Dunkin’ Donuts

Steve Tanner Senior Vice President - Orlando D: 407.440.6652 E: steve.tanner@

NNN ABSOLUTE LEASED OFFERING

Dunkin' Donuts

920 W SR 44 | Wildwood, FL

Timothy Garito Principal D: 321.848.8269 E: tim@

Partnership. Performance.

Partnership. Performance.

DISCLOSURE

This confidential Offering Memorandum was prepared by Garito and Company, LLC and Avison Young - Florida, LLC. It contains selected information pertaining to the Property and does not purport to be all-inclusive, nor to contain all the information that a prospective investor may desire. This presentation is not an offer to sell or a solicitation to buy any securities, and is subject; to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, or advice as to the actual return on this investment.

Except for any historical information, such matters discussed herein are forward-looking statements that are subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, and could result in the loss of principal. Each prospective investor is to rely upon its own investigation, evaluation and judgment as to the advisability of the investment described herein.

Sources of information contained within this Offering Memorandum came from: CoStar, Integrated Realty Resources, Google, Esri and the US Census Bureau.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. The Owner shall have no legal commitment or obligation to any investor or Broker reviewing this Offering Memorandum or making an offer to invest in the Property unless a written agreement has been fully executed, delivered, and approved by the Owner and any conditions to Owner's obligations thereunder have been satisfied or waived.

This Offering Memorandum is the property of Garito and Company, LLC and Avison Young - Florida, LLC and may only be used by parties approved by Garito and Company, LLC and Avison Young - Florida, LLC. The Property is being privately offered and by accepting this Offering Memorandum, the party in possession hereof agrees that its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior written authorization of Garito and Company, LLC and Avison Young - Florida, LLC and Owner. The terms and conditions set forth apply to this Offering Memorandum in its entirety.

LOI GUIDELINES

Closing Costs: Closing costs will be divided as customary and included in the contract.

PURCHASE CONTRACT:

Seller will prepare the purchase and sale agreement.

TRANSACTION:

? "As-Is, Where-Is" sale; Representations and Warranties Shall not survive closing.

? Due Diligence period : 30 days or less

? Closing Period: 30 days or less

? Seller will provide personal financial statements and draft of proposed lease after fully executed LOI

OFFERED EXCLUSIVELY BY:

Steve Tanner Senior Vice President - Orlando D 407.440.6652 steve.tanner@ 135 W. Central Boulevard Suite 700 Orlando, FL 32801 United States Avison Young ? Florida, LLC

Timothy Garito Principal 321.848.8269 tim@ 1501 E Michigan St. Orlando, FL 32806 United States Garito & Company,LLC

OFFERING SUMMARY

INTRODUCTION

Garito and Company and Avison Young's Capital Markets Group are pleased to offer for sale a 100% fee simple interest the newly constructed, free-standing Dunkin' Donuts with drive-thru located at 920 W SR 44, Wildwood, Florida. The location will be open April 2018 and will be sold with a 20 year NNN lease term. The Property is strategically located on the highly traveled I-75 (40,000 AADT) and SR 44 (14,510 AADT).

INVESTMENT HIGHLIGHTS

Long Lease Term ? The Property will be sold with a new 20 year primary lease term

High Traffic Area ? The Property is located near the intersection of I-75 and the Florida Turnpike, two of

Florida's main thoroughfares

Strategic Location ? State Road 44 is the western entrance to The Villages, one of the nations largest and

fastest growing age-restricted communities in the U.S.

Great Visibility ? The Property is easily accessible from State Road 44

Traffic Generating Neighbors ? Other restaurants in the area include: McDonalds, Wendy's, Zaxby's, Burger King,

Waffle House, Steak & Shake and Popeye's

Strong Guarantee ? The lease will be personally guaranteed by an operator, one of the largest Dunkin'

Donuts operators in the US New Construction ? The building is expected to be completed in April 2018

SITE SPECIFICATIIONS

Address: Total GLA:

920 W SR 44, Wildwood, FL 34785 2,000 sf

Site Area:

1 +/- ac

Lease Expiration:

2038

Increases: Options:

