Christian Brothers Automotive - Brandon, FL

BRANDON, FL

PRI CING & F INAN CI AL AN ALYSI S

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

Christian Brothers Automotive 10010 McMullen Rd Brandon, FL 33569

ANNUALIZED OPERATING DATA

OFFERING SUMMARY Price Cap Rate Net Operating Income Year Built Gross Leasable Area Lot Size

$2,980,000

Years

Commencement

Annual Rent

Increase

6.00%

1

8/1/2014

$168,600

-

$178,946

2

8/1/2015

$171,129

1.50%

2013

3

8/1/2016

$173,696

1.50%

4,945 SF

4

8/1/2017

$176,301

1.50%

0.89 Acres

5

8/1/2018

$178,946

1.50%

6

8/1/2019

$181,630

1.50%

7

8/1/2020

$184,355

1.50%

LEASE SUMMARY Lease Term

15 Years

8

8/1/2021

$187,120

1.50%

Lease Commencement

8/1/2014

9

8/1/2022

$189,927

1.50%

Lease Expiration

7/31/2029

10

8/1/2023

$192,776

1.50%

Remaining Term

10+ Years

11

8/1/2024

$195,667

1.50%

NNN

12

8/1/2025

$198,602

1.50%

Tenant

13

8/1/2026

$201,581

1.50%

1.5% Annual Increases

14

8/1/2027

$204,605

1.50%

5 x 10 Year

15

8/1/2028

$207,674

1.50%

Lease Type Roof & Structure Increases Options Options to Purchase

None

NET OPERATING INCOME

$178,946

F I N A N C I A L A N A LY S I S

2

PRI CING & F INAN CI AL AN ALYSI S

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

PORTFOLIO SUMMARY This Property may be purchased individually or as part of a portfolio

PROPERTY

ADDRESS

CITY

STATE

PRICE

NOI

CAP RATE

1

Stonebridge Pediatrics

5561 Virginia Pkwy

McKinney

TX

$3,800,000

$256,477

6.75%

2

McKinney Two-Tenant Strip

1980 N Central Expy

McKinney

TX

$2,450,000

$165,459

6.75%

3

Cash America Pawn

5016 Lemmon Ave

Dallas

TX

$2,025,000

$106,260

5.25%

4

BlueWave Express Wash

1665 Eldridge Pkwy

Houston

TX

$5,050,000

$341,000

6.75%

5

Christian Brothers Automotive

7937 Westheimer Rd

Houston

TX

$3,080,000

$184,677

6.00%

6

Christian Brothers Automotive

10010 McMullen Rd

Brandon

FL

$2,980,000

$178,946

6.00%

7

Kirby’s Steakhouse

3305 E State Hwy 114

Southlake

TX

$4,080,000

$265,000

6.50%

8

BlueWave Express Wash

9801 Jones Rd

Houston

TX

$4,400,000

$297,000

6.75%

9

Target Strip on LBJ

5631 LBJ Fwy

Dallas

TX

$4,425,000

$399,000 (1)

10

Bexar County Office Building

2711 SE Loop 410

San Antonio

TX

$3,790,000 (2)

$283,092

8.00%

11

ABA North Texas

6200 Virginia Pkwy

McKinney

TX

$1,830,000

$127,818

7.00%

12

Multi-Tenant Office Building

1405-1415 Halsey Way

Carrollton

TX

$3,910,000

$312,574

8.00%

13

Little Sunshine’s Playhouse

600 Zena Rucker Rd

Southlake

TX

$3,960,000

$267,000

6.75%

14

Little Sunshine’s Playhouse

1501 Lohmans Crossing

15

Hooters

4384 Sherwood Way

16

Little Sunshine’s Playhouse

8030 Branch Crossing

17

Car Spa

18

9.00% (1)

Lakeway

TX

$4,630,000

$312,300

6.75%

San Angelo

TX

$3,480,000

$200,000

5.75%

The Woodlands

TX

$5,325,000

$359,349

6.75%

5028 W Park Blvd

Plano

TX

$6,740,000

$455,000

6.75%

Service King

4205 W Plano Pkwy

Plano

TX

$6,785,000

$424,000

6.25%

19

Fireside Pies

1285 S Main St

Grapevine

TX

$2,640,000

$178,196

6.75%

20

Winewood Grill

1265 S Main St

Grapevine

TX

$4,225,000

$285,000

6.75%

$79,605,000

$5,398,148

6.76%

TOTAL (1) NOI and Cap Rate is based on Pro Forma (2) Sale price includes $250,000 of amortized T.I.

F I N A N C I A L A N A LY S I S

3

TE NA NT OVERV I EW

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

COMPANY SUMMARY

Christian Brothers Automotive was founded in 1982 because there was a void in the auto repair industry. Customer service and honest, genuine auto repair service was tough to find. They haven’t changed their focus in thirty years. They still have some of the original employees on board, and they still believe that it’s possible to provide the best auto repair service with the best customer service. In 2008, Christian Brothers announced a growth initiative that would take their brand to approximately 175 stores throughout the southeast, lower midwest and southwest United States by 2017.

