Jernigans Mobile Home Community 103 Spring Street, Grovetown, GA 30813

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1 EXECUTIVE SUMMARY OFFERING SUMMARY Sale Price: $600,000 Number Of Units: 21 Cap Rate: 9.4% NOI: $66,895 Lot Size: 2.7 Acres Building Size: 23,000 PROPERTY OVERVIEW 21 Space park. All units are park owned rentals. Most of the units have been remodeled. Park is in a great location with super high demand. This park is stabilized and does great. Easy to manage. Park includes a second park very close by which has 15 spaces and 10 units. Site makes more sense as a redevelopment site. That park is a mess and is currently shut down. Units could be fixed up and repaired and rented out. Make an offer on one or both together. Proforma CAP rate is 9.44 and on actual is over 8.37% today. Rents are currently low and can be raised. Current ownership doesn't charge late fees also which would be additional revenue source. This site has great future redevelopment potential as well. Jernigans has dirt roads, county water and county sewer. The other parcel included in the sale is county water/sewer and paved roads. LOCATION OVERVIEW Fast growing Grovetown GA. This is one of fastest growing areas in the state. Fort Gordon is in close proximity and there have been several parks torn down for redevelopment which has created significant demand for affordable housing in the area. Great demographics. Columbia County near Augusta GA. Zoning: Multifamily Price / SF: $5.10

2 ADDITIONAL PHOTOS

3 INCOME & EXPENSES INCOME SUMMARY PROFORMA PER SF Gross Potential Rent $102,600 $0.87 Late Fees $925 $0.01 Water Reimbursement $8,820 $0.07 Gross Income $112,345 $0.96 EXPENSE SUMMARY PROFORMA PER SF Insurance $3,250 $0.03 Property Taxes $1,700 $0.01 Mobile Home Taxes $1,900 $0.02 Onsite Manager $7,000 $0.06 Management Fee $9,000 $0.08 Grounds $2,400 $0.02 Repairs & Maintenance $5,000 $0.04 Electric $700 $0.01 Water $14,000 $0.12 Legal Fees $500 $0.00 Gross Expenses $45,450 $0.39 Net Operating Income $66,895 $0.57

4 LOCATION MAPS

5 DEMOGRAPHICS MAP POPULATION 1 MILE 5 MILES 10 MILES 2,539 40, ,403 Median age Median age (Male) Median age (Female) MILE 5 MILES 10 MILES ,397 65,548 # of persons per HH Average HH income $50,581 $61,064 $66,009 Average house value $134,401 $144,550 $169,545 Total population HOUSEHOLDS & INCOME Total households * Demographic data derived from 2010 US Census

6 ADVISOR BIO & CONTACT 1 President & Broker PROFESSIONAL BACKGROUND Joe is a native of Augusta, GA, and currently lives in Columbia County with his wife and five children. He began his career in real estate in 2005 after serving four years in the United States Marine Corps. In 2006 Edge started his own commercial real estate firm and later that year bought out the 90-year-old firm, Sherman & Hemstreet. Currently Sherman & Hemstreet now has more commercial real estate listings and brokers than any other firm in the CSRA. In addition to sales and leasing S&H has grown into one of the largest property management firms in the southeast managing over 4,000 units and over 10,000,000 square feet of space. More recently Sherman & Hemstreet completed the acquisition of McBride Realty and Turner Realty, both local firms. Currently Joe holds the CCIM and SIOR designations. To learn more about these designations go to or MEMBERSHIPS & AFFILIATIONS 624 Ellis St. Augusta, GA T C Certified Commercial Investment Member (CCIM) Society of Industrial and Office Realtors (SIOR)

