Investment Offering - Single Tenant 2105 Oddie Boulevard | Sparks, Nevada 89431 For Sale By Owner: Joshua Volen, President | (858) 367-5901 | CA BRE #01437000 Partners Exclusively Listed in Association with: Congress Realty, Inc. NV Lic. #1001537 CIRECOMMERCIAL INVESTMENT REAL ESTATE Investment Offering - Single Tenant 2105 Oddie Boulevard | Sparks, NV Confidentiality & Disclaimer The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended only to be reviewed by the party receiving it from CIRE Brokerage Services Inc. dba CIRE Partners (hereafter “CIRE Partners”) and should not be made available to any other person or entity without the written consent of CIRE Partners. This Offering Memorandum has been prepared to provide summary, unverified 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. CIRE Partners has not made any investigation and makes no warranty or representation, with respect to the income or 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 regulators, 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 Offering Memorandum has been obtained from sources we believe to be reliable; however, CIRE Partners has not verified, and will not verify, any of the information contained herein, nor has CIRE Partners conducted any investigation regarding theses 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. This is not an appraisal. Please consult your CIRE Partners agent for more details. The information contained herein was obtained from sources believed reliable, however, CIRE Partners makes no guaranties, warranties or representations as to the completeness thereof. This document has been prepared by CIRE Partners for advertising and general information only. CIRE Partners excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. section I executive summary section II property description section III For more information contact: financial analysis Joshua Volen, President section IV (858) 367-5901 direct market information [email protected] CA BRE #01437000 section V tenant profiles Exclusively Listed in Association with: Congress Realty, Inc. NV Lic #1001537 contents table of 2105 Oddie Blvd | Sparks, NV property Built in 1967 2,494 SF Located on 0.66 Acres snapshot Absolute NNN Lease Ground Lease Ownership pricing summary Purchase Price $1,634,800 CIRE Partners is pleased to exclusively offer for sale a single tenant net leased asset NOI $65,392 located in the Paradise Plaza retail center in Sparks, NV. The subject property consists of an approximately 2,494 SF building on a 0.66 acre parcel located at 2105 Oddie Boulevard. CAP rate 4.00% Wells Fargo occupies 100% of the property on a ±5 years remaining lease term. Lease Term ±5 Years Remaining The subject property is strategically located at the signalized corner of Oddie Boulevard and Sullivan Lane. The center's trade area is experiencing a recent surge in commercial real estate activity which includes several reposition or expansion projects along Oddie Boulevard that are projected to add a minimum of ±400 new jobs within a two block radius. The tenant mix at Paradise Plaza features a diverse collection of national retailers and restaurants, including KMart, Family Dollar, US Bank, Walgreens, Jack in the Box, among others. page 3 executive summary 2105 Oddie Boulevard | Sparks, NV investment overview Address 2105 Oddie Boulevard | Sparks, NV APN 031-012-23 Square Footage 2,494 SF Year Built 1967 Purchase Price $1,634,800 CAP Rate 4.00% NOI $65,393 Parking 6.57 / 1,000 Zoning C-2 Amenities Two (2) Walk-Up ATMs; One (1) Drive-Thru ATMs Lease Type Absolute NNN Remaining Lease Term ±5 Years Traffic Counts Oddie Blvd & Sullivan Lane: ±17,575 ADT Route 80: ±100,000 ADT Year(s) Dates Monthly Rent Monthly Rent / SF NOI CAP Rate Current 07/01/2013 - 06/30/2023 $5,449.39 $2.19 / SF $65,392.68 4.00% Option 1 07/01/2023 - 06/30/2028 $6,266.79 $2.51 / SF $75,201.48 4.60% Option 2 07/01/2028 - 06/30/2033 $7,206.81 $2.89 / SF $86,481.72 5.29% investment highlights • Stand alone building with two (2) walk-up ATMs and one (1) drive-thru ATM • Located on a hard corner location of Oddie Boulevard less than one mile east of the lease abstract US Hwy 365/Oddie Blvd interchange, the property benefits from good visibility to the Tenant Wells Fargo over ±17,575 ADT that travel this commuter corridor surface street • Approximately 50% below market rents for the area Lease Commencement 01/30/1979 • Annual vehicle/day increases are projected as new jobs and planned commercial Lease Expiration 06/30/2023 redevelopments come on line in the