Mountain View Village

N

LAND FOR SALE

M

AI

N

ST

±22 AC

T NS AI

SM

5 9

DOWNTOWN JASPER

515 9

CH

W CHURCH ST

53 9

53 9

W

R HU

ST

C

SITE

S MAIN ST

5 9 515 9

MOUNTAIN VIEW VILLAGE GA-5 + W CHURCH ST // JASPER, GA 30143 PREPARED BY:

KEITH GUTHRIE

Senior Vice President kguthrie@skcr.com 404.790.7271

TOM KIRBO

President tkirbo@skcr.com 678.429.5849

53 9

TABLE OF CONTENTS 1 2 3

INVESTMENT HIGHLIGHTS

Executive Summary General Information

PROPERTY OVERVIEW

Detailed Survey Nearby Amenities Proposed Project Renderings

MARKET OVERVIEW

Submarket Analysis – Retail Submarket Analysis – Office Submarket Analysis – Multifamily Demographics

INVESTMENT HIGHLIGHTS

INVESTMENTSUMMARY EXECUTIVE HIGHLIGHTS SITE

SK Commercial is pleased to offer the sale of Mountain View Village, a mixed-use development site in Jasper, GA, strategically located at the corner of GA-5/515 N and W Church St/Hwy 53.

The site is entitled to 152 multifamily units, 25 townhomes, 30,000 SF of retail/office space, and green spaces, all in the shadow of north Georgia’s majestic mountain range.

SITE

This mixed-use development will benefit from its location, which offers ease of access to interstates, amenities, employment centers, and an array of local, national, and international dining and retail options. The property is one mile from Jasper’s charming downtown district, which boomed with business during the pandemic era.

Jasper’s newest mixed-use development will be visible from W Church St and GA-5/515 N, where a combined figure of 29,689 cars pass by the property per day*. The demographics in the area are also strong, with the average income within a 3-mile radius is $78,000/year*.

This will be an outstanding investment for many years to come. *Data gathered via Placer.AI

SITE

KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

TOM KIRBO

tkirbo@skcr.com 678.429.5849

4

INVESTMENT GENERAL INFORMATION HIGHLIGHTS NAME:

Mountain View Village

USE:

Mixed-Use: Residential, Office, Medical, Dining/Retail

SIZE:

963,590 SF / 22.121 AC

EXISTING STRUCTURES:

0

MAX BUILDING HEIGHT:

30’

ACCESS POINTS:

3 curb cut / 1 signaled light

PAD READY:

Yes

PARCEL NUMBERS:

041-015; 041-015-003

ZONING:

CBD

BLUE RIDGE MOUNTAIN RANGE

SITE

KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

TOM KIRBO

tkirbo@skcr.com 678.429.5849

5

PROPERTY OVERVIEW

INVESTMENT DETAILED SURVEY HIGHLIGHTS 152 MULTIFAMILY UNITS » 3 stories » Constructed with neutrals, grays, and darker accent colors

INTER PARCEL CONNECTION TO INGLES MARKET INC.

» Energy star appliances & windows

10' SIDE B.S.L.

10' SIDE B.S.L.

OPEN SPACE 7

24'

9'

PROPOSED DUMPSTER

24' 9'

SS SS

SS

IP "D SS SS SS

24'

20

9'

'

5

OPEN SPACE

SS ESMT.

GARAGE SLAB

PORCH SLAB

GARAGE SLAB

45'

KINGSLAND-B 1,336 S.F.

PATIO SLAB

KINGSLAND-C 1,336 S.F.

GARAGE SLAB

SS

.

PR.MH C/O

45'

KINGSLAND-C 1,336 S.F.

KINGSLAND-A 1,336 S.F.

20'

26'

PATIO SLAB

26'

PATIO SLAB

KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

26'

26'

PATIO SLAB

PERVIO

US ST

50' CO

UNTY

DIP .8" PR PORCH SLAB

PORCH SLAB

PORCH SLAB

26'

PORCH SLAB

GARAGE SLAB

GARAGE SLAB

GARAGE SLAB 45'

45'

KINGSLAND-A 1,336 S.F.

