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Smith AveLexington TN 38351

Smith StreetPark

Smith Street ParkCONTENTS

Exclusively Marketed by:

Brandon BuchananLic: 323659731-3003071buchananrealtygroup@gmail.com

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility oferrors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent thecurrent or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

01 Executive Summary Executive Summary 5 Rent Roll Summary 6 Location Summary 7

02 Property Description Property Features 9 Aerial Map 10 Common Amenities 11 Unit Amenities 12

03 Rent Roll Rent Roll Details 14

04 Financial Analysis Income Analysis 16 Expense Analysis 17

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to bereviewed only by the party receiving it from Buchanan Realty Group and it should not be made available to any other person orentity without the written consent of Buchanan Realty Group. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such informationin the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offeringmemorandum. If you have no interest in the subject property, please promptly return this offering memorandum to BuchananRealty Group. This offering memorandum has been prepared to provide summary, unverified financial and physical information toprospective purchasers, and to establish only a preliminary level of interest in the subject property. The information containedherein is not a substitute for a thorough due diligence investigation. Buchanan Realty Group has not made any investigation, andmakes no warranty or representation with respect to the income or expenses for the subject property, the future projected financialperformance of the property, the size and square footage of the property and improvements, the presence of absence ofcontaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition ofthe improvements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property. The information contained in this offering memorandum has been obtained fromsources we believe reliable; however, Buchanan Realty Group has not verified, and will not verify, any of the information containedherein, nor has Buchanan Realty Group conducted any investigation regarding these matters and makes no warranty orrepresentation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must takeappropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs andexpenses of investigating the subject property.

Smith Street Park Confidentiality and Disclaimer | 03

CONFIDENTIALITY AND DISCLAIMER:

PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONTACT THE BUCHANAN REALTY GROUP ADVISOR FOR MORE DETAILS.Copyright © 2016 CREOP, LLC. All Rights Reserved.

Smith Street Park | Executive Sum

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Executive Summary

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Offering Summary

Rent Roll Summary

Location Summary

Smith Street Park Executive Summary | 05

OFFERING SUMMARYADDRESS Smith Ave Lexington TN 38351

COUNTY Henderson

BUILDING SF 4,800

NUMBER OF UNITS 43

YEAR BUILT 2000

APN 091H

FINANCIAL SUMMARYOFFERING PRICE $1,250,000

PRICE PSF $260.42

OCCUPANCY 100 %

PRICE PER UNIT $29,070

NOI (IN-PLACE) $166,916

NOI (MARKET) ($39,484)

GRM 6.06

CAP RATE (IN-PLACE) 13.35 %

CAP RATE (MARKET) -3.15 %

Two parcels consisting of 47,000 gross leaseablesquare feet

Offered at well below replacement costs

Offered at 12.6% Cap Rate

This is a collection of 43 rental home units on two adjoiningparcels, which is made up of approximately 47,000 grossleasable square feet. Rents blend at a low per square foot priceof $4.79, annually. The buildings themselves are categorized asMobile Home Class 3 and are situated in an area of minimalflood hazard, based upon the 500-year flood level. Public naturalgas, electric, water, and sewer services are readily available foreach unit. The district is also considered to be a stableenvironment. The offering price for these two parcels andcollection of housing units is $$1,250,000. We're presenting thisat well below replacement cost, being less than half of whatthose expenses would be. Minimum management and landlordresponsibilities include collecting rent and roof/structuremaintenance, respectively.

Actual MarketUnit Mix # Units Square Feet Current Rent Rent PSF Monthly

IncomeMarket Rent Market Rent

PSFMarket Income

2 bd / 1 ba 1 9,800 $67,200 $6.86 $67,200 $0 $0 $03 bd / 2 ba 1 17,920 $67,200 $3.75 $67,200 $0 $0 $04 bd / 2 ba 1 19,200 $72,000 $3.75 $72,000 $0 $0 $0

Totals/Averages 3 15,640 $68,800 $4.79 $206,400 $0 $0 $0

Smith Street Park Rent Roll Summary | 06

Smith Street Park Location Summary | 07

The property is located in Lexington, TN. Lexington islocated in West Tennessee, 110 miles east ofMemphis and 110 miles west of Nashville. Thisproperty is located on Smith Avenue in the northeastarea of the city. It is in close proximity to majorroadways and Highway 412. The location is ideal forhousing, due to the ease of access and due to theproperty being situated in an urban area with majorretailers in close proximity.

Smith Street Park | Property Description

Property Description

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Property Features

Aerial Map

Parcel Map

Additional Maps

Amenities

Property Images

Smith Street Park Property Features | 09

Site DescriptionNUMBER OF UNITS 43

BUILDING SF 4,800

LAND ACRES 8.00

YEAR BUILT 2000

# OF PARCELS 2

ZONING TYPE B2

TOPOGRAPHY Rolling

LOCATION CLASS Stable

NUMBER OF STORIES 1

NUMBER OF BUILDINGS 43

POOL / JACUZZI No

FIRE PLACE IN UNIT No

Smith Street Park Aerial Map | 10

Smith Street Park | Com

mon Area Am

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Smith Street Park | U

nit Amenities

Smith Street Park | Rent Roll

Rent Roll

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Rent Roll Details

Smith Street Park Rent Roll Details | 14

Unit Nbr Square Feet UnitMix Monthly Rent PSF Move-in Date Notes2BR Units 9,800 2 bd / 1 ba $67,200 $6.863BR Units 17,920 3 bd / 2 ba $67,200 $3.754BR Units 19,200 4 bd / 2 ba $72,000 $3.75

Smith Street Park | Financial Analysis

Financial Analysis

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Income & Expense

Smith Street Park Income Analysis | 16

INCOME CURRENT MARKETTotal Operating Expense $39,484 $39,484Net Operating Income $166,916 ($39,484)

Smith Street Park Expense Analysis | 17

EXPENSE CURRENT MARKET % of EGI(Current) % of EGI(Market)Insurance $7,241 $7,241 3.50% 0.00%Management Fee $19,195 $19,195 9.29% 0.00%Repairs & Maintenance $9,598 $9,598 4.65% 0.00%Utilities $900 $900 0.43% 0.00%Other Expenses $2,000 $2,000 0.96% 0.00%Total Operating Expense $39,484 $39,484 19.12% 0.00%Expense Per Unit $918.23 $918.23Expense Per SF $8.23 $8.23

Smith Street Park

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