IHOP Single Tenant Retail Investment 18 Year Abs NNN 24 Hour Location 1240 N Dixie Highway, Monroe, MI Click Image For Online Property Map

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1 IHOP Single Tenant Retail Investment 18 Year Abs NNN 24 Hour Location 1240 N Dixie Highway, Monroe, MI O F F E R I N G M E M O R A N D U M Click Image For Online Property Map

2 DISCLOSURE : All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as FNL ), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agent s, advisors, or affiliates as to completeness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial performance of the property, projected financial performance of the property for any party s intended use or any and all other matters. Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE: Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws. E XC LU S I V E LY L I S T E D BY: ABRAHAM LEON Senior Associate Fortis Agents Cooperate Click Here To Meet The Team aleon@fnlre.com IHOP

3 INVESTMENT SUMMARY List Price: $2,083,333 Current NOI: $125,000 Initial Cap Rate: 6.0 % Average Cap Rate: 6.67 % Land Acreage: 1.38 Acres +/- Year Built: 1972 Year Renovated: 2015 Building Size: 4,910 SF Google Aerial Map: Click HERE Google Street Map: Click HERE LEASE SUMMARY Lease Type: Taxes/CAM/Insurance: Structure/Roof/Parking: Lease Term: Rent Commencement: Rent Expiration: Term Remaining: Rent Increases: Option Periods: Option Rent Increase: Guarantee: Absolute NNN Tenant Responsibility Tenant Responsibility 18 Years Upon Close of Escrow 18 years after COE 18 Years Yes -8% Every 5 Years Two(2), Five(5) Year Options 8% in each Option Trinity Restaurant Group, LLC (13 unit franchisee) INVESTMENT HIGHLIGHTS 18 Year Absolute NNN Investment Sale Leaseback Recently Renovated (2015) 24 Hour IHOP location at a well know travelers stop just off the interstate express way Zero Landlord Responsibilities 8% Rental Increases every 5 Years (First one in year 2023) Two (2)- Five (5) Year Renewal Options with increases Guarantee - Trinity Restaurant Group, LLC - 2 Time IHOP Franchisee of the Year winners with 13 IHOP locations in Michigan and a 14th location scheduled to open in % Leased to IHOP Restaurant, a Subsidiary of DineEquity, Inc. which is the Largest Casual-Dining Restaurant Chain in the World LOCATION HIGHLIGHTS Located in a well Known Travelers Stop Along the Heavily traveled I-75 with More Than 68,000 VPD Monroe is Home of the La-Z-Boy World Headquarters, 14 Miles North of Toledo and 25 miles South of Detroit, Just off of the Interstate 75 Nearby National Retailers Include McDonalds, Taco Bell, Wendy's, Cracker Barrel, Denny's, Subway, Tim Hortons, Also Nearby are Major Hotel Chains including Quality Inn, Days Inn, and Holiday Inn Average Household Income Exceeds $65,000 Within 1 Mile Median Home Value Within 1 Mile Exceeds $124,079

4 INVESTMENT OVERVIEW Fortis Net Lease is proud to present the Sale Leaseback of this free-standing IHOP restaurant in Monroe, MI. The investment has an 18 year Absolute NNN lease with zero landlord responsibilities and 8% increases every 5 years with the first increase coming in The property is located at the signalized corner of N Dixie Hwy and Ternes Dr. with ingress/egress points on both roads. This is a 24 hour location which was renovated into an IHOP in The location is just off of Interstate 75, one of the main highways traveled to enter into or depart from metro-detroit, and North Dixie Highway is a well known travel stop along I-75. The award winning operators, 2 Time IHOP Franchisee of the Year winners, are seasoned restauranteurs with 13 IHOP locations in MI and a 14th location opening in This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities. The tenant is responsible for all property taxes, insurance, and capital expenditures including the roof, structure, & HVAC. TENANT OVERVIEW IHOP - officially known as the International House of Pancakes, is an American multinational pancake house/fast casual family restaurant chain that specializes in breakfast foods. It is owned by DineEquity, with 99% of the restaurants run by independent franchisees. In the past, the world knew us as IHOP, an American icon to it s guests and a franchising company that was focused on providing strategic leadership and vision for it s franchisees and on enhancing value for it s shareholders. With the addition of Applebee s to the IHOP family of restaurants in November 2007, they made a bold new commitment to their brand revitalization abilities and to the power of franchising. DineEquity promises to make its two businesses more powerful and more successful than either brand could have been apart. In October of 2012, DineEquity successfully completed the transition of Applebee s to a 99% franchised restaurant system. The goal remains to provide delicious, innovative dishes and exceptional guest experiences each and every time a guest walks through either brand s doors. With more than 3,600 restaurants combined in 17 countries, over 400 franchisees and approximately 200,000 team members (including franchisee- and company operated restaurant employees), DineEquity is one of the largest full-service restaurant companies in the world. TRINITY RESTAURANT GROUP, LLC Trinity Restaurant Group LLC was founded in early 2004 by John Baker and Dino Savant and currently operates 13 IHOP locations in MI. John and Dino worked throughout the corporate structure of many national and international brands ranging from quick serve to casual dining. Both partners specialized in a wide variety of areas within the industry, enabling them to apply a diverse skill-set that later allowed them to foster a well respected IHOP Restaurant chain in the Michigan region. Today their family of companies has grown from owning and operating 5 restaurants to over 31 locations ranging from casual to quick serve dining. John and Dino continue to be active within the restaurant industry and are actively involved in the IHOP Marketing Committee, Development Committee, and the Franchisee Co-op.