Company

Christian Brothers Automotive

Ownership

Private

Market Cap

See Agent for Details

Sales Volume

See Agent for Details

Number of Locations

180+

Years in Business

35+ Years

Headquarters

Houston, TX

Website

www.cbac.com

F I N A N C I A L A N A LY S I S

4

I N VE S TMENT HI GHLI GHT S

• Long-Term Absolute Triple-Net Lease

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

SNAPSHOT

• Zero Landlord Responsibility • 15-Year Primary Term with Options up to 65 Years • One and One-Half Percent Annual Rent Escalations • Unbelievably Strong Store Sales at This Location • Strong Corporate Guarantee - Christian Brothers Started in 1982, is Growing at 15-20 Locations per Year, Currently Has Over 180 Locations and Never Closed a Store

Estimated Vehicles Per Day

Average Household Income

26,000

$96,506

Projected Population Growth 2018-2023

Population: 5 Mile Radius

9.74%

182,988

• Traffic Counts Along Gibsonton Dr/Boyette Rd Exceed 26,000 Vehicles Per Day • P opulation in a 5 Mile Radius Exceeds 182,988 - 18.38% Growth Over the Last 5 Years • Surrounding National Retailers Include Walmart Supercenter, Publix, CVS Pharmacy, Pep Boys, Dollar Tree, Lowe’s, Walgreens, McDonald’s, Subway, Sonic, UPS, Mattress Firm and Many More

PROPERTY DESCRIPTION

5

E L E VATION

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

Note: this is the generic evelation plan for a typical Christian Brothers Automotive location. Actual subject property may vary depending on location.

PROPERTY DESCRIPTION

6

S I T E PL A N

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

Note: this is the generic site plan for all Christian Brothers Automotive locations. Actual subject property may vary depending on location.

PROPERTY DESCRIPTION

7

A E R I AL MA P

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

GIBSONTON DR/BOYETTE RD

26,000 VPD

RIVERVIEW HIGH SCHOOL

PROPERTY DESCRIPTION

8

LO C AL MA P

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

PROPERTY DESCRIPTION

9

M A R KET OVERVI EW

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

Tampa, FL

OVERVIEW Tampa is a major city in, and the county seat of, Hillsborough County, Florida, United States. It is on the west coast of Florida on Tampa Bay, near the Gulf of Mexico, and is the largest city in the Tampa Bay Area. Tampa is part of the metropolitan area most commonly referred to as the “Tampa Bay Area”. For U.S. Census purposes, Tampa is part of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C., and Atlanta. The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas.

Finance, retail, healthcare, insurance, shipping by air and sea, national defense, professional sports, tourism, and real estate all play vital roles in the area’s economy. Major employers include BayCare Health System, Publix Super Market, HCA West Florida and Frontier Communications.

Several Fortune 1000 companies are also headquartered in the metropolitan area, including OSI Restaurant Partners, WellCare, TECO Energy, and Raymond James Financial. Downtown Tampa is undergoing significant development and redevelopment in line with a general national trend toward urban residential development.

As of April 2007, the Tampa Downtown Partnership noted development proceeding on 20 residential, hotel, and mixed-use projects.

Though threatened by tropical systems almost every hurricane season, Tampa seldom feels major effects from tropical storms or hurricanes.

No hurricane has made landfall in the immediate Tampa Bay area since the 1921 Tampa Bay hurricane made landfall near Tarpon Springs and caused extensive damage throughout the region. Tampa’s port is now the seventh largest in the nation and Florida’s largest tonnage port, handling nearly half of all seaborne commerce that passes through the state. Tampa currently ranks second in the state behind Miami in terms of cruise ship travel.

MARKET OVERVIEW

10

D E M OG RA PHIC STAT I ST I CS

CHRI S TI A N B R OT H E R S AU TO M OT IV E - B R AND O N, F L

1 Mile

3 Mile

5 Mile

6,588 6,074 5,584 8.46% 8.78% 977

65,963 60,163 51,188 9.64% 17.53% 12,436

200,820 182,988 154,582 9.74% 18.38% 40,285

4,904 736 31 219 5 177 42

47,471 8,388 345 1,998 112 1,850 404

138,336 30,351 929 7,220 295 5,858 1,454

2,290 2,113 1,948 8.38% 8.47% 1,845 267 $96,506 $82,768

23,548 21,488 18,290 9.59% 17.48% 17,034 4,454 $83,284 $69,052

72,171 65,832 55,862 9.63% 17.85% 47,609 18,223 $85,972 $70,599

198 362 375 391 253 230 180 124

2,858 4,403 4,520 3,879 2,103 1,536 1,236 955

7,966 13,439 13,786 12,033 6,376 4,490 4,582 3,158

Population: 2023 Projection 2018 Estimate 2010 Census Growth 2018-2023 Growth 2010-2018 2018 Population Hispanic Origin

2018 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other U.S. Armed Forces:

Households: 2023 Projection 2018 Estimate 2010 Census Growth 2018 - 2023 Growth 2010 - 2018 Owner Occupied Renter Occupied 2018 Avg Household Income (National Avg - $75,558) 2018 Med Household Income (National Avg - $53,889)

2018 Households by Household Inc: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200,000+ Demographic data © CoStar 2018

MARKET OVERVIEW

11

CONFIDENTIALITY AGREEMENT The information contained in the following offering memorandum is proprietary and strictly confidential.

It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. STRIVE 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, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenantâ&#x20AC;&#x2122;s plans or intentions to continue its occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

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. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Š 2017 STRIVE

Net Lease Disclaimer STRIVE 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, STRIVE has not and will not verify any of this information, nor has STRIVE conducted any investigation regarding these matters. STRIVE 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. STRIVE 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 STRIVE 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.

Information About Brokerage Services

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS: • A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): • Put the interests of the client above all others, including the broker’s own interests; • Inform the client of any material information about the property or transaction received by the broker; • Answer the client’s questions and present any offer to or counter-offer from the client; and • Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary: • Must treat all parties to the transaction impartially and fairly; • May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and • buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

• Must not, unless specifically authorized in writing to do so by the party, disclose: ӽӽ that the owner will accept a price less than the written asking price; ӽӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: • The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Regulated by the Texas Real Estate Commission

Information available at www.trec.texas.gov IABS 1-0

exclusively listed 469.844.8880 | STRIVERE.COM