205 Arthur Dr
Thomasville, NC 27360

Southgate Garden Apartments and Piedmont Trace Apartments are two adjacent apartment communities located in Thomasville, North Carolina that together are made up of 114 apartment units and rest on three parcels totaling +/- 12.32 acres. These properties were developed in phases, the earliest phase in 1989 and the most recent phase in 2007. The unit mix is comprised of 35 one bedroom units (30%), 67 two bedroom units (59%), and 12 three bedroom units (11%) with a variety of interior layout options. Additional on site improvements include a swimming pool, leasing office, and two storage buildings. Historically these assets have maintained high occupancy and strong performance. This is an excellent opportunity to acquire a well maintained, stabilized, cash flowing asset at a double digit initial cash on cash return in a growing sub-market with significant value add potential. The property's location provides excellent access to Interstate 85 which is located roughly one mile from the subject. Dozens of predominant retailers are located within minutes of the property as well, including Walmart Supercenter, Food Lion, Ingles, Walgreens, Autozone, Ruby Tuesday, McDonald' s, Wendy' s, Sheetz, and a brand new Lidl grocery store that is slated to open in Q2 or Q3 of 2017. Other destinations within minutes of the property include several bank branches, Anytime Fitness, Thomasville Pediatrics, and the division of motor vehicles. Thomasville has been noted as the second fastest growing city in the Piedmont Triad region, with a population that increased by 36.4% from 2000 to 2013.