Hooters of America, LLC

$2,815,000 | 6.0% CAP 4119 LEBANON PIKE HERMITAGE, TN 37076 (NASHVILLE MSA)

RETAIL INVESTMENT GROUP, LLC SEANSEAN STEPHENSON STEPHENSON STEVENSTEVEN D ADVISAVIS JOHNJOHN C CAAVINVIN 8255 E RAINTREE DR SUITE 100, SCOTTSDALE, AZ 85260 Senior Associate Managing Member Broker of Record 480.429.4580 480.429.4580 615.210.9697 480.429.4580 480.429.4580 480.429.4580 TN #279671 250625 [email protected] [email protected] [email protected] RETAIL1031.COM [email protected] [email protected] AZ #SA672380000 AZ #BR101032000 NASHVILLE TENNESSEE

PROPERTY INFORMATION INVESTMENT HIGHLIGHTS 4119 Lebanon Pike, • Absolute NNN Lease (Zero Landlord • TN is an income tax free state Address: Hermitage, TN 37076 Responsibilities) • Store remodeled in 2016 by tenant Price: $2,815,000 • Lebanon Road: ±33,760/VPD • Populated Area w/ over ±475,000 • Old Hickory Blvd: ±33,783/VPD people within 10-mile Radius Cap Rate: 6.0% • Corporate Guarantee • Median Household Income: $65,950 | NOI: $168,873 • 4x5 Year Options Higher than National Average Building Size: ±5,051 Square Feet • 10% or 1.25 times CPI Every 5 Years • Near U.S Route 70, I-40, & SR 45 (whichever is less) • ±7 miles from Nashville Airport Land Area: ±1 Acre

Lease Expiration: 12/31/2032

Options: (4) 5-Year Options

Lessee: Hooters of America, LLC

Lease Type: Absolute NNN

The Lesser of 10% or 1.25 Increases: times CPI Every 5 Years

Guarantee: Corporate

ROFR: Ask Agent

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM NASHVILLE TENNESSEE

HOOTERS Retail Investment Group is pleased to be the exclusive listing agent for the Hooters property located in Hermitage (Nashville MSA) Tennessee. The building is ±5,051 square feet and sits on 1 Acre of land, and was remodeled by the tenant in 2016. This Hooters is in a densely populated area only ±7 miles from the Nashville International Airport. The population in a 5-mile radius is ±113,659, and ±475,460 in a 10-mile radius.

Area Generators less than ±0.5 mile away include Hobby Lobby, Waffle House, Zaxby's, Big Lots, Advance Auto Parts, Goodwill, Lowe's, Chili's, Steak 'n Shake, The Home Depot, IHOP, Sprint, Lowe's, Firestone Auto, Famous Dave's, Pizza Hut, McDonald's, and Hermitage Shopping Center, as well as many others. The property will transfer with a Corporate Absolute NNN lease which has 13+ years remaining.

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM NASHVILLE TENNESSEE

NASHVILLE TENNESSEE Nashville Tennessee is the capital of Tennessee, and also the largest city in Tennessee with a population of ±691,243 as of 2017. Aside from being home to the Grand Ole Opry, The Country Music Hall of Fame, and Vanderbuilt University, Nashville is one of the most visited cities in the nation. With over 15.2 million visitors in 2018 and $23 million in direct visitor spending in 2018, Nashville has a total of ±30,590 hotel rooms with plans of opening 20 new hotel properties in 2019. Nashville International Airport is also one of the fastest growing airports in North America. It served 16 million passengers in 2018, with 460 flights per day.

Nashville isn't only a great city to visit, but also a great place to live. With an extremely low cost of living, the average household income is $63,939, which is higher than the national average. The unemployment rate is 2.7% which is about 1.2% lower than the national average, and the expected job growth is one of the largest in the United States.

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM NASHVILLE TENNESSEE

HOOTERS Hooters was appropriately incorporated on April Fool’s Day, 1983, when six businessmen with absolutely no previous restaurant experience got together and decided to open a place they couldn’t get kicked out of. Soon after, on October 4th of that year, the doors to the first Hooters Restaurant opened in Clearwater, Florida. The now famous “Hooters Six” were: L.D. Stewart, a painting contractor; Gil DiGiannantonio, a liquor salesman; “Uncle Billy” Ranieri, a retired service station owner; Ed Droste, a real estate executive; Dennis Johnson, a brick mason by trade; and Ken Wimmer, a partner in the painting business with L.D. Out of their fertile imaginations – and more R & R than R & D – came the concept of Hooters. The restaurant would combine their favorite manly finger foods with the 50’s and 60’s music they felt best exemplified a happy, nostalgic time in most Americans’ memories.

Although fun, once opened, the pressure to succeed was intense (two of the Hooters Six were Italian). So Droste, the marketing guy, donned a chicken suit and stood in traffic waving people in the door. Shortly after the trick in the costume (and a little event known as Super Bowl), the little joint’s fame began to spread. They had a hunch, but little did the Hooters Six know how much the public yearned for a fun, casual alternative to the existing fern bars and fine dining establishments. Hooters was to become an oasis with great food. Hooters is a private company that is owned by a consortium of PE companies HIG Capital, Karp Reiley, and Chanticleer Holdings that acquired the chain in 2011, with 420 restaurants in 44 States and 30 Counties.

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM NASHVILLE TENNESSEE

POPULATION 1 MILE 3 MILES 5 MILES

2019 9,756 113,659 475,460

2024 (EST) 10,412 119,997 504,336

HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES

2019 $58,275 $65,169 $68,254

HOUSEHOLDS 1 MILE 3 MILES 5 MILES

NUMBER OF HH 2,458 19,207 44,026

AVG HH VALUE $151,970 $171,885 $184,145

TRAFFIC LEBANON PIKE OLD HICKORY BLVD

VPD 33,760/day 33,783/day

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM SEAN STEPHENSON STEVEN DAVIS JOHN CAVIN Senior Associate Managing Member Broker of Record 480.429.4580 480.429.4580 TN #279671 250625 [email protected] [email protected] AZ #SA672380000 AZ #BR101032000

RETAIL INVESTMENT GROUP, LLC | 8255 E RAINTREE DR SUITE 100 | SCOTTSDALE, AZ 85260 | 480.429.4580 | RETAIL1031.COM

The information contained in this offering memorandum has been obtained from sources we believe reliable; however, Retail Investment Group has not verified, and will not verify, any of the information contained herein, nor has Retail Investment Group 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.