Rainbow Express Village (The 1985 Property), a 30,650 Square Foot Year Built Retail Project in Las Vegas, Nevada

R1750A S. RaINinbow BBlvd, LOas VegWas, Nv 8 91E46XPRESS VILLAGE OFFERING MEMORANDUM

Phyllis Hanley Jordan Hanley B.0029985 BS.0145889 Cambridge Group Ltd. Cambridge Group Ltd. 702-335-7719 702-335-7731 [email protected] [email protected] R1750A S. RaINinbow BBlvd, LOas VegWas, Nv 8 91E46XPRESS VILLAGE

TABLE OF CONTENTS EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS INVESTMENT OPPORTUNITY RENT ROLL 2019 EXPENSES FINANCIAL SUMMARY ASSEST OVERVIEW PROPERTY DESCRIPTION SITE PLAN & TENANT ROSTER LOCATION & DEMOGRAPHICS RETAIL MARKET OVERVIEW AFFILIATED BUSINESS DISCLOSURE The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Cambridge Group or Hanley Realty Group and should not be made available to any other person or entity without the written consent of Listing Broker. This Marketing Brochure has been prepared to provide summary and select 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 diligence investigation. Cambridge Group and Hanley Realty Group makes no warranty or representation, with respect to income and expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, all potential buyers must take appropriate measures to verify all of the information set forth herein. PRESENTED BY Phyllis Hanley | Cambridge Group LTD B.0029985 | 702-335-7719

Jordan Hanley | Cambridge Group LTD BS.014889 | 702-335-7731 ERainXbow ExprCess VUTillage | 175IV0 S. RaiEnbo w SBlvd,UM Las Vegas, NMv 891A46 RY

THE OFFERING 30,650 The Cambridge Group LTD as Total Building Area exclusive advisors, are pleased to present the opportunity to acquire Rainbow Express Village (the 1985 Property), a 30,650 square foot Year Built retail project in Las Vegas, Nevada. The shopping center is located in the central submarket and is ±2.2 ACRES currently 97% leased. Built in 1985, Land Area the Property is situated on a single parcel totaling ±2.20 acres, providing an amplE parking of 163-02-212-001 approximately 175 regular spaces APN and 9 handicap spots. Many of the tenants have a long history in the shopping center providing an 184 investor a stable asset with successful long-term occupancy. Total Parking Stalls Furthermore, the diverse mix of retailers in Rainbow Express Village include restaurants, fitness and C-1 Las Vegas personal service users. Zoning INRainbowV ExprEess SVillagTe | 1M750 S. ERainNbow BTlvd, LaHs VegIasG, Nv 8H9146LIGHTS

ESTABLISHED INFILL LOCATION LONG TERM STABLE TENANTS

Center is located in a seasoned area of Las Vegas, on the edge of Across the 24 tenants currently occupying the center, the Spring Valley. The Las Vegas Strip is just under 7 miles away. average length of occupancy is roughly 5 years.

FOOD & SERVICE TENANT MIX UPSIDE POTENTIAL THROUGH LEASE-UP

Rainbow Express contains a diverse tenant mix consisting of The lease-up of the vacant space creates the potential for rapid restaurant, retail, and personal service businesses. revenue and value upside. INRainbowV ExprEess SVillagTe | 1M750 S. ERainNbow BTlvd, LaOs VegPas, NPv 891O46 RTUNITY

Financial Summary

97% Leased $7,300,000.00 Price $488,277.17 NOI 6.7% Cap Rate $235 Price PSF 2Rainb0ow E2xpres1s V illaRge | E1750N S. RaTinbo wR BlvdO, Las VLegasL, Nv 89146

2021 Rent Roll includes increases through 08/01/2021 Tenant Suite # SqFt Rent/SF/Mo Rent Income CAM Charges Mo. Sign Fee Deposit Lease Start Lease End Next Rent Inc. Increase Amt.