DOG PARK

45'

26'

PATIO SLAB

KINGSLAND-B 1,336 S.F.

26'

PATIO SLAB

KINGSLAND-C 1,336 S.F.

KINGSLAND-A 1,336 S.F.

26'

PATIO SLAB

26'

PATIO SLAB

OPEN SPACE

.

.S.L

EB

SID

OPEN SPACE

REAM

STREAM

26'

26'

45'

26'

PATIO SLAB

PATIO SLAB

SS

75' IM

GARAGE SLAB

45'

KINGSLAND-C 1,336 S.F.

TOWNHOUSE ACREAGE = 3.47

10'

SS

CLICK HERE TO VIEW MORE DETAILED SURVEYS

C/O

45'

PROPOSED STORMWATER MANAGEMENT AREA

SS

OPEN SPACE

PORCH SLAB

GARAGE SLAB

45'

KINGSLAND-B 1,336 S.F.

26'

PATIO SLAB

SS

SS

PORCH SLAB

PORCH SLAB

45'

PORCH SLAB

PORCH SLAB

GARAGE SLAB 45'

26'

PATIO SLAB

S.S .E.

SS

10' SIDE B.S.L.

SS

P SS R.8

"D

SS

IP

SS

20 '

SS

SS

20 'S .S.E

SS

SS

C/O

45'

KINGSLAND-B 1,336 S.F.

SS SS

PORCH SLAB

GARAGE SLAB

GARAGE SLAB 45'

KINGSLAND-A 1,336 S.F.

OPEN SPACE

SS

PORCH SLAB

GARAGE SLAB

SS

SS

SS SS

24'

GARAGE SLAB

TRACT: 6 3.47 ACRES

24'

PORCH SLAB

PORCH SLAB

GARAGE SLAB

45'

45'

OPEN SPACE

SS

PORCH SLAB

PORCH SLAB

PROPOSED DUMPSTER

26'

OPEN SPACE

OPEN SPACE

PORCH SLAB

PORCH SLAB

15'

KINGSLAND-A 1,336 S.F. 45'

GARAGE SLAB

PATIO SLAB

PR.MH

SS

SS

PROPOSED 40' ACCE

PR.MH

KINGSLAND-C 1,336 S.F. 45'

GARAGE SLAB

25' FRONT B.S.L. 20' LANDSCAPE STRIP

18'

26'

26'

KINGSLAND-B 1,336 S.F. 45'

GARAGE SLAB

GARAGE SLAB

OPEN SPACE

10' SIDE B.S.L.

9'

SS

SS

9

PR.MH OPEN SPACE

PATIO SLAB

PATIO SLAB 26'

KINGSLAND-A 1,336 S.F. 45'

GARAGE SLAB PORCH SLAB

SS

SS

18'

PATIO SLAB

26'

26'

KINGSLAND-C 1,336 S.F.

GARAGE SLAB

PORCH SLAB

PORCH SLAB

SS

B

PATIO SLAB

PATIO SLAB 26'

KINGSLAND-B 1,336 S.F. 45' 45'

GARAGE SLAB

GARAGE SLAB PORCH SLAB

SS

SS

10' SIDE B.S.L.

C/O

PATIO SLAB

C/O

20'

45'

GARAGE SLAB PORCH SLAB

C/O

KINGSLAND-A 1,336 S.F.

SS

40'

25'

GARAGE SLAB

IP STR

SS

C/O PR.MH

6

9'

KINGSLAND-C 1,336 S.F.

45' 45'

E AP DSC LAN

SS

B

APARTMENT UNITS 12,242 S.F.

26'

26'

KINGSLAND-B 1,336 S.F.

45'

25' FRONT B.S.L.

PATIO SLAB

PATIO SLAB

KINGSLAND-A 1,336 S.F.

20'

SS

10' REAR B.S.L.

SS

SS

PATIO SLAB

26'

18'

7

PATIO SLAB

OPEN SPACE PATIO SLAB

5'

3 B (26)TRACT: PROPOSED

30'

PORCH SLAB

5 26'

APARTMENT UNITS 12,242 S.F.

20' LANDSCAPE STRIP

KINGSLAND-C 1,336 S.F.

