Morton Companies Property Profile: 1000 N. Craven St. | New Bern, NC

PROPERTY PROFILE:

1000 NORTH CRAVEN STREET NEW BERN, NORTH CAROLINA QUALIFIED OPPORTUNITY ZONE

OFFERED BY: MORTON COMPANIES MANAGEMENT, LLC

THE OPPORTUNITY WATERFRONT PROPERTY: NEW BERN, NORTH CAROLINA QUALIFIED OPPORTUNITY ZONE OFFERING Introducing an undeveloped 24.5-acre parcel available for mixed-use development in downtown New Bern, along the coveted Neuse River waterfront.

The property sits in an ideal location that is poised for growth — in a Qualified Opportunity Zone with the potential for a future marina. With roads and infrastructure well established and thriving residential/commercial components already in place, the property is easily accessible and provides direct access to the waterfront, area businesses and attractions, and historic downtown New Bern.

This unique mixed-use offering is poised for rapid development from a number of possible end-user scenarios, both residential and commercial. It is particularly attractive for second-home buyers, and retirees coming to enjoy more affordable living, a mild coastal climate, and better overall quality of life.

The 24.5-acre parcel is currently offered at $13 million — a competitive price point that is projected to increase within just 2 to 3 years.

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

1000 NORTH CRAVEN STREET, NEW BERN, NC 28560: +/-24.5 ACRES

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

[ DRONE VIDEO GOES HERE ]

MORTON COMPANIES MANAGEMENT, LLC A. FREDRICK MORTON, JR., BROKER 252.635.0410 | FRED@MORTONCOMPANIES.COM | WWW.MORTONCOMPANIES.COM 1000 NORTH CRAVEN STREET | NEW BERN, NC | 28560

VIRGINIA

RICHMOND

NEW BERN: A DESTINATION FOR EVERYONE WINSTON-SALEM

There’s a saying in New Bern: “everything comes together here.” Indeed, all aspects of a thriving coastal

RALEIGH

community are in play here—from leisure activity

NORTH CAROLINA

and recreation, to art and culture, to multifaceted industries and a healthy economy. New Bern is the place to be. With its undeniable small-town allure and big city cultural offerings, this has become a dynamic

CHARLOTTE

NEW BERN

waterfront town that has a broad demographic and a number of opportunities for businesses

BEAUFORT

and homeowners alike. With rail, air, and water transportation options, the area is home to a number of large organizations, including BSH Home Appliances, Moen, Hatteras Yachts, and the Marine Corps Air

WILMINGTON

Station Cherry Point (MCAS) base, which contributes over 2 billion dollars to the local economy. In addition, New Bern enjoys a strong network of private and public schools, comprehensive health care facilities, and at-

SOUTH CAROLINA

ready access to a skilled workforce.

CHARLESTON Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

WAKE

EDGECOMBE

NASH

95 § ¨ ¦

£ ¤ 264

WASHINGTON

WILSON

MARTIN

INTERCHANGE IMPROVEMENTS

Clayton

LET DATE: 2021

US 70 IMPROVEMENTS

BEAUFORT

will be completed in the next 3-5 years with full completion slated for 2029.

NEAR PINE LEVEL TIP #: W-5107 COMPLETE

95 § ¨ ¦ Pine Level

Selma

Road construction projects include the Kinston

£ ¤

Greenville

264

KINSTON BYPASS TIP #: R-2553 B WAY - 2029 Bypass, Bypass,RIGHT the OF Havelock CONSTRUCTION POST YEARS

HYDE

264 ¤ and £ James City

70 £ ¤ GREENE upgrades.

ThePrinceton effect of these improvements will translate into better flow of traffic and higher JOHNSTON 13 £ ¤

US 70 IMPROVEMENTS at JAMES CITY TIP #: U-5713 AWARDED SEPT. 2019 UNDER CONSTRUCTION

BEAUFORT

to significantly reduce travel time from Raleigh to US 70 IMPROVEMENTSspeeds (from 60-70 mph), which is anticipated 258

£ ¤

US 70 BYPASS TO SR 1229 TIP #: R-5829A RIGHT OF WAY - 2024 CONSTRUCTION - 2026

Beaufort.

