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West EndUrban Infill Mixed Use Development Opportunity
879 & 889 Ralph D. Abernathy Blvd., Atlanta, GA
Kevin Russell, CCIMSenior Vice President310.436.1764 [email protected] GA Lic #368833
Exclusively listed by: Laurence SaperSenior Vice President310.436.1767 [email protected] CA BRE License #00886797
FOR SALEExecutive Summary
Conceptual Rendering, Subject to Change
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
The Opportunity - West End Urban Lofts Development
NAI Capital, Inc. and Gibraltar Investment Partners as the exclusive agent, presents this opportunity to acquire a rare Urban Infill Multifamily Mixed Use Development Project located in the heart of the Historical West End District.
The subject is a .56-acre infill land parcel which the investor would acquire to develop a 4-story urban apartment project with ground floor/street facing retail. The site is located at 879 – 889 Ralph D. Abernathy Blvd., and minutes from Tyler Perry’s new multi-million dollar film studio development project at Fort McPherson, and walking distance from several Atlanta Historical Universities
West End Urban Lofts is within the West End Historical District would compliment the existing renaissance of new urban development and construction. A broad range of potential developments are permitted: multifamily, retail and office with a maximum height of 4 stories. The Site is currently utilized as a multi-tenant retail building, containing a well known health-food restaurant, a barber shop, hair salon, and a tax/accounting office.
Urban Lofts mixed used development project will feature residential units within walking distance from the CVS Pharmacy, West End Shopping Mall and MARTA Rail Station; creating a walkable live, work and shop experience for its residents. Conceptually, the major thrust of this project is to emphasize the directness and simplicity that complements the affordability of the project while still producing good architecture. The project provides an overall neutral field that blends with the existing architecture. The residential units average 700 to 1,200 SF and incorporate features that maximize their spaciousness and livability. The emphasis will be on inventive design that effectively utilizes every cubic foot of unit area to the residents’ advantage.
Overview of the Property
Executive Summary
Property Highlights
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
Property Description
Location 879 – 889 Ralph D. Abernathy BoulevardAtlanta, CA
Parcel Size Lot Size is .56 Acres & 28,268 Existing Building SF
Zoning “West End Historical District” of Atlanta’s SouthwestCorridor Specific Plan; allows by right up to a 4-story multifamily & retail mix use development with a affordable component
Usage Proposed New Development of Ground Floor Retail and Multi-Family Apartment Units
Unit Size Range 600 SF to 1,120 SF (Estimates)
APNs 14-0108-LL0086 & 14-0108-LL0094
Existing Currently operating as a street-front retail/Commercial facility, with a Health Food Restaurant, Barber Shop, Hair Salon and Accounting/Tax Office
Surrounding Area The subject is centrally located to all major amenities and conveniences in an urban core setting. Distance to:
Retail Services: Walking DistanceFreeway: Minutes to Highway 20 & 85MATRA Rail: Walking DistanceAirport: Less Than 5 Miles
Parcel Description Rectangular building
School District Atlanta Unified City School District
Public Utilities Domestic Water: City of AtlantaSanitary Sewer: City of AtlantaNatural Gas: Georgia PowerElectrical: Georgia Power
Executive Summary
Property Description
Conceptual Render ing, Subject to Change
Conceptual Render ing, Subject to Change
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
Offering GuidelinesProposed Deal Structure: All Cash
Asking Price: $2,800,000
Due Diligence Period: 45 Days
Deposits: Buyer will provide a minimum Initial Deposit of One Hundred Thousand Dollars ($100,000) at the Opening of Escrow. The Deposit shall remain refundable during the 45-day Due Diligence Period. Upon Buyer’s approval of its Due Diligence, Buyer shall make an additional deposit of Fifty Thousand Dollars ($50,000) at which time the total deposit shall become non-refundable to Buyer and applicable to the Purchase Price.
Title & Escrow: Title shall be held with a national and reputable 3rd party escrow and title compa-ny with a local office in the Atlanta, GA area.
Opening of Escrow: Upon delivery to Escrow of the fully executed Purchase and Sale Agreement (PSA) and the Initial Deposit.
Close of Escrow: The Close of Escrow shall be within 30-days upon the completion of buyer’s due diligence period.
Deliverables: • Property Plot Map• Property Blueprints• Existing Tenant Leases & Rent Roll• Financial Operating Statements• Proof of Current Insurance• Current Property Taxes• Owner Paid Utility Statements • Warranties & Service Contracts• List of Recent Capital Improvements
Comments: Buyer will be responsible for conducting its own pre-construction due diligence and gathering of inspection reports
Executive Summary
Offering Guidelines
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
Bird’s Eye View
New Mixed Use Condo
Development
Black & White
PMS 3425PMS 200
REDc-0 m-100 y-65
GREENc-100 m-0 y-76
PMS 3425
PMS 200
West End Mall
Executive Summary
Aerial Views
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
• Two million dollars in new sidewalks, trees, streetlights, and other street-scape improvements for the West End, under the Livable Centers Initiative by Atlanta Regional Commission
• Convenient to AUC Campuses
• Near Downtown nightlife, dining and entertainment
• Easy commute to Downtown offices
• A few minutes from great shopping
• Quick access to MARTA and major highways
• New Urban Walmart Supercenter at Historic Westside Village
• Minutes from The Mall West End
Historic West End Offers
New Sky Lots Retail/Condos
Public Transportation
The West End Mall
Executive Summary
West End Overview
Kevin Russell, CCIM 310.436.1764 directGA Lic #368833
Laurence Saper310.436.1767 directCA BRE #00886797
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein. Logos are for identification purposes only and may be trademarks of their respective companies. NAI Capital, Inc. CA BRE Lic. #01990696.
Executive Summary
Location Maps
West End Location Maps
