RENT-A-CENTER & AUBUCHON HARDWARE

Actual Property

32 Clinton Street Gouverneur, NY 13642 Confidentiality and Disclaimer

Marcus & Millichap hereby advises all prospective purchasers of Net including the likelihood of locating a replacement tenant if the current M&M, its affiliates or subsidiaries, or any agent, product, service, or Leased property as follows: tenant should default or abandon the property, and the lease terms commercial listing of M&M, and is solely included for the purpose of that Buyer may be able to negotiate with a potential replacement providing tenant lessee information about this listing to prospective The information contained in this Marketing Brochure has been tenant considering the location of the property, and Buyer’s legal customers. obtained from sources we believe to be reliable. However, Marcus & ability to make alternate use of the property. Millichap has not and will not verify any of this information, nor has By accepting this Marketing Brochure you agree to release Marcus & ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. Marcus & Millichap conducted any investigation regarding these Millichap Real Estate Investment Services and hold it harmless from PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR matters. Marcus & Millichap makes no guarantee, warranty or any kind of claim, cost, expense, or liability arising out of your MORE DETAILS. representation whatsoever about the accuracy or completeness of investigation and/or purchase of this net leased property. any information provided. SPEICAL COVID-19 NOTICE CONFIDENTIALITY AND DISCLAIMER As the Buyer of a net leased property, it is the Buyer’s responsibility All potential buyers are strongly advised to take advantage of their to independently confirm the accuracy and completeness of all The information contained in the following Marketing Brochure is opportunities and obligations to conduct thorough due diligence and material information before completing any purchase. This Marketing proprietary and strictly confidential. It is intended to be reviewed only seek expert opinions as they may deem necessary, especially given Brochure is not a substitute for your thorough due diligence by the party receiving it from Marcus & Millichap and should not be the unpredictable changes resulting from the continuing COVID-19 investigation of this investment opportunity. Marcus & Millichap made available to any other person or entity without the written pandemic. Marcus & Millichap has not been retained to perform, and expressly denies any obligation to conduct a due diligence consent of Marcus & Millichap. This Marketing Brochure has been cannot conduct, due diligence on behalf of any prospective purchaser. examination of this Property for Buyer. prepared to provide summary, unverified information to prospective Marcus & Millichap’s principal expertise is in marketing investment purchasers, and to establish only a preliminary level of interest in the properties and acting as intermediaries between buyers and sellers. Any projections, opinions, assumptions or estimates used in this subject property. The information contained herein is not a substitute Marcus & Millichap and its investment professionals cannot and will Marketing Brochure are for example only and do not represent the for a thorough due diligence investigation. Marcus & Millichap has not not act as lawyers, accountants, contractors, or engineers. All current or future performance of this property. The value of a net made any investigation, and makes no warranty or representation, potential buyers are admonished and advised to engage other leased property to you depends on factors that should be evaluated with respect to the income or expenses for the subject property, the professionals on legal issues, tax, regulatory, financial, and by you and your tax, financial and legal advisors. future projected financial performance of the property, the size and accounting matters, and for questions involving the property’s square footage of the property and improvements, the presence or physical condition or financial outlook. Projections and pro forma Buyer and Buyer’s tax, financial, legal, and construction advisors absence of contaminating substances, PCB’s or asbestos, the financial statements are not guarantees and, given the potential should conduct a careful, independent investigation of any net leased compliance with State and Federal regulations, the physical condition volatility created by COVID-19, all potential buyers should be property to determine to your satisfaction with the suitability of the of the improvements thereon, or the financial condition or business comfortable with and rely solely on their own projections, analyses, property for your needs. prospects of any tenant, or any tenant’s plans or intentions to and decision-making.) continue its occupancy of the subject property. The information Like all real estate investments, this investment carries significant contained in this Marketing Brochure has been obtained from sources risks. Buyer and Buyer’s legal and financial advisors must request we believe to be reliable; however, Marcus & Millichap has not and carefully review all legal and financial documents related to the verified, and will not verify, any of the information contained herein, property and tenant. While the tenant’s past performance at this or nor has Marcus & Millichap conducted any investigation regarding other locations is an important consideration, it is not a guarantee of these matters and makes no warranty or representation whatsoever future success. Similarly, the lease rate for some properties, including regarding the accuracy or completeness of the information provided. newly-constructed facilities or newly-acquired locations, may be set All potential buyers must take appropriate measures to verify all of the based on a tenant’s projected sales with little or no record of actual information set forth herein. performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease NON-ENDORSEMENT NOTICE 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 Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) is market, economic, environmental or other conditions. Regardless of not affiliated with, sponsored by, or endorsed by any commercial tenant history and lease guarantees, Buyer is responsible for tenant or lessee identified in this marketing package. The presence of conducting his/her own investigation of all matters affecting the any corporation’s logo or name is not intended to indicate or imply intrinsic value of the property and the value of any long-term lease, affiliation with, or sponsorship or endorsement by, said corporation of Investment Highlights PRICE: $828,056 | CAP: 10.00% | NOI: $82,806

