$1,375,000 7.0% Cap Rate 9.22% Cash on Cash 13.83% Actualimages3.loopnet.com/d2/tB43PGLrBYYo2katDUFAlka4xMbnccrZDyDW5-EYWC8/... · Dilworth and the rest of the city. W. Morehead generates

CHARLOTTE, NC NNN INVESTMENT

Offering Memorandum

$1,375,000

7.0% Cap Rate

9.22% Cash on Cash

13.83% Actual

Confidentiality and DisclaimerThe 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. Marcus & Millichap is a service mark of Marcus &

Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & 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.


Charlotte, NC

ACT ID Y0860199

Charlotte, North Carolina

3


Offering Memorandum

David B. Fisher, CCIMNet Lease Investments

D. (832) 442-2828C. (936) 320-3737

[email protected]

Limited Nonresident Commercial Real Estate BrokerLicense TX: 691654

Activity ID: Z0860020

1450 Lake Robbins Drive, Suite 300The Woodlands, TX 77380

1307 W. Morehead Street, Suites 204 & 206 Charlotte, North Carolina 28208

Photo is of adjacent office development - NAP

4

S U B J EC T

CAROLINA PANTHERS STADIUM

BB&T BALL PARK

WEST MOREHEAD STREET

INVESTMENT SUMMARY…Offering Summary

Investment Overview

Investment Highlights

Site Plan

Property Photos

FINANCIAL ANALYSIS…Financial Summary

Operating Statement

Tenant Profile

MARKET COMPARABLES…Sales Comparables

For Sale Comparables

Lease Comparables

MARKET OVERVIEW…

Market Overview

Demographic Analysis

TABLE OF CONTENTS

3,452 SF| NET LEASABLE AREA |

06

07

08

10

12

14

15

17

18

2226

29

33


OFFERING SUMMARY

Price $1,375,000

Net Operating Income $96,250

Capitalization Rate – Current 7.00%

Price / SF $398.32

Rent / SF $27.88

Lease Type Absolute Net

Gross Leasable Area 3,452 SF

Year Built / Renovated 1928 / 2004

Lot Size 1 acre(s)

EXECUTIVE SUMMARY

FINANCING

Loan Amount $1,031,250

Loan Type Financed - New Loan

Loan to Value 75.00%

Down Payment 25% / $343,750

Interest Rate / Amortization 4.75% / 30 Years

Annual Loan Payment $64,554

Net Cash Flow After Debt Service 9.22% / $31,696

Cash on Cash Return 9.22%

Total Return 0.00% / $47,609

MAJOR EMPLOYERS

EMPLOYER # OF EMPLOYEES *

Compass Holdings Inc 105,300

Ruddick Operating Company LLC 20,000

Bank of America NA 8,000

Spectra Energy Capital LLC 7,000

Charltte-Mecklenburg Hosp Auth 5,313

Levine Childrens Hospital 5,064

CAROLINAS MEDICAL CENTER 4,900

Dowd YMCA 4,082

Carolinas Healthcare System 3,800

Btac Acquisition LLC 3,605

Btac Holding Corp 3,603

Baker & Taylor Fulfillment Inc 3,573

DEMOGRAPHICS

1-Miles 3-Miles 5-Miles

2017 Estimate Pop 8,254 91,667 196,146

2017 Census Pop 6,543 76,958 168,041

2017 Estimate HH 3,470 39,778 83,151

2017 Census HH 2,744 32,667 70,479

Median HH Income $31,011 $39,336 $45,821

Per Capita Income $19,174 $33,793 $36,409

Average HH Income $45,567 $76,208 $84,767

* # of Employees based on 5 mile radius

OFFERING SUMMARY

CHARLOTTE NNN

OFFERING SUMMARY


Marcus & Millichap is pleased to present to qualified investors the opportunityto acquire fee simple ownership of two contiguous units (#204 & #206) in aquality constructed, mixed-use office condominium building located in Charlotte,North Carolina. The investment is absolute net leased with 100% of expensesbeing paid directly by the single tenant and is located in Mecklenburg County,adjacent to the South End and Uptown sub-markets, which are two of the mostsought after markets within the Charlotte, North Carolina metroplex area. Theproperty is 25,800 SF and consists of 18-condominium units with 100 sharedparking spaces (free of charge) located at the rear of the building with fourseparate ingress and egress points.

