EXCLUSIVE OFFERING | $1,111,000 / 6.70% CAP

Dollar general | S&P Rating BBB-

339 State Hwy 44, Burns Flat, OK

SUBJECT PROPERTY

214.915.8890

JOE CAPUTO

joe@exp1031.com

BOB MOORHEAD

bob@exp1031.com

RUSSELL SMITH

russell@exp1031.com

property. 9,002+ SF building on 1.04+ acres. Metal Construction, Concrete Block Façade, Concrete Parking Lot.

tenant. S&P Rated BBB-, Operates 11,132 stores in 40 states. Ranked 175th within the Fortune 500 Companies. Fiscal 2013 revenues exceeded $17.5 billion.

lease structure. Corporate, 15-year, NNN lease beginning November 2012 with 10% rent bumps at the beginning of each option period.

location. Dollar General is located along State HWY 44 which provides access to Interstate 40 (north) and Oklahoma 152 (south). The subject property is 20-

miles southeast of Elk City, accessed via State HWY 44 and Interstate 40. This location provides the site with the unique advantage of serving as a local

commerce hub through its vicinity to major thoroughfares and regional economic centers. Tenants in the immediate trade area include Halliburton, Conoco,

Western Technology Center, Bird Equipment, Great Plains National Bank, Burns Flats/Dill City School District, Will Rogers Grade School, Burns Flats Hardware,

Keith’s Custom Processing, and others. Also, the Clinton-Sherman Airport is located 1.6 miles west of the site. Burns Flat is located 100-miles west of Oklahoma

City, OK.

EXP Realty Advisors, Inc. (“Agent”) has been engaged as an agent for the sale of the

property located along 339 State Hwy 44, Burns Flat, OK by the owner of the Property

(“Seller”). The Property is being offered for sale in an “as-is, where-is” condition and Seller

and Agent make no representations or warranties as to the accuracy of the information

contained in this Offering Memorandum. The enclosed materials include highly confidential

information and are being furnished solely for the purpose of review by prospective

purchasers of the interest described herein. The enclosed materials are being provided

solely to facilitate the prospective investor’s own due diligence for which it shall be fully and

solely responsible. The material contained herein is based on information and sources

deemed to be reliable, but no representation or warranty, express or implied, is being made

by Agent or Seller or any of their respective representatives, affiliates, officers, employees,

shareholders, partners and directors, as to the accuracy or completeness of the information

contained herein. Summaries contained herein of any legal or other documents are not

intended to be comprehensive statements of the terms of such documents, but rather only

outlines of some of the principal provisions contained therein. Neither the Agent nor the

Seller shall have any liability whatsoever for the accuracy or completeness of the

information contained herein or any other written or oral communication or information

transmitted or made available or any action taken or decision made by the recipient with

respect to the Property. Interested parties are to make their own investigations, projections

and conclusions without reliance upon the material contained herein. Seller reserves the

right, at its sole and absolute discretion, to withdraw the Property from being marketed for

sale at any time and for any reason. Seller and Agent each expressly reserves the right, at

their sole and absolute discretion, to reject any and all expressions of interest or offers

regarding the Property and/or to terminate discussions with any entity at any time, with or

without notice. This offering is made subject to omissions, correction of errors, change of

price or other terms, prior sale or withdrawal from the market without notice. Agent is not

authorized to make any representations or agreements on behalf of Seller. Seller shall

have no legal commitment or obligation to any interested party reviewing the enclosed

materials, performing additional investigation and/or making an offer to purchase the

Property unless and until a binding written agreement for the purchase of the Property has

been fully executed, delivered, and approved by Seller and any conditions to Seller’s

obligations hereunder have been satisfied or waived. By taking possession of and

reviewing the information contained herein, the recipient agrees that (a) the enclosed

materials and their contents are of a highly confidential nature and will be held and treated

in the strictest confidence and shall be returned to Agent or Seller promptly upon request;

and (b) the recipient shall not contact employees or tenants of the Property directly or

indirectly regarding any aspect of the enclosed materials or the Property without the prior

written approval of the Seller or Agent; and (c) no portion of the enclosed materials may be

copied or otherwise reproduced without the prior written authorization of Seller and Agent.