8.00% every five years Four (five year options)

PRICING

Tenant Name: Franchisee: Grantor: Ownership Type/Lease Type: Landlord Responsibilities: Store Opening: Lease Term Remaining: Price:

Dunkin' Donuts Carlos Andrade Group Personal guarantee Fee Simple/NNN None April 2018 20 Years $1,200,000

Year-One NOI:

$60,000

Cap Rate:

5.00%

*Tenant can assign without consent to any Dunkin' approved franchisee

DUNKIN' DONUTS | INVESTMENT OFFERING

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FINANCIAL SUMMARY

DUNKIN' DONUTS | ABSOLUTE NNN LEASE OFFERING

920 W SR 44, Wildwood, FL 34785 $1,200,000 5.00% CAP Fee Simple Ownership

SUMMARY

Tenant Name: Square Footage: Store Opens: Lease Term Remaining: Rent Commencement: Annual Rent: Options: Increases: Lease Expiration:

Dunkin' Donuts 2,000 sf April 2018 ( Estimated) 20 Years Close of escrow $60,000 Four (5 year) 8.00% every 5 years 2038

OPERATING SUMMARY

Net Operating Income

Years 1-5

$60,000

Years 6-10

$64,800

Years 11-15

$69,984

Years 16-20

$75,583

Option 1

$81,629

Option 2

$88,160

Option 3

$95,212

Option 4

$102,829

CAP Rate 5.00% 5.40% 5.83% 6.30% 6.80% 7.35% 7.93% 8.57%

WILDWOOD SITE PLAN DUNKIN' DONUTS

STATE ROAD 44

DUNKIN' DONUTS | INVESTMENT OFFERING

PROPOSED PROPOSED CR-229

CR-232A

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PEOPLE & DEMOGRAPHICS

POPULATION

Est. Population (2017) Proj. Population (2022) Proj. Annual Population Growth (2017-2022) Est. Households (2017) Proj. Households (2022) Proj. Annual Household Growth (2017-2022) Median Age

HOUSEHOLD INCOME

Est. Avg. Household Income (2017) Proj. Average Household Income (2022) Est. Median Household Income (2017) Proj. Median Household Income (2022)

EDUCATION

Any College (Some College or Higher) College Degree + (Bachelor Degree or Higher)

WORKFORCE

Total Businesses No. of Employees White Collar Workers Blue Collar Workers

HOUSING

Owner-Occupied Median Home Value Renter-Occupied Median Rent Housing Units Owner-Occupied Housing Units Renter-Occupied

1 MILE

2,832 3,349 517 (3.6%) 1,184 1,449 265 (4.5%) 57.3

3 MILE

21,994 25,436 3,443 (3.1%) 10,998 13,170 2,173 (4.0%)

64.9

5 MILE

73,252 84,346 11,094 (3.0%) 36,763 43,899 7,137 (3.9%)

66.2

$56,514 $55,500 $46,318 $53,830

$74,802 $76,357 $59,111 $69,163

$76,927 $78,717 $61,181 $71,800

56.8% 28.3%

64.8% 34.4%

64.8% 34.4%

167 2,121 60.5% 39.5%

489 6,341 60.8% 39.2%

1,354 17,339 61.3% 38.7%

$226,825 $1,855 87.0% 13.0%

$218,333 $838 92.7% 7.3%

$241,062 $823 94.6% 5.4%

SUMTER

198,300 227,919 29,618 (3.0%) 87,565 100,364 12,798 (2.9%)

55.2

FLORIDA

20,600,000 22,600,000 1,988,319 (1.9%) 8,216,632 8,.669,057 452,452 (1.1%)

41.0

$63,777 $68,139 $52,056 $61,446

$72,504 $89,263 $52,516 $61,586

54.4% 24.6%

58.5% 28.4%

4,865 49,891 55.4% 44.6%

877,384 8,729,684

61.4% 38.6%

$176,557 $709 85.7% 14.3%

$180,290 $887 66.6% 33.4%

* Source: Regis 2017 Report

DUNKIN' DONUTS | INVESTMENT OFFERING

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