for sale MCMINNVILLE, OR single tenant INVESTMENT new LEASE EXTENSION BILLY SLEETH

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1 for sale single tenant INVESTMENT OPPORTUNITY new LEASE EXTENSION PAUL SLEETH BILLY SLEETH

2 highlights The offering provides the opportunity to acquire a successful ±23,805 square foot single tenant Staples store. As the only office supply store in the city of McMinnville, OR, Staples maintains the dominant market position. Historical occupancy, a new lease extension and low rent provide stability and future upside to the investor. NEW LEASE EXTENSION Staples recently extended their lease for an additional 3 years through August PROFITABLE LOCATION McMinnville historically and currently is a profitable store. The success at this location combined with the low rent of $12.10/SF/YR provides stability and future upside to the investment. NATIONAL TENANT Staples is a national publicly traded tenant (SPLS) and provides stability and credit to the investment. HISTORICAL OCCUPANCY Staples has successfully operated at this location for 20 years. EASE OF MANAGEMENT Staples has a net lease providing ease of management with minimal landlord responsibility. RENTAL INCREASES The lease contains 10% rental increases each 5-year option period. EXCELLENT LOCATION The property benefits from an excellent location on Highway 99 & McDonald Lane. Highway 99 is the main thoroughfare through the city of McMinnville with over 26,000 ADT at the intersection. Staples benefits directly from the nearby McMinnville School District, Linfield College, and other local corporations that require office supplies. DOMINANT MARKET LOCATION Staples is the only specialty office supply store in the City of McMinnville. The closest competing office supply retailers are over 30 miles away. NO DEBT The property is offered free and clear of debt allowing an investor to take advantage of a new loan. STRONG RETAIL CORRIDOR The property is located in a strong retail corridor with nearby retailers including: Petco, Ross, Safeway, Wal-Mart, Big 5, JoAnn s, Winco, and JC Penney. EXCELLENT ACCESS & VISIBILITY The site benefits from excellent access and visibility at the fully signalized intersection of Highway 99 & McDonald Lane, with two access points on each street NE HIGHWAY 99W,

3 site plan HIGHWAY 99W MCDONALD LANE LOADING DOCK NE HIGHWAY 99W,

4 site aerial HIGHWAY 99 26,400 ADT PATTON MIDDLE SCHOOL NE HIGHWAY 99W,

5 retail trade area aerial NE HIGHWAY 99W, MCMI NNVI LLE, OR

6 terms of the offering $3,840, % 23,805 SF ASKING PRICE CAP RATE BUILDING AREA 1.73 Acres LAND AREA As-Is Year 1 Net Operating Income $288,041 Financing Offered Free & Clear Address 1150 NE Highway 99W, McMinnville, OR Year Built Building was originally constructed in 1969 and completely renovated in 1997 Parking 80 Parking Stalls; 3.36/1,000 SF of Building Area Parcel # R4416AC LEASE SUMMARY Tenancy Single Tenant: Staples S&P Credit Rating BBB Lease Type NNN, Landlord is responsible for maintenance, repair, and replacement of all structural portions of the building & roof. Lease Term Five years, with three 5-year options. Lease Expiration Date 8/31/2020 Current Rent $288,041 Annually ($12.10/SF) OPTION TERMS Option 1 9/1/2020 8/31/2025: $316,845 Annually ($13.31/SF) Option 2 9/1/2025 8/31/2030: $348,505 Annually ($14.64/SF) Option 3 9/1/2030 8/31/2035: $383,499 Annually ($16.11/SF) NE HIGHWAY 99W,

7 demographics POPULATION 3 MILES 5 MILES INCOME 3 MILES 5 MILES 2010 Population 2016 Population 2021 Population 32,948 33,957 34,957 41,941 43,662 45, Median Household Income 2021 Median Household Income 2016 Average Household Income 2021 Average Household Income 2016 Per Capita Income 2021 Per Capita Income $45,561 $49,928 $62,643 $67,817 $23,667 $25,488 $48,334 $53,064 $64,135 $70,138 $23,613 $25,670 5 MILES 3 MILES NE HIGHWAY 99W,

8 PAUL SLEETH Executive Managing Director BILLY SLEETH Executive Managing Director The information contained herein has been obtained from sources deemed reliable but has not been verified and no guarantee, warranty or representation, either express or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice. 03/17