LISTED IN ASSOCIATION WITH OKLAHOMA BROKER OF RECORD:

GLM COMMERCIAL PROPERTIES, LLC | LICENSE# 120857

Disclaimer

PAGE 3: INVESTMENT OVERVIEW

PAGE 1: COVER

PAGE 2: TABLE OF CONTENTS | DISCLAIMER

PAGE 6-7: LOCATION MAPS

PAGE 8: DEMOGRAPHICS

Table of contents | Disclaimer Dollar General

339 State Hwy 44, Burns Flat, OK

PAGE 4: AERIAL PHOTO

PAGE 5: LOCATION OVERVIEW

SUBJECT PROPERTY

PRICE / CAP: $1,111,000 / 6.70%

NET OPERATING INCOME: $74,412

BUILDING AREA: 9,002+ Square Feet

LAND AREA: 1.04+ Acres

YEAR BUILT: 2012

OWNERSHIP: Fee Simple Interest

OCCUPANCY: 100%

CONSTRUCTION TYPE: Metal Construction, Concrete

Block Façade, Concrete

Parking LotTenant overview

3

Investment overviewDollar General

339 State Hwy 44, Burns Flat, OK

Lease Expiration: November 2027

Rent Commencement: November 2012

Initial Lease Term: 15-Years, Plus 4, 5-Year Options to Renew

Rent Increases: 10% in Option Periods

Year 1-15 Annual Rent (Current): $74,412

Lease Type: NNN

Year 16-20 Annual Rent (Option 1): $81,852

Lease overview

Year 21-25 Annual Rent (Option 2): $90,036

CORPORATE GUARANTY: Dollar General Corporation

LESSEE: Dolgencorp of Texas, Inc.

Dollar General | www.dollargeneral.com | S&P Rating BBB- (upgraded from BB+ in April, 2012)

Cal Turner founded J. L. Turner & Son, Inc. in 1939, and opened the first Dollar General store in Scottsville, Kentucky in June 1955. Today, Dollar General

Corporation operates as the country’s largest small-box discount retailer with stores in the southern, southwestern, midwestern, and eastern United States. The

stores are typically located in local neighborhoods and small communities deemed “too small” for big-box retailers. Dollar General offers both name-brand and

generic merchandise—including off-brand goods and closeouts of name-brand items. Although it has the word “dollar” in the name, Dollar General is not a dollar

store. Many of its offerings are priced at more than one dollar. However, goods are usually sold at set price points of penny items and up to the range of 50 to 60

dollars, not counting phone cards and loadable store gift cards. The company provides paper and cleaning products (paper towels, bath tissues, paper

dinnerware, trash and storage bags, laundry, and other home cleaning supplies), packaged food and perishables (cereals, canned soups and vegetables, sugar,

flour, milk, eggs, and bread), beverages, snacks (such as candies, cookies, crackers, salty snacks, and carbonated beverages), over-the-counter medicines,

personal care products (soap, body wash, shampoo, dental hygiene, and foot care products), pet supplies and pet food products, seasonal products (decorations,

toys, batteries, small electronics, greeting cards, and stationery) prepaid cell phones and accessories, gardening supplies, hardware, automotive, home office

supplies, home products (kitchen supplies, cookware, small appliances, light bulbs, storage containers, frames, candles, and craft supplies, as well as kitchen,

bed, and bath soft goods), and casual, everyday apparel (for infants, toddlers, girls, boys, women, and men, as well as socks, underwear, disposable diapers,

shoes, and accessories). Since the turn of the century, Dollar General has added stores that carry a greater selection of grocery items, which operate under the

name “Dollar General Market”.

In 2007 Kohlberg Kravis Roberts & Co. (KKR) acquired Dollar General, privatized the company for restructuring, and took the company public again in 2009. As of

January 1, 2014, Dollar General operated 11,132 stores in 40 states. The company ranks 175th within the Fortune 500 Companies. Fiscal 2013 revenues

exceeded $17.5 billion (up 9.2% from 2012) with profits of $1,736.2 million. The company’s current market value is estimated to be $18.41 billion.

Year 26-30 Annual Rent (Option 3): $99,048

Year 31-35 Annual Rent (Option 4): $108,948

5

Aerial photoDollar General

339 State Hwy 44, Burns Flat, OK

E 1140 Rd

Clinton-Sherman

Airport

Keith's Custom Processing

Auto Garage

Burns Flats

Dill City

School

District

Burns Flats

Hardware

Holcomb Field -

Eagles

Bird

Equipment

Western

Technology

Center Great Plains

National Bank

Self Storage

First Baptist Church

Cumberland

Presbyterian

Church

Will Rogers

Grade

School

IMMEDIATE TRADE AREA

Dollar General is located along State HWY 44 which provides access to

Interstate 40 (north) and Oklahoma 152 (south). The subject property is 20-

miles southeast of Elk City, accessed via State HWY 44 and Interstate 40. This

location provides the site with the unique advantage of serving as a local

commerce hub through its vicinity to major thoroughfares and regional

economic centers.

Tenants in the immediate trade area include Halliburton, Conoco, Western

Technology Center, Bird Equipment, Great Plains National Bank, Burns

Flats/Dill City School District, Will Rogers Grade School, Burns Flats Hardware,

Keith’s Custom Processing, and others. Also, the Clinton-Sherman Airport is

located 1.6 miles west of the site.

