Advance Auto Parts 904 State Street Bunnell, FL 32210

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1 Capital Markets Net Lease Property Group INVESTMENT HIGHLIGHTS Advance Auto Parts 904 State Street Bunnell, FL Advance Auto: 2 nd largest auto parts retailer in the U.S. (NYSE: AAP, S&P Rated BB+) 15-year NNN lease (landlord responsible for capital repairs to slab, foundation and structure only; landlord also must carry $2M general liability policy) Tenant responsible for CAM, insurance and taxes :: :: CHRIS BOSWORTH Senior Vice President chris.bosworth@cbre.com MARK DRAZEK CBRE FL Licensee mark.drazek@cbre.com Three five-year options with 5% bumps per option period Located along US Hwy 1; traffic count of 16,200 Vehicles Per Day Bunnell, FL is the county seat of Flagler County; located on the Atlantic Coast of Florida equidistant from Jacksonville and Orlando Store opened with strong sales performance INVESTMENT SUMMARY PRICE: NOI: CAP: $1,800,000 $139, % For more information about our group and services please visit our website at

2 Capital Markets Net Lease Property Group Advance Auto Parts INVESTMENT OVERVIEW CB Richard Ellis Net Leased Property Group is pleased to offer for sale a 6,887-sf Advance Auto Parts located at 904 State Street in Bunnell, Florida. This store operates under a 15-year NNN lease (landlord has capital items on structure) and opened for business on November 6, Bunnell, FL is situated in the eastern portion of Flagler County, which is located on the Atlantic Ocean, in the heart of Northeast Florida, equidistant between the cities of Jacksonville and Orlando. The property is located just north of downtown Bunnell at the hard corner of US Highway 1 and Woodland Street; just north of where Highway 20 (the main east-west highway) intersects US Highway 1. US Highway 1 (16,200 Cars Per Day) is the main north-south highway running 5 miles west of Interstate 95 connecting Bunnell to Palm Coast to the north and Ormond Beach to the south. Other area retailers in the immediate area include Pizza Hut, Dollar General, State Street Diner, Budget, Jiffy Food Stores, Kangaroo Express, Chicken Pantry and Harris Grocery. This investment gives a savvy investor the opportunity to acquire a 15-year NNN property leased to an investment grade tenant in a stable coastal community in Northeast Florida. PROPERTY OVERVIEW. ADDRESS: 904 North State Street, Bunnell, FL TENANT: Advance Auto Parts GUARANTOR: Advance Stores Company SQUARE FEET: 6,887 ACRES:.982 PARKING: 38 spaces TERMS, BASE RENT & OPTIONS LEASE COMMENCEMENT: November 6, 2008 LEASE EXPIRATION: November 30, 2023 LEASE TERM: 15 years BASE RENT: Yr. 1-15: $139,245 OPTIONS: Three five-year options with five percent bumps OPTION RENTS: Option 1: $146,207 Option 2: $153,517 Option 3: $161,193

3 TENANT OVERVIEW Tenant: Advance Auto operates under two segments, Advance Auto Parts (AAP) and AI. The AAP segment operates stores that offer replacement parts and service in the United States, Puerto Rico, and the Virgin Islands. As of December 30, 2006, this segment operated 2,995 stores under the trade names Advance Auto Parts, Advance Discount Auto Parts and Western Auto. The AI segment operates stores which provide replacement parts for domestic and imported cars, and light trucks for the commercial market in New England and New York. As of December 30, 2006, AI segment operated 87 stores under the Autopart International trade name in the northeast United States. The company, formerly known as Advance Stores Company, Incorporated, was founded in 1929 and is based in Roanoke, Virginia. For additional information about Advance Auto, please visit their website at

4 SITE PLAN DEMOGRAPHICS 1 MILE 3 MILE 5 MILE Population 3,101 11,051 26,766 Avg Household Income $48,682 $51,092 $55,214

5 TAXES, INSURANCE & CAM TAXES: Tenant shall reimburse Landlord for all real estate taxes, assessments or other ad valorem taxes. Tenant shall reimburse Landlord for such taxes within thirty (30) days from receipt from Landlord of a statement of such taxes. INSURANCE: Tenant shall, at its own cost and expense, maintain insurance with respect to the Premises to the extent of its full replacement value against loss or damage by fire, with extended coverage. Furthermore, Tenant shall maintain with respect to the leased premises a policy of general liability insurance, naming Landlord as an additional insured, with limits of $2,000,000 per occurrence. Landlord shall maintain with respect to the leased premises a policy of general liability insurance, naming Tenant as an additional insured, with limits of $2,000,000 per occurrence. CAM: Tenant shall, at its cost, during the Term, maintain, repair and/or replace, in good condition and repair, each and every portion of the Leased Premises. Tenant shall further keep the Leased Premises in a reasonably clean and neat condition and not permit accumulation of trash, rubbish or garbage in, on or about the Leased Premises. Tenant agrees to pay the charges and all required deposits for all the utility services furnished to and used by Tenant in the Leased Premises during the Term directly to the utility company. Landlord shall, at its cost, during the Term, maintain, repair and/or replace the slab, foundation and structure of the Leased Premises (including, without limitation, repairing any cracks or other damage thereto, but specifically excluding painting of the exterior walls).

6 TAXES, INSURANCE & CAM cont. MISC: PERCENTAGE RENT - Tenant shall pay to Landlord as additional rent a sum equal to 2.5% of Tenant's Gross Sales in excess of the applicable breakpoint.