DF Downing Frye Realty, Inc. Pensacola Florida 5110 North 9th Ave. Cordova Mall Pensacola, Florida 32504 Asking Price - $5,254,775,000 | 6.20% CAP Rate Financial Offering Summary FRDF Asking Price – $5,254,775.00 | 6.20% CAP RATE Rent Increases Annual Rent Monthly Rent Location – 5110 North 9th Ave Cordova Mall Pensacola, FL 32504 Year 7 (8/01/2020) $325,796 $27,149.65 Year 8 $332,312 $27,692.65 Building Size – 8,298 SF Year 9 $338,958 $28,246.50 Lot Size – 1.03 acres Year 10 $345,737 $28,811.43 Date Remodeled – 11/04/2008 Year 11 $352,652 29,387.66 Year 12 $359,705 29,975.41 Tenant – Red Lobster Hospitality, LLC Year 13 $366,899 $30,574.92 Guarantor – Red Lobster Intermediate Holdings, LLC Year 14 $274,237 $31,186.42 Year 15 $381722 $31,810.15 Lease Term – 25-years Year 16 $389,256 $32,446.35 Lease Commencement – 12/17/2015 Year 17 $397,143 $33,095.28 Lease Expiration – 1/31/2040 Year 18 $405,806 $33,757.18 Lese Term Remaining – 18+ years Year 19 $413,188 $34,432.33 Lease Type – Triple-Net (NNN) Year 20 $421,452 $35,120.97 Roof & Structure - Tenant Responsibility Year 21 $429,881 $35,823.39 Year 22 $438,478 $36,539.86 Options to Renew – Four (4) Five Year Option Periods Year 23 $447,248 $37,270.66 Rental Increases – 2% Annually Year 24 $456,193 $38,016.07 Listing Agent: Rob Bollinger -#SL3335600 Year25 $465,317 $38,776.39 Phone # - (239) 776-2080 Email –
[email protected] All information deemed reliable.