The two units have been occupied by AC&M Group since 2012 and there are 5-years, 3-months remaining on the lease term with four (5) year options torenew. The lease is “absolute net”, where all expenses are passed through to thetenant including roof, structure and reserves for replacement and are paiddirectly by the tenant. The tenant invested over $150,000 of their own capital intheir interior improvements which shows strong commitment to the area. Theproperty will generate $96,250 in Net Operating Income for the first year ofownership with rent increases of 2% per year thereafter. The property was builtin 1928, underwent extensive renovations in 2008 and is known as The CraneBuilding and considered “historic”.

The property is lies between two class-A projects currently under development.On the east side is The Refinery, a brand new 107,000 SF office building withretail on the ground floor. The neighbor on the West side is Arlo, a 300-homeClass A multifamily apartment resort also with retail on the ground floor. Thetenant is a highly successful marketing agency that has grown to a staff of 35and is e-commerce resistant. There is a high demand by companies seekingunique and inspiring office space in the immediate area which bodes well forcontinued inflationary pressure on local rent rates.

OFFERING SUMMARY

CHARLOTTE NNN

INVESTMENT OVERVIEW


7

INVESTMENT HIGHLIGHTS

▪ 7.00% CAP RATE

▪ TENANT COMMITTED - $150k IN TI's PAID BY TENANT

▪ WALKING DISTANCE TO PANTHERS STADIUM & UPTOWN

▪ STRONG TENANT FINANCIALS W/ CORP. GUARANTEE

▪ HERE SINCE 2012! NEW 5-YEAR LEASE RENEWAL

▪ ABSOLUTE NET LEASE

▪ ZERO MANAGEMENT

▪ VERY DESIRABLE FREEMOREWEST LOCATION

▪ FLANKED BY TWO CLASS “A” DEVELOPMENT PROJECTS

▪ SHORT STROLL TO POPULAR LOCAL AREA RESTAURANTS

INVESTMENT | HIGHLIGHTS

#8


#

1307 W Morehead St, Charlotte, NC 28208

OFFERING SUMMARY

CHARLOTTE NNNCHARLOTTE, NC NNN INVESTMENT

REGIONAL AND LOCAL MAP

#9

The property is ideally located on W. Morehead St. which is a primary transportation artery connecting the property to South End, Uptown,Dilworth and the rest of the city. W. Morehead generates in excess of 16,500 APD. The subject also benefits from easy access to InterstateHwy 77 and a population base exceeding 217,000 within a 5-mile radius of the site.

Arlo

The RefinerySubject

OFFERING SUMMARY

CHARLOTTE NNN

SITE PLAN


#10

SITE PLAN


#11

PROPERTY PHOTOS


Arlo Refinery

#12

“AC&M has been a key & valuable partner in New Balance’s launch in the U.S. soccer marketplace. Their industry knowledge, professionalism, creativity and execution of plans have been integral in our strategy, events and activation. We highly recommend AC&M and look forward to continuing our partnership!”

______________________________

Tom Taylor, Specialty Channel MarketingNew Balance

“We love working with the AC&M team. The team consistently goes above and beyond in helping us achieve our marketing goals.”

