Valuation # 4940399 - Exceleras · Description Sale #3 Office space in a similar suburban location. Similar size, age and overall condition.€ Subject Property As Is Repaired Sales

Valuation # 4940399 2015 S Dayton Lakeview Rd , New Carlisle, OH 45344

Loan# JTS: 1013.038 Debtor: Yogi Narayan LLC

Commercial Drive By completed by Shannon Grant RE/MAX Alliance Realty, 937-898-4400

Completed on: 4/21/2017

Client: National Loan Investors (NLI)

Notwithstanding any preprinted language to the contrary, this is not an appraisal of the market value of the property. If an appraisal is desired, the services of a licensed or

certified appraiser must be obtained.

Subject Property 2015 S Dayton Lakeview Rd , New Carlisle, OH 45344 Loan #: JTS: 1013.038 Debtor: Yogi Narayan LLC Property Type: Commercial: mixed use

Commercial Drive By completed by Shannon Grant Completed on: 4/21/2017 Client: National Loan Investors (NLI)

Project/Deal Name: JTS: 1013.038 FC Sale Date: Parcel Number:

OccupancyStatus: Occupied

# of Units: 1

Comments: The commercial returant is occupied for meal preparation/sales and a drive thru service on the north side of the building.

Unit 1 Unit #: Unit 1 Sq. Ft.:

Property Secured: Yes Occ Type: Homeowner

Suggested Pricing Listing Price Selling Price Est. Mkt. Time

As Is $749,900 $720,000 225 days

Repaired $749,900 $720,000 225 days

As Is 30 day Quick sale $599,000 $550,000 30 days

Annual Tax Amount: $10,279 Total # of properties, of the same property type, on market in the same zip code as subject listed in the MLS: 0 Delinquent tax amount: $0

Type of Financing: Conventional Total # of properties, of the same property type, closed in the last three months, in the same zip code as subject: 0Seller Concession: Other

Current Listing InformationCurrently Listed: No List Date: Days on Market: Original List Price:

Current List Price: MLS#: Agent Name: Agent Phone:

Sale History for last 5 yearsHas subject property been sold in the last 5 years: No

Property InformationPrimary source of Property Information: Tax records Projected Market Rent(Monthly): 7500

Type of Ownership:

Property DescriptionProperty Location Suburban

Property Zoned Commercial: retail

Current Use Conforming

Approximate Lot Size 1.03

Year Built 1988

Type of Heating and Cooling

# of Energy Efficient Items

Quality of Construction

Age typical for area? Yes

Architectural Style Other

Style's Market Appeal Good

Style typical for area? Yes

Ext. Bldg. Material Brick,

sGarage Type cars

Approximate Above Grade Living Area

7375 sq.ft.

Total # Above Grade Rooms

1

Above Grade Rooms Beds / Baths: 0 / 0 . 0 Other

Below grade rooms adding value

There are no below grade rooms.

Basement Type Slab/None, Sq.ft.: % finished:

Other Amenities

Market ConditionsMarket area local economy

Stable

Market area employment

Stable

ConditionAre there any visible or known problems?

No problems noted

Overall RatingsGeneral condition Good Attractive commercial building.

Exterior appeal Good Brick, metal and glass exterior. Good appeal.

Lot Characteristics Avg Just over an acre of land that is near 100% asphalt and concrete.

View Avg Other commercial, business usage.

Location Avg Suburban retail area on a major area road.

MarketabilityLocation factors adding to marketability/value

The subject is marketable and may have other usages contained within it's current zoning. There is a limited supply of like building in the area. The location is near shopping and within the populated area of Park Layne/New Carlisle.

Neighborhood value trend: Monthly rate (%) change: # months of trend:

Stable

Number of competing listings in subject’s zip code that are REO or Corporate owned

0

Owner occupied % in zip 75

Location factors detracting marketability/value

High-tension wires: No Boarded-up homes: No answer Commercial uses: Yes Railroad tracks: No Freeway/highway: No Airport/flight path: No

Market area property inventory

In Balance

Will new construction in area affect resale

No

Average marketing time

225

Sale Price range for property type in the last 3 months in zip

$600,000 - $925,000

List Price range for property type in zip

$600,000 - $925,000

Absorption Rate

Comments There are very few comparables available. The commercial sales market is very slow.

