Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Dan Cooper dcooper@coopergrp.com (888) 525-5695 x12

Bob Havasi bhavasi@coopergrp.com (888) 525-5695 x10

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INVESTMENT SUMMARY

Investment Highlights ………….………… 4

Investment Overview .……………………. 5

Location Overview …………………………. 6

Offering Summary …….………………….… 7

Tenant Overview ………..………………….. 8

PROPERTY ANALYSIS

Aerial Site Plan ……..…………………….…. 10

Aerial Map .………………………...……….…. 11

Location Maps .………………………………. 12

Demographics ..…………………………...…. 13

Disclosure & Confidentiality …..........…. 14

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INVESTMENT HIGHLIGHTS

• Single-Tenant Location with High-Profile, Burger King: Early (2017) 10-Yr. Lease Extension and Low Price Point

• Absolute NNN Lease Leaving New Owner Zero Mgmt. Responsibilities with Burger King’s Largest Franchisee (800+ Locations), Carrols Restaurant Group, Inc.

• 2016: Tenant Paid Complete Renovation to Updated Burger King Prototype, Further Proving the Tenants Success at the Location

• Proven Commitment: Located at the Property Since 1987 with Low Rent to Sales Ratio (5.89%), Increasing Sales and future Upside Available from % Rent

• Ideal Position Less Than 1/2-Mile from Van Wert High School with Newer Performing Art Center and Prominent Pylon Signage

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Burger King - Van Wert, OH

• Positioned on Hard Corner, Outlot to High-Traffic Chiefs Supermarket, Big Lots and Other Complimentary Retailers (Tractor Supply, McDonald’s, Shoe Sensation, Dollar General, Verizon, Dairy Queen & Many More)

• Community with Desired Future Growth and Strong Employment Presence: Eaton Corporation (1,000+ Employees) Federal-Mogul Corporation, Cooper Foods, Van Wert County Hospital, Central Mutual Insurance Agency, Van Wert County, Van Wert City School District, Braun Industries, Vantage Career Center

• Across From Van Wert County Airport and Just South of Route 30 Providing Easy Access to I-75 and I-69 Via Route 30, and Less Than 1-Mile to Route 127 and Less Than 2-Miles to U.S. Highway 224

• Less Than 35 Miles to Fort Wayne, Indiana Providing Access to Large City Amenities and International Airport

ADDITIONAL HIGHLIGHTS

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The Cooper Commercial Investment Group has been exclusively retained by ownership to sell the 100% fee simple interest in the single-tenant, Absolute NNN Burger King location in Van Wert, Ohio. The property is being offered for $1,250,000, representing a 6.00% CAP Rate providing an investor with the opportunity to acquire an exceptionally stable tenant with a long track-record of success. The 3,670 S.F. building accommodates its single-tenant, Burger King who is guaranteed by the largest (800+ locations) Burger King franchise in the United States, Carrol Corp. The tenant recently approached ownership early to execute a new 10-year lease extension. The lease offers virtually no management responsibilities due to the attractive Net Lease with the tenant handling all on-site maintenance and repairs as well as directly contracting and paying for all related property expenses. Additionally, Burger King/Carrol’s is responsible for HVAC and roof replacement. Burger King has proven success at the location and has been located on the hard corner of S. Shannon and W. Ervin since 1987. In 2016, at their own expense, Burger King underwent a complete the interior and exterior renovation, converting the restaurant to the reimaged prototype. Additionally, the restaurant shows success through their very low rent to sales ratio of 5.9% and almost 16% in sales increase since 2015. Furthermore, because of the trajectory of sales, additional % rent income may be generated in the near future, providing extra upside to an investor. The property also benefits from the constant flow of traffic from its surroundings. The Burger King is positioned as an outlot to a high-traffic Chiefs Supermarket, Big Lots and other complimentary retailers (Tractor Supply, McDonald’s, Shoe Sensation, Dollar General, Verizon, Dairy Queen & many more). The restaurant also draws traffic due to its location almost directly across from Van wert County Airport and less than 1/2-mile from Van Wert High School and also the newer Niswonger Performing Arts Center of Northwest Ohio. Being the county seat, Van Wert has an abundance of nearby employers. The city is home to 2 industrial office parks, along with the planned future Mega Site on 1,600 acres and is welcoming new businesses to the community. The current employment landscape hosts a large presence from Eaton Corporation (1,000+ Employees) Federal-Mogul Corporation, Cooper Foods, Van Wert County Hospital, Central Mutual Insurance Agency, Van Wert County, Van Wert City School District, Braun Industries, Vantage Career Center and many more. The highly visible property surrounded by national retailers on the main retail corridor gives an investor the rare opportunity to acquire an unbeatable asset with minimal responsibilities.

