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BURGER KING1 7 0 0 W R E E L F O O T A V E N U E | U N I O N C I T Y, T N 3 8 2 6 1

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E X E C U T I V E S U M M A R Y

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K y l e M at t h e w sBROKER OF RECORD

LIC # 263667

G a r y c h o u

FVP & Senior Director

Gary.Chou@matthews.comDIR (310) 919-5827MOB (714) 928-8016LIC # 01911222

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LONG TERM STABILIZED INVESTMENT

• Long Term Lease – There are 18.5 years remaining on the original 20-year lease with two (2), 5-year options for the tenant to extend

• Excellent Hedge Against Inflation – There are 10% increases in rent every 5 years allowing properties to keep up with rising market rents

• Attractive Tax Benefits – Ownership includes land and improvements, allowing owners to depreciate the improvements over a 39-year depreciation schedule

• Absolute NNN Lease – Landlord has zero landlord responsibilities, the tenant takes care of insurance, real estate taxes, and maintenance

• Exceptional Sales Growth – This site has seen explosive sales growth over the past three years

EXCELLENT LOCATION IN STRONG RETAIL AREA

• Tax Free State – Tennessee is one of 8 states out of 50 that has no state income taxes – great investment for those also living in tax free states or those who do not want to file taxes in other states

• Dense Retail Corridor – Other national tenants in the immediate area include Walmart Supercenter, Taco Bell, Shell, Regions Bank, JC Penney, and Arby’s, amongst others

• Healthy Traffic Counts – W Reelfoot Ave supports over 17,000 VPD

SEASONED OPERATOR OF AN EXCELLENT BRAND

• Strong Guarantee – Over 40 units with considerable history of successful operations back the tenant and guaranty on the lease

• Seasoned Operator – Headed by Ray Meeks, recipient of multiple Franchisee of the Year awards and a franchisee since 1984, Cambridge Franchise Holdings has 100+ units under management and has a strong strategy for continued growth

• Iconic Brand – Burger King has over 15,000 units worldwide and has been one of the most successful burger chains in the world since 1954

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B u r g e r K i n g , U n i o n C i t y , T N | 7

B u r g e r K i n g1700 W Reelfoot AvenueUnion City, TN 38261

List Price .......................................................................................................... $1,423,000

CAP Rate - Current .................................................................................................. 5.75%

Gross Leasable Area ......................................................................................± 3,723 SF

Lot Size ....................................................................................± 0.73 Acres (31,799 SF)

Year Built / Renovated ................................................................................. 1998 / 2016

Annualized Operating DataMonthly Rent Annual Rent Rent/SF Increases

Current $6,817.75 $81,813 $21.98 5.75%

Second Rent Period $7,499.53 $89,994 $24.17 6.32%

Third Rent Period $8,249.48 $98,994 $26.59 6.96%

Fourth Rent Period $9,074.43 $108,893 $29.25 7.65%

Tenant Summary

Tenant Trade Name Burger King

Type of Ownership Fee Simple

Lease Guarantor Franchisee (MIC/Tennessee Quality LLC)

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 20 Years

Lease Commencement Date 1/6/2016

Rent Commencement Date 1/6/2016

Lease Expiration Date 1/5/2036

Term Remaining on Lease ± 18.5 Years

Increases10% Increases every 5 years in base term, CPI

increases in options

Options Two, 5-Year Options

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Cambridge Franchise Holdings is led by Ray Meeks (CEO), a 30-year Burger King Franchisee and seasoned restaurant operator. He has been the recipient of several Burger King Awards such as the Franchisee of the Year, the Burger King Development, Excellence, and Leadership Award, the Burger King National Award of Excellence, and the Burger King National Brand Leadership Award. Ray has also served as Vice Chairman of the National Franchise Association, which represents Burger King Franchisees across the country and Canada. The company currently operates 100+ locations all over the Southeastern states. Their outstanding track record has allowed Cambridge Franchise Holdings to be recognized as one of the fastest growing and most profitable Burger King franchisees in the Burger King network. They have achieved this with a strong management team, a culture of partnership among all of its employees and healthy financial support from Garnett Station. The company plans to continue growth and expansion through the Southeast through development of new restaurants and acquisitions.

Mirabile Investment Corp (MIC) is owned and operated by Cambridge Franchise Holdings and has 40+ locations with long operating history and above average sales numbers. A large majority of the MIC stores have been renovated in the past 4-5 years.

For further information or questions, please contact Gary Chou.

Parent CompanyCambridge Franchise Holdings /

Mirabile Investment Corp

Number of Locations 110 Units

Ownership Private

Headquartered Memphis, TN

Website http://www.garnettstation.com/burger-king/

Year Founded 2014

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Property Name Burger King

Property Address1700 W Reelfoot Avenue

Union City, TN 38261

Assessor’s Parcel Number 066059 01414

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ConstructionFoundation Concrete Slab

Framing Wood

Exterior Masonry

Parking Surface Asphalt

Roof Flat

Site DescriptionNumber of Stories One

Year Built / Renovated 1998 / 2016

Gross Leasable Area (GLA) ± 3,723 SF

Lot Size ± 0.73 Acres (31,799 SF)

Type of Ownership Fee Simple

Parking ± 50 Surface Spaces

Parking Ratio 13.43 : 1,000 SF

Landscaping Professional

Topography Generally Level

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S u r r o u n d i n g T e n a n t s

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Union City, the county seat of Obion County, is located in Northwest Tennessee. Union City is a small town that is 22% below the national cost of living. Obion County is a part of the Union City, TN-KY Micropolitan Statistical Area. Obion County and the Northwest Tennessee Human Resource Agency is determined to increase the quality of life for its residents and puts a large focus into volunteerism and finding gainful employment and increase activity for older residents in the community.

