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NNN Leased Investment 3007 Edgewood Ave W, Jacksonville, FL

Exclusively Offered By: Ken Gould Brian Barson, CCIM Senior Vice President/Principal Senior Vice President/Principal (949) 724-4728 (949) 724-4717 [email protected] [email protected] DISCLAIMER

This Executive Summary was prepared by Lee & Associates - Newport Beach (the “Broker”) solely for prospective purchasers of 3007 Edgewood Ave W, Jacksonville, FL (the “Property”). Neither we (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) nor the Owner of the Property (the “Owner”) make any representation or warranty, expressed or implied, as to the completeness or the accuracy of the material contained herein. The information contained herein was prepared to provide a summary of unverified information to prospective purchasers and to establish only a preliminary level of interest in the Property. The information contained herein is not a substitute for a thorough due diligence investigation; you and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction. The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy with respect to the size and square footage of the Property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos on the Property, etc. All potential buyers must take appropriate measures to verify all of the information set forth herein. It is the sole responsibility of the prospective Buyer to confirm the size of the units, building and property. The building is being offered on an “As Is” basis - Broker and Owner shall not make any representations as to the conditions of the building. The Executive Summary is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity at any time, or to remove the property from the market with or without notice. The Owner shall have no legal commitment or any obligation to any entity reviewing the Executive Summary or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion.

The Executive Summary is confidential. By accepting the Executive Summary, you agree (i) that you will hold and treat the Executive Summary and its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Executive Summary, (iii) that you will not disclose the Executive Offering or any of its contents to any other entity without the prior written authorization of the Owner or the Broker, and (iv) that you will not use the Executive Summary in any fashion or manner that may be deemed detrimental to the Owner or the Broker.

This Property is listed in association with licensed real estate broker Lee & Associates – Central Florida.

It is hereby acknowledged that Owner and authorized agent of Owner are licensed California real estate brokers.

DO NOT DISTURB TENANT

3007 Edgewood Ave W, Jacksonville, FL 2 INVESTMENT OVERVIEW

Lee & Associates - Newport Beach, in association with Lee & Associates Central Florida, is pleased to exclusively offer for sale the NNN leased Property Summary: Church’s Chicken investment property located at the northwest corner of Tenant: Florida Chicken IV, Inc dba Church's Chicken Edgewood Avenue & Cleveland Road in Jacksonville, Florida. Church’s Address: 3007 Edgewood Ave W, Jacksonville, FL 32209 Chicken recently extended its tenancy with a new 10-year absolute NNN lease with two 5-year option periods. Annual rent increases 10% every 5 Assessor's Parcel Number: 041448-0000 years throughout the lease. Zoning: Commercial Year Built/Renovated: 2001/2010 Pricing Summary: Gross Leasable Area: +/- 1,238 sq ft Asking Price: $800,000 Lot Size: +/- 0.52 acres Price Per Sq Ft (Building): $646.20 Type of Ownership: Fee Simple Cap Rate: 7.5% Net Operating Income: $60,000

3007 Edgewood Ave W, Jacksonville, FL 3 LEASE SUMMARY & RENT SCHEDULE

Lease Summary: Rent Schedule:

Lease Type: Absolute NNN Lease Period Years Annual Rent Lease Commencement: 4/1/2019 1 to 5 $60,000.00 Initial Term: Lease Expiration: 3/31/2029 6 to 10 $66,000.00 Option Periods Remaining: 2 x 5-Year Option 1: 11 to 15 $72,600.00 Rent Increases: 10% Every 5 Years Option 2: 16 to 20 $79,860.00

3007 Edgewood Ave W, Jacksonville, FL 4 TENANT OVERVIEW

Rent Schedule

Church’s Chicken was founded in 1952 in San Antonio, Texas and is based in Atlanta, Georgia today. San Francisco private equity firm Friedman Fleischer & Lowe bought Church’s in 2009 and has made a strong push for growth both domestic and international. The chain has grown to more than 1,600 stores worldwide, inclusive of its sister brand, Texas Chicken. Most stores are franchised, including this Jacksonville location. Church’s menu revolves around fried chicken, fries and biscuits, although the menu has been expanding in recent years to include spicy chicken, sandwiches, tacos and seafood. www.churchs.com