immediate trade area Lease Type Absolute NNN • Investment-Grade Tenant (Wells Fargo S&P Credit Rating: A) • Wells Fargo Branch Deposits totaling over $52.8 Million (22.7% Increase in Deposits) Current Annual NOI $65,392 • Proven Track Record: Bank Institution on Site Since the 1970s Renewal Option Two - 5 Year Options • Neighboring shopping centers include national or regional tenants such as Grocery Tenant Responsibilities Roof & Structure Outlet, CVS, KFC, Carls Jr, U-Haul, Dollar Tree, and AutoZone providing a current draw to the corridor that will be substantially enhanced with the new pending commercial Guarantor Corporate redevelopment activity in the trade area page 4 property description 2105 Oddie Boulevard | Sparks, NV location map 395 80 80 page 5 property description 2105 Oddie Boulevard | Sparks, NV property aerial 395 Oddie Boulevard 80 80 395 page 6 property description 2105 Oddie Boulevard | Sparks, NV property site plan ATM available page 7 property description 2105 Oddie Boulevard | Sparks, NV property photos page 8 property description 2105 Oddie Boulevard | Sparks, NV financial information Lease Term: 01/30/1979 - 06/30/2023 Renewal Options: Two 5 Year Options Real Estate Taxes & Tenant agrees to pay or to reimburse LL for payment of all general and special taxes and assessment levied against the Premises Insurance: and the improvement thereon including any assessment for local improvements. Utilities: Tenant, at its own expense, to pay for all water, gas, electricity, sewage and telephone service as well as for the collection, storage and disposal of rubbish, trash, and all other normal waste resulting from Tenant's occupancy and use of the Premises during the Lease term. To the extent that any utilities are furnished by Landlord or are sub-metered by Landlord, then and in that event the rates charged to Tenant shall not exceed those of the local public utility companies which would be imposed if such services were furnished directly to Tenant. page 9 financial analysis 2105 Oddie Boulevard | Sparks, NV market overview 2017 demographics 1 Mile 3 Miles 5 Miles Sparks, NV Total Population 26,419 110,544 247,032 The beautiful and family-oriented city of more than 92,000 residents is located in the Truckee Total Households 10,014 43,101 97,048 Meadows between the Carson and Virginia Mountain Ranges at an elevation of nearly 4,500 Average Household Income $36,267 $38,408 $43,724 feet, less than an hour from Lake Tahoe. They share their beautiful valley on the eastern slope of Population Growth (2017 -2022) 6.55% 5.72% 5.94% the Sierra with our neighbor to the west, Reno. The climate is mild, with lots of sun, low humidity and rainfall, and a full four seasons. The City is the closest metropolitan area to the Tahoe-Reno Industrial Center, home to Tesla Motors gigafactory. Sparks is also in proximity to prominent higher-education institutions to include the University of Nevada, Reno, a Tier One university. Since the 1990’s Sparks has grown tremendously, offering residents and visitors a wide array of services and activities. Sparks was reported as the fastest growing city in Nevada between 1999 - 2008 and continues to grow. The city's Community Services and Planning Department and the Sparks Redevelopment Agency work closely with current business owners and new developers to provide a 'business friendly' environment within which to pursue responsible economic activities. The Sparks industrial area provides many opportunities for a wide range of businesses to open or expand their operations in western Nevada, with excellent commercial and cargo air (Reno-Tahoe International Airport), surface (I-80 and U.S. 395) and rail (Union Pacific) transportation at one's doorstep. Sparks is also well known for its outstanding Parks and Recreation system designed to appeal to young and old alike, with numerous neighborhood parks, regional sports facilities and an unusually large number of fun and exciting recreation programs. Opened in 2009 is the Whitewater Park at Rock Park. Along with pools for kayaking, tubing and rafting for all skill levels, the new features include improved riverbank landscaping, shade and play structures. New to the growing list of recreational activities is the Golden Eagle Regional Park, located on 450 acres east of Wingfield Springs, south of Vista Boulevard. The facility consists of six softball fields, four baseball fields, two youth baseball/softball fields, stadium-size soccer/football field and two multi-purpose fields, along with volleyball and bocce ball.