CVS PHARMACY9805 GEIST CROSSING DRIVE, INDIANAPOLIS, IN 46256

Offering Memorandum

PROPERTY VIDEO

NON-ENDORSEMENT& DISCLAIMER NOTICE

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CONFIDENTIALITY & DISCLAIMERThe 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 Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure 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 substi- tute for a thorough duediligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses forthe subject property, the future projected financial performance of the property, the size and squarefootage 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, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these 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. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2017 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in thismarketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for thepurpose of providing tenant lesseeinformation about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.

PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided. As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer. Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factors that should be evaluated by you and your tax, financial and legal advisors. Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs. Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and the lease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property. By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this net

leased property.

SPECIAL COVID-19 NOTICE

All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may deem necessary, especially given the unpredictable changes resulting from the continuingCOVID-19 pandemic. Marcus & Millichap has not been retained to perform, and cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermediaries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants,contractors, or engineers. All potential buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s physical condition or financial outlook. Projections and pro forma financial statements are not guarantees and, given the potential volatility created by COVID-19, all potential buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.)

CVS PHARMACY9805 GEIST CROSSING DRIVE, INDIANAPOLIS, IN 46256

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EXCLUSIVELY LISTED BY

LAURIE ANN (L.A.) DRINKWATER, CCIMSenior Vice President Investments

Senior Director - National Retail Group Boston Office

Tel 617.896.7320Fax 866.262.3242

laurieann.drinkwater@marcusmillichap.com Licenses: CT REB.0751880,

MA 147511, RI B 16787

SETH J. RICHARDFirst Vice President Investments

Senior Director - National Retail Group Manhattan OfficeTel 212.430.5164Fax 866.262.3242

seth.richard@marcusmillichap.com Licenses: NY 10401275108,

CT RES-0764595, MA 149700

BROKER OF RECORDJosh Caruana

License: RB14034355

TABLE OF CONTENTS

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EXECUTIVE SUMMARYSECTION 1

PROPERTY DESCRIPTION SECTION 3

INVESTMENT HIGHLIGHTSSECTION 2

FINANCIAL ANALYSISSECTION 4

MARKET OVERVIEWSECTION 5

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EXECUTIVE SUMMARY

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OFFERING HIGHLIGHTS

OFFERING PRICE

$2,933,000CAP RATE

5.85%TERM REMAINING

12.5 Years

LOCATION HIGHLIGHTS

9805 Geist Crossing Drive, Indianapolis, IN 46256

170,5525-Mile Population

$98,420Average Household

Income

22,309Vehicles Per Day

VITAL DATA

Price $2,933,000

Cap Rate 5.85%

NOI $171,600

Lease Type NNN

Price/SF $232.63

Rent/SF $13.61

Gross Leasable Area 12,608 SF

Lot Size 1.62 Acres

Year Built / Renovated 1995

INVESTMENT HIGHLIGHTS

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CVS PHARMACY

ABOUT THE INVESTMENT• Recently Extended NNN Lease with 12.5 Years Remaining

• Two Five-Year Options – First Option: 30% Increase

• Below Market Rent

• CVS has been at the Location for 25 Years

• Corporate Guarantee

• New Signage on Building

• MinuteClinic on site

• Landlord Responsible for Roof & Structure

• Tenant Responsible for Real Estate Taxes, Insurance, & CAM

ABOUT THE LOCATION• Hard Corner Location

• ADT: 22,300

• One Mile from the Geist Reservoir

• Less than Three miles from I-69, connecting to I-465

• Less than 15 miles from downtown Indianapolis

• 170,000+ people within a Five Mile Radius

• AAHI: $151,000+

OFFERING PRICE

$2,933,000CAP RATE

5.85%NOI

$171,600

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INVESTMENT HIGHLIGHTS

PROPERTY DESCRIPTION

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PROPERTY DETAILSThe subject property is a CVS Pharmacy located at 9805 Geist Crossing Drive in Indianapolis, Indiana. CVS has been located at the property for 25 years and has 12.5 years remaining on their lease. CVS recently extended the lease and has two five-year options remaining with a 30% rental increase at the beginning of the first option and a 5% increase at the beginning of the second option. The tenant operates on a NNN lease with the landlord responsible for roof and structure. The tenant is responsible for real estate taxes, insurance, CAM, utilities, and HVAC.

This CVS Pharmacy includes a MinuteClinic, which offers services including physicals, treating minor illnesses, minor and major injuries, vaccinations and Covid-19 testing. The property is located one mile from the Geist Reservoir, which has seen rapid development over the years and is a luxury summer destination in the suburbs just outside of Indianapolis. Roughly 1,900 acres in size, the lake’s shore is lined with luxury homes that range from $250,000 to $5,000,000+ in value. The property is located less than 15 miles from downtownIndianapolis and less than three miles from Interstate 69; one of the major highways in the area. Located at the corner of East 79th Street and Fall Creek Road, this CVS location has over 22,300 vehicles passing per day. Other retailers in the area include Kroger, The UPS Store, AJ’s Bar & Grill, Pizza Hut, McDonald’s, Jiffy Lube, Regions Bank, SecurCare Self Storage, and more.

CVS PHARMACY

Property Address 9805 Geist Crossing Drive, Indianapolis, IN 46256

Type of Ownership Fee Simple

Property Type Free Standing Retail

Guarantor Corporate

Lease Type NNN

Term Remaining 12.5 Years

Options Two Five-Year Options

Landlord Responsibilities

Roof & Structure

Year Built 1995

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TENANT OVERVIEW

CVS Pharmacywww.cvs.comCVS Health Corp. is a leading pharmacy benefitsmanager with nearly 92 million plan members aswell as the nation's largest drugstore chain(topping Walgreens). It runs more than 9,900 retailand specialty drugstores. In addition to itsstandalone pharmacy operations, the companyoperates CVS locations inside Target stores andruns a prescription management company,Caremark Pharmacy Services. The company alsooffers walk-in health services through its retailnetwork of MinuteClinics that are located inaround 1,100 CVS stores. In late 2018 CVSacquired health insurer Aetna in a $70 billionmegadeal, which adds traditional health insuranceplans serving some 38 million people to itsoperations.

