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Red Lobster EXCLUSIVE NET - LEASE OFFERING

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Red Lobster EXCLUSIVE NET - LEASE OFFERING Representative Photo Red Lobster EXCLUSIVE NET - LEASE OFFERING OFFERING MEMORANDUM 721 US 27 North, Sebring, FL 33870 Confidentiality and Disclaimer Marcus & Millichap hereby advises all prospective purchasers of and lease guarantees, Buyer is responsible for conducting his/her NON-ENDORSEMENT NOTICE Net Leased property as follows: own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the Marcus & Millichap Real Estate Investment Services, Inc. (“M&M”) The information contained in this Marketing Brochure has been likelihood of locating a replacement tenant if the current tenant is not affiliated with, sponsored by, or endorsed by any obtained from sources we believe to be reliable. However, Marcus should default or abandon the property, and the lease terms that commercial tenant or lessee identified in this marketing package. & Millichap has not and will not verify any of this information, nor Buyer may be able to negotiate with a potential replacement The presence of any corporation’s logo or name is not intended to has Marcus & Millichap conducted any investigation regarding tenant considering the location of the property, and Buyer’s legal indicate or imply affiliation with, or sponsorship or endorsement these matters. Marcus & Millichap makes no guarantee, warranty ability to make alternate use of the property. by, said corporation of M&M, its affiliates or subsidiaries, or any or representation whatsoever about the accuracy or completeness By accepting this Marketing Brochure you agree to release Marcus agent, product, service, or commercial listing of M&M, and is of any information provided. & Millichap Real Estate Investment Services and hold it harmless solely included for the purpose of providing tenant lessee from any kind of claim, cost, expense, or liability arising out of information about this listing to prospective customers. As the Buyer of a net leased property, it is the Buyer’s your investigation and/or purchase of this net leased property. responsibility to independently confirm the accuracy and ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE completeness of all material information before completing any CONFIDENTIALITY AND DISCLAIMER CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE purchase. This Marketing Brochure is not a substitute for your DETAILS. thorough due diligence investigation of this investment The information contained in the following Marketing Brochure is ZAB0330921 opportunity. Marcus & Millichap expressly denies any obligation proprietary and strictly confidential. It is intended to be reviewed SPECIAL COVID-19 NOTICE to conduct a due diligence examination of this Property for Buyer. only by the party receiving it from Marcus & Millichap and should All potential buyers are strongly advised to take advantage of not be made available to any other person or entity without the their opportunities and obligations to conduct thorough due Any projections, opinions, assumptions or estimates used in this written consent of Marcus & Millichap. This Marketing Brochure diligence and seek expert opinions as they may deem necessary, Marketing Brochure are for example only and do not represent has been prepared to provide summary, unverified information to especially given the unpredictable changes resulting from the the current or future performance of this property. The value of a prospective purchasers, and to establish only a preliminary level continuing COVID-19 pandemic. Marcus & Millichap has not been net leased property to you depends on factors that should be of interest in the subject property. The information contained retained to perform, and cannot conduct, due diligence on behalf evaluated by you and your tax, financial and legal advisors. herein is not a substitute for a thorough due diligence of any prospective purchaser. Marcus & Millichap’s principal investigation. Marcus & Millichap has not made any investigation, expertise is in marketing investment properties and acting as Buyer and Buyer’s tax, financial, legal, and construction advisors and makes no warranty or representation, with respect to the intermediaries between buyers and sellers. Marcus & Millichap should conduct a careful, independent investigation of any net income or expenses for the subject property, the future projected and its investment professionals cannot and will not act as leased property to determine to your satisfaction with the financial performance of the property, the size and square footage lawyers, accountants, contractors, or engineers. All potential suitability of the property for your needs. of the property and improvements, the presence or absence of buyers are admonished