BURNS FLAT, OK

Burns Flat is a town in Washita County, Oklahoma. The population was 2,057

at the 2010 census. It is located approximately 20 miles southeast from Elk

City.

ELK CITY, OK

Elk City is a city in Beckham County, Oklahoma, United States. The population

was 11,693 at the 2010 census. The city’s population, from the 2012 census

was 12,251. Elk City is located on Interstate 40 and Historic U.S. Route 66 in

Western Oklahoma, approximately 110 miles west of Oklahoma City and 150

miles east of Amarillo.

Today, Elk City is the principal center of trade for Western Oklahoma and much

of the Texas Panhandle, with a 60-mile trade radius that serves more than

50,000 people. Petroleum, agriculture, wind energy, transportation, tourism,

manufacturing and healthcare all contribute to Elk City’s economy.

OKLAHOMA CITY MSA

The Oklahoma City Metropolitan Statistical Area (MSA) is a large urban region

located in the central part of the State of Oklahoma and currently has a

population of 1,322,429.

It is often known as Oklahoma City Metro and contains the state capital and

principal city, Oklahoma City which has a population of 591,967. Seven

counties make up the Oklahoma City Metro Area: Canadian, Cleveland, Grady,

Lincoln, Logan, McClain, and Oklahoma.

The diversified economy of Oklahoma City includes information technology,

general services, health services, and administration sectors in addition to the

energy and government sector mainstays. The city has two Fortune 500

companies: Devon Energy Corporation and Chesapeake Energy Corporation,

several others that are in the Fortune 1000 and a number of large privately

owned companies. Oklahoma City is home to the corporate headquarters of

Sonic Drive-In, whose office building and corporate restaurant is located in

Bricktown, an intown neighborhood that has undergone a renaissance in the

last decade. Devon Energy began construction in 2009 on a new 844-foot tall,

1,800,000 SF headquarters building in downtown Oklahoma City. The new

skyscraper was completed in March 2012. Continental Resources moved

more than 250 employees from Enid to its new headquarters in downtown

Oklahoma City in 2012. Other large employers in Oklahoma City Metro include

McKesson Corp., Tinker Air Force Base, the University of Oklahoma, the

University of Central Oklahoma, American Fidelity, AT&T, AAA, Bank of

America, Bank of Oklahoma, The Boeing Company, Braum's, Dell, The

Farmer's Insurance, The Hartford, JP Morgan Chase, Mercy Heath System,

Sprint/Nextel, St. Anthony Health System, Williams-Sonoma, Xerox, United

Parcel Service, Cox, and the State of Oklahoma. The University of Oklahoma

in Norman which is home to 30,303 students and an academic staff of 2,937

provides additional diversification to the regional economy.

According to the Oklahoma City Chamber of Commerce, the metropolitan

area's economic output grew by 33 percent between 2001 and 2005 due chiefly

to economic diversification. Its gross metropolitan product was $43.1 billion in

2005 and grew to $61.1 billion in 2009. In 2008, Forbes magazine named

Oklahoma City the most "recession proof city in America". The magazine

reported that the city had falling unemployment, one of the strongest housing

markets in the country, and solid growth in the energy, agricultural, and

manufacturing sectors.

6

Location overviewDollar General

339 State Hwy 44, Burns Flat, OK

7

Location mapDollar General

339 State Hwy 44, Burns Flat, OK

8

Location mapDollar General

339 State Hwy 44, Burns Flat, OK

DEMOGRAPHIC SNAPSHOT

9

DemographicsDollar General

339 State Hwy 44, Burns Flat, OK

DOWNTOWN OKLAHOMA CITY, OK

T. BOONE PICKENS STADIUM, STILLWATER, OK

Radius 0-3 Miles 0-5 Miles 0-10 Miles

Population:

2019 Projection 2,418 3,233 4,688

2014 Estimate 2,309 3,121 4,556

2010 Census 2,235 3,053 4,485

Growth 2000-2010 14.35% 10.92% 8.25%

Growth 2010-2014 3.29% 2.22% 1.58%

Households:

2019 Projection 854 655 3,122

2014 Estimate 817 652 3,084

2010 Census 792 654 3,069

Growth 2000 – 2010 15.25% 9.54% 10.34%

Growth 2010 – 2014 3.13% 3.28% 2.67%

Growth 2014 – 2019 4.55% 3.28% 2.67%

2014 Est. Population by Single Classification Race 2,309 3,121 4,556

White Alone 1,811 2,497 3,757

Black or African American Alone 96 96 101

American Indian and Alaska Native Alone 83 106 149

Asian Alone 12 14 20

Native Hawaiian and Other Pacific Islander Alone 0 0 1

Some Other Race Alone 107 138 178

Two or More Races 200 270 350

2014 Est. Average Household Income $54,805 $56,198 $57,712

2014 Est. Median Household Income $46,887 $46,211 $46,495