5 Monroe, MI Monroe is a community that has a shared vision that seeks to balance the opportunities of economic development with the stewardship that is required for historic preservation. Monroe is also Michigan s third oldest community. With a population of nearly 23,000, Monroe is located about 17-miles north of Toledo, Ohio and about 35-miles south of Detroit. The City of Monroe was incorporated in 1817 and is also the county seat of Monroe County. Monroe s location on the west shore of Lake Erie and its River Raisin made it a natural crossroads for food and transportation that attracted the Potawatomi Tribe of Indians who first lived here. Later, French missionaries, fur trappers, and settlers came for the same reasons. Residents and visitors today continue to find Monroe to be a welcoming crossroads of historic and natural treasures. The city is home to the National Register of Historic Places War of 1812 River Raisin Battlefield. Monroe s natural environment is showcased and preserved by having the 260 -acre Eagle Island Marsh unit of the Detroit River International Wildlife Refuge located in it. And the inland sea of Lake Erie offers boating, swimming, camping, wetlands exploration, hiking, and fishing, at the 1,300-acre Sterling State Park on the shores of Lake Erie.

6 New Development - ProMedica Hospital 134 Beds - Four Story Hospital Industrial Park

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9 Industrial Park - Including Backyard Products Howard Ternes Packaging Plant Advanced HeatTreat Corporation Ammex Plastics Fluid Equipment Development SYGMA Network Pioneer Metal Finishing National Galvanizing LP Monroe Aluminum Products

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11 Largest Employers in Monroe, MI ProMedica Regional Hospital Monroe County of Monroe DTE Energy La-Z-Boy Gerdau Macsteel Monroe Bank & Trust City of Monroe SYGMA Network 50,612 People Live Within 5 Miles Average Household Income Exceeds $65,000 Within 1 Mile

12 Population 1 Mile 3 Miles 5 Miles 2017 Total Population: 2,221 31,801 50, Population: 2,205 31,600 50,249 Average Age: Households 2017 Total Households: ,574 19,978 Median Household Inc: $49,106 $43,172 $44,597 Avg Household Size: Avg HH Vehicles: Housing Median Home Value: $124,079 $122,931 $132,056 Median Year Built: Population: 1 Mile 3 Miles 5 Miles 2022 Projection 2,205 31,600 50, Estimate 2,221 31,801 50, Census 2,255 32,130 51, Population Hispanic Origin 90 1,731 2, Population by Race: White 2,024 28,551 46,368 Black 108 1,927 2,315 Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other ,260 U.S. Armed Forces: Households: 2022 Projection ,495 19, Estimate ,574 19, Census ,696 20,271 Growth (0.70%) (0.63%) (0.74%) Growth (1.38%) (0.96%) (1.45%) Owner Occupied 655 7,681 13,768 Renter Occupied 200 4,893 6, Avg Household Income $65,091 $56,401 $61, Med Household Income $49,106 $43,172 $44, Households by Household Inc: <$25, ,343 4,940 $25,000 - $50, ,913 5,939 $50,000 - $75, ,824 2,972 $75,000 - $100, ,810 2,938 $100,000 - $125, ,371 $125,000 - $150, $150,000 - $200, $200,

13 E XC LU S I V E LY L I S T E D BY: ABRAHAM LEON Senior Associate aleon@fnlre.com IHOP [