Offering Memorandum Starbucks NNN Lease 6124 S 35Th Ave, Phoenix, AZ 85041

Starbucks 6124 S 35th Ave, Phoenix, AZ NNN Lease

Offering Memorandum Starbucks NNN Lease 6124 S 35th Ave, Phoenix, AZ 85041

TABLE OF CONTENTS

• Pricing and Financial Analysis • Property Description • Aerials Absolute NNN Lease • Site Plans • Elevations • Property Photos • Demographic Information • Net Leased Disclaimer & Confidentiality

THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS AND SHOULD NOT BE CONSIDERED AN APPRAISAL. 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. Starbucks NNN Lease 6124 S 35th Ave, Phoenix, AZ 85041 Offering Terms: Purchase Price - $3,350,000 NOI - $142,000 CAP Rate – 4.24%

FINANCIAL SUMMARY

Tenant Summary Price $3,350,000

Down Payment 100% / $3,350,000 Tenant Trade Name Starbucks

Rentable Square Feet +2,400 SF Ownership Public (SBUX)

Tenant Starbucks Corporation, a Washington corporation CAP Rate 4.24%

Lease Term 10-Year Primary Term Year Built 2021

Lease Commencement Date 04/14/2021 Type of Ownership Fee Simple

Lease Expiration Date 04/30/2031 Annualized Operating Data Increases 10% Increases Every 5 Years Annual Rent Monthly Rent Options Four, 5-Year Options with 10% Increases Every 5 Years Base Rent Years 1-5 $142,000 $11,833.33 Property Building sits on +35,884 square foot parcel; Owner Expenses: NONE $142,000 Net Operating Income

Capital Reserves $0

Total Return 4.24% / $142,000

PROPERTY DESCRIPTION

 +2,400 SF Starbucks restaurant with drive-thru operating within a Walmart Supercenter anchored neighborhood shopping center in Phoenix, Arizona

th  Located south of the SWC 35 Avenue & Southern Avenue, with existing commercial developments on all 4 corners (including national retailers/users such at Planet Fitness, Goodwill, Dollar Tree, Walgreens, Sherwin Williams and Auto Zone)

 Surrounded by dense residential neighborhoods in the Laveen Urban Village area of Phoenix, AZ

 National and regional retailers within shopping center (Walmart Supercenter, Angry Crab Shack, Sally Beauty, Jack in the Box, T-Mobile, Church’s Chicken)

th  +18,000 vehicles per day on 35 Avenue

 +18,500 vehicles per day on Southern Avenue

Yuma Road North

Site Plan

Floor Plan

PROPERTY PHOTO

REPRESENTATIVE INTERIOR PHOTOS

NET LEASED DISCLAIMER

Frontera Development, LLC (“Fontera”) hereby advises all prospective purchasers of Net Leased property as follows: CONFIDENTIALITY

The information contained in this brochure has been obtained from sources we deem to be The information contained in the following brochure is proprietary and confidential. It is reliable. However, Frontera has not and will not verify any of this information, nor has Frontera intended to be reviewed only by the party receiving it from Frontera Development, LLC conducted any investigation regarding this information. Frontera makes no guarantee, warranty, (“Frontera”) and should not be made available to any other person or entity without the written or representation whatsoever about the accuracy or completeness of any of the information consent of Frontera. This brochure has been prepared to provide summary, unverified provided. 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- As the Purchaser of a Net Leased property, it is the Purchaser's responsibility to independently diligence investigation. Frontera has not made any investigation and makes no warranty or confirm the accuracy and completeness of all material information before completing any representation with respect to the income or expenses for the subject property, the future purchase. This brochure is not a substitute for your thorough due-diligence investigation of this projected financial performance of the property, the size and square footage of the property and investment opportunity. Frontera expressly denies any obligation to conduct a due-diligence improvements, the presence or absence of contaminating substances, PCB's or asbestos, the examination of this property for Purchaser. compliance with State and Federal regulations, the physical condition of the improvements Any projections, opinions, assumptions, or estimates used in this brochure are for example only thereon, or the financial condition or business prospects of any tenant or any tenant's plans or and do not represent the current or future performance of this property. The value of a Net Leased intentions to continue its occupancy of the subject property. The information contained in this property to you depends upon factors that should be evaluated by you and your tax, financial, brochure has been obtained from sources we deem to be reliable; however, Frontera has not and legal advisors. verified and will not verify any of the information contained herein, nor has Frontera conducted any investigation regarding these matters and makes no warranty or representation whatsoever Purchaser and Purchaser's tax, financial, legal, and construction advisors should conduct a careful, regarding the accuracy or completeness of the information provided. All potential buyers must independent investigation of any net-leased property to determine the suitability of the property take appropriate means to verify all of the information set forth herein. for its needs. NON-ENDORSEMENT NOTICE As with all real-estate investments, this investment carries significant risks. Purchaser and Purchaser's legal and financial advisors must request and carefully review all legal and financial Frontera Development, LLC (“Frontera”) is not affiliated with, sponsored by, or endorsed by any documents related to the property and tenant. While the tenant's past performance at this or other commercial tenant or lessee identified in this brochure. The presence of any corporation's logo locations is an important consideration, it is not a guarantee of future success. Similarly, the lease or name is not intended to indicate or imply affiliation with or sponsorship or endorsement by rate for some properties, including newly constructed facilities or newly acquired locations, may said corporation of Frontera, its affiliates, or subsidiaries, or any agent, product, service, or be set based on a tenant's projected sales with little or no record of actual performance or commercial listing of Frontera, and is solely included for the purpose of providing tenant lessee comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail information about this listing to prospective customers. 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, ALL SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT LISTING AGENT FOR MORE or other conditions. Regardless of tenant's history and lease guarantees, Purchaser is responsible INFORMATION for conducting its 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 should the current tenant default or abandon the property, the lease terms that Purchase may be able to DISCLOSURE negotiate with a potential replacement tenant considering the location of the property, and the Any potential Buyer and/or Buyer’s real estate representative acknowledge that members of Purchaser's legal ability to make alternate use of the property. Frontera Development, LLC (listing Broker) and FD 35th Ave & Southern, LLC (Seller) are licensed real estate brokers in the State of Arizona and have members in common. By accepting this brochure, you agree to release Frontera and hold it harmless from any claim, cost, expense, or liability arising out of your investigation and/or purchase of this net-leased property. Starbucks NNN Lease 6124 S 35th Ave, Phoenix, AZ 85041

OFFERING MEMORANDUM

Exclusively listed by:

Steve Lenz Partner, Frontera Development, LLC 480-315-9612 (Direct) 480-315-9607 (Fax) [email protected] www.fronteradevelopment.com

Mark Holinger Partner, Frontera Development, LLC 480-315-9623 (Direct) 480-315-9607 (Fax) [email protected]