24'

PORCH SLAB

SS

SS

16' SS

20

44'

3 B (26)TRACT: PROPOSED

PR.8"DIP

PR.MH

18'

SS

18'

6

PROPOSED R.O.W.

24' 9'

20' 60'

SS

5'

54'

20

PROPOSED 30' X 25' PLAY GROUND

(295) TOTAL SPACES

9'

PROPOSED R.O.W.

STRIP

C/O

18'

16'

5

KINGSLAND-B 1,336 S.F.

20

SS

SS

5'

9'

18'

6

OPEN SPACE 20' FRONT B.S.L./LANDSCAPE

24'

SS

SS

PROPOSED R.O.W. 18'

5 24'

SS

SS

20 24'

20

18'

20

9'

PATIO SLAB

9'

SS

SS

18'

18'

PROPOSED R.O.W.

KINGSLAND-A 1,336 S.F.

SS

APARTMENT ACREAGE = 6.63

GARAGE SLAB

9'

PR.8"DIP

SS

20

(50) TOTAL SPACES

SS

18'

24'

SS

SS

SS SS

SS

50

'

9'

PROPOSED DUMPSTER

'

18'

18'

20

SS

'

50

'

SS

'

50

10

PR.8"DIP

PR.8"DIP

SS

SS

OPEN SPACE

10' REAR B.S.L.

'

50

11

20

D

20

C

18'

. .S.L RB E EA AC 'R SP 15 EN OP 5 T: D AC SE TR OPO S.F. IL PR ,000 ETA 10 ICE/R RES 20' C F OF .58 A20' 1'

'

B

A

20

D

APARTMENT UNITS 12,242 S.F.

'

4C B (26)TRACT: PROPOSED

20

A

18'

20'

E AC SP EN OP RIP PE ST DSCA ./LAN

SS

& AC

60'

'

50

5'

5'

20 24'

40' 60'

18'

50

9'

B.S.L ONT

D

OPEN SPACE

E

C

C/O

20'

60'

18'

5'

'

50

'

18'

SS

C/O

D

APARTMENT UNITS 12,242 S.F.

SS

MT.

ES CESS

C

50

'

D

D

APARTMENT UNITS 11,100 S.F.

'

SPAC

SS

» Constructed with masonry and wood accents » Covered entrances

TRACT: 4 C B (24) PROPOSED

B 30'

50

8

OPEN

SS

3C B (26)TRACT: PROPOSED

OPEN SPACE

' R/W

A A

PR.MH

20'

'

18'

5'

20

D

C

9'

17

SS

» Proposed as 3 ~10,000 SF buildings D 60

C/O

20' FR

B

SS

30,000 SF OFFICE/RETAIL SPACE

POSE

SS

'

SS

D

OPEN SPACE

PRO

'

50

PR.MH

20

SS

» Garage parking/storage

PROPOSED 12' DRIVE THUR

9'

18'

8

18'

23

36'

.L.

EN

OP

9'

P STRI APE NDSC .

20' LA B.S.L ONT 25' FR

SS

3C B (24)TRACT: PROPOSED

B

E B.S

24'

OPEN SPACE

15' REAR B.S.L.

OPEN SPACE

SS

C/O

APARTMENT UNITS 11,100 S.F.

A

10' SID

PROPOSED R.O.W. SPACE

9'

12' 9'

18'

SS

SS

9'

OPEN SPACE

A

60'

18'

SS

SS

18' 24'

30'

SS

PR .8 SS

PR.MH

5'

A

20' 18'

12

24'

20

A

18'

SS

SS

SS

OPEN SPACE

PR.8"DIP

10' SIDE B.S.L. 10' SIDE B.S.L.

20

» Constructed with neutrals, grays, and darker accent colors

PR.MH

PROPOSED R.O.W.

10' SIDE B.S.L. 10' SIDE B.S.L.

PR.MH

SS

SS

» 2- and 3-bedroom options

4

SS

SS

SS

C/O

8

OPEN SPACE

OPEN SPACE

18'

9'

9'

SS

SS

» 26’ wide

24'

18' 24'

SS

5

24'

TRACT: 2 PROPOSED 9,000 S.F. OFFICE/RETAIL 1.19 ACRES

19

PR.8"DIP

(63) TOTAL SPACES

18'

SS

10' SIDE B.S.L.