J & J Auto Sound #1-1A 2,847 $1.53 $4,355.91 $997.00 $100.00 $5,338.48 11/15/20215 11/14/2025 11/01/2022 $4,402.38 Sin City Vapor #2 993 $1.19 $1,185.69 $348.00 $0.00 $1,161.00 10/01/2012 01/31/2022 02/01/2022 Hearts Alive Village #3-5, 2,560 $1.08 $2,761.20 $897.00 $0.00 $3,404.80 03/01/2015 02/28/2025 03/01/2022 $2,918.40 African Restaurant #6-8 3,441 $1.42 $4,890.22 $1,205.00 $0.00 $5,540.01 07/01/2018 06/30/2023 07/01/2022 $5,036.93 Hearts Alive Village #9-10 1,778 $1.06 $1,886.24 $623.00 $0.00 $2,346.96 02/01/2019 01/31/2024 02/01/2022 $1,942.79 Stay Fresh Barber #11 799 $1.29 $1,036.82 $280.00 $25.00 $1,254.32 05/01/2016 07/31/2021 $1.20 Photo Studio #12 889 $1,066.80 $311.15 $25.00 $1,377.95 04/01/2021 03/31/2026 04/01/2022 $1,098.80 Kreation ,LLC #13 889 $1.20 $1,066.80 $311.15 $0.00 $1,377.95 05/01/2021 04/30/2026 05/01/2022 $1.11 Blaspheme Boutique #14 889 $986.79 $311.15 $0.00 $1,297.94 05/01/2021 04/30/2024 05/01/2021 $1,016.39 $1.13 CBLV LLC #15 1083 $1,227.04 $379.00 $0.00 $1,537.86 04/01/2019 12/01/2024 04/01/2022 $1,263.85 $1.43 Crystal Alterations #15A 605 $869.37 $212.00 $0.00 $900.00 05/01/1999 04/30/2022 05/01/2022 #16-17 5,140 $1.68 Dotty's $8,627.78 $1,805.00 $84.00 $6,939.00 12/01/2009 06/30/2025 07/01/2022 $8,800.34 Lighthouse Tatoo Su. #18-19 1,778 $1.08 $623.00 $889.00 $1,923.44 $0.00 09/01/2013 12/31/2023 01/01/2022 $1,981.14 Vacant #20 889 N/A N/A N/A N/A N/A N/A N/A N/A N/A Lighthouse Tattoo Su #21 889 $1.22 $311.00 $0.00 $1,306.83 $1,084.61 03/01/2019 04/30/2024 03/31/2022 $1,117.15 50 Shades of Green #22 889 $1.20 $311.00 $0.00 $1,164.59 $1,065.75 10/17/2014 10/31/2024 11/01/2021 $1,097.72 New Link Insurance #23 889 $1.20 $311.00 $0.00 $1,262.38 05/01/2019 $1,037.45 07/31/2024 05/01/2022 $1,068.57 #24A 185 Fortem Tactical $2.03 $375.00 $0.00 $0.00 $660.00 08/01/2017 Hair Braiding #24B 150 $2.66 $0.00 $0.00 $400.00 04/01/2021 $400.00 09/30/2022 04/01/2022 $412.00 Candle Sales #24C 185 $2.00 $0.00 $0.00 $370.00 04/01/2021 03/31/2024 $370.00 04/01/2022 $381.10 Mackey & Johnson #24D 285 $2.00 $0.0 $0.00 $570.00 $570.00 11/01/2020 10/31/2022 11/01/2021 #24E 145 $587.10 Denzel Davis $2.06 $306.66 $0.00 $0.00 $290.00 04/01/2019 03/31/2022 #24F 240 Mackey & Briseno $2.00 $480.00 $0.00 $0.00 $480.00 05/01/2019 04/30/2022 #25 150 Blackbird Financial $2.33 $350.00 $0.00 $0.00 $350.00 02/02/2021 01/31/2024 #26 925 02/01/2022 $360.50 Durango Designs $1.06 $977.72 $319.33 $0.00 $300.00 04/01/2011 03/31/2022 #27 700 $.94 $655.00 Golden Hammer $245.00 $0.00 $0.00 02/01/2021 01/31/2022 #1-1A Wienerschnitzel $300.00 $85.00 $0.00 09/01/1980 #1-1A PJD Properties $300.00 $0.00 $0.00 09/01/1980 #1-1A Lee's Discount Liq. $300.00 $0.00 $0.00 09/01/1980

Monthly Total 28 Units 30,212 $39,556.29 $10,699.78 $319.00 $40,519.07

Yearly Total 28 Units 30,212 $474,675.48 $128,397.36 $3,828.00 2Rainb0ow E2xpres0s Villa gEe | 1X750 SP. RainEbowN Blvd,S Las VEegaSs, Nv 89146