_________________________________

Jimmy McIntyre, Vice President of MarketingSOCCER.COM

PROPERTY PHOTOS


#13

PROPERTY SUMMARY

NOTES

OFFERING SUMMARY

CHARLOTTE NNN

FINANCIAL SUMMARY


#14

FINANCIAL ANALYSIS

Income Year 1 Per SF

Scheduled Base Rental Income 96,250 27.88

Expenses Paid Direct

Insurance & Common Office Area 7,388

Real Estate Property Taxes 3,048

Business Personal Property Tax 1,221

Electricity 4,020

Water / Sewage (Incl. in COA)

Office Cleaning 4,080

Total Direct Paid $19,757 100% $5.72

Operating Expenses Year 1 Per SF

Total

Expenses$19,757 $5.72

Expenses as % of EGR 20.0%

Net Operating Income $96,250 $27.88

OFFERING SUMMARY

CHARLOTTE NNN

OPERATING STATEMENT


#15

FINANCIAL ANALYSISPRICING MATRIX & LEASE SUMMARY


#16

(4) 5-YEAR

AC&M Group is a full-service marketing agencythat excels in using Cultural Insights to connectbrands with their consumers.

The AC&M Group is truly a close-knit and well-versed family of 35 employees and threepartners. Each individual brings their ownspecial approach to marketing and our team'scultural backgrounds and passion formarketing are what make us so unique as ateam.

Today, we are proud that our team includessome of the best creative and strategic mindsin the industry.

Jaime Cardenas, Co-Founder, CEO

General Information

Tenant Name AC&M Group LLC (Est. 2004)

Website http://acmconnect.com/

Headquartered Charlotte, NC

Rentable Square Feet 3,452 SF

Lease Commencement / Renewal 5/1/2012 / 2/15/2018

Lease Expiration 5/31/2023

No. of Locations 1

TENANT PROFILE


A Sample of Satisfied Customers

#17

MARKET

COMPARABLESCOMPARABLES

OFFERING SUMMARY

CHARLOTTE NNN

CHARLOTTE – SOUTH END & UPTOWN


#18

CHARLOTTE NNN

(SUBJECT)

229 E Kingston Ave

1932 W Morehead St

1111 The Plz

SALES COMPARABLES

1

2

3

COMPARABLES MAP


#19

rentpropertyname1

rentpropertyaddress1

rentpropertyname1


rentpropertyname1


SALES COMPARABLES

SUBJECT PROPERTY

Asking Price $1,375,000

Price/SF $398.32

CAP Rate 7.00%

GLA 3,452 SF

Lot Size 1 acre(s)

Year Built 1928

Lease Term Remaining 5.3 Years

CHARLOTTE NNN INVESTMENT1307 W Morehead St, Charlotte, NC, 28208

1

Close Of Escrow 10/18/2017

Sales Price $1,200,100

Price/SF $376.92

GLA 3,184 SF

Year Built 1905

Lease Term Remaining 3 Years

229 E KINGSTON AVE229 E Kingston Ave, Charlotte, NC, 28203

2



Price/SF $378.65

GLA 5,011 SF

Year Built 1932


1932 W MOREHEAD ST1932 W Morehead St, Charlotte, NC, 28208

PROPERTY NAME

MARKETING TEAMSALES COMPARABLES


#20

rentpropertyname1


rentpropertyname1


rentpropertyname1


SALES COMPARABLES

3



Price/SF $495.97

GLA 2,480 SF

Year Built 1973

1111 THE PLZ1111 The Plz, Charlotte, NC, 28205

4



Price/SF $500.82

GLA 7,937 SF

Year Built 2005

8930 BLAKENEY PROFESSIONAL DR8930 Blakeney Professional Dr, Charlotte, NC, 28277

5

NOTES

1,500 SF $27.50 NNN (3-year term).