OPEN SPACE

SS

25 TOWNHOME UNITS

5'

60' 20'

SS

8

18'

IP

9'

C/O

APE STR

SS

24' 18'

1.56 ACRES

20

SS

SS

(46) TOTAL SPACES

TRACT: 1 PROPOSED 12,000 S.F. OFFICE CONDO

7 24'

SC LAND

16

15' REAR B.S.L.

9'

SS

SS

18' 18'

.L./ ONT B.S

24'

20' FR

SS

» Surface parking

OPEN SPACE

24'

SS

15

36'

SS

18'

BUFFER

BUFFER

TOM KIRBO

tkirbo@skcr.com 678.429.5849

7

NEARBY AMENITIES 53 9 PIZZA HUT

53 9

MCDONALD’S

JASPER PROFESSIONAL CENTER

AUTOZONE INTER PARCEL CONNECTION TO INGLES MARKET INC.

10' SIDE B.S.L.

DOWNTOWN JASPER ±1.5 MI

BURGER KING

COMMUNITY BANK OF PICKENS COUNTY

10' SIDE B.S.L. OPEN SPACE

7

24'

9'

PROPOSED DUMPSTER

SS SS

SS

SS

IP SS

.8 "D PR SS

SS

18'

9'

5

SS

SS ESMT.

PR.MH

PORCH SLAB

SS

GARAGE SLAB

GARAGE SLAB

45'

26'

KINGSLAND-C 1,336 S.F.

GARAGE SLAB

26'

PATIO SLAB

45'

KINGSLAND-B 1,336 S.F.

26'

PATIO SLAB

KINGSLAND-C 1,336 S.F.

SS

.S.E .

20

SS

SS

PR

10' SIDE B.S.L.

.8"

SS

DIP

SS SS SS

20'

±1.4 MI

OPEN SPACE

PERVIO

UNTY

DAY’S CHEVROLET OF JASPER

ISTUR

25'UND

PERVIO

REAM

STREAM

US ST

REAM

DIP .8" PR PORCH SLAB

26'

GARAGE SLAB

USPS

GARAGE SLAB

45'

KINGSLAND-C 1,336 S.F.

PORCH SLAB

PORCH SLAB

GARAGE SLAB

PORCH SLAB

GARAGE SLAB GARAGE SLAB 45'

45'

DOG PARK

45'

KINGSLAND-A 1,336 S.F.

KINGSLAND-B 1,336 S.F.

26'

26'

26'

PATIO SLAB

PATIO SLAB

KINGSLAND-C 1,336 S.F.

KINGSLAND-A 1,336 S.F.

26'

PATIO SLAB

PATIO SLAB

TOWNHOUSE ACREAGE = 3.47

26'

PATIO SLAB

OPEN SPACE

.

.S.L

EB

SID

BUFFER

BUFFER

REAM

BED ST

UNTY

75' IM

KEITH GUTHRIE

BED ST

ISTUR

50' CO

kguthrie@skcr.com 404.790.7271

REAM

STREAM

26'

26'

45'

OPEN SPACE

US ST

50' CO 25'UND

PORCH SLAB

GARAGE SLAB

26'

10'

SS

75' IM

C/O

45'

PROPOSED STORMWATER MANAGEMENT AREA

SS SS

PORCH SLAB

PORCH SLAB

45'

KINGSLAND-B 1,336 S.F.

PATIO SLAB

SS

PIEDMONT HOSPITAL MOUNTAINSIDE

PORCH SLAB

PORCH SLAB

45'

26'

PATIO SLAB

SS

SS

KINGSLAND-A 1,336 S.F.

26'

PATIO SLAB

OPEN SPACE

SS

PORCH SLAB

45'

GARAGE SLAB

45'

45'

KINGSLAND-A 1,336 S.F.

26'

PATIO SLAB

'S

'S .S.E .