Union City’s major point of attraction is the Discovery Park of America. The mission of the Discovery Park of America is “to enhance the educational experience of children and adults and to inspire them to see beyond their current level of knowledge.” The Park is a museum, park and outdoor recreation site for all ages. Guests come to take in the history, nature, art and science of the welcoming environment that the park has to offer. While Union City is a few hours from other major Tennessee cities, Discovery Park and the $80 million dollars that went into developing this site has put the small town of Union City on the map. The park has been referred to as a “mini Smithsonian,” with the opening of the attraction in 2013 the area has had to allow for more hotels and restaurants to accommodate visitors in town.

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U n i o n C i t y d e m o g r a p h i c s

POPULATION 3 Mile 5 Mile 10 Mile

2022 Projection 9,279 13,633 21,056

2017 Estimate 9,379 13,776 21,297

2010 Census 9,798 14,357 22,213

2000 Census 9,552 14,356 22,438

HOUSEHOLDS 3 Mile 5 Mile 10 Mile

2022 Projection 3,833 5,664 8,646

2017 Estimate 3,880 5,722 8,739

INCOME 3 Mile 5 Mile 10 Mile

2017 Est. Average Household Income

$49,338 $53,151 $54,079

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Te n a n t N a m e , C i t y , S t a t e | 1 3B u r g e r K i n g , U n i o n C i t y , T N | 1 3

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Burger King located at 1700 W Reelfoot Avenue, Union City TN 38261. I t has been prepared by Matthews Retai l Advisors. This Offer ing Memorandum may not be al l - inclusive or contain a l l of the informat ion a prospect ive purchaser may desire. The informat ion contained in th is Offer ing Memorandum is conf ident ia l and furnished solely for the purpose of a review by a prospect ive purchaser of the Property. I t is not to be used for any other purpose or made avai lable to any other person without the wri t ten consent of Sel ler or Matthews Retai l Advisors. The mater ia l is based in part upon informat ion suppl ied by the Sel ler and in part upon f inancial informat ion obtained from sources i t deems rel iable. Owner, nor their of f icers , employees, or agents makes any representat ion or warranty, express or impl ied, as to the accuracy or completeness of th is Offer ing Memorandum or any of i ts contents and no legal l iabi l i ty is assumed or shal l be impl ied with respect thereto. Prospect ive purchasers should make their own project ions and form their own conclusions without rel iance upon the mater ia l contained herein and conduct their own due di l igence.

By acknowledging your receipt of th is Offer ing Memorandum for the Property, you agree:

1 . The Offer ing Memorandum and i ts contents are conf ident ia l ;

2 . You wi l l hold i t and treat i t in the str ictest of conf idence; and

3. You wi l l not , d i rect ly or indirect ly, d isclose or permit anyone else to disclose this Offer ing Memorandum or i ts contents in any fashion or manner detr imental to the interest of the Sel ler.

Owner and Matthews Retai l Advisors expressly reserve the r ight , at their sole discret ion, to reject any and al l expressions of interest or of fers to purchase the Property and to terminate discussions with any person or ent i ty reviewing this Offer ing Memorandum or making an of fer to purchase the Property unless and unt i l a wr i t ten agreement for the purchase and sale of the Property has been ful ly executed and del ivered.

I f you wish not to pursue negot iat ions leading to the acquis i t ion of the Property or in the future you discont inue such negot iat ions, then you agree to purge al l mater ia ls relat ing to th is Property including this Offer ing Memorandum.

A prospect ive purchaser ’s sole and exclusive r ights with respect to th is prospect ive t ransact ion, the Property, or informat ion provided herein or in connect ion with the sale of the Property shal l be l imited to those expressly provided in an executed Purchase Agreement and shal l be subject to the terms thereof. In no event shal l a prospect ive purchaser have any other c la ims against Sel ler or Matthews Retai l Advisors or any of their af f i l iates or any of their respect ive of f icers , Directors , shareholders, owners, employees, or agents for any damages, l iabi l i ty, or causes of act ion relat ing to th is sol ic i tat ion process or the market ing or sale of the Property.

This Offer ing Memorandum shal l not be deemed to represent the state of af fa i rs of the Property or const i tute an indicat ion that there has been no change in the state of af fa i rs of the Property s ince the date this Offer ing Memorandum.

C O N F I D E N T I A L I T Y & D I S C L A I M E R S TAT E M E N T

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Burger King1 7 0 0 W R e e l f o o t A v e n u e | U n i o n C i t y, T N 3 8 2 6 1

K y l e M at t h e w sBROKER OF RECORD

LIC # 263667

G a r y c h o u

FVP & Senior Director

Gary.Chou@matthews.comDIR (310) 919-5827MOB (714) 928-8016LIC # 01911222

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