Macon, GA - The Summit Group

820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Sale Offering
$2,600,000
Student Housing | Two Buildings | 36 Units | 144 Beds
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8.708 acres
47,886 square feet
Two (2) buildings
3-story
36 units (4 Bed/2 Bath)
144 beds
Built 1999
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Zoned R2
Zoning will allow an additional
90 units (360 beds)
50 paved parking spaces
70 additional parking spaces in
gravel lot
Flat topography
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Property Information
University Villas, located in
Fort Valley, Georgia, is a 36unit, 144 bed student
housing facility contiguous to
Fort Valley State University.
FUTURE
EXPANSION
The property offers
convenient off-campus living
within easy walking distance
to all classrooms,
administration buildings and
other facilities at FVSU.
Each 4-bedroom unit
consists of 983 square feet,
and includes two bathrooms,
a full kitchen and living area.
ADDITIONAL
PARKING
Rent includes electricity,
water and cable. Laundry
facilities are located in the
rental office area.
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Property Information
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Property Information
FLOOR
PLAN
BUILDING
PLAN
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Location Information
Subject Property
FVSU
Approximate
Boundary
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Area Information
State:
Georgia
County:
Peach
County Seat:
Fort Valley
Established:
1856
Total Area:
5.3 square miles
Corporate Home of:
Blue Bird Corporation
Massee Lane Gardens
American Camellia Society
Peach Regional Medical Center
Education Facilities:
Three (3) elementary schools
Two (2) middle schools
One (1) high school
One (1) college/university
Transportation:
US 341
SR 7
SR 42
SR 49
SR 96
I-75 within
8 miles
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
University History
Founded in 1895 as Fort Valley High and Industrial
School under an 1890 land-grant program, Fort Valley
State University is situated on 1,365 acres of cleared,
wooded and developed land with the main campus being
comprised of 80 acres. A blend of architectural styles
can be seen throughout the buildings on the main
campus.
Fort Valley State University is one of only three
predominately African-American public colleges and
universities in Georgia. Throughout its storied history,
FVSU has been supported by notable philanthropists and
entrepreneurs including John W. Davison, Henry A. Hunt,
the Episcopal Diocese of the State of Ohio, Anna Jeanes,
Collis P. Huntington, American Church Institute for
Negroes for the Protestant Episcopal Church, Royal C.
Peabody and the Carnegie Foundation.
Educational opportunities expanded from high school,
post-high school, baccalaureate, and teacher’s training
programs to the current day undergraduate and graduate
degree programs in Education, Agriculture, Family
Sciences, Technology and Veterinary Sciences to name a
few. FVSU hosts more than 80 academic, professional
and civic organizations, and is a Division II member of
the National Collegiate Athletic Association and the
Southern Intercollegiate Athletic Association.
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
Demographics (Fort Valley)
Enrollment
2012
University Villa Apartments
Enrollment & Demographics
3,200 Students
Academic Programs
Undergraduate Programs:
• College of Agriculture, Family Sciences and
Technology
• College of Arts and Science
• College of Education
Graduate Programs
2012 Population
2017 Estimated Population
9,883
10,097
2012 Households
2017 Estimated Households
3,095
3,192
2012 Owner Occupied Housing Units
1,540
2017 Estimated Owner Occupied Housing Units 1.636
2012 Renter Occupied Housing Units
1,555
2017 Estimated Renter Occupied Housing Units 1,556
2012 Median HH Income
2017 Estimated HH Income
$27,320
$31,238
2012 Average HH Income
2017 Estimated HH Income
$38,625
$42,379
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
SUBJECT
Campus Living
Comp # 1
University Villa Apartments
Competition