20

SS

SS SS

PR.MH C/O C/O PORCH SLAB

GARAGE SLAB

45'

KINGSLAND-B 1,336 S.F.

PATIO SLAB

SS

OPEN SPACE

PORCH SLAB

PORCH SLAB

24'

GARAGE SLAB

TRACT: 6 3.47 ACRES

24'

PORCH SLAB

PORCH SLAB

GARAGE SLAB

GARAGE SLAB 45'

OPEN SPACE

SS

PORCH SLAB

PORCH SLAB

PROPOSED DUMPSTER

PR.MH

OPEN SPACE

PORCH SLAB

15'

KINGSLAND-A 1,336 S.F. 45'

GARAGE SLAB

SS

SS

PROPOSED 40' ACCE

KINGSLAND-C 1,336 S.F. 45'

GARAGE SLAB

25' FRONT B.S.L. 20' LANDSCAPE STRIP

18'

26'

26'

KINGSLAND-B 1,336 S.F. 45'

GARAGE SLAB

PORCH SLAB

SS SS

SS SS

9

OPEN SPACE

10' SIDE B.S.L.

9'

PR.MH OPEN SPACE

PATIO SLAB

PATIO SLAB 26'

KINGSLAND-A 1,336 S.F. 45'

GARAGE SLAB

SS

SS

18'

PATIO SLAB

26'

26'

KINGSLAND-C 1,336 S.F.

GARAGE SLAB

SS

B

26'

KINGSLAND-B 1,336 S.F. 45'

PORCH SLAB

PORCH SLAB

SS

SS

10' SIDE B.S.L.

C/O

PATIO SLAB

PATIO SLAB

C/O

45'

PORCH SLAB

TRIP

40'

25'

PATIO SLAB

GARAGE SLAB

GARAGE SLAB PORCH SLAB

25' FRONT B.S.L.

20'

45'

45'

GARAGE SLAB

ES

SS

C/O PR.MH

6

9'

45'

GARAGE SLAB

C/O

KINGSLAND-A 1,336 S.F.

SS

APARTMENT UNITS 12,242 S.F.

45'

KINGSLAND-C 1,336 S.F.

P CA

SS

B

7

26'

26'

KINGSLAND-B 1,336 S.F.

SS

3 B (26)TRACT: PROPOSED

30'

DS LAN

APARTMENT UNITS 12,242 S.F.

20' LANDSCAPE STRIP

PATIO SLAB

PATIO SLAB 26'

KINGSLAND-A 1,336 S.F.

20'

SS

10' REAR B.S.L.

SS

SS

PATIO SLAB

26'

18'

PATIO SLAB

OPEN SPACE PATIO SLAB

5'

KINGSLAND-C 1,336 S.F.

24'

5

PATIO SLAB

20

KINGSLAND-B 1,336 S.F.

SS

SS

9'

GARAGE SLAB

18'

SS

5' 44'

SS

9'

3 B (26)TRACT: PROPOSED

PR.8"DIP

PR.MH

18' 16'

SS

18'

54'

6

PROPOSED R.O.W.

24'

20' 60'

SS

SS

20

OPEN SPACE

PROPOSED R.O.W.

STRIP

C/O

18'

16'

5

18'

6

24'

20

20

PROPOSED 30' X 25' PLAY GROUND

(295) TOTAL SPACES

24'

OPEN SPACE 20' FRONT B.S.L./LANDSCAPE

SS

SS

PROPOSED R.O.W.

5 24'

9'

SS

SS

20 24'

5'

18'

20

9'

PATIO SLAB

SS

SS

9'

18'

18'

PROPOSED R.O.W.

PORCH SLAB

SS

APARTMENT ACREAGE = 6.63

KINGSLAND-A 1,336 S.F.

9'

PR.8"DIP

SS

20

(50) TOTAL SPACES

SS

18'

SS

SS

20

GARAGE SLAB

SS

5'

24'

PROPOSED DUMPSTER

'

50

'

SS

24'

20

9'

'

SS

18'

18'

20

D

'

50

'

SS

C

'

50

11

20

B

A

'

50

20

APARTMENT UNITS 12,242 S.F.

