Northside Chevrolet Buick GMC‏

North Side Rental Properties, LLC

J. Steven Ferguson, CPA

Managing Member

800 North Side Drive, Suite 27

Summersville, WV  26651

(304) 872-4841 ext. 106

jsfcpa@frontier.com

Northside Chevrolet Buick GMC – Northside Development

807 North Side Drive

Summersville, WV  26651

The subject property is a 2.71 acre portion of the North Side Land Corporation tract that was transferred to North Side Construction Company on August 10, 1998.  The deed is recorded in the Nicholas County Clerk’s Office in Deed Book 387 at page 645.  Under reorganization, the property was transferred to North Side Rental Properties, LLC on September 13, 2004. The transfer is recorded in Deed Book 422 at Page 475.  The property is located ABOVE the 100 year flood elevation as shown on Federal Emergency Management Agency Flood Insurance Rate Map for Nicholas County, Community Panel 54067C0250C dated July 4, 2011.  The property is within the City of Summersville corporate limits and is zoned C-3 which allows commercial use of the property.

The subject property is a General Motors approved Chevrolet, Buick, and GMC dealership with the Chevrolet standardized design.  The building was constructed in 1998 and expanded and redesigned to General Motors standards for a Chevrolet dealership in 2013.  The current redesigned building contains approximately 19,010 square feet.  There are approximately 9,360 square feet of Sales and Office space and 9,650 square feet for the Service Department.  The following is a description of the building and site:

FOUNDATION:       

Concrete Slab

STRUCTURAL FRAMING:         

CMU (concrete masonry units), steel

EXTERIOR WALLS:    

Masonry stucco

WINDOWS & DOORS:   

The main entrance doors are storefront entry doors in aluminum framing.  The sales offices provide fixed glass windows/portioning, providing direct visibility of the showroom floor.

ROOF:        

Flat roof with rubber membrane

CEILINGS:

Finished office area and showroom includes ceilings featuring acoustical tile with recessed fluorescent light fixtures in the office areas, with exposed painted metal ceiling within the common areas.  Service area has an exposed ceiling.

HVAC:

Heating and cooling is provided by a central system in the office and showroom areas.  Service areas are heated and cooled by a separate system.

PARKING:         

The property is configured to provide additional parking spaces for customers.  Based on a review of the City of Summersville zoning requirements, and industry standards, the parking availability is adequate for the existing use.

INTERIOR FINISH:

Interior office finish features a combination of wall-to-wall carpeting and ceramic tile with drywall partitions.  The facility is equipped with centrally located restrooms facilities.  The entrance and hallways feature ceramic tile and carpeting.  The service garage provides a clear height of approximately 18 feet and contains 13 lift stations for service and repair.  Interior finishes for the service areas are exposed steel beam.

ANCILLARY SITE:  

Ancillary site improvements include landscaping with natural vegetation, asphalt-paved parking, exterior lighting, concrete curbing, walkways, and signage.  In addition to the described improvements, on-site and off-stie drainage is provided, with all public utilities available.

IMPROVEMENTS:   

Additionally, various specialty items (trade fixtures) are included such as electric lifts and service equipment.

UTILITY/SERVICES:        

The property is serviced by all utilities along North Side Drive as follows:

                                                                                Water/Sewage – City of Summersville

                                                                                Natural Gas – Dominion Gas

                                                                                 Electricity – Appalachian Power  (First Energy)

                                                                                Telephone – Frontier Communications