INVESTMENT OVERVIEW

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Van Wert is a city in and the county seat of Van Wert County located in northwestern Ohio. The featured offering is positioned at the hard corner of two main roadways, S. Shannon and W. Ervin, and nearly directly across from the Van Wert County Airport. The property sits just south of four-lane highway Route 30, rail spurs, and is only 35 miles to Fort Wayne, Indiana. Additionally, I-75 and I-69 are easily accessible via Route 30, and the asset is less than 1-mile to Route 127 and less than 2-miles to U.S. Highway 224, which allow for easy trans-portation throughout the state of Ohio, the Midwest and beyond. Economic Development continues to be the focus in Van Wert and the city is positioned for and welcoming growth to the area. With two existing industrial parks to support the community, Van Wert Industrial park on the south side and Vision Industrial Park located on the north side adjacent to US route 30, Van Wert is also focused on community growth through the Van Wert Mega Site. The Mega Site is a 1,600-acre, shovel ready, flat topography site located in a prime spot within Van Wert. The site is a certified Ohio Job Ready, satisfying stringent industry standards and meets site selection criteria necessary to leading corporations. The city is already home to Eaton Corporation with over 1,000 employees, Federal-Mogul Corporation with 450 employees, Cooper Foods with 500 employees, Van Wert County Hospital with 350 employees, Central Mutual Insurance Agency with 330 employees, Van Wert County with 300 employees, Van Wert City School District with 260 employees, Braun Industries with 230 employees, Vantage Career Center with 220 employees, among several other major employers bringing employees and residents to Van Wert. Being positioned just minutes from the Ohio-Indiana border, Van Wert residents may also commute to Fort Wayne, Indiana. Some of the major employers in and around Fort Wayne include, Do it Best, Franklin Electric, Frontier, Genteq, Indiana Michigan Power, K&K Insurance, MedPro Group, North American Van Lines, Rea Magnet Wire, Steel Dynamics, Sweetwater Sound, and Vera Bradley. Steel Dynamics is a Fortune 500 company headquartered in the city, ranking 354th. Lincoln Financial Group maintains a large presence in the city, employing nearly 2,000.

LOCATION OVERVIEW

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Rental Income:

NOI:

$75,000

$75,000

Financial Data

Price:

Gross Leasable Area:

NOI:

CAP Rate:

Complete Renovation:

Year Built:

Lot Size:

Parking:

Foundation:

Exterior:

$1,250,000

3,670 S.F.

$75,000

6.00%

2016

1987

0.891 Acres

Approx. 45 Spaces

Concrete

Concrete Block/Metal

OFFERING SUMMARY

$6,250.00

$6,875.00

$7,562.50

$75,000.00

$82,500.00

$90,750.00

Current:

Option 1:

Option 2:

Annual PSF

$20.44

$22.48

$24.73

Monthly

Tenant Base Rent Schedule

Tenant Name:

Guaranty:

Lease Type:

% Rent Threshold:

Remaining Lease Term:

Tenant Since:

Commencement Date:

Lease Expiration Date:

Option to Extend:

Rental Increase (s):

Options to Terminate:

Roof & Structure:

HVAC:

Parking Lot Repair & Maintenance:

Common Area Maintenance:

Real Estate Taxes:

Insurance:

Burger King

Carrols LLC

Absolute Triple Net (NNN)

5% Over Gross Sales in

Excess of $1,500,000/Year

10 Years

1986-1987

08/01/2017

07/31/2027

(2) 5-Yr. Options

None

None

Tenant Responsibility

Tenant Responsibility

Tenant Responsibility

Tenant Responsibility

Tenant Reimburses Landlord

Tenant Responsibility

TENANT SUMMARY

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Property Name:

Property Address:

Property Type:

Lease Type:

Franchisee:

Guaranty:

Ticker Symbol:

S&P Credit Rating:

Rentable Area:

# of Locations:

Headquartered:

Web Sites:

Burger King

1101 S. Shannon Street

Van Wert, OH 45891

Single-Tenant

Absolute NNN

Carrols Restaurant Group, Inc.

Carrols LLC

NASDAQ: TAST

B

3,670 S.F.

800+ Carrols in 16 States

Syracuse, NY

www.burgerking.com

www.carrols.com

Every day, more than 11 million guests visit BURGER KING® around the world. And they do so because the restaurants are known for serving high-quality, great-tasting, and affordable food. Founded in 1954, BURGER KING® is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the commitment to premium ingredients, signature recipes, and family-friendly dining experiences is what has defined the brand for more than 50 successful years. Carrols Restaurant Group, Inc. is Burger King Corp.’s largest franchisee in the in the United States with over 800 Burger King® restaurants and has operated Burger King® restaurants since 1976.

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1101 S Shannon St 1 mi radius 3 mi radius 5 mi radius 10 mi radius 15 mi radius

Van Wert, OH 45891

POPULATION

2017 Estimated Population 4,019 12,525 14,107 22,456 44,024

2010 Census Population 4,053 12,489 14,039 22,505 44,334

2017 Median Age 42.8 40.7 40.8 40.7 40.2

HOUSEHOLDS

2017 Estimated Households 1,705 5,246 5,858 9,126 17,577

2022 Projected Households 1,753 5,437 6,054 9,343 17,895

2010 Census Households 1,718 5,176 5,765 8,995 17,367

Projected Annual Growth 2017 to 2022 0.6% 0.7% 0.7% 0.5% 0.4%

RACE AND

ETHNICITY

2017 Estimated White 93.7% 93.4% 93.8% 95.1% 96.1%

