FAMOUS DAVE’S Taylor, 23811 Eureka Road, Taylor, Michigan 48140 FAMOUS DAVE’S | TAYLOR, MICHIGAN

ON MARKET: FAMOUS DAVE’S IN TAYLOR, MICHIGAN

INVESTMENT HIGHLIGHTS

 Rare 20 Year, Absolute Net Lease Commencing at Close of Escrow  Pad Site To 238,712 Square Foot Hobby Lobby Anchored Center Zero Landlord Responsibilities Highly Visible Along Eureka Road Corridor –More than 40,000 Vehicles Per Day  Strong Unit Level Financials  Strong Demographics Site Performance Significantly Above National Average More than 179,000 Residents within Five Miles  Ideally Located Eight Miles from Metropolitan Wayne  Famous Dave’s Sale-Leaseback in Taylor, MI County Airport 20 Miles South of 34.7 Million Passengers In 2017  Additional National Tenants in Vicinity Include: Taco Bell,  Strong Hedge Against Inflation Walgreens, Tim Hortons, Starbucks, Best Buy, Hobby Lobby, Meijer, 1.5% Rent Bumps Every Year Cinemark, Target, Autozone, And Many More  Dense Retail Corridor More Than 1 Million Square Feet of Retail within a Mile 2 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. FAMOUS DAVE’S | TAYLOR, MICHIGAN

23811 EUREKA ROAD FINANCIAL OVERVIEW TAYLOR, MICHIGAN 48140

PRICE $4,285,714

CAP RATE 7.00%

NOI $300,000

PRICE PER SQUARE FOOT $620.13

RENT PER SQUARE FOOT $43.41 ANNUALIZED OPERATING DATA YEAR BUILT 2005 BASE RENT ANNUAL RENT MONTHLY RENT YEAR 1 $300,000.00 $25,000.00 1.50% YEAR 2 $304,500.00 $25,375.00 1.50% APPROXIMATE LOT SIZE 2.83 Acres YEAR 3 $309,067.50 $25,755.63 1.50% YEAR 4 $313,703.51 $26,141.96 1.50% YEAR 5 $318,409.07 $26,534.09 1.50% GROSS LEASEABLE AREA 6,911 Square Feet YEAR 6 $323,185.20 $26,932.10 1.50% YEAR 7 $328,032.98 $27,336.08 1.50% YEAR 8 $332,953.47 $27,746.12 1.50% YEAR 9 $337,947.78 $28,162.31 1.50% TYPE OF OWNERSHIP Fee Simple YEAR 10 $343,016.99 $28,584.75 1.50% YEAR 11 $348,162.25 $29,013.52 1.50% YEAR 12 $353,384.68 $29,448.72 1.50% LEASE GUARANTOR Blue Ribbon Restaurants Novi, LLC YEAR 13 $358,685.45 $29,890.45 1.50% YEAR 14 $364,065.73 $30,338.81 1.50% YEAR 15 $369,526.72 $30,793.89 1.50% LEASE TYPE Absolute Net YEAR 16 $375,069.62 $31,255.80 1.50% YEAR 17 $380,695.66 $31,724.64 1.50% YEAR 18 $386,406.10 $32,200.51 1.50% ROOF AND STRUCTURE Tenant Responsible YEAR 19 $392,202.19 $32,683.52 1.50% YEAR 20 $398,085.22 $33,173.77 1.50% 3 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. FAMOUS DAVE’S - Taylor, Michigan FAMOUS DAVE’S | TAYLOR, MICHIGAN

LEASE SUMMARY

LEASE COMMENCEMENT DATE Close of Escrow

LEASE EXPIRATION DATE 20 Years Following COE

LEASE TERM 20 Years

TERM REMAINING 20 Years

INCREASES 1.5% Every Year

OPTIONS TO RENEW 4, 5-Year

OPTIONS TO TERMINATE None

5 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. FAMOUS DAVE’S | TAYLOR, MICHIGAN