US 70 IMPROVEMENTS SR 1229 TO PONDFIELD RD TIP #: R-5829B RIGHT OF WAY - 2025 CONSTRUCTION - 2028

95 § ¨ ¦

SAMPSON

70 £ ¤

US 70 IMPROVEMENTS at JIM SUTTON ROAD TIP #: R-5813 RIGHT OF WAY - 2026 CONSTRUCTION - 2028

§ ¨ ¦ 40

701

D

CRAVEN Dover

£ ¤ 258

KINSTON BYPASS TIP #: R-2553 C UP R/W - 2026 CONSTRUCTION POST YEARS

Current Project

421

Existing Freeway BLADEN

40 § ¨ ¦

US 70 BUS Interstate NC

Railroads National Forests Member Counties

50 «

PENDER 53 «

US

0

10 Miles

PAMLICO 70 £ ¤

JONES

«

£ ¤

NEW BERN

41 « 17 £ ¤

903

Future Retrofit

58 «

US 70 IMPROVEMENTS US 70 at TABERNA WAY AND THURMAN RD TIP #: R-5777A/B R/W- IN PROGRESS UNDER CONSTRUCTION US 70 IMPROVEMENTS THURMAN RD TO HAVELOCK BYPASS TIP #: R-5777C RIGHT OF WAY - 2023 CONSTRUCTION - 2023

US 70 IMPROVEMENTS RADIO ISLAND ROAD: Inc. NEWPORT RIVER BRIDGE TIP #: U-5876 RIGHT OF WAY - 2025 CONSTRUCTION - 2027

17 £ ¤

Cove City

70 £ ¤

LENOIR

41 «

Legend

CRAVEN

117 £ ¤

WAYNE

£ ¤£ ¤ 421

LaGrange

Walnut Creek

SLOCUM GATE IMPROVEMENTS TIP #: R-5516 COMPLETE

CRAVEN CARTERET

17 £ ¤

70 £ ¤

CARTERET ONSLOW

HAVELOCK BYPASS TIP #: R-1015 RIGHT OF WAY - IN PROGRESS UNDER CONSTRUCTION

WAKE, JOHNSTON, WAYNE, LENIOR, JONES, CRAVEN, CARTERET COUNTIES

40 £ 70 § ¨ ¤ ¦

TIP #: U-6102 RIGHT OF WAY - 2027

Wilson

US 70 CORRIDOR NC DOT PROJECT LOCATIONS

US 70 IMPROVEMENTS at WILSON'S MILLS

and new corridors being developed along U.S. 70. Several key portions of the construction process CONSTRUCTION - POST YEARS TIP #: W-5600

NORTH CAROLINA DEPARTMENT OF TRANSPORTATION DIVISION OF HIGHWAYS PROJECT DEVELOPMENT AND PROJECT MANAGEMENT UNIT

17 £ US 70 AT GLENBURNIE RD ¤ The Crystal Coast continues to become more accessible road enhancements PITTthanks to ongoing

´

Date:

US 70 IMPROVEMENTS OLGA RD. TO WHITEHURST RD. TIP #: R-4746 RIGHT OF WAY - 2029 CONSTRUCTION - POST YEARS

October 2020

Figure

1

By: J.TORTORELLA

Date:

October 2020

Figure

1

´

US 70 CORRIDOR NC DOT PROJECT LOCATIONS WAKE, JOHNSTON, WAYNE, LENIOR, JONES, CRAVEN, CARTERET COUNTIES

NORTH CAROLINA DEPARTMENT OF TRANSPORTATION DIVISION OF HIGHWAYS PROJECT DEVELOPMENT AND PROJECT MANAGEMENT UNIT

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

CRAVEN COUNTY: STATISTICS & DEMOGRAPHICS AREA

AGE

AREA / TOTAL

774 square miles

2019 ESTIMATED MEDIAN AGE

39

AREA / LAND

774 square miles

2019 ESTIMATED TOTAL POPULATION: 0-19

25,041

AREA / WATER

65 square miles

2019 ESTIMATED TOTAL POPULATION: 20-24

9,997

2019 ESTIMATED TOTAL POPULATION: 25-34

13,552

INCOME 2019 ESTIMATED MEDIAN FAMILY INCOME

$61,215

2019 ESTIMATED TOTAL POPULATION: 35-44

11,403

2019 MEDIAN HOUSEHOLD INCOME (SAIPE)

$53,372

2019 ESTIMATED TOTAL POPULATION: 45-54

10,614

2019 ESTIMATED MEDIAN WORKER EARNINGS

$28,791

2019 ESTIMATED TOTAL POPULATION: 55-64

12,707

2019 PER CAPITA INCOME (BEA)

$46,446

2019 ESTIMATED TOTAL POPULATION: 65+

19,177

CENSUS

POPULATION

2010 CENSUS TOTAL POPULATION: URBAN

74,825

2010 CENSUS TOTAL POPULATION: RURAL

28,680

NOTEWORTHY FACT:

THE CRAVEN 100 ALLIANCE

JULY 2019 NC CERTIFIED POPULATION ESTIMATE

102,989

The Craven 100 Alliance (C1A) is a 501c3 public private partnership created to advance the economic interests of Craven County. With investments from the private sector, Craven County, the City of New Bern and the City of Havelock, the C1A has a track record of moving the economy forward in Craven County by investing in infrastructure, real estate and companies directly. In 2019, the Craven 100 Alliance investments yielded $8.5 million in investment creating 140 jobs over six projects. The C1A is actively looking for strategic joint venture partners who have similar interests in growing the economy of Craven County.