and advised to engage other contaminating substances, PCB’s or asbestos, the compliance with professionals on legal issues, tax, regulatory, financial, and Like all real estate investments, this investment carries significant State and Federal regulations, the physical condition of the accounting matters, and for questions involving the property’s risks. Buyer and Buyer’s legal and financial advisors must request improvements thereon, or the financial condition or business physical condition or financial outlook. Projections and pro forma and carefully review all legal and financial documents related to prospects of any tenant, or any tenant’s plans or intentions to financial statements are not guarantees and, given the potential the property and tenant. While the tenant’s past performance at continue its occupancy of the subject property. The information volatility created by COVID-19, all potential buyers should be this or other locations is an important consideration, it is not a contained in this Marketing Brochure has been obtained from comfortable with and rely solely on their own projections, guarantee of future success. Similarly, the lease rate for some sources we believe to be reliable; however, Marcus & Millichap analyses, and decision-making. properties, including newly-constructed facilities or newly- has not verified, and will not verify, any of the information acquired locations, may be set based on a tenant’s projected sales contained herein, nor has Marcus & Millichap conducted any 721 US 27 North, with little or no record of actual performance, or comparable investigation regarding these matters and makes no warranty or Sebring, FL 33870 rents for the area. Returns are not guaranteed; the tenant and any representation whatsoever regarding the accuracy or guarantors may fail to pay the lease rent or property taxes, or may completeness of the information provided. All potential buyers fail to comply with other material terms of the lease; cash flow must take appropriate measures to verify all of the information may be interrupted in part or in whole due to market, economic, set forth herein. environmental or other conditions. Regardless of tenant history Table of Contents Investment Highlights 4 Financial Analysis 5 Concept Overview 6-12 Surrounding Area 13 Location Overview 14 Local Map 15 Regional Map 16 Demographics 17 Market Overview 18 Representative Photo Investment Highlights PRICE: $4,598,258 | CAP: 6.00% | RENT: $275,895 About the Investment ✓ Long-Term, Absolute Triple-Net (NNN) Lease with Approximately 23 Years Remaining on the Base Term ✓ Corporate Tenant | Corporate Guaranty ✓ Attractive Rental Increases of Two Percent (2.00%) Annually ✓ Four (4), Five (5)-Year Tenant Renewal Options About the Location ✓ Dense Retail Corridor | Walmart, Home Depot, Lowe’s, Aaron’s, Marshalls, Ross Dress for Less, Office Depot, Olive Garden, Chili's, Outback Steakhouse, Ihop, McDonald’s, Wendy’s, Burger King, Taco Bell and Many More ✓ Heavily Trafficked Area | US 27 North| Average Daily Traffic Counts Exceeding 36,500 Vehicles ✓ Multiple Hospitality Accommodations | Tru By Hilton, Inn on the Lakes, Holiday Inn Express, Residence Inn by Marriot, La Quinta Inn and Suites and More ✓ Strong Visibility and Ease of Access Along US 27 North ✓ Multiple Academic Institutions | Sebring High School | Approximately Four Miles from Subject Red Lobster | Over 1,500 Students Enrolled ✓ Highlands Regional Medical Facility | 126 Staffed Beds | Approximately Four Miles from Subject Red Lobster About the Tenant / Brand ✓ Red Lobster is the largest seafood restaurant concept in the world and is an iconic full- service brand with broad demographic appeal and a significant advertising budget (2nd- largest in casual dining) ✓ The Company was founded in 1968 and currently operates over 700 restaurants throughout the United States and Canada, and has more than 40 franchised restaurants in international markets ✓ Red Lobster is led by an experienced management team with a history of success leading the brand (average 27+ years experience across executive team) ✓ The company generates $2.5B in revenue and is the 6th-largest casual dining concept in North America ✓ Recently acquired by an investment group led by Thai Union Group, one of the worlds largest seafood distributors Red Lobster 4 Financial Analysis PRICE: $4,598,258 | CAP: 6.00% | RENT: $275,895 PROPERTY DESCRIPTION RENT SCHEDULE Property Red Lobster Lease Year Annual Rent Monthly Rent Rent Escalation Current $275,895 $22,991 - Property Address 721 US 27 North Year 9 $281,413 $23,451 2.00% City, State ZIP Sebring, FL 33870 Year 10 $287,041 $23,920 2.00% Year Built / Renovated 1992 / 2003 Year 11 $292,782 $24,398 2.00% Year 12 $298,638 $24,886 2.00% Building Size (SF) 6,567 Year 13 $304,610 $25,384 2.00%
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