projected
Projected Growth Over the Next 5 Years
$50,463
$56,014
11.00%
$51,118
$56,700
10.92%
$52,423
$57,974
10.59%
4,401
577
884
1,207
18,456
2,314
96.40%
0.60%
3.10%
0.30%
0.80%
1.00%
1.00%
96.00%
0.80%
3.00%
0.40%
0.50%
1.40%
0.90%
95.70%
0.80%
3.10%
0.50%
0.50%
1.50%
0.90%
2015 United Stated Median Household Income
Employment & Establishments
2016 Employees/Daytime Population
2016 Total Establishments
Race
White
Black
Hispanic Origin (Any Race)
American Indian/Eskimo
Asian/Pacific Islander
Two or More Races
Other Race
See accompanying Confidentiality Statement.
$53,657