Expenses Actual 2020 Income

Rent Income (2021) $474,675.48 Plumbing $717.50 CAM Charges (2021) $128,397.36 Parking Lot Repairs & Maint. $210.00 Sign Fee (2021) $ 3,828.00 Sign Repair & Maint. $322.38 CAM Sewer (2020) $ 13,507.49 Sweeping $12,000.00 Electricity (Shared w/Pads) $2,894.26 Total Operating Income $620,408.33 Water $3,706.57 Sewer $17,387.59 Garbage & Recycling $7,776.33 Income Summary Fire System Expenses $5,927.80 General Maint. & Repairs $2,442.50 Total Operating Income $620,408.33 Landscaping $4,200.00 Total Operating Expense (Est. for 2021) $132,131.16 Insurance General $13,069.11 NOI - Net Operating Income $488,277.17 Managment Fees $17,399.00 Property Tax $28,175.89 Rent Income inclues rent increases through 08/01/2021. Expenses have been adjusted Non CAM Gas (Mini Suites) $354.91 minus non-reoccurring and capital expenses. Non CAM Electric (Mini Suites) $1,227.30 Non CAM Water (Shared W/Pads) $1,767.82 Non CAM Repair and Maint. $735.00 Roof Repair and Maint. $3,800.00 Lighting Repair $770.00

TOTAL OPERATING EXPENSE $124,883.96 FRainINbow ExApress NVillageC | 175IA0 S. RaiLnbo w SBlvd,UM Las Vegas, NMv 891A46 RY

Financial Summary

Purchase Price $7,300,000.00 Loan #1 $5,110,000.00 Cash Required $2,190,000.00

Calculated Return

Annual Income $620,408.33 Operating Expenses (Est. for 2021) $132,131.16

NOI $488,277.17 Cap Rate $6.7%

Est. Loan Payment $289,227.00 Cash Flow $199,050.17 Rate of Return 9.1%

*Calculation based off 30 year term at 3.9% ARainbSow ESxpreEss VTillage |O 1750 SV. RainEbowR BlvdV, Las IVeEgas,W Nv 89146

PROPERTY SUMMARY

Rainbow Express Village is a 30,650 SF property, C-1 Zoned on approximately 2.2± Net Acres, built in 1985. The property is approximately 30,650 SF, with 3 Additional pads located on property that are separately owned and are not apart of sale. Pad owners do contribute to CAM and are billed monthly on actual costs. National Tenants include: Dotty's, Starbucks, Jersey Mikes, Lee's Liquor, and Weinerschnitzel. Rainbow Express Village supports a very diverse tenant structure including: Car Audio Services, Dog Adoption & Grooming, Photography, Party Supplies/custom t-shirts, Alterations, Vapor Shop, Purses & Accessories, Beauty Salon, African Restaurant, Nutritional Meal Services, Tattoo Suppliers, and a Barber Shop. PRainRbow EOxpresPs VillaEge R| 1750T S. RYainbo wDE Blvd, LasS VegCas, NvR 891I46PTION

LIGHTING: 2019/2020 Owner replaced all building lighting to LED (front and rear), over $20,000 worth of fixtures and wiring. SIGNAGE: The property has one plylon sign on Rainbow Blvd and a smaller single tenant sign, providing tenants with additional exposure to passing motorists. 2021 refaced the northside of the sign and replaced ballasts and all lighting ($7000+) ROOFING SYSTEMS: Owner has resealed and repaired 90% of the roof with 1 year left on warranty FIRE SPRINKLER SYSTEM: Fire sprinkler lines and heads have been replaced in 40%-50% of the units. $35,000 upgrade SRainIboTw EExpre ssP VillaLge |A 1750N S. Rai nb&ow B lvdT, LaEs VeNgas, NAv 891N46 T ROSTER S E , E G S E D L N N L D I R M D G R E O I

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Rainbow Blvd *Three pads separately owned are not apart of sale, but do contribute to CAM expenses. L U I ' S C O C I N A

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*Three pads separately owned are not apart of sale, but do contribute to CAM expenses. LRainObow ECxpresAs VillaTge |IO 1750 S. RNainbo w& Blvd, LaDEs Vegas, MNv 891O46 GRAPHICS

POPULATION 2 Mi 5 Mi 10 Mi 2010 Pop. 63,315 441,621 1,231,486 2020 Pop. 66,847 509,456 1,421,167 2025 Est. Pop. 71,707 553,364 1,543,538 Average Age 39.1 39.2 37.5 Annual Growth 0.6% 1.5% 1.5% 2010-2020 Annual Growth 1.5% 1.7% 1.7% 2020-2025

