SANFORD, FLORIDA. Subject Property North U.S. Highway 17/92 Sanford, Florida Just Brakes in Strong Retail Area in Greater Orlando MSA

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1 Subject Property SANFORD, FLORIDA Just Brakes in Strong Retail Area in Greater Orlando MSA 15 Percent Bumps in Rent Every Five Years Located on U.S. Highway 17-92, with Traffic Counts Averaging Over 32,000 Vehicles Daily Surrounded by Numerous National Retailers Including Publix, Walgreens, CVS, Walmart Supercenter, Lowe s, Ross, GameStop, Dunkin Donuts, KFC, Wendy s and Many More 4231 North U.S. Highway 17/92 Sanford, Florida 32773

2 CONFIDENTIALITY AND DISCLAIMER NET LEASED DISCLAIMER The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. NON-ENDORSEMENT NOTICE Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows: The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant s past performance at this or other locations is an important consideration, it is not a guarantee of future success.similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net leased property.

3 4231 North U.S. Highway 17/92, Sanford, Florida Subject Property

4 Just Brakes The mission of Just Brakes is to provide customers with the best experience and value in the auto repair industry Investment Highlights Price: $1,565,000 Cap: 7.25% RENTABLE SQUARE FEET...3,940 ANNUAL RENT...$113,532 RENT PER SQUARE FOOT...$28.82 LEASE TYPE...NNN LAND AREA...1 Acre +/- LEASE EXPIRATION DATE...5/31/2023 RENEWAL OPTIONS...Three, Five-Year Options Location Highlights The Just Brakes in Sanford is in a busy retail area with surrounding national retailers including Publix, Walgreens, CVS, Walmart Supercenter, Lowe s, Ross, GameStop, Dunkin Donuts, KFC, Wendy s, Pizza Hut, Papa John s and many more. Located off U.S. Highway 17-92, also referred to as South Orlando Drive, the subject property is directly across the street from Seminole State College of Florida, which has more than 32,000 students and 800 faculty and staff. The subject property is five miles from Orlando Sanford International Airport. Market Highlights Sanford and Seminole County are included in the Orlando-Kissimmee-Sanford, Florida Metropolitan Statistical Area, which has a population of more than 2 million people. This is the third-largest metropolitan area in Florida, the fifth-largest in the southeastern United States, and the 26th-largest in the United States. Greater Orlando is best known for its tourism industry, which attracts millions of visitors each year.

5 Investment Highlights Price $1,565,000 Price Per Square Foot: $ Capitalization Rate: 7.25% Total Rentable Area (Square Feet): 3,940 Lot Size (Acres): 1 Acre +/- Year Built: 2008 Income Annual Rent: $113,532 Expenses Taxes: Insurance: Common Area Maintenance: Roof & Structure: Responsibility Tenant Tenant Tenant Tenant Net Operating Income $113,532

6 Rent Roll Tenant Info Lease Terms Rent Summary Square Feet Term Current Rent Monthly Rent Yearly Rent Yearly Rent/SF Just Brakes 3,940 Current-5/31/2018: $113,532 $9, $113, $ /1/2018-5/31/2023: $10, $130, $33.14 Extension Periods Option 1, 6/1/2023-5/31/2028: $12, $150, $38.11 Option 2, 6/1/2028-5/31/2033: $14, $172, $43.83 Option 3, 6/1/2033-5/31/2038: $16, $198, $50.41 Current Rent $113,532 $9,461 $113,532 $28.82 Lease Commencement Date: 6/1/2008 Lease Expiration Date: 5/31/2023 Subject Property