Comp # 2
Comp # 3
Comp # 4
UNIVERSITY VILLA
Wildcat Commons
Prides Landing II
Sun Valley
Walker Buildings
Rose Lane Apts
• 4 Bed/2 Bath
• 4 Bed/2 Bath
$2,663/semester
• 2 Bed/2 Bath
$3,039/Semester
• 4 Bed/2 Bath LAK*
$2,351/semester
• 4 Bed/2 Bath Semi*
$2,195/semester
• 3 Bed/1 Bath Semi*
$2,037/semester
3 Bed/2 Bath
4 Bed/2 Bath
4 Bed/2 Bath
3 Bed/2 Bath
$1,900/semester
(5 months)
$1,850/semester
(5 months)
$1,790/semester
(5 months)
$1,900/semester
(5 months)
$380/month
$370/month
$358/month
$380/month
Tenant pays
utilities
Tenant pays
utilities
Landlord pays
electricity and
water
Tenant pays
utilities
Traditional Dorms
Approximately .6
Mile from FVSU
Directly Adjacent
to FVSU
Directly Adjacent
to FVSU
Approximately .4
Mile from FVSU
• $1,625/semester
(5 months)
• $325/month
• Directly Adjacent
to FVSU
(20+ years old in inferior
condition)
• Single Occupancy
$2,195/semester
• Double Occupancy
$2,351/semester
• $407-608/month
* LAK - w/ Living Area & Kitchenette *Semi – Suite w/ kitchenette
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Competition Map
$1,900/semester
$380/month
1
$1,900/semester
$380/month
4
$1,625/semester
$325/month
Subject
Property
$1,790/semester
$358/month
3
$1,850/semester
$370/month
2
FVSU
Approximate
Boundary
$2,037-$3,039/semester
$407-$608/month
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Financials , Rent Roll & Pricing
PRO FORMA @ 95% OCCUPANCY
2012 INCOME/EXPENSE STATEMENT
Gross Rental Income
(Summer Semester)
Other Income
$468,000
108,000
47,137
Less : Vacancy
(172,733)
Net Income
$450,404
NET OPERATING INCOME
Gross Potential Rent
(Summer Semester)
Plus: Other Income
**
262,723
$187,681
$468,000
4
Units @ $299
108,000
109
Units @ $325
67,952
31
Units Vacant
Less: Vacancy & Credit Loss
(Fall/Spring Semester
(23,400)
Less: Vacancy & Credit Loss
(Summer Semester) *
(75,600)
Net Income
EXPENSES
Total Expenses
RENT ROLL
Gross Potential Rent
(Fall/Spring Semester)
INCOME
Gross Rental Income
(Fall/Spring Semester)
INCOME
***
NET OPERATING INCOME
Total Units
PRICING SUMMARY
Asking Price
$2,600,000
Unit Price (36)
$72,222
252,000
Bed Price (144)
$18,056
$292,952
Occupancy Rate
78.5%
$544,952
EXPENSES
$1,750/bed
144
NOTES
$292,952 / $2,600,000
= 11.3% Cap Rate
* Summer Income is based on 2012 Summer Income. The
actual Summer Income should be higher once occupancy
increases to 95%.
** Number derived by taking 2012 Other Income and dividing
by 65.9% (2012 Occupancy) and multiplying by 95%.
*** “Industry standard” for expense per bed.
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.
820 State University Drive
Fort Valley, GA 31030
Peach County, Georgia
University Villa Apartments
Confidentiality Statement
CONFIDENTIALITY STATEMENT
This information is furnished solely for the purpose of review by a prospective purchaser and is not to be used for any other
purpose or made available to any other person without the prior written consent of The Summit Group. The contents of
this material is of a confidential nature and will be held and treated in the strictest confidence. No portion of this material
may be copied or otherwise reproduced or disclosed without the prior written authorization of The Summit Group.
Additional financial information will only be disclosed upon the full execution of a formal Confidentiality Agreement. Please
contact agent for more information.
For additional information contact: EDWARD A. WALSH, CCIM | Cell (478) 954-1977 | ewalsh@thesummitgroupmacon.com
4124 Arkwright Road, Suite 1, Macon, GA 31210 | (478) 750-7507 | Fax (478) 750-9002 | www.thesummitgroupmacon.com
The information contained herein has been compiled from various sources, both private and public. It is accurate and complete only to the extent to which The Summit Group has been able to ascertain from third party sources. As such, no warranty or guarantee is
given or implied with regard to the accuracy or completeness of any information contained herein. Any interested party shall be required to conduct its own due diligence and investigations to verify, review, audit, or otherwise insure the information contained herein.