TENANT OVERVIEW

Famous Dave’s of America is a chain of barbecue restaurants serving pork ribs, chicken, beef brisket and several flavors of barbeque sauce. Dave Anderson opened the First Famous Dave’s restaurant near Hayward, Wisconsin in 1994 and today there are approximately 133 restaurants throughout the U.S and Puerto Rico. Blue Ribbon Restaurants Novi, LLC opened their first franchised Famous Dave’s restaurant in 2004 and are one of the top rated and most successful franchisees. They have four restaurants in and one restaurant in Cleveland and their average unit volumes and profits have consistently been well above the Famous Dave’s national average. They are also currently looking into additional sites in Cleveland and would like to have three or four more restaurants there in the next few years. They have been awarded Restaurant of the Year ten times and Franchisee of the Year three times amongst their many awards. They are also continuously awarded as Detroit’s and Cleveland’s Best BBQ. Blue Ribbon Restaurants Novi, LLC is family owned and their success in Detroit and Cleveland has allowed the family to purchase five Famous Dave’s restaurants in Chicago under Windy City Restaurant Holdings LLC, Four Famous Dave’s in Maryland under Capital Blue Ribbon Restaurants LLC and four restaurants in Virginia under Commonwealth Blue Ribbon restaurants LLC. The mission: Be Famous. Be Real. Kick Butt. Have Fun. TENANT PROFILE TENANT TRADE NAME Famous Dave’s

OWNERSHIP Private

TENANT Famous Dave’s

LEASE GUARANTOR Blue Ribbon Restaurants Novi, LLC

NUMBER OF LOCATIONS 5 Locations

HEADQUARTERED Metro Detroit 6 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. FAMOUS DAVE’S | TAYLOR, MICHIGAN

ABOUT TAYLOR

Taylor is a city in Wayne County, Michigan. Originally known as Taylor , its residents voted to incorporate it as the City of Taylor in May 1968. It is the 17th most populous city in Michigan. Taylor is a member of the Downriver Community. It is home to Southland Shopping Center, Wallside Windows Factory, Taylor Sportsplex, Taylor Meadows Golf Course, Lakes of Taylor Golf Course, Beaumont (Oakwood Heritage) Hospital, the Michigan State Police Metro South Post and Wayne County Community College Downriver Campus. It is the birthplace of Hungry Howie’s Pizza. Taylor’s large municipal park, Heritage Park, features ball diamonds, soccer fields, pavilions, barbeque grills, picnic tables, restrooms, a playground, historic buildings, shops, a catch-and-release fishing pond, a 1/3-mile walking path and path system, an old-growth nature area, park benches, a picnic area, a playground and a petting farm. Southland Shopping Center, a regional shopping mall with over 100 stores, was opened in 1970 at Eureka Road and Pardee Road. Macy’s, JCPenney, Best Buy, Forever 21, Shoe Carnival, and Ulta stores serve as anchors. In addition to Southland Center, the city also features a Walmart superstore, Target superstore, Meijer superstore, Kohl’s, Burlington Coat Factory, Dick’s Sporting Goods, Jo-Ann, Bed, Bath, and Beyond, Kmart, Kroger, and two Home Depot locations, among many others. In 2014, it was announced that the 80-acre property located at Eureka Road and I-75 which previously held the Gibraltar Trade Center would be redeveloped into a Menards as well as six other retail big box stores.

7 This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 1-Mile 3-Mile 5-Mile 2018 Average HH 2010 Population 4,999 51,066 184,457 2010 Households 2,102 20,301 73,868 $51,426 $61,283 $67,799 Income 2018 Median HH 2018 Population 4,973 49,438 179,074 2018 Households 2,090 19,699 71,793 $41,800 $44,842 $54,010 Income 2018 Per Capita 2023 Population 4,947 48,903 177,236 2023 Households 2,079 19,498 71,066 $21,613 $24,419 $27,181 Income BROKER HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF NET LEASED PROPERTY AS FOLLOWS:

The 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 Broker and should not be made available to any other person or entity without the written consent of Broker.

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. Broker 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, Broker has not verified, and will not verify, any of the information contained herein, nor has Broker 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.

NON-ENDORSEMENT NOTICE

Broker 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 Broker, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Broker, 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 BROKER AGENT FOR MORE DETAILS. EXCLUSIVELY LISTED BY:

AARON BAUM LICENSED REAL ESTATE SALESPERSON [email protected] t. 646.809.8834 LICENSE #: 10401279115 (NY)

IN CONJUNCTION WITH

BROKER OF RECORD Aaron Eichenberg NorthStar Commercial, LLC License #: 6501359351 (MI)