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INVESTMENT OPPORTUNITY 4899 SUMMER AVENUE MEMPHIS, TN 38122 Prepared By: ANDREW PHILLIPS, SIOR, CCIM Senior Vice President | Retail & Investment Services

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INVESTMENT OPPORTUNITY 4899 SUMMER AVENUE MEMPHIS, TN 38122 Prepared By: ANDREW PHILLIPS, SIOR, CCIM Senior Vice President | Retail & Investment Services OFFERING MEMORANDUM INVESTMENT OPPORTUNITY 4899 SUMMER AVENUE MEMPHIS, TN 38122 Prepared by: ANDREW PHILLIPS, SIOR, CCIM Senior Vice President | Retail & Investment Services ED THOMAS, CCIM Vice President | Retail Services Colliers International | Memphis 6363 Poplar Avenue Suite 220 Memphis, TN 38119 +1 901 375 4800 Central Florida EXCLUSIVE AGENTS Andrew Phillips, SIOR, CCIM Ed Thomas, CCIM Senior V.P., Retail & Investment Services Vice President, Retail Services Direct +1 901 312 4916 Direct +1 901 312 4912 Email [email protected] Email [email protected] LIMITING CONDITIONS CONFIDENTIALITY & DISCLAIMER STATEMENT This Offering Memorandum was prepared by Colliers International Memphis and has been reviewed by the Seller. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may desire. All financial projections are provided for general reference purposes only and are based on assumptions relating to the general economy, competition, and other factors, which therefore are subject to material change or variation. An opportunity to inspect the Property will be made available to qualified prospective purchasers. In this Offering Memorandum, certain documents, including leases and other materials, are described in summary form and do not purport to be complete nor, necessarily, accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to independently review all documents. This Offering Memorandum is subject to prior placement, errors, omissions, changes, or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the value of the Property by Colliers International Memphis or the Seller. Each prospective purchaser is to rely upon its own investigation, evaluation, and judgment as to the advisability of purchasing the Property described herein. Seller and Colliers International Memphis expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/ or to terminate discussions with any party at any time with or without notice. Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller, and any conditions to Seller’s obligations thereunder have been satisfied or waived. Colliers International Memphis is not authorized to make any representations or agreements on behalf of the Seller. This Offering Memorandum is the property of Colliers International Memphis and may be used only by parties approved by Colliers International Memphis. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it to Colliers International Memphis and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without prior written authorization of Colliers International Memphis and the Seller. The terms and conditions set forth above apply to this Offering Memorandum in its entirety. TABLE OF CONTENTS 1 > INVESTMENT SUMMARY - Overview 5 - Tenant Information 6 - Property Aerial 7 - Location Map 8 2 > FINANCIAL OVERVIEW - Income & Expense Proforma 10 3 > MEMPHIS OVERVIEW - Memphis Area Overview 12 4899 SUMMER AVENUE, MEMPHIS, TN 38122 | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 3 4899 SUMMER AVENUE Offering Memorandum Investment Opportunity > Investment Summary COLLIERS INTERNATIONAL | MEMPHIS INVESTMENT SUMMARY Overview 4899 SUMMER AVENUE MEMPHIS, TN 38122 SIZE 7,524+/- square feet OFFERING PRICE $1,126,650.00 LAND ACREAGE Approximately 1.2 acres CAP RATE 8.0% TYPE Retail/Shopping Center IN-PLACE NOI $90,132 YEAR BUILT/RENOVATED 1989 OCCUPANCY 100% THE OFFERING Colliers is pleased to present this 100% occupied +/-7,524 square foot retail center located at the southwest corner of Summer Avenue and Mendenhall. Featuring nationally recognized tenants such as AT&T and Jackson Hewitt, this center presents an excellent investment opportunity to acquire a fully occupied strip center on one of Memphis’ busiest corridors. Positioned less than one-mile from 1-40/I-240 Interchange with close access points to Sam Cooper Boulevard, the property features great visibility, signalized ingress/egress, and unique additional storage in the rear of the 1.2 acre site. The center benefits from high traffic counts on Summer Avenue (+/- 30K VPD) as well as Sam Cooper Boulevard (+/- 64K VPD) which runs directly behind the property. BUILDING HIGHLIGHTS • Excellent visibility on Summer Avenue • Easy access to I-40 and I-240 