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

NEW BERN: FACTS & POINTS OF INTEREST • New Bern was recognized by Southern Living® as one of the “Top 10 Small Towns in the South” for 2021 © Gary Hollar Photography

• Certified Retirement Community • Restored Historic District • Tryon Palace, the residence of North Carolina’s Colonial Governor • Widely recognized tourist destination (visitors in Craven County spent $155.61 million in 2019) • Site of nearby Marine Corps Air Station Cherry Point • Conversion of Hwy 70 into Interstate 42 will reduce driving times from Craven County to the Triangle area • Close proximity to the beaches • Popular sailing and boating area • Destination for boaters traveling North / South on Intracoastal Waterway • 112 miles east of Raleigh; 80 miles north of Wilmington; 162 miles south of Norfolk, VA • CarolinaEast Medical Center is a 350-bed inpatient hospital: family of services include a cancer center, diagnostic center, surgery center, home care, and rehabilitation hospital • Strong base of primary care providers and specialty practice • Coastal Carolina Regional Airport (4 miles) • Service from American Airlines-Raleigh-Durham International (130 miles) • Music festivals and events annually, throughout the year • Downtown restaurant & shopping district (unique gifts, apparel, antiques, arts, crafts & galleries) • Golf Courses: Carolina Colours Golf Club, The Emerald Golf Club, Taberna Country Club, New Bern Golf & Country Club, Harbour Point Golf Club, River Bend Golf & Country Club

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

© Bryan A. Barber — ENC Drones

© Gary Hollar Photography

NEW BERN:

1

POINTS OF INTEREST 1

SUBJECT

2 3 4 5 6

NEW BERN

7

HISTORIC DISTRICT

8 9 10 11

9

2

8

5

1000 North Craven Street Historic Trolley Tours Tryon Palace North Carolina History Center Historic Homes Tours Bear Town Market Birthplace of Pepsi Cola New Bern Civic Theatre Bank of the Arts New Bern Riverfront Convention Center Union Point Park

Craven Community College (~4 miles)

7

Croatan National Forest (~7 miles

3 4

6 11 10

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

­ U.S. Marine Corps Air Station — Cherry Point (~18 miles) Morehead City, NC (~36 miles) Atlantic Beach, NC (~37 miles) Beaufort, NC (~42 miles)

INVESTMENT PROPERTY SPECIFICS KEY FACTS • Coastal development opportunity located within a Qualified Opportunity Zone with tax benefits • Located at 1000 North Craven Street, New Bern, NC 28560 • +/- 24.5 acres located downtown directly on the waterfront • Offering price = $13 million • 1,834 linear feet on the Neuse River • Notice of Brownfield Property recorded in the Craven County Registry at Book 3282, Page 21

PUBLIC WATER & SEWER Access to public water and public sewer provided by the City of New Bern.

ZONING I-2 / Industrial District with a River station Mixed Use Overlay designation, which provides for numerous redevelopment options that include commercial, residential and mixed uses.

TAX PIN • Craven Co. Tax PIN: 8-004-042

OFFERED BY Morton Companies Management, LLC A. Fredrick Morton, Jr., Broker 252.635.0410 fred@mortoncompanies.com Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

THE MORTON COMPANIES DIFFERENCE We carefully consider the ramifications of development and seek to support emerging real estate projects that are befitting of their individual settings—particularly in coastal settings and natural landscapes. It is our hope that our future developments blend seamlessly with the essence of each locale to promote the following: • A SENSE OF COMMUNITY • BETTER QUALITY OF LIFE • ENHANCED FAMILY LIFESTYLE • SUSTAINABLE LONG-TERM INVESTMENT

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.

MORTON COMPANIES MANAGEMENT, LLC A. FREDRICK MORTON, JR., BROKER 252.635.0410 | FRED@MORTONCOMPANIES.COM WWW.MORTONCOMPANIES.COM

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.