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GILBERTSTREET

DOWNTOWN AT

WWW . C A RO L I N AMOON R E A L T Y . C OM

C A RO L I N A MOON R E A L T Y


QUALIFIEDOPPORTUNITY ZONE

PROPERTYDETAILSDOWNTOWN AT GILBERT STREET

910 | 912 | 914 | 918 | 920 Gilbert St.

Durham, NC 27701

Carolina Moon & Keller Williams PreferredRealty, as the exclusive advisor to the seller,are pleased to present the opportunity toacquire Downtown at Gilbert Street, aproperty comprised of three individual lotstotaling one-half acre of downtown realestate that is also a Qualified OpportunityZone and eligible for the New Markets TaxCredit.

The properties included in this offering arethree 3BR/2BA single family homes, andtwo duplexes, for a total of four 1BR/1BAmultifamily units.

The properties have recently beenrenovated and boast 10 foot ceilings, eat inkitchens and hardwood floors throughout.

Downtown at Gilbert Street represents astrong long-term investment opportunity.

Take advantage of the QualifiedOpportunity Zone (“QOZ”) program. Theprogram was created as part of the 2017 TaxCuts and Jobs Act to spur long-terminvestment and economic development.

A Qualified Opportunity Zone fund is a typeof investment vehicle that is required toinvest 90% or more of its assets in one ormore of the designated opportunity zones.To incentivize investors to participate inQOZs, the program allows for the deferraland elimination of certain capital gainstaxes. Essentially, any tax on capital gainscan be deferred by reinvesting the gainsinto a Qualified Opportunity Zone fund, andthe capital gain achieved from the QOZinvestment itself is not subject to any taxesat all.

The Qualified Opportunity Zone programalso eliminates taxes on capital gainsearned from the actual QOZ investment, ifheld for 10 or more years, which cansignificantly reduce the investor’s total taxliability.

NEW MARKETS TAXCREDIT ELIGIBLE

NMTC investors provide capital to community development entities (CDEs), and in exchangeare awarded credits against their federal tax obligations. Investors can claim their allotted taxcredits in as little as seven years—5 percent of the investment for each of the first three yearsand 6 percent of the project for the remaining four years—for a total of 39 percent of the NMTCproject. A CDE can be its own investor or find an outside investor.

The NMTC program is flexible regarding project type and purpose. QALICBs can be used tofinance equipment, operations, or real estate. Real estate financing can purchase or rehabilitateretail, manufacturing, agriculture, community facilities, rental or for-sale housing, orcombinations of these. The Urban Institute categorized NMTC project types.


1.1M

OF F ER I NG PR I C E

7

NUMBER OF

UN I T S

$2

PR I C E PER SQ F T

.5

LO T S I Z E

$2

PR I C E PER SQ F T

1950

YEAR BU I L T

ACCESABILITY

The property's central location andimmediate access to I-85 enable residents toquickly access many major employmentcenters within 30 miles. This convenienceexpands the potential renter pool andpromotes above average rent growth inaddition to driving high occupancy rates.

bike score transit score walk score

62 46 65

3

2

3BR/2BASINGLE FAMILY

UNITS

1BR/1BADUPLEXUNITS

OFFERING HIGHLIGHTS

Strong Rental Market: the Durham rentalmarket has experienced consistent rentincreases. Rent in-creased 3.4% in the pastyear.

Superb Demographics: median householdincome for Durham is $56,393 and 48.8% ofthe population are college educated.

Strategic Location: Duke University and itsaffiliated medical system are among theprimary demand drivers for the area.Combined 52,000 students, university staff,and medical system employees

Proximity to Downtown: 5 minute drivefrom downtown Durham’s top attractionsIn- cluding Durham’s Central Campus,American To-bacco Campus, BrightleafSquare, Durham Bulls Athletic Park, TheCarolina Theatre, and Durham PerformingArts Center.

INVESTMENT

HIGHLIGHTS

C A RO L I N A MOON R E A L T Y P A G E 1

316.739

TO TA L

POPU LA T I ON

120.936

TO TA L

HOUSEHO LDS

$56,393

MED I AN

HOUSEHO LD

I NCOME

138,954

HOUS I NG UN I T S

53.5%

OWNER

OCCUP I ED

HOUS I NG UN I T S

$232,600

MED I AN HOME

PR I C E

$1,293

MONTH LY

HOUS I NG

PAYMENT

$1,157

AVERAGE

ASK I NG RENT

138,954

AF FORDAB I L I T Y

GAP

6,58%

VACANCY Q4

MARKETOVERVIEW

The properties are located lessthan one mile from downtownDurham and Duke University.

Downtown at Gilbert Street canbe accessed by I-85, I-40, NC147and US 70 West, the mainthoroughfares connectingDurham to the Triangle Region.Duke University, withapproximately 16,000 enrolledstudents, is located 0.7 milesfrom the subject property.

The Durham economy ismajorly supported by DukeUniversity and Health Systemswith nearly 35,000 employees.

Other employers in Durhaminclude IBM, Durham PublicSchools, GlaxoSmithKline, BlueCross Blue Shield of NC,Durham City Government,Fidelity Investments, ResearchTriangle Institute, VeteranAffairs Medical Center and USEnvironmental ProtectionAgency.

