Representative Photo

Offering Memorandum

Orlando, Florida

AMERICAN FREIGHT

Located on Orange Blossom Trail With a Daily Traffic Count of

More Than 31,000 Vehicles

Subject Property

140+ Store Corporate

Guarantee with a Brand New

10-Year Lease

CONFIDENTIALITY AND DISCLAIMER

NON-ENDORSEMENT NOTICE

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 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 substitute for a thorough due diligence investigation. Marcus & Millichap 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 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 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.

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing 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 the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

NET LEASED DISCLAIMER

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

FINANCIAL OVERVIEW

Overview

4116 North Orange Blossom Trail, Orlando, FL 32084Price: $2,954,000Cap Rate: 6.50%Rentable Square Feet: 24,231Annual Rent: $192,000Rent/Square Foot: $7.92Land Area: 1.63 AcresYear Built: 1977

Tenant: American FreightWebsite: AmericanFreight.usLease Guarantor: CorporateLease Type: NNNLease Term: 10 Years

Base Term Annual Rent PSF Cap Rate

Lease Year 1: $192,000 $7.92 6.50%Lease Year 2: $193,920 $8.00 6.56%Lease Year 3: $195,859 $8.08 6.63%Lease Year 4: $197,818 $8.16 6.70%Lease Year 5: $199,796 $8.25 6.76%Lease Year 6: $201,794 $8.33 6.83%Lease Year 7: $203,812 $8.41 6.90%Lease Year 8: $205,850 $8.50 6.97%Lease Year 9: $207,908 $8.58 7.04%Lease Year 10: $209,988 $8.67 7.11%

Option Periods: 3, 5-Year OptionsRental Increases: 1% Annually Roof & Structure: TenantRent Commencement: COELease Expiration: 10 Years from COE

Lease Summary

One percent annual rent increases in base term and option periods

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

Investment Highlights• Brand New, 10-Year, Triple Net (NNN) Lease• Three, Five-Year Renewal Options• One Percent Annual Rental Increases in Base Term and Option Periods• Corporate Guarantee

Location Highlights• Located off Orange Blossom Trail with a Daily Traffic Count of More Than

31,000 Vehicles• Within Close Proximity to John Young Parkway with a Daily Traffic Count of

More Than 52,000 Vehicles• Six Miles from Downtown Orlando and Valencia College West Campus• Within Close Proximity to the University of Central Florida, Which is the

Largest University in the United States by Undergraduate Enrollment and the Second Largest in the United States by Total Enrollment

• 10 Miles from Seminole State College – Altamonte Springs Campus and Universal Studios Florida

• 15 Miles from the Orlando International Airport, the 13th- Busiest Airport in the United States and 29th Busiest in the World

• Less Than 20 Miles from Walt Disney World and Sea World Orlando• Orlando is One of the Busiest and Most Popular Tourist Areas in Florida,

and is Best Known as “The Theme Park Capital of the World”

Tenant Highlights• American Freight Furniture and Mattress has Over 140 Stores Throughout

the United States• Famous Manufacturers Turn to American Freight Furniture and Mattress

Stores for Quick Liquidation and Disbursement• Their Low Operating Cost Saves Consumers from Paying Expensive Retail

Showroom Markups for Their Furniture

INVESTMENT HIGHLIGHTS

TENANT SUMMARY

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

American Freight Furniture and Mattress has over 140 stores throughout the United States that are always open to the public. American Freight was acquired by New York-based private equity firm, The Jordan Company, in October 2014.

Year after year, famous manufacturers turn to American Freight Furniture and Mattress stores for quick liquidation and disbursement of unclaimed freight, cancelled orders, closeouts, overruns and special buyouts.

American Freight offers buyers brand name furniture, including famous manufacturers like Albany, American Furniture, Associated Bedding, Astoria, Beautyrest, Cramco, Crownmark, Delta, Dr. Marvin’s Sleep Products, Elements, Guardian, Hughes, Kith, Millcraft, Motion Eaze, Nordicrest, North Carolina Upholstery, Park Hill, Standard, Simmons, Serta, Solstice, Stewart & Hamilton, Stylecraft, Woodcrest and Worthington House.

