PRICE REDUCTION Medical Office Investment 15 YEAR NET DENTAL LEASE E Mitchell Hammock Road, Oviedo, FL 32765

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1 PRICE REDUCTION Medical Office Investment 15 YEAR NET DENTAL LEASE 1445 E Mitchell Hammock Road, Oviedo, FL 32765

2 Table of Contents I. The Opportunity II. Executive Summary III. Markey Overview IV. Property Summary V. Location Maps VI. Site Plan VII. Floor Plans VIII. Financial Summary IX. Lease Summaries X. Tax Assessment XI. Demographics 2

3 The Opportunity Statement Dental Practice Anchor Tenant: The dental tenant is very established and continues to grow in this booming residential market. Eastbridge Dental has been in this immediate area for decades and has posted remarkable profits the entire period. Representative of this is Eastbridge committing to a new original term of 15 years Net!!! Class A+ Physical Building: This building was constructed with the highest quality materials and amenities. Anyone evaluating the property will continue to find state of the art options were chosen. Vibrant Location: Oviedo is a well-established infill location. The area is experiencing tremendous population growth. There are 26,976 people living within two miles of this office and the average household incomes are $84,885, which is one of the highest income areas of greater Orlando. Furthermore, there is scarcity of land which can be developed. This further protects the investor and creates upward pressure on lease rates and property values. 4

4 Size: Lot: 1 acre Building: 4,836 Square Feet Zoning and Uses: CG General Commercial 2015 Population Estimate: 1 mile: 9,959 2 mile: 26,976 3 mile: 49,406 Executive Summary 2015 Average Household Income Levels: 1 mile: $81,318 2 mile: $84,885 3 mile: $87,796 Average Daily Traffic Counts 33,137 cars (Mitchell Hammock Road) 4

Location: Seminole County Oviedo Location 1445 E Mitchell Hammock Road, Oviedo, FL 33617 Economic Drivers to the area: University of Central Florida Major Employers: (defense contractors, engineering

5 Location: Seminole County Oviedo Location 1445 E Mitchell Hammock Road, Oviedo, FL Economic Drivers to the area: University of Central Florida Major Employers: (defense contractors, engineering firms, etc.) Allied Technology Group Aon Hewitt Associates G-5 Engineering Solutions Wyle Laboratories Calytrix Retailers within 1 mile: Publix CVS Winn Dixie Panera Bread (reported to be number one gross sales in Florida) Tire Kingdom JDC Consulting Service, LLC Firehouse Subs Fairwinds Credit Union LA Fitness PNC Bank Tijuana Flats 5

6 Market Overview The proximity to University of Central Florida and significant high wage employment heavily contributes to this region s success. The City of Oviedo is also close to the expressway system allowing commuters quick access to downtown Orlando and the remainder of the Metropolitan Statistical Area. Oviedo continues to enjoy the limelight as one of the premier places to live and work. The downtown of Oviedo is located directly west.6 miles. Different than many small towns its downtown is absolutely exploding with new developments and actually turns away many retailers desiring to locate there. Oviedo (Northeast Orlando) Business District is made up of many high wage sophisticated companies such as Avnet and Calytrix. In addition Seminole State College and the future Oviedo Hospital are within close proximity. 9

7 Property Summary Property Type: Free Standing Medical Building Square Feet: 4,866 Square Feet Year Built: 2009 Land Size: 43,574 Square Feet Parking: 24 spaces Occupancy: 100% Occupied Location: 1445 E Mitchell Hammock Road Comments: The building is a state of the art medical facility. The improvements are all A+ quality. The tenancy is very long term and stable. This investment should provide a very dependable cash flow stream. 11

8 Location Maps 12

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12 1445 East Mitchell Hammock Road, Oviedo, FL 16

13 Site Plan 17

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15 Floor Plans 19

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17 Financial Summary Michael R Simpson $ 106,470 Waterford Insurance $ 33,435 Total Rental Income $139,905 Operating Expenses Insurance * Waterford Portion Only $ 1,268 Property Taxes * Waterford Portion Only $ 4,520 Landscaping By Tenant Trash By Tenant Ext Lighting By Tenant Interior Electric By Tenant Janitorial By Tenant Ext Water By Tenant Total Operating Expenses Net Operating Income $134,117 Anticipated Value based on NOI $1,980, % Cap (return without debt) 30.5% Proration of real estate taxes and insurance Taxes 14, (.305) = $4,520 Insurance $4, (.305) = $1,268 22

18 LEASE SUMMARIES Eastbridge Dental: Original Term: 15 Years New Start Date: August 1, 2018 Square Feet: 3,380 Square Feet Lease Rate: $31.50 PSF Net Renewal Option: One 5 Year Term Use: General Dentistry Years in Business: 32 (founded in 1986) *** Net: Tenant pays proportionate share of all common expenses. Tenant pays 100% of its janitorial, utilities and maintenance. Waterford Insurance Center: Original Term: 5 Years Start Date: August 15, 2018 Square Feet: 1,486 Square Feet Lease Rate: $22.50 PSF Modified Net Renewal Option: None Use: Insurance: Independent Property & Casualty Years In Business: 9 (founded in 2009) *** Modified Net: Tenant Pays: Janitorial, Utilities, Maintenance, and Trash Landlord Pays: Real Estate Taxes and Property Insurance 24

19 Tax Assessment 25

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21 Demographics 27

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FOR SALE South Scottsdale Investment Property 3226 N Miller Rd. Scottsdale, AZ 85251

FOR SALE South Scottsdale Investment Property STUART MILNE, CCIM STEVE BERGHOFF 480.659.1777 x101 480.659.1777 x111 stuart@ steve@ Executive Summary Page 2 OFFERING SUMMARY Building Size: +/- 8,021 SF