Population By Race 2 Mi 5 Mi 10 Mi White 49,176 351,546 975,349 Black 7,338 68,266 201,047 American Indian 854 5,834 17,528 Alaskan Native Asian 5,832 56,533 149,426 Hawaiian & PI 583 4,442 12,324 2 Or More Races 3,063 22,834 65,494 Hispanic Orgin 22,665 169,702 500,140

Households 2 Mi 5 Mi 10 Mi Location Information 2010 Households 23,364 161,285 361,804 5 miles of the I-15, Las Vegas Blvd, Resort Corridor and China Town 2020 Households 24,853 201,107 524,320 18.8 Miles to Henderson Airport 2025 Household Proj. 26,631 218,578 569,237 6.7 Miles to North Las Vegas Airport Annual Growth 0.0% 1.0% 0.9% 10.0 Miles to McCarran International Airport 2010-2020 Traffic Volume on S. Rainbow Blvd estimated 47,008(2018) Annual Growth 1.4% 1.7% 1.7% Traffic Volume on W. Oakey Blvd estimated 10,114 (2018) 2020-2025 RRainbEowT ExpAress VILillage | 1M750 S. RAainboRw BlKvd, LaEs VeTgas, NOv 8914V6 ERVIEW

Economy The Las Vegas metropolitan area, encompassing Las Vegas, Henderson, North Las Vegas and Boulder City, known as the “Entertainment Capital of the World” is home to more than 1,216,960 residents. With a tourism and gaming industry unlike any other in the world, the city boasts more than 31 mega hotel/casinos with over 150,000 available hotel rooms. Tourism is at a record high with the city hosting over 49.5 million visitors in 2019. Gaming revenue reached $6.587 billion in Las Vegas in 2019.

McCarran International Airport (LAS), the 10th busiest U.S. airport in 2019, has continued its increase in passengers. The airport has seen 24.4 million passengers so far in 2019. Las Vegas continues to be a desirable place for residents due to its high quality of life, lower housing costs, and favorable tax benefits.

Housing The housing market has improved over the past year, in every measureable indicator. Las Vegas home values have gone up 3.8% over the past year and Zillow predicts they will rise 4.4% within the next year. Sports Las Vegas is currently celebrating the success of its two major sports teams. The Las Vegas Golden Knights, and Las Vegas Raiders. Allegiant Stadium - home to the Las Vegas Raiders is ideally located for both visitors and locals, fully enclosed and climate-controlled with a capacity of 65,000. Recreation The City of Las Vegas isn't limited to just the bright lights of the Las Vegas Strip. The national parks, and recreational locations just outside of the city are a favorite of locals & visitors. Lake Mead National Park is just a short drive out of the city and offers six marinas, numerous beaches, and plenty of camping destinations. In addition, Red Rock National Park, and Mount Charleston are just under 45 minutes out of the city. Allegiant Stadium Circa Resort & Casino MSG Sphere Las Vegas The 65,000 seat stadium is located west of the Las Circa, the first ever adults only casino, is set to open MSG Sphere at The Venetian is a sphere-shaped music Vegas Strip allowing easy access for both tourists and October 28, 2020, will have 777 guest rooms, five and entertainment arena being built in Paradise, Nevada, area residents. The Raiders celebrated their first game in restaurants, a two-level casino, "the largest sports book near the Las Vegas Strip and east of the Venetian the stadium on September 21, 2020. in Las Vegas," nine-story parking garage, six swimming resort.With a 160,000-square-foot wraparound screen, pools and a 125-foot screen. the Sphere is expected to be home for daily show programming and headliner performances.

Amazon Fufillment Center Las Vegas Convention Center Majestic Las Vegas Located in North Las Vegas, this 813,000 SF fulfillment The $980 million West Hall Expansion will add 1.4 million Breaking ground in May of 2020, this 45-story, 720-room center stays busy. The center employees roughly 3,500 square feet including 600,000 square feet of new, resort hotel,with 6 stand alone restaurant and a total of Las Vegas Residents, and is looking to hire an additional leasable exhibit space, a 14,000 square-foot outdoor 1,353,066 square feet will be completed in 2023. What 2,000 this coming year (2020). terrace able to hold receptions with up to 2,000 sets this hotel apart - there is absolutely no gambling. attendees, and a grand atrium. The expansion is slated for completion in December 2020.