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33517008
33517002

2311 Timber Drive, Garner, NC 27529

AD
NC NC 317771
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$3,648,000
1 day on market
Updated 1 day ago

Sully's Golf & Gather

Details
Property Type Special Purpose
Sub Type Sports/Entertainment
Square Footage 10,600
Units 80
Cap Rate 6.35%
NOI $231,658
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 10
Lease Expiration 01/31/2034
Remaining Term 7.5
Rent Bumps Yes
Lease Options Two, 5-Year
Price per SqFt $344
Broker Co-Op True
Year Built 1996
Buildings 1
Acreage 1.800
Zoning Commercial
Parking Spaces 80 spaces
Parking Per SqFt 7.55
Investment Type Net Lease
Tenant Credit No Credit Rating
Lease Commencement 01/01/2024
Ground Lease No

Prime Signalized Corner Intersection | Affluent Surrounding Area | Exceptional Population Growth

Investment highlights

• Prime signalized corner location | Timber Dr & Woodland Rd | 23,800 VPD combined

• North Carolina’s largest indoor golf entertainment venue | 13 simulator bays, private teaching suite, indoor putting & chipping green, fullservice bar & kitchen, and outdoor patio

• Affluent surrounding area | $114,109 average household income within a 3-mile radius

• Operator commitment | Personal guarantees from ownership demonstrating confidence in the location and business

• Established and growing concept | Strong local following with multiple revenue streams including simulator rentals, food & beverage sales, lessons, leagues, tournaments, and corporate events

• Recent capital improvements | Roof replaced in 2023 with 20-year transferable roof warranty

• Positioned within a dominant retail corridor | 2.4M SF of retail space within 2 miles surrounded by major national retailers

• Exceptional population growth | Projected 12.59% growth within a 5-mile radius over the next five years

• Strategic Raleigh MSA location | Approx. 10 minutes from downtown Raleigh and 15 minutes from North Carolina State University | 40,500 students

• Dense residential base | More than 113,000 residents within a 5-mile radius

• Strong daytime population drivers | Surrounded by approximately 2.4M

SF of industrial and employment-generating space within 2 miles

• Large parcel | 1.80 acres

• 20 minutes from WakeMed Raleigh Campus | 665 beds

• Within 10 minutes from Garner Magnet High School & South Garner High School | 3,500 students combined

• 25 minutes from Raleigh-Durham International Airport | 600 flights per day

• Nearby Destination Retailers: Walmart Supercenter, Target, Sam’s Club, Food Lion, Lowes Foods, ALDI, Home Depot, Lowe’s, Harbor Freight, Belk, Outback Steakhouse, Chick-fil-A, Starbucks, Bojangles, McDonald’s, Wendy’s, Taco Bell, Cook Out, Arby’s, Biscuitville, Jersey Mike’s, Sheetz, and more

Listing Contacts

AD
NC NC 317771
Berkeley Capital Advisors Charlotte
RF
NC 280948
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$231,658.00
$19,304.83/mo

Valuation Metrics

0
DSCR
6.35%
Cap Rate
6.35%
ROI

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Additional Information

Name
Al Dickens
License
NC 317771
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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