18'

E AC SP EN OP RIP PE ST DSCA /LAN

D

'

50

5'

10

E

D

20'

4C B (26)TRACT: PROPOSED

1.58 ACRES

B.S.L.

SS

C

18'

A

18'

20'

18'

SPAC

B

60'

C/O

OPEN

SS

APARTMENT UNITS 12,242 S.F.

60'

SS

C/O

D

OPEN SPACE

30'

SS

3C B (26)TRACT: PROPOSED

A

ONT

PR.MH

'

50

9'

SS

SS

SS

SS

OPEN SPACE

C

'

D

D

APARTMENT UNITS 11,100 S.F.

20

TRACT: 4 C B (24) PROPOSED

B

'

50

'

A A

P

SS

OPEN SPACE

5'

'

50

20

C

20'

'

50

8

'

D

APARTMENT UNITS 11,100 S.F.

18'

5'

20

B

9'

17

. .S.L RB CE EA PA 'R 15 NS E OP 5 T: D AC SE TR OPO S.F. IL PR ,000 RETA ' 10 E/ 20 FIC ' OF

PR.8"DIP

C/O

'

10' REAR B.S.L.

'

50 SS

20

D

A

DRIVE THUR

9'

'

3C B (24)TRACT: PROPOSED

40' 60'

18'

23

18'

8

20' FR

SS

PRO

T.

ESM

O

20

SS

515 9

CESS

& AC

N PE

STRI APE NDSC 20' LA B.S.L. ONT 25' FR

SS

A

A

.L.

PROPOSED R.O.W. SPACE

9'

12'

PR.MH

5'

OPEN SPACE

R/W

18'

9' 36'

THE RETREAT AT JASPER ASSISTED LIVING

E B.S

12

SS

OPEN SPACE

SS

C/O

SS

SS

9'

18'

OPEN SPACE

60'

10' SID

18'

SS

OPEN SPACE SS

SS

9'

24'

30'

D POSE

60'

24'

24' 18'

20

RENASANT BANK

20'

PR.MH

10' SIDE B.S.L. 10' SIDE B.S.L. 20

MOUNTAINSIDE PLAZA

8

18'

PROPOSED R.O.W.

PR.8"DIP

SS

15' REAR B.S.L.

PR.MH

10' SIDE B.S.L. 10' SIDE B.S.L.

PR.MH

SS

SS

STARBUCKS

4

SS

SS

SS

C/O

18'

OPEN SPACE

OPEN SPACE

18'

9'

SS

SS

INGLES MARKET

24'

9'

24'

SS

5

24'

TRACT: 2 PROPOSED 9,000 S.F. OFFICE/RETAIL

PR.8"DIP

(63) TOTAL SPACES

18'

SS

SS

5'

19

60' 20'

18'

PR.8"DIP

15' REAR B.S.L.

10' SIDE B.S.L.

8

OPEN SPACE

9'

20

OPEN SPACE

SS

18'

C/O

STRIP

(46) TOTAL SPACES

24'

1.56 ACRES

SS

SS

18'

TRACT: 1 PROPOSED 12,000 S.F. OFFICE CONDO

7 24'

SS

16

APE NDSC .L./LA ONT B.S

SS

9'

20' FR

SS

24' 18'

OPEN SPACE

24'

SS

15

36'

SS

9'

SS

24'

SS

18'

BUFFER

BUFFER

BUFFER

BUFFER

TOM KIRBO

tkirbo@skcr.com 678.429.5849

8

PROPOSED PROJECT RENDERINGS

MULTIFAMILY

OFFICE

MEDICAL

RETAIL

KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

TOM KIRBO

tkirbo@skcr.com 678.429.5849

9

MARKET OVERVIEW

SUBMARKET ANALYSIS PICKENS COUNTY RETAIL SUBMARKET Vacancy in the Pickens County retail submarket is 5.3% and has increased 3.2% over the past 12 months. During this period, there has been 45,000 SF of negative absorption, and 21,000 SF has been delivered. Total availability, which includes sublease space, is 5.7% of all inventory.

Within this submarket, General Retail is the largest subtype, with 1.6 million SF in this category. Despite a substantial increase in available space, rents have increased 5.1% over the past year, to around $14.90/SF. In the past three years, rents have increased a cumulative 20.5%.