Price/SF $392.58

GLA 16,557 SF

Year Built 2015


11840 SOUTHMORE DR11840 Southmore Dr, Charlotte, NC, 28277

PROPERTY NAME

MARKETING TEAMSALES COMPARABLES


#21

CHARLOTTE NNN

(SUBJECT)

2237 Park Rd

112 S Tryon St Unit 1410

6505 Bannington Rd

8930 Blakeney Professional

Dr

6625 E Independence Blvd

FOR SALE COMPARABLES

1

2

3

4

5

PROPERTY NAME

MARKETING TEAMFOR SALE COMPARABLES MAP


#22

Avg. 5.60%

0.0

0.7

1.4

2.1

2.8

3.5

4.2

4.9

5.6

6.3

7.0

CharlotteNNN

2237Park Rd

112 S TryonSt Unit1410

6505Bannington

Rd

8930Blakeney

ProfessionalDr

6625 EIndependence

Blvd

Average Cap Rate

Avg. $421.77

$0.00

$60.00

$120.00

$180.00

$240.00

$300.00

$360.00

$420.00

$480.00

$540.00

$600.00

CharlotteNNN

2237Park Rd

112 S TryonSt Unit1410

6505Bannington

Rd

8930Blakeney

ProfessionalDr

6625 EIndependence

Blvd

Average Asking Price Per Square Foot

FOR SALE COMPARABLES FOR SALE COMPS AVG

PROPERTY NAME

MARKETING TEAMFOR SALE COMPARABLES


#23

rentpropertyname1


rentpropertyname1


rentpropertyname1



SUBJECT PROPERTY


Price/SF $398.32

CAP Rate 7.00%

GLA 3,452 SF

Lot Size 1 acre(s)

Year Built 1928


CHARLOTTE NNN1307 W Morehead St, Charlotte, NC, 28208

1

Asking Price $550,000

Rentable SF 1,505

Price/SF $365.45

Year Built 1930

2237 PARK RD2237 Park Rd, Charlotte, NC, 28203

2

Asking Price $803,700

Price/SF $389.39

GLA 2,064 SF

Year Built 1927

112 S TRYON ST UNIT 1410112 S Tryon St Unit 1410, Charlotte, NC, 28202

PROPERTY NAME



#24

MARKETING TEAM

rentpropertyname1


rentpropertyname1


rentpropertyname1



3


Price/SF $448.43

CAP Rate 5.60%

GLA 13,380 SF

Year Built 1992

6505 BANNINGTON RD6505 Bannington Rd, Charlotte, NC, 28226

5

Asking & Price $3,200,000

Price/SF $404.76

GLA 7,906 SF

Year Built 1991

6625 E INDEPENDENCE BLVD6625 E Independence Blvd, Charlotte, NC, 28212

4

Close Of Escrow (see above) 11/21/2016


Price/SF $500.82

GLA 7,937 SF

Year Built 2005

8930 BLAKENEY PROFESSIONAL DR8930 Blakeney Professional Dr, Charlotte, NC, 28277

PROPERTY NAME



#25

CHARLOTTE NNN

(SUBJECT)

The Refinery

11840 Southmore Dr

16623 Birkdale Commons

Pky

LEASE COMPARABLES

1

2

3

PROPERTY NAME

MARKETING TEAMLEASE COMPARABLES MAP


#26

rentpropertyname1


rentpropertyname1


rentpropertyname1


SALES COMPARABLES

SUBJECT PROPERTY

Rentable SF 3,452

Lease Rate/SF $27.88

Year Built 1928


CHARLOTTE NNN1307 W Morehead St, Charlotte, NC, 28208

1

Rentable SF 3,500


Year Built 2018

NOTES

Under construction adjacent to subject property

THE REFINERY1213 W Morehead St, Charlotte, NC, 28208

2

NOTES

1,500 SF $27.50 NNN (3-year term).

Rentable SF 1,498


Year Built 2015

11840 SOUTHMORE DR11840 Southmore Dr, Charlotte, NC, 28277

PROPERTY NAME

MARKETING TEAMLEASE COMPARABLES


#27

MARKETING TEAM

rentpropertyname1


rentpropertyname1


rentpropertyname1


LEASE COMPARABLES

3

NOTES

$27.00 NNN on a sublet.