7 Subject Property Tenant Summary Just Brakes began back in 1980 with a single brake store located in Bryan, Texas. Today, the company operates hundreds of stores in numerous markets. They have also grown to be more than just brakes they now offer total car care. Even through the growth of the company, the mission still remains the same: to provide customers with the best experience and value in the auto repair industry. The name Just Brakes has long belied the variety of services the multistate dealership chain offers in an increasingly competitive industry. While brake service is still a major portion of Just Brakes sales, the dealership offers an array of auto maintenance services and is planning to add tires to the mix as well. Since coming under new ownership the dealership has expanded to 136 locations with the opening of four stores in Dallas and White Settlement, Texas, and Hobe Sound and Fort Pierce, Florida. Seven more store openings in existing buildings are planned for 2015, mostly in Florida. For the near term, the company is focusing on filling in its existing markets, particularly in Georgia, Florida and Texas. The company also has stores in Arizona, Colorado, Nevada, New Mexico and Utah. Just Brakes CEO, Bill Ihnken, said the dealership wants to fill in some of its markets in Texas with the purchase of existing buildings or potential acquisitions. In Florida, the company is focusing on expanding in the state through growth in several target markets, including Orlando, West Coast/ Tampa area, West Palm Beach area and Jacksonville.

8 Aerial Traffic Count: 32,000+ Vehicles Per Day U.S. Highway / South Orlando Drive

9 Regional & Local Map Bird s Eye Photo of Subject Property 4231 North U.S. Highway 17/92, Sanford, Florida 32773

10 Location Overview Sanford, Florida / Seminole County Sanford is the county seat and largest city in Seminole County. Sanford is fixed between Orlando to the south and Daytona Beach to the north. Sanford and Seminole County are included in the Orlando-Kissimmee-Sanford, Florida Metropolitan Statistical Area, which has a population of more than 2 million people. This is the third-largest metropolitan area in Florida, the fifthlargest in the southeastern United States, and the 26th largest in the United States. Greater Orlando is best known for its tourism industry, which attracts millions of visitors each year. Famous attractions include Walt Disney World, Universal Studios Orlando and SeaWorld Orlando. The current population of Seminole County is 439,519 with the median age of 38. Seminole County s median household income is $56,134, and the average household net worth is $465,910. Population Sanford 1 Mile...4,619 3 Miles...53,774 5 Miles...143,303 Household incomes 1 Mile...$94,101 3 Miles...$69,621 5 Miles...$70,649 Top Employers Seminole County Public Schools Seminole State College of Florida Seminole County Government

11 Demographics Summary Report Geography: 5 Miles Population In 2014, the population in your selected geography is 143,302. The population has changed by percent since It is estimated that the population in your area will be 153,093 five years from now, which represents a change of 6.83 percent from the current year. The current population is percent male and percent female. The median age of the population in your area is 38.0, compare this to the entire United States average which is The population density in your area is 1, people per square mile. Households There are currently 55,468 households in your selected geography. The number of households has changed by percent since It is estimated that the number of households in your area will be 59,701 five years from now, which represents a change of 7.63 percent from the current year. The average household size in your area is 2.57 persons. Income In 2014, the median household income for your selected geography is $52,752, compare this to the entire United States average which is currently $51,972. The median household income for your area has changed by percent since It is estimated that the median household income in your area will be $57,701 five years from now, which represents a change of 9.38 percent from the current year. Race & Ethnicity The current year racial makeup of your selected area is as follows: percent White, percent Black, 0.07 percent Native American and 3.77 percent Asian/Pacific Islander. Compare these to entire United States averages which are: percent White, percent Black, 0.18 percent Native American and 5.02 percent Asian/Pacific Islander. People of Hispanic origin are counted independently of race. People of Hispanic origin make up percent of the current year population in your selected area. Compare this to the entire United States average of percent. Housing In 2000, there were 31,527 owner occupied housing units in your area and there were 12,930 renter occupied housing units in your area. The median rent at the time was $591. Employment In 2014, there are 73,073 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that percent of employees are employed in white-collar occupations in this geography, and percent are employed in blue-collar occupations. In 2014, unemployment in this area is 7.11 percent. In 2000, the average time traveled to work was 27.3 minutes. The current year per capita income in your area is $27,495, compare this to the entire United States average, which is $28,599. The current year average household income in your area is $70,648, compare this to the entire United Statesaverage which is $74,533.

12 Subject Property SANFORD, FLORIDA For more info please contact the Wolfe Retail Group Blayne Lipman Associate (954) Barry M. Wolfe First Vice President of Investments (954) Alan Lipsky Associate (954) Catie Jackson Marketing and Transaction Manager (954)