Waste facilities: No Vandalism Risk: Low

Located in Slide area: No Flood plain: No Earthquake zone: No

Most likely buyer? Investor

New construction affects market ability of subject

No

Describe any economic obsolescence

No economic obsolescence noted.

Describe any functional obsolescence

No Functional obsolescence noted.

Describe in detail subject property, exterior condition and neighborhoodThe subject is a 7,375 sqft structure that is currently used as a pizza restaurant/sports bar with a drive thru on the north side of the building. The building was open for customers at the time of the inspection. There is likely a liquor licence issued to the owner to sell alcohol. The front of the building offers a fenced in patio for exterior dining. The rear of the property is paved asphalt for parking. There was no visible address number on the structure to confirm the address. Positive ID was made by the photo of the property displayed on the Clark County Website. Value adjustments where made to comparables base on usage type, immediate area economic strength, age, size, and income potential. The subject property is considered to be very marketable given it's size, usage availability and amenities.

Competitive Listings

2015 S Dayton Lakeview Rd , New Carlisle, OH 45344 Loan #: JTS: 1013.038 Debtor: Yogi Narayan LLC Property Type: Commercial: mixed use



Item Subject Listing #1 Listing #2 Listing #3

Address View: Satellite

2015 S Dayton Lakeview Rd New Carlisle, OH 45344

526 Legion Ln. 1 Fairborn, OH 45324

1101 Lake Ave 1 New Carlisle, OH 45344

626 National Rd. 1 Vandalia, OH 45377

Estimated / Calculated Proximity to Subject (in miles) 7 / 4.94 4 / 3.95 5 / 11.14 Original List Price $635,000 $660,000 $890,000 Current List Price $499,900 $660,000 $890,000 Days Since Last Price Change -193 35 598 Original List Date 7/14/2017 3/17/2017 2/16/2015Primary Property Information Source Tax records MLS MLS MLS

Property Type Commercial: mixed use

Commercial: mixed use



Property Style Other Other Other Other

Building Material Brick Brick Wood Other Brick Wood Stone Other Brick Wood Other

Days on Market 278 32 795 Lot Size (in acres) 1.03 1.25 4 2.12 Car Storage Type Year Built 1988 1964 1995 1963 # Above-Grade Rooms 1 1 1 28 Bedrooms/Baths 0 / 0.0 0 / 0.0 0 / 0.0 0 / 0.0

BasementType:Slab/None Sq.ft.: % finished:

Type:Slab/None Sq.ft.: % finished:



Approximate Above-Grade Living Area 7375 14705 10000 11000

Other amenities Detracting Factors Commercial uses, None noted None noted Freeway/highway, Overall Condition Good Avg Avg Avg REO/Short Sale? Fair Market Fair Market Fair Market

Description Listing #1

Currently used as an American Legion, a private club. There is seating for 280 and parking for 105 vehicles. There are other uses covered under the current zoning. This building is larger than the subject however the subject is in a better location and is in better condition.

Description Listing #2

THe structure is vacant and was last used as a church. The City is offering to work a new owner to change the zoning if needed however the current zoning does allow for most commercial usages. The current interior configuration limits the desirability given the likely updates needed to convert usage.

Description Listing #3 Attractive 2.12 acre lot in a prosperous business/retail area. Close to Hwy was used as a church. 1 acre parking lot. The seller may consider some assitance with financing.

Subject Property As Is Repaired

Sales Price $720,000 $720,000

Suggested List Price $749,900 $749,900

30 Day Quick Sale $550,000

Comparable Sales

2015 S Dayton Lakeview Rd , New Carlisle, OH 45344 Loan# JTS: 1013.038 Debtor: Yogi Narayan LLC


Item Subject Sale #1 Sale #2 Sale #3

Address View: Satellite

2015 S Dayton Lakeview Rd New Carlisle, OH 45344

4265 Gibson Dr. 1 Bethel Twp., OH 45371

8929 Kingsridge Dr. 1 Dayton, OH 45458

5 Sycamore Creek 1 Springboro, OH 45066

Estimated / Calculated Proximity to Subject (in miles) 4.9 / 6.38 18 / 21.56 24.7 / 25.95 Original List Price $410,000 $750,000 $925,000 Final List Price N/A $410,000 $699,900 $925,000 Sales Price N/A $410,000 $600,000 $925,000 Original List Date 5/15/2016 11/14/2014 5/18/2016Under Contract Date N/A 9/4/2016 6/28/2016 4/5/2017 Closing Date N/A 11/16/2016 6/28/2016 4/17/2017 Primary Property Information Source Tax records MLS MLS MLS