About the Investments The Offering ✓ Gouverneur, Purchase Price $828,056 ✓ Very Low Rent Location (Tenants Paying a Blended $4.44 CAP Rate 10.00% PSF) Annual NOI $82,806 ✓ Long Term Tenancy ✓ Rent-A-Center has Operated Here Since 1996 | Blended Price / SF $42.14 Tenant has Exercised Multiple Renewal Options Blended NOI / SF $4.44 ✓ Aubuchon Hardware has Operated Here Since 1998 | Tenant has Exercised Multiple Renewal Gouverneur, NY Property Description Options Property Rent-A-Center and Aubuchon Hardware ✓ Convenient Location in Downtown Retail Area | Main Shopping Center for Town Property Address 32 Clinton St ✓ Neighboring Retailers Include Family Dollar, City, State, ZIP Gouverneur, New York 13642 Tractor Supply, Save a Lot, Dollar General, USPS, Year Built 1970 Dunkin’ Donuts, McDonald’s and 7-Eleven Building Size 19,650 SF ✓ Location is Minutes from School System and Lot Size 0.64 Acres Main Medical Center ✓ Both Tenants Recently Exercised 5-Year Lease Extensions Type of Ownership Fee Simple ✓ Two Freestanding Buildings Adjacent to One Another Can be purchased with a 2-unit portfolio of RAC/Aubuchon Hardware ✓ Upside in Renting Vacant 1,000 SF Suite Next to RAC locations in at a discounted Cap Rate, contact the Listing Agent for more information. About the Tenant / Brand ✓ Rent-A Center ✓ Incorporated in 1986, RAC Operates Nearly 3,000 Locations in the and Mexico ✓ RAC Provides New and Used Brand-Name Furniture, Appliances, Computers and Electronics ✓ Aubuchon Hardware ✓ Family-Owned and Operated Hardware Store Chain in the Northeastern United States with 105 Paint and Hardware Locations in , , , Maine, and Upstate New York

Rent-A-Center & Aubuchon – New York 3 Financial Analysis PRICE: $828,056 | CAP: 10.00% | NOI: $82,806

Gouveneurs, NY Current Year

Commercial Rents $ 102,781 Reimbursements $ 18,687 Total Income $ 121,468 Operating Expenses $ 22,764 Management Fee 5% $ 6,073 Capital Reserves ($0.50 PSF) $ 9,825 Total Expenses $ 38,662 Annual Rent $ 82,806

Lease Next Rental Gouveneurs, NY Square Feet Lease Expiration Option Periods Commencement Increase Aubuchon Hardware 12,450.00 1/1/2017 12/31/2025 2% Annual 4, Five Year Rent-A-Center 6,200.00 10/4/1996 11/30/2025 N/A None

Rent-A-Center & Aubuchon – New York 4 Concept Overview About Rent-A-Center Rent-A-Center (commonly referred to as RAC) is an American public furniture and electronics rent-to-own company based in Plano, Texas. The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, Puerto Rico, and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count. In 2014, Fortune Magazine listed Rent-A-Center at number 711 on the Fortune 1000 list of the largest U.S. corporations, based on revenues alone.

The rent-to-own business was started by Ernie Talley in Wichita, Kansas during the 1960s when he told customers of his store, Mr. T's Rental, that they had rented a washer and dryer for a long enough duration that they had paid for it in full and now owned it. Thomas Devlin, a former employee of Mr. T's rental, recognized the potential of renting name-brand products and partnered with W. Frank Barton and founded the Rent-A-Center brand in Wichita, Kansas in 1973.

RAC provides new and used brand-named furniture, appliances, computers and electronics from brands, such as Ashley Furniture, Sony, Whirlpool Corporation, Dell and HP. As part of their rent-to-own business model, Rent-A-Center generally makes its items available with small initial payments and no long-term obligations. Customers can return an item at any time, for any reason, without penalty, and also have the option to re-rent the same item and pick up the payments where they left off. Delivery, pick-up, service and repair are also included in the stated rental price. Customers can also upgrade items while they are renting—the payments will change accordingly.

5 Concept Overview

AUBUCHON HARDWARE OVERVIEW

Aubuchon Hardware is a family-owned hardware store chain in the northeastern United States consisting of 105 paint and hardware stores throughout Vermont, Massachusetts, New Hampshire, Maine, Connecticut and upstate New York. Founded by William E. Aubuchon in 1908 in Fitchburg, Massachusetts, Aubuchon Hardware is the oldest family-owned hardware store chain in America. With more than 100 stores in New England and Upstate New York, they have been a local mainstay for generations. They offer knowledgeable service on issues like window repair, screen repair, or general hardware, and they sell reputable brand items such as Benjamin Moore paint, Honda Power equipment, and Stihl power equipment. Now operating under the fourth generation of management, Aubuchon Hardware continues to adapt to an ever-changing retail environment with a relentless focus on retail innovation and customer convenience.