Interchange • 100% occupied center with nationally recognized tenants • Below market rents • Hard corner site with signalized traffic light 4899 SUMMER AVENUE, MEMPHIS, TN 38122 | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5 INVESTMENT SUMMARY Tenant Information WINDOW WORLD OF MEMPHIS Window World of Memphis is a locally owned and operated franchise, proudly providing exceptional value, expertise, and service from the heart of downtown Memphis, TN. They provide beautiful new custom replacement windows, doors, and vinyl siding options, and are the undisputed Tennessee leader in replacement windows. Since its start in 2007, Window World of the Memphis has grown to be one of the largest home improvement resources in the region with a wide array of products including vinyl replacement windows, replacement doors, vinyl siding, shutters, and reflective insulation. With various colors and styles, Window World provides countless combinations of exterior solutions. Their products are designed to increase the performance of your home, bringing energy efficiency and functionality to new heights. AT&T INC. AT&T Inc. is an American multinational conglomerate holding company headquartered at Whitacre Tower in Downtown Dallas, Texas. It is the world’s largest telecommunications company, the second largest provider of mobile telephone services, and the largest provider of fixed telephone services in the United States through AT&T Communications. Since June 14, 2018, it is also the parent company of mass media conglomerate WarnerMedia, making it the world’s largest media and entertainment company in terms of revenue. As of 2018, AT&T is ranked #9 on the Fortune 500 rankings of the largest United States corporations by total revenue. JACKSON HEWITT Jackson Hewitt Tax Service Inc., founded in 1982 is the second-largest tax-preparation service in the United States; responsible for preparing over 2 million federal, state, and local income-tax returns each year. The company is based in Jersey City, New Jersey. It operated more than 6,000 franchised and company-owned locations throughout the United States, including nearly 3,000 located in Walmart stores nationwide. In January 1998, the Cendant Corporation, a consumer conglomerate, purchased Jackson Hewitt in a transaction valued at approximately $480 million. In 2004, Jackson Hewitt Tax Service Inc. was spun off as a separate company. MEDICARE INSURANCE ADVISORS INC. Medicare Insurance Advisors Inc. (MIA Inc.) was founded in 2012 with a focus on being a community resource for the senior market. They wanted to be different from any other agency in the senior market, by providing a custom experience for our clients and community. Their process is centered around providing education and long term support, not just a one-time enrollment meeting. Since their beginning in Knoxville, TN in 2012, they have grown rapidly throughout the Southeast region. They have three other resource offices in Nashville, Memphis, Daphne, Alabama and other offices opening in the future. Their agent partners now serve clients in Tennessee, Alabama, Mississippi, Virginia, Arkansas, Georgia, Florida, Nebraska, Missouri, Illinois, Kansas, and North Carolina. Their agent partners have backgrounds such as: teachers, social workers, insurance carrier managers and other community positions 4899 SUMMER AVENUE, MEMPHIS, TN 38122 | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6 INVESTMENT SUMMARY Property Aerial Sam Cooper Blvd Storage N. Mendenhall Rd Summer Ave 4899 SUMMER AVENUE, MEMPHIS, TN 38122 | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7 INVESTMENT SUMMARY Location Map 4899 SUMMER AVENUE, MEMPHIS, TN 38122 | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8 4899 SUMMER AVENUE Offering Memorandum Investment Opportunity > Financial Overview COLLIERS INTERNATIONAL | MEMPHIS FINANCIALFINANCIAL INFORMATION OVERVIEW Income & Expense Proforma LEASE AS-IS STABILIZED SUITE TENANT NAME SQ. FT. SQ. FT. LEASED EXPIRATION DATE RENT / SF ANNUAL RENT RENT / SF ANNUAL RENT 101 Medicare Insurance Advisors Inc. 1,408 1,408 6/30/2022 $ 13.53 $ 19,044 $ 14.38 $ 20,247 102 Jackson Hewitt Tax Service Inc. 1,408 1,408 4/30/2022 13.96 19,656 14.62 20,585 103 AT&T 1,408 1,408 2/1/2021 16.50 23,232 18.50 26,048 104 Window World 3,300 3,300 10/31/2021 8.55 28,200 12.00 39,600 Total SF 7,524 Occupied SF 7,524 Gross Rental Income $ 90,132 $ 106,480 Plus CTI Reimbursements $ 25,205.40 $ 26,465.67 Vacancy & Credit Loss - 5.0% Effective Gross Income $ 115,3381 $ 126,298 EXPENSES Common Area Maintenance
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