400 S. Hwy Shervin Property Jackson, WY

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1 400 S. Hwy Shervin Property Jackson, WY Offering Information Andrew Cornish Cornish Lamppa P age

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4 Property Description The Shervin Property is comprised of Highway-fronting retail / service and excellent quality residential apartments, two of Jackson, Wyoming s most sought-after property types. The offering presents the opportunity to purchase the property located at 400 S. Highway 89 in Jackson, Wyoming, which is being offered jointly with the business enterprise of Shervin s Independent Oil. The ownership will sell the operating company of Shervin s Independent Oil independent of the real estate with a long term lease being provided. However, it is not the desire of the ownership to sell the real estate without selling the operating company first or concurrently. Shervin s Independent Oil is a family-owned business engaging in retail gas sales, heating oil sales, tire sales, and automotive repair. The real estate at this location consists of a 1.67-acre lot that is improved with a 11,200 SF shop building with 400 SF of second floor ancillary office area (11,600 SF overall) and an 18,177 SF building allocated between the uses of retail, storage bays, and residential apartments (16 studio units and 4 one-bed units, for a total of 20 apartments). All totaled, the buildings account for 29,777 SF of building area 1. The land on which the improvements sit totals 1.67 acres in size and is located at the northeast corner of South Highway 89 and Maple Way. The site has approximately 400 feet of frontage on Maple Way and over 200 feet of frontage on Highway 89. This provides superb exposure to the estimated average daily traffic volume of 18,980 at this location. Real Estate Improvements and Land Real Estate (Improvements) S. Hwy 89 Improvement Sizes Individual Buildings Gross Building Area Rentable Area Shop Building 11,600 11,200 Mixed Commercial/ Residential Building 18,177 17,746 Residential Apartments 11,694 11,694 Garage/Storage 4,956 4,956 Retail Spaces 1,096 1,096 Lobby, Mechanical Gross Building Area Gross Rentable Area Above-Grade Gross 29, , , Measurements have been taken from a combination of Teton County data and some measurements. This information is deemed to be accurate, but not guaranteed. Investors are advised to perform their own physical observations and inspections. 4 P age

5 Gross Size Effective Size 400 S- Hwy 89 -Site Description Square Feet Acres 72, Square Feet Acres 72, Access / Exposure Topography On-Site Improvements Off-Site Improvements Flood Plain Surrounding Uses The subject site is accessed from both S. Highw ay 89 and Maple Way. This location affords the site excellent traffic exposure and visibility. The site is level. Paved drivew ay and parking areas, gas dispensing pumps, and steel canopies over the pumps. Road Water Sewer Public Public Public Not in a special flood zone area. FEMA panel 56039C2906C (9/29/2006) Retail, restaurants, professional offices, lodging Equipment The equipment of the business operations is comprised of the hoists, compressors and tools of the automotive repair shop (inventory provided separately), as well as the fuel dispensing equipment. The current dispensing equipment includes bulk dispensing as well as (5) two-hose gasoline pumps; (1) four-hose diesel pumps (diesel No.1 and No.2); (1) six-hose diesel pump (providing the sale of off-road diesel); and a four-hose pump dispensing both gas and diesel. The southern pumps are covered with a 50 x 56 steel canopy. Pumps are scheduled to be replaced in the spring of 2018, and the opportunity exists for a purchaser to control this process and branding. The Wyoming Department of Environmental Quality identifies Shervin s Independent Oil as being Tank Site 0369 and reported via a May 1, 2017 interview with Sterling Roberts (Supervisor of the Lander Office of the Wyoming DEQ) that there have been no leaks or discharges on the site. The DEQ office further reports the following summary of tanks on site: Tank # Size (Gallons) Age / Install Date Use 6 4,000 1/1/1989 Diesel No ,000 10/1/1996 High Sulphur Diesel 8 12,000 10/1/1996 Unleaded 9 12,000 10/1/1996 Premium 10 12,000 10/1/1996 Diesel No ,000 6/1/1989 Waste Oil 5 P age

6 Property Strengths 1) Broadway Fronting; 2) The last and only gas station on east side when approaching the intersection of S. Highway 89 and State Highway 22 from south; 3) Provision of excellent quality apartments in a housing-starved market; 4) Average traffic counts for the subject property are second only to traffic counts between Hwy.22 and Pearl Avenue. 6 P age

7 Income Through Rental Real Estate The real estate revenue for the subject property is attributable to the rental of the garage/shop, residential apartments, retail space, and storage. Shop Space The primary commercial building is the automotive shop and tire center that also serves as cashier for convenience and non-credit card gas sales. Opportunity exist to reallocate magnitude of uses between, garage, tire, convenience store and other uses at purchasers discretion. Residential Apartments - Revenue The subject site is improved with (16) studio apartments and (4) one-bedroom apartments. Cornish Lamppa Realty Group BROKERAGE OF THE TETONS Andrew Cornish Responsible Broker P age