3007 Edgewood Ave W, Jacksonville, FL 5 PROPERTY PHOTOS

3007 Edgewood Ave W, Jacksonville, FL 6 SITE MAP

3007 Edgewood Ave W, Jacksonville, FL 7 AERIAL

3007 Edgewood Ave W, Jacksonville, FL 8 DEMOGRAPHICS

DEMOGRAPHICS (2018) 1 Mile 3 Mile 5 Mile Population 7,878 65,174 149,943 Households 3,145 24,942 60,317 Median HH Income $26,101 $30,332 $32,965 Avg HH Income $40,112 $41,972 $47,360

3007 Edgewood Ave W, Jacksonville, FL 9 CITY OF JACKSONVILLE

Jacksonville is the most populous city in Florida, the most populous city in the southeastern and the largest city by area in the contiguous United States. It is the seat of Duval County,with which the city government consolidated in 1968. Consolidation gave Jacksonville its great size and placed most of its metropolitan population within the city limits. As of 2017, Jacksonville’s population was estimated to be 892,062.[13] The Jacksonville metropolitan area has a population of 1,523,615 and is the fourth largest in Florida.

Jacksonville is centered on the banks of the St. Johns River in the region of northeast Florida, about 25 miles (40 km) south of the Georgia state line and 328 miles (528 km) north of Miami. The communities are along the adjacent Atlantic coast. The area was originally inhabited by the people, and in 1564 was the site of the French colony of , one of the earliest European settlements in what is now the continental United States. Under British rule, a settlement grew at the narrow point in the river where cattle crossed, known as Wacca Pilatka to the Seminole and the Cow Ford to the British. A platted town was established there in 1822, a year after the United States gained Florida from Spain; it was named after Andrew Jackson, the first military governor of the Florida Territory and seventh President of the United States.

Harbor improvements since the late 19th century have made Jacksonville a major military and civilian deep-water port. Its riverine location facilitates Naval Station , Naval Air Station Jacksonville, the U.S. Marine Corps Command, and the , Florida’s third largest seaport. Jacksonville’s military bases and the nearby Naval Submarine Base Kings Bay form the third largest military presence in the United States. Significant factors in the local economy include services such as banking, insurance, healthcare and logistics. As with much of Florida, tourism is important to the Jacksonville area, particularly tourism related to golf.

There are more than 500 neighborhoods within Jacksonville’s vast area. These include and its surrounding neighborhoods, including LaVilla, , Riverside and Avondale, Springfield, Eastside, and . Additionally, greater Jacksonville is traditionally divided into several amorphous areas, comprising large parts of Duval County. These are , Westside, Southside, and , as well as the Jacksonville Beaches.

There are four municipalities that have retained their own governments since consolidation; these are Baldwin and the three Jacksonville Beaches towns of Atlantic Beach, Neptune Beach, and Jacksonville Beach. Four of Jacksonville’s neighborhoods, Avondale, , Springfield, and Riverside, have been identified as U.S. historic districts and are in the National Register of Historic Places.

3007 Edgewood Ave W, Jacksonville, FL 10 NNN Leased Investment 3007 Edgewood Ave W Jacksonville, FL

Ken Gould Senior Vice President/Principal (949) 724-4728 [email protected] DRE # 00875719

Brian Barson, CCIM Senior Vice President/Principal (949) 724-4717 [email protected] DRE # 01945282

Listed in conjunction with Lee & Associates – Central Florida FL DRE License # BK3258586

Lee & Associates - Newport Beach 100 Bayview Circle, Suite 600 Newport Beach, CA 92660 (949) 724-1000 California DRE # 01197433

DISCLAIMER: The information contained herein has been obtained from the property owner or other third party and is provided to you without verification as to accuracy. We (Lee & Associates, its brokers, employees, agents, principals, officers, directors and affiliates) make no warranty or representation regarding the information, property, or transaction. You and your attorneys, advisors and consultants should conduct your own investigation of the property and transaction.