Rentable SF 1,372

Price/SF $27.00

Year Built 1997

16623 BIRKDALE COMMONS PKY16623 Birkdale Commons Pky, Charlotte, NC, 28078

PROPERTY NAME

MARKETING TEAMLEASE COMPARABLES


#28

MARKET

OVERVIEW

MARKET OVERVIEW


#29

MARKET OVERVIEW

CHARLOTTEOVERVIEW

Located between the Blue Ridge Mountains and coastal plains, the

Charlotte metro stretches 3,198 square miles across the Piedmont

region of the Southeastern United States. It contains seven counties in

North Carolina: Mecklenburg, Gaston, Union, Cabarrus, Iredell, Rowan

and Lincoln. South Carolina counties include York, Lancaster and

Chester. A strong financial presence has contributed to the local

population growing to more than 2.4 million citizens, becoming one of

the nation’s fastest growing metros over the past 15 years. Charlotte is

the largest city, with more than 800,000 people, followed by Concord

and Gastonia, both with less than 100,000 residents.

METRO HIGHLIGHTS

POPULATION GROWTH

The population of the Charlotte metro will expand

faster than the U.S. rate during the next five years. A

large portion of the gain will be due to in-migration.

SKILLED WORKERS

Charlotte has a well-educated and highly trained

labor pool that is attracted by a variety of industries

and employers located in the metro.

ECONOMIC EXPANSION

The metro’s employment base is growing and

diversifying, drawing Fortune 500 companies.

MARKET OVERVIEW


#30

MARKET OVERVIEW

ECONOMY▪ Though the finance sector is a large driver of the economy, manufacturing, healthcare and

energy industries also play a vital role.

▪ The low cost of doing business attracts companies. Eight Fortune 500 companies have

headquarters in the region: Bank of America, Lowe’s, Quintiles Transnational Holdings,

Duke Energy, Family Dollar, Nucor, Sonic Automotive and Domtar.

▪ Highly ranked universities provide employment and produce a highly educated workforce,

drawing top companies to the area.

SHARE OF 2016 TOTAL EMPLOYMENT

MAJOR AREA EMPLOYERS

Carolinas HealthCare System

Wells Fargo

Bank of America

Charlotte-Mecklenburg Schools

Novant Health

Wal-Mart

Duke Energy Corp.

Food Lion LLC

Lowe’s

Harris Teeter* Forecast

MANUFACTURING

9%GOVERNMENT

HEALTH SERVICES

EDUCATION AND

+OTHER SERVICES

3%

LEISURE AND HOSPITALITY FINANCIAL ACTIVITIES

21%

AND UTILITIES

TRADE, TRANSPORTATION CONSTRUCTION

PROFESSIONAL AND

BUSINESS SERVICES

2%INFORMATION

17%

5%

13% 11% 8%

10%

MARKET OVERVIEW


#31

MARKET OVERVIEW

DEMOGRAPHICS

SPORTS

EDUCATION

ARTS & ENTERTAINMENT

▪ The metro is expected to add nearly 210,000 people through 2021, resulting in the

formation of approximately 90,000 households.

▪ The median home price of $220,000 has allowed 66 percent of households to own

their home, which compares with the national rate of 64 percent.

▪ Roughly 31 percent of people age 25 and older hold bachelor’s degrees; among

those residents, 10 percent have also obtained a graduate or professional degree.

The Charlotte metro offers a wide variety of cultural and entertainment activities. Charlotte

hosts several historical sites due to the strong ties to the American Revolution, Civil War and

the first gold rush in the nation. Additional museums and cultural amenities include Bechtler

Museum of Modern Art, Historic Rosedale Plantation, Wells Fargo History Museum,

Charlotte Symphony Orchestra, Opera Carolina and the Carolina Renaissance Festival.

Charlotte offers professional football, basketball, soccer and lacrosse. The Carolina

Panthers and Charlotte Bobcats have stadiums in Uptown Charlotte. The metro includes the

legendary Charlotte Motor Speedway that hosts major NASCAR races.