7 Summary Rent Roll Property: Jernigan Mobile Home Park Current tenants in the period 07/01/18-07/31/18 Security Deposit based on date: 7/1/2018 Tenant Name Unit Sq Ft Deposit Held 100% Rented Vacancy Loss Loss to Lease Rent Charges Misc Charges Credits Prior Balance Total Charged Total Paid Credit Balances Debit Balances Jernigan Mobile Home Park Magos, Damian(Gust Contreras, Gabriela Luis, Alfredo Salvado Rodriguez, Arturo VACANT Pasillas, Sandra Espana, Ever VACANT Guzman, Bernardo Riviera, Alex Maldonado, Ranulfo A VACANT Thompson, Curtis , Contres, Edy Riviera, Alex VACANT Velasquez, Roberto Vega, Filiberto Torres Covington, Troy VACANT Magos, Damian (LendHouse , , , , , , Totals for Jernigan Mobile Home Park Total Units: 21 Vacant Units: 5 Vacant Rent: 1, Credit Balances: 3 Overall Balance: 1, Totals for report Sq Ft 0 Deposit Held % Rented 8, Vacancy Loss 1, Loss to Lease Rent Charges 7, Misc Charges Credits 0.00 Prior Balance Total Charged Total Paid 8, , Credit Balances Debit Balances 1, Total Units: 21 Vacant Units: 5 Vacant Rent: 1, Credit Balances: 3 Overall Balance: 1, Summary Rent Roll 08/11/18 1:21 PM Page 1 of 1 rentmanager.com - property management systems rev

8 Rent Roll & Recurring Charges Property: Jernigan Mobile Home Park As of 08/11/18 Tenant ID Unit Unit Type RC Water Total Jernigan Mobile Home Park Magos, Damian(Gustav MHOME Contreras, Gabriela MHOME Luis, Alfredo Salvador MHOME Rodriguez, Arturo MHOME Pasillas, Sandra MHOME Espana, Ever MHOME Guzman, Bernardo MHOME Riviera, Alex MHOME Maldonado, Ranulfo Ac MHOME Thompson, Curtis MHOME Contres, Edy MHOME Riviera, Alex MHOME Velasquez, Roberto MHOME Vega, Filiberto Torres MHOME Covington, Troy MHOME Magos, Damian (Lendy House MHOME Property Total Property Counts Rent Roll & Recurring Charges (Summary) Totals for 16 Tenants Charge Type Description Customers % Charged % of Total $ Amount RC Rent Charge % 91.1% 7, Water Water % 8.9% Total receipts: 7, Rent Roll & Recurring Charges 08/11/18 1:22 PM Page 1 of 1 rentmanager.com - property management systems rev

9 INCOME Profit & Loss 12 Month Recap Property: Jernigan Mobile Home Park Monthly recap 01/01/17-12/31/17 (cash basis) JAN 17 FEB 17 MAR 17 APR 17 MAY 17 JUN 17 JUL 17 AUG 17 SEP 17 OCT 17 NOV 17 DEC Income 8, , , , , , , , , , , , , Downpayment Eviction Fee Reimbursed Water Reimbursement TOTAL INCOME 8, , , , , , , , , , , , , TOTAL EXPENSE 6320 Property Insurance , , Grounds Maintenance , Bldg Repairs/Maintenance-General , HVAC Repair & Maintenance Plumbing Repair / Supplies , Cleaning & Janitorial Salary - Office , Legal Fees Management Fees , Mobile Home Taxes , , Electric Charge Water / Sewer 1, , , , , , , , , , , , , TOTAL EXPENSE 3, , , , , , , , , , , , , NET INCOME 4, , , , , , , , , , , , PROPERTY TAXES TRUE NET INCOME 50,275.44

10 INCOME Profit & Loss 12 Month Recap Property: Jernigan Mobile Home Park Monthly recap 01/01/18-07/31/18 (cash basis) JAN 18 FEB 18 MAR 18 APR 18 MAY 18 JUN 18 JUL 18 TOTAL 4001 Income 5, , , , , , , , Late Fees Eviction Fee Reimbursed Water Reimbursement , TOTAL INCOME 6, , , , , , , , EXPENSE 6320 Property Insurance , Grounds Maintenance , License and Permits Bldg Repairs/Maintenance-General , Salary - Office , Legal Fees Management Fees , Mobile Home Taxes , , Property Taxes 1, , Electric Charge Electric- Unit Turnover, Vacant Other Electric Water / Sewer 1, , , , , , , TOTAL EXPENSE 4, , , , , , , , NET INCOME 1, , , , , , , , Months Income 7 Months Expense minus property taxes Taxes Monthly Taxes Annualized Income Annualized Expenses True Net Income 55, , , , , ,999.33

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