About 26,000 SF is under construction, representing a 1.3% expansion of inventory. In the past 12 months, 10 sales have taken place. Sales have averaged $138/SF, and the estimated value for the submarket as a whole is $163/SF. Over the past three years, there have been 51 sales, which have traded for approximately $35.9 million. The market cap rate for Pickens County is 7.1%, moderately below its trailing three-year average of 7.6%. *Information gathered via CoStar market data

2.1M

INVENTORY SF KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

26K

UNDER CONSTR SF

(45.1K)

12 MO NET ABSORP SF

5.3%

VACANCY RATE

$14.93

MARKET RENT / SF

TOM KIRBO

tkirbo@skcr.com 678.429.5849

11

SUBMARKET ANALYSIS PICKENS COUNTY OFFICE SUBMARKET Vacancy in the Pickens County office submarket is 4.5%, which is the same level it was 12 months ago. Meanwhile, the rate of increase in the broader Atlanta market was 0.9%.

During this period, 95 SF has been absorbed, and nothing has delivered. Total availability, which includes sublease space, is 5.9% of all inventory. Space rated 1 & 2 Star is the most dominant subtype, with 200,000 SF in this category, followed by 180,000 SF of 3 Star space.

There is no 4 & 5 Star space in this submarket.

Rents are around $21.00/SF, which is a 1.4% increase from where they were a year ago. In the past three years, rents have increased a cumulative 11.0%. This is also a very affordable submarket, relative to Atlanta as a whole, where average rents are $28.00/SF. There is nothing under construction, and nothing has delivered in the past three years There have been 8 sales over the past year.

Over the past three years, there have been 20 sales, which have traded for approximately $3.8 million. The market cap rate for Pickens County is 9.0%, moderately above its trailing three-year average of 8.4%. *Information gathered via CoStar market data

378K

INVENTORY SF KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

0

UNDER CONSTR SF

95

12 MO NET ABSORP SF

4.5%

VACANCY RATE

$21.03

MARKET RENT / SF

TOM KIRBO

tkirbo@skcr.com 678.429.5849

12

SUBMARKET ANALYSIS PICKENS COUNTY MULTIFAMILY SUBMARKET Pickens County is a very small submarket within the larger Atlanta market, with just 279 units of inventory.

While it is modestly sized, there have been 3 sales and 24 units added in the past decade. Space rated 3 Star is the most dominant subtype, with a total number of 199 units in this category, followed by 80 units of 1 & 2 Star space.

There are no units in the 4 & 5 Star classification in this submarket. *Information gathered via CoStar market data

279

INVENTORY UNITS KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

0

(9)

UNDER CONSTR UNITS 12 MO NET ABSORP SF

6.0%

VACANCY RATE

$1,222

ASKING RENT / UNIT

TOM KIRBO

tkirbo@skcr.com 678.429.5849

13

DEMOGRAPHICS 5 MILES

10 MILES

POPULATION 2023

16,650

44,120

PROJECTED POPULATION 2028

17,383

44,120

PROJECTED GROWTH RATE: 2023-2028

0.9%

1.2%

# OF HOUSEHOLDS 2023

6,250

16,714

PROJECTED # OF HOUSEHOLDS 2028

6,512

17,686

MEDIAN HOME VALUE

$216,772

$255,771

AVERAGE HOUSEHOLD INCOME

$73,612

$88,865

MEDIAN AGE

42.6

46.3

EMPLOYMENT RATE

94.8%

94.9%

BACHELOR’S DEGREE OR HIGHER

16%

25%

*Information gathered via CoStar and Placer.AI market data

KEITH GUTHRIE

kguthrie@skcr.com 404.790.7271

TOM KIRBO

tkirbo@skcr.com 678.429.5849

14

KEITH GUTHRIE

Senior Vice President kguthrie@skcr.com 404.790.7271

TOM KIRBO

President tkirbo@skcr.com 678.429.5849

THANK YOU

404.252.1200 // www.skcr.com 900 Circle 75 Parkway #720, Atlanta, GA 30339