37.1

2016MEDIAN AGE:

U.S. Median:

37.7

$53,900

2016 MEDIAN HOUSEHOLD INCOME:

U.S. Median:

$57,200

2.4M

2016POPULATION:

Growth2016-2021*:

8.6%

933K

2016HOUSEHOLDS:

9.1%

Growth2016-2021*:

QUALITY OF LIFE

2016 Population by Age

0-4 YEARS

6%5-19 YEARS

21%20-24 YEARS

6%25-44 YEARS

28%45-64 YEARS

26%65+ YEARS

12%

* Forecast

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s

Analytics; U.S. Census Bureau

MARKET OVERVIEW


#32

CREATED ON FEBRUARY 15, 2018

1 Miles 3 Miles 5 Miles

POPULATION

2022 Projection 7,764 94,341 201,857

2017 Estimate 8,254 91,667 196,146

2010 Census 6,543 76,958 168,041

2000 Census 8,300 72,594 157,984

INCOME

Average $45,567 $76,208 $84,767

Median $31,011 $39,336 $45,821

Per Capita $19,174 $33,793 $36,409

HOUSEHOLDS

2022 Projection 3,392 42,533 87,618

2017 Estimate 3,470 39,778 83,151

2010 Census 2,744 32,667 70,479

2000 Census 3,040 28,830 64,738

HOUSING

2017 $130,900 $188,413 $193,549

EMPLOYMENT2017 Daytime Population

13,345 246,652 398,067

2017 Unemployment 10.88% 9.93% 8.31%

2017 Median Time Traveled

23 23 23

RACE & ETHNICITY

White 17.67% 33.06% 40.45%

Native American 0.02% 0.06% 0.06%

African American 77.05% 57.82% 47.52%

Asian/Pacific Islander

1.34% 3.41% 4.51%

MARKETING TEAM

PROPERTY NAME

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMECHARLOTTE NNN

PRICING AND VALUATION MATRIX

PROPERTY NAME

DEMOGRAPHICSDEMOGRAPHICS


#33

MARCUS & MILLICHAP CAPITAL CORPORATION

CAPABILITIES

MMCC—our fully integrated, dedicated financing arm—is committed to

providing superior capital market expertise, precisely managed execution, and

unparalleled access to capital sources providing the most competitive rates and

terms.

We leverage our prominent capital market relationships with commercial banks,

life insurance companies, CMBS, private and public debt/equity funds, Fannie

Mae, Freddie Mac and HUD to provide our clients with the greatest range of

financing options.

Our dedicated, knowledgeable experts understand the challenges of financing

and work tirelessly to resolve all potential issues to the benefit of our clients.

National platform

operating

within the firm’s

brokerage offices

$5.1 billion total

national

volume in 2016

Access to more

capital sources

than any other

firm in the

industry

Optimum financing solutions to

enhance value

Our ability to enhance buyer

pool by expanding finance

options

Our ability to enhance

seller control

• Through buyer

qualification support

• Our ability to manage buyers

finance expectations

• Ability to monitor and

manage buyer/lender progress,

insuring timely,

predictable closings

• By relying on a world class

set of debt/equity sources

and presenting a tightly

underwritten credit file

WHY MMCC?

Closed 1,651

debt and equity

financings

in 2016

MARKETING TEAM

PROPERTY NAME

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIX

PROPERTY NAMECHARLOTTE NNN

PRICING AND VALUATION MATRIX

PROPERTY NAME

DEMOGRAPHICSACQUISITION FINANCING


#34

N E T L E A S E D D I S C L A I M E R

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.

35

$1,375,000 7.0% Cap Rate 9.22% Cash on Cash 13.83% Actualimages3.loopnet.com/d2/tB43PGLrBYYo2katDUFAlka4xMbnccrZDyDW5-EYWC8/... · Dilworth and the rest of the city. W. Morehead generates

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