Rent-A-Center & Aubuchon – New York 6 Subject Property AUBUCHON HARDWARE LOCATION OVERVIEW

32 Clinton Street Gouverneur, NY 13642

Surrounding Area

GOUVERNEUR SCHOOL DISTRICT TOTAL ENROLLMENT: 1,480 STUDENTS

GOUVERNEUR HOSPITAL 25 STAFFED BEDS

10 Location Overview

This Aubuchon Hardware and Rent A Center property is situated on Clinton Street, a street which merges into William Street and has an average daily traffic count of 5,050 vehicles. Intersecting these streets is Main Street, which reports an average daily traffic count itself of over 13,120 vehicles. West Barney Street also intersects Clinton Street to the north and has its own average daily traffic count of 3,780 vehicles. 7,600 individuals reside within a five-mile radius ADTC: 3,780 and 11,700 individuals reside within a ten-mile radius.

The subject property is centrally located in town amongst tenants including Save A Lot, Dollar General, Family Dollar, Dunkin Donuts, McDonald’s, Sunoco, 7-Eleven, Gordmans, NAPA Auto Parts, and others. The subject property is a half-mile from Gouverneur’s High School, Middle School, and Elementary School, which in total have an enrollment of over 1,480 students. Additionally, this Aubuchon Hardware property is also a half-mile from Gouverneur Hospital, a local critical access hospital that is certified for 25 beds.

Gouverneur is a town near the southwest border of St. Lawrence County and is southwest of Canton, the county seat. Nestled between the foothills of the majestic Adirondack Mountains and the Thousand Islands of the St. Lawrence River, this town provides the comfort and safety of a tight-knit community with a wealth of options for work and play nearby. Named after Founding Father, statesman, and area landowner Gouverneur Morris, this town is also referred to as “Marble Village” because of the many structures made from marble and the importance of this rock in the town’s early economy. Currently, the largest ADTC: 5,050 industries in Gouverneur are retail trade, educational services, and public administration. The town sits just over one hundred miles from Syracuse to its southwest. ADTC: 13,120

11 Local Map

Burlington International Airport (BTV)

Albany International Airport (ALB) Syracuse Hancock International Airport (SYR)

12 Regional Map

NEW YORK

13 Demographics

3 Miles 5 Miles 10 Miles POPULATION TRENDS 2010 Population 6,926 8,000 12,314 2021 Population 6,586 7,632 11,763 10 Miles 2026 Population Projection 6,499 7,537 11,617 Growth 2010 – 2021 -0.40% -0.40% -0.40% Growth 2021 – 2026 -0.30% -0.20% -0.20% POPULATION BY RACE (2020) White 5,714 6,689 10,741 5 Miles Black 696 749 765 American Indian/Alaskan Native 32 36 49 Asian 41 46 53 3 Miles Hawaiian & Pacific Islander 8 8 10 Two or More Races 94 104 146 Hispanic Origin 366 402 45 HOUSEHOLD TRENDS 2010 Households 2,431 2,824 4,448 2021 Households 2,289 2,669 4,219 2026 Household Projection 2,251 2,627 4,154 Growth 2010 – 2021 0.10% 0.10% 0.10% Growth 2021 – 2026 -0.30% -0.30% -0.30% AVERAGE HOUSEHOLD INCOME (2021) $57,171 $58,380 $61,808 MEDIAN HOUSEHOLD INCOME (2021) $35,983 $36,894 $39,730 HOUSEHOLDS BY HOUSEHOLD INCOME (2021) <$25,000 801 904 1,282 $25,000 - $50,000 664 766 1,154 $50,000 - $75,000 229 287 578 $75,000 - $100,000 286 331 478 $100,000 - $125,000 106 128 273 $125,000 - $150,000 11 20 85 $150,000 - $200,000 133 164 259 $200,000+ 60 69 110

14 Market Overview

Syracuse, NY Syracuse is the fifth most populous city in New York and the county seat of Onondaga County. Syracuse is the economic and educational hub of Central New York, a region with over one million inhabitants. The city also has the largest airport in the region. Additionally, it acts as a major crossroads between the greater parts of western and eastern New York State thanks to its railway system, the intersection of Interstates 81 and 90, and even the Erie Canal in time’s past. The city is home to Syracuse University, the State University of New York Upstate Medical University, SUNY College of Environmental Science & Forestry, and Le Moyne College. These colleges altogether have enrollments amounting to over 30,000 students.

Formerly a manufacturing center, Syracuse’s top employers now are primarily in higher education, research, health care, services, and some forms of high- tech manufacturing. The top employers in the Syracuse region are the State University of New York Upstate Medical University, St Joseph’s Hospital Health Center, Syracuse University, Lockheed Martin Corporation, Wegmans Food Markets, Northwell Health, National Grid USA, and Bristol-Myers Squibb. The city’s fastest growing neighborhood is University Hill, which has been fueled by expansions by Syracuse University and the Upstate Medical University. This neighborhood has also been named one of America’s Top Ten Neighborhoods by the American Planning Association. Additionally, Syracuse has been named one of America’s greenest cities by Popular Science. Despite historically having issues with population decline, this city has found itself a favorite for millennials, as the downtown area has seen a 70% increase in population over the last decade. The expanding job opportunities in the fields of healthcare and higher education are making this city a place that people will want to be in the coming years.

15 EXCLUSIVE NET-LEASE OFFERING

NY Broker of Record John Krueger BOR: Lic.# 10311205789