Since 1993 American Freight Furniture and Mattress stores have offered discount furniture to customers by maintaining modest warehouses and no expensive showrooms. Their low operating cost saves consumers from paying expensive retail showroom markups for their furniture. Customers can purchase high quality furniture at closeout prices and avoid paying for fancy showrooms and displays.

LOCAL & REGIONAL MAPS

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

MARKET OVERVIEW

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

Orlando is one of the busiest and most popular cities in the state of Florida, and is best known as “The Theme Park Capital of the World.” In 2014 its tourist attractions and events drew more than 62 million visitors to the area. As the most visited American city, Orlando’s famous attractions form the backbone of its tourism industry: Walt Disney World, Universal Studios Florida and SeaWorld. With the exception of Walt Disney World, most major attractions are located along International Drive.

Orlando is the county seat of Orange County located in Central Florida. It is the center of the Orlando metropolitan area, which is the 26th largest metropolitan area in the United States, the sixth largest metropolitan area in the Southern United States and the third largest metropolitan area in the state of Florida. The Orlando International Airport is the 13th-busiest airport in the United States and the 29th busiest in the world.

Orlando, Florida | Orange CountyOrlando is home to the University of Central Florida, which is the largest university in the United States by undergraduate enrollment and the second largest in the United States by total enrollment. In 2010, Orlando was listed as a “Gamma−” level of world-city in the World Cities Study Group’s inventory. Orlando ranks as the fourth most popular American city based on where people want to live.

The current population of Orange County is nearly 1.2 million with the median age of 34. Orange County’s median household income is $48,784, and the average household net worth is $390,872. Thirty percent of Orange County’s population are long-term residents having lived in their homes for more than five years.

Orlando is Best Known as

“The Theme Park Capital of

the World”

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services of Florida © 2017. All rights reserved.

POPULATION 1 MILE 3 MILES 5 MILES2010 Population 2,837 79,830 245,7772016 Population 3,187 87,321 268,6452021 Population 3,165 88,221 276,4822016 Male Population 1,695 41,943 129,0382016 Female Population 1,491 45,378 139,6072016 Median Age 44.5 36.1 36.1

RACE & ETHNICITY 1 MILE 3 MILES 5 MILESAmerican Indian, Eskimo 0.5% 0.4% 0.4%Asian 1.9% 2.9% 3.2%Black 15.1% 42.7% 42.5%Hawaiian/Pacific Islander 0.1% 0.0% 0.1%White 78.4% 47.1% 46.5%Other 2.0% 3.7% 4.2%Multi-Race 2.1% 3.1% 3.2%Hispanic Ethnicity 10.3% 14.0% 14.7%Not of Hispanic Ethnicity 89.7% 86.0% 85.3%

HOUSEHOLDS 1 MILE 3 MILES 5 MILES2010 Households 1,272 32,227 97,1182016 Households 1,439 35,209 105,7922021 Households 1,430 35,864 109,793

HOUSEHOLD INCOME 1 MILE 3 MILES 5 MILES2010 Avg Household Income $66,250 $59,288 $63,8482016 Avg Household Income $67,749 $59,819 $65,0062021 Avg Household Income $84,274 $73,195 $78,6932010 Med. Household Income $41,953 $39,637 $41,3772016 Med. Household Income $42,902 $39,849 $42,0692021 Med. Household Income $55,526 $46,930 $51,1802010 Per Capita Income $29,958 $24,201 $25,5232016 Per Capita Income $30,835 $24,372 $25,8772021 Per Capita Income $38,335 $30,006 $31,521

DEMOGRAPHICS

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Subject Property

Barry M. WolfeSenior Vice President of InvestmentsBarry.Wolfe@marcusmillichap.com

(954) 245-3493

Alan LipskySenior Associate

Alan.Lipsky@marcusmillichap.com(954) 245-3595

Catie JacksonMarketing Coordinator

Catherine.Jackson@marcusmillichap.com(954) 245-3592

Angelica LinaresTransaction Coordinator

Angelica.Linares@marcusmillichap.com(954) 245-3416

Howard BregmanFirst Vice President Investments

Howard.Bregman@marcusmillichap.com(954) 245-3417