Property Type Commercial: mixed use


Commercial: mixed use Commercial: office

Property Style Other Other Other Other

Building Material Brick Brick Wood Stone Other Wood Stone Other Brick Wood Stone

Days on Market 187 592 334 Lot Size (in acres) 1.03 1.44 1.21 1.98 Car Storage Type Year Built 1988 1975 1997 1995 # Above-Grade Rooms 1 1 1 1 Bedrooms/Baths 0 / 0.0 0 / 0.0 0 / 0.0 0 / 0.0

BasementType:Slab/None Sq.ft.: % finished:




Approximate Above-Grade Living Area 7375 10400 17290 7167

Other amenities Detracting Factors Commercial uses, None noted None noted None noted Overall Condition Good Fair Avg Avg REO/Short Sale/Fair Market? Fair Market Fair Market Fair Market Description Sale #1 Industrial usage with many other usages available. The owner provided financing. Description Sale #2 Retail space with warehouse space. Larger structure with less potential. Description Sale #3 Office space in a similar suburban location. Similar size, age and overall condition.

Subject Property As Is Repaired

Sales Price $720,000 $720,000

Suggested List Price $749,900 $749,900

30 Day Quick Sale $550,000

Competitive Listings 2015 S Dayton Lakeview Rd , New Carlisle, OH 45344 Square footage: 7375 sq.ft. Suggested List Price: $749,900 Projected Sale Price: $720,000 Estimated market time: 225 days

Listing #1

Comp address: 526 Legion Ln. 1 Fairborn, OH 45324

Estimated Miles from Subject: 7

Square footage: 14705 sq.ft.

Original List Price: $635,000

Current List Price: $499,900

Days on Market: 278

Listing #2

Comp address: 1101 Lake Ave 1 New Carlisle, OH 45344





Days on Market: 32

Listing #3

Comp address: 626 National Rd. 1 Vandalia, OH 45377





Days on Market: 795

Comparable Sales 2015 S Dayton Lakeview Rd , New Carlisle, OH 45344 Square footage: 7375 sq.ft. Suggested List Price: $749,900 Projected Sale Price: $720,000 Estimated market time: 225 days

Sale #1

Comp address: 4265 Gibson Dr. 1 Bethel Twp., OH 45371

Estimated Miles from Subject: 4.9



Sales Price: $410,000

Closing Date: 11/16/2016

Days on Market: 187

Sale #2

Comp address: 8929 Kingsridge Dr. 1 Dayton, OH 45458






Days on Market: 592

Sale #3

Comp address: 5 Sycamore Creek 1 Springboro, OH 45066

Estimated Miles from Subject: 24.7





Days on Market: 334

MAP View




Additional Subject Photos




Street View

Exterior Side View

Exterior Side View

Rear View

View to Street

Address Numbers Closeup

Summary




Summary of Days On Market #1 #2 #3 Average

Competitive Listings 278 32 795 368.33

Comparable Sales 187 592 334 371.00

Agent's estimated marketing time for subject as is: 225

Summary of Price/Sq.ft. #1 #2 #3 Subject pricing as is

Competitive Listings 34.00 66.00 80.91 101.68 listing price

Comparable Sales 39.42 34.70 129.06 97.63 selling price

Summary of Listing/Sale Prices #1 #2 #3 Average

Competitive Listings 499,900 660,000 890,000 683,300

Comparable Sales 410,000 600,000 925,000 645,000

Agent's estimated selling price for subject as is: 720,000

Exceptions: 0

Competitive Listings#1 #2 #3

None None None

Comparable Sales#1 #2 #3

None None None

Valuation # 4940399 - Exceleras · Description Sale #3 Office space in a similar suburban location. Similar size, age and overall condition.€ Subject Property As Is Repaired Sales

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