COMPANY TYPE

SUBSIDIARY

2018 REVENUE

$194.6B2018 ASSETS

$196.5M

# OF LOCATIONS

10,000+

CREDIT RATING

BBB+

PARENT

CVS Health Corp.

STOCK TICKER

CVS

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CVS Pharmacy

Regional Map

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Local Map

CVS Pharmacy

Geist Lake

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Geist Crossing Shoppes (110,000+ SF)

Geist Crossing North (14,400 SF)

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Geist Crossing North (14,400 SF)

Geist Lake

FINANCIAL ANALYSIS

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CVS PHARMACY

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PRICING SUMMARY

SUMMARYPRICE $2,933,000Down Payment $2,933,000Price Per SF $232.63Gross Leasable Area 12,608 SFLease Type NNN

Ownership Type Fee SimpleProperty Type Free Standing RetailYear Built 1995Occupancy 100%

RETURNSCAP RATE 5.85%Cash-on-Cash 5.85%

TENANT SUMMARY

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Tenant Name

Square Feet Lease Start Lease End Increase Rent/SF Annual Rent Lease Type

CVS Pharmacy 12,608 1/1/1995 12/31/2032 $13.61 $171,600 NNN

Opt. 1 1/1/2033 $17.68 $222,959

Opt. 2 1/1/2038 $18.57 $234,107

MARKET OVERVIEW

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INDIANAPOLIS OVERVIEWThe Indianapolis metro houses the state capitol and is a growing techhub. Situated in central Indiana, the market consists of 11 counties:Marion, Johnson, Hamilton, Boone, Hendricks, Morgan, Hancock, Shelby,Brown, Putnam and Madison. The metro lacks formidable developmentbarriers, except for the several rivers and creeks that traverse the region.Marion County is home to Indianapolis, which contains a population ofapproximately 863,200 people. Fishers in Hamilton County is the secondmost populous with more than 93,300 residents. Most of the surroundingcounties are rural, offering builders ample land for residential andcommercial development. Population growth is primarily concentrated tothe northern suburbs and west of the city.

METRO HIGHLIGHTSPREMIER DISTRIBUTION HUBAround 50 percent of the U.S. population lies within a one-day drive of Indianapolis, making it a center for the transportation of goods.

MAJOR HEALTH SCIENCES CENTEREli Lilly & Co., Roche Diagnostics Corp. and Covance Inc. maintain operations in the region, among other major health-related employers.

LOW COST OF DOING BUSINESSIndianapolis’ costs are far below national averages, attracting businesses and residents to the area.

MAJOR EMPLOYERS

EMPLOYER

Eli Lilly & Co.

Indiana University Health

Calumet Specialty Products

Simon Property Group

Cummins, Inc.

The Kroger Co.

IUPUI

FedEx

► Indianapolis’ economy has diversified from manufacturing into a variety of other industries, including a growing tech sector underpinned by Salesforce.com.

► The metro is one of the key health-sciences centers in the nation, anchored by several pharmaceutical and life-sciences companies, including Eli Lilly and Roche Diagnostics

► A well-developed interstate network and accessibility to a large portion of the nation in one day by ground or air make the region a burgeoning logistics and distribution hub.

► Indianapolis hosts three Fortune 500 firms, Anthem, Ely Lilly and Simon Property Group.

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ECONOMY

PROFESSIONAL & BUSINESS SERVICES

TRADE, TRANSPORTATION & UTILITIES

EDUCATION AND HEALTH SERVICES

GOVERNMENT LEISURE & HOSPITALITY

21% 10%13%15%16%SHARE OF 2019 TOTAL EMPLOYMENT

* Forecast

DEMOGRAPHICS HIGHLIGHTS

170,552

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POPULATION WITHIN 5-MILE RADIUS

66,773HOUSEHOLDS WITHIN 5-MILE RADIUS

$151,773AVERAGE HOUSEHOLD INCOME

DEMOGRAPHICS

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POPULATION 1 MILE 3 MILE 5 MILE

2019 Estimated Population 4,213 57,405 170,552

2024 Projected Population 4,165 57,494 177,531

Population Growth 2019 - 2024 -0.23% 0.03% 0.82%

Average Age 46.3 39.0 35.1

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2019 Estimated Households 1,603 22,826 66,773

Projected Household Growth 2019 - 2024 0.00% 0.22% 0.88%

Average Household Income $151,773 $113,332 $98,420

Average Household Size 2.6 2.5 2.5

2019 Average Vehicles Per Household 2.0 2.0 2.0

HOUSING 1 MILE 3 MILE 5 MILE

Median Home Value $282,999 $195,692 $184,765

Median Year Built 1991 1990 1989

CVS PHARMACY

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E X CL U S I V E L Y L I ST ED BY

LAURIE ANN (L.A.) DRINKWATER, CCIMSenior Vice President Investments

Senior Director - National Retail Group Boston Office

Tel 617.896.7230 Fax 866.262.3242

laurieann.drinkwater@marcusmillichap.com Licenses: CT REB.0751880, MA 147511, RI B 16787

SETH J. RICHARD First Vice President Investments

Senior Director - National Retail Group Manhattan OfficeTel 212.430.5164Fax 866.262.3242

seth.richard@marcusmillichap.comLicenses: NY 10401275108, CT RES-0764595, MA 149700