Durham is home to a young,friendly, diverse, and educatedpopulation from the recentdowntown urbanredevelopment that led to aninflux of new businesses andresidents. Residents enjoydining out in nationallyrecognized restaurants orgrabbing a drink in one theregion’s many microbreweries.Durham is also known for itsbeautiful green spaces, family-friendly museums, and agrowing art scene enhanced bymusicfestivals and gallery walks.


LOCAL

MAP

REGIO

NAL

MAP

LOCATION

Duke University Hospital & Medical Center Duke Children’s Hospital & McGovern-Davison Health CenterDuke Regional HospitalDurham Veterans Administration (VA)Medical CenterLenox Baker Children’s HospitalNorth Carolina Specialty Hospital

Durham has evolved into a global center for information technology, biotechnology,

pharmaceuticals and medicine. Healthcare is a major industry including more than 300 medical and

health related companies and medical practices with a combined payroll exceeding $1.5 billion

annually. Nearly 1 in 3 people in Durham have a health related career. Employers include:

DURHAM "CITY OF MEDICINE"

Carolina TheaterCarolina BalletDurham Performing Arts CenterAmerican TobaccoAMF Durham LanesDuke University ChapelGolden Belt Durham Central ParkMuseum of Life & ScienceSarah P. Duke GardensBrightleaf SquareBull City CraftDefyGravityDurham Arts Council Clay StudioDurham Skate Park

MARKETOVERVIEW

C A RO L I N A MOON R E A L T Y 1

CITY OF DURHAM

ATTRACTIONS

EVENTS AND LEASURE

PARKS AND RECREATION

SPORTS

Eno River State ParkWest Point on the EnoAmerican Village ParkLittle River Regional Park

Farmers’ Market & Natural Area

Durham BullsCarolina MudcatsCarolina HurricanesDuke Blue Devils FootballDuke Blue Devils Basketball

Includes Duke University in Durham,University of North Carolina in Chapel Hilland North Carolina State University inRaleigh.Largest science park in the country andone of the largest in the world.Houses approximately 200 globalcompanies7,000 Acres with 22.5 million sf of builtspace.50,000+ high tech employees.80% of employees work for multinationalcompanies.Combined annual payroll of $2.9 billion.Park Center, a 12 acre mixed usedevelopment, in Research Triangle Parkwill compliment the suburban office spacewith completion expected in 2020.

Ranked 8th in U.S. News Best Colleges2019 Edition of Best Colleges NationalUniversitiesOne of the most Prestigious PrivateUniversities in the World.15,892 Current Students.8:1 Student Faculty Ratio.50% of Undergraduates Participate inFaculty Research.52% of Student Population is Female.70% of Classes have Fewer than 19Students.97% Freshman Retention Rate.200+ Domestic and InternationalLearning Opportunities.11% of Applicants Admitted.Duke Basketball is 4th in All TimeWins of any NCAA BasketballProgram.

AREAS OFINTEREST


RESEARCH TRIANGLE PARK DUKE UNIVERSITY

AMERICAN TOBACCO CAMPUS

For decades, the American Tobacco Campus and the City of Durham

were one of the busiest industrial centers in the country, shipping

products around the world. The end of the tobacco industry in

Durham put the Bull City in a position to re-invent itself. Working

together, local government and private sector leaders re-made the

former American Tobacco factory, developed the Durham Bulls

Athletic Park and opened the stunning Durham Performing Arts

Center (all located on the campus), rejuvenating this unique city and

setting a new live-work-play standard.

910GILBERTSTREET A/B

10 ft. ceilings

hardwood floors throughout

bath/shower

eat in kitchen

910 A/B Gilbert Street is one of two

duplexes included in this offer. Each

duplex features:


557

TO TA L SQ F T

1940

YEAR BU I L T

1

TO TA L BATHS

1

TO TA L

BEDROOMS

DUPLEX

PROPER TY T Y PE

$750

MONTH LY RENT

912GILBERTSTREET

10 ft. ceilings


bath/shower

eat in kitchen

912 Gilbert Street is one of three single

family properties included in this offer.

Each property features:


1115

TO TA L SQ F T

1940

YEAR BU I L T

2

TO TA L BATHS

3

TO TA L

BEDROOMS

SINGLEFAMILY

PROPER TY T Y PE

$500

MONTH LY RENT

914GILBERTSTREET A/B

10 ft. ceilings


bath/shower

eat in kitchen

914 Gilbert Street is one of two duplexes

included in this offer. Each duplex features:


557

TO TA L SQ F T

1940

YEAR BU I L T

1

TO TA L BATHS

1

TO TA L

BEDROOMS

DUPLEX

PROPER TY T Y PE

$750

MONTH LY RENT

918GILBERTSTREET

10 ft. ceilings


bath/shower

eat in kitchen





1114

TO TA L SQ F T

1940

YEAR BU I L T

2

TO TA L BATHS

3

TO TA L

BEDROOMS

SINGLEFAMILY

PROPER TY T Y PE

$1200

MONTH LY RENT

920GILBERTSTREET

10 ft. ceilings


bath/shower

eat in kitchen





1114

TO TA L SQ F T

1940

YEAR BU I L T

2

TO TA L BATHS

3

TO TA L

BEDROOMS

SINGLEFAMILY

PROPER TY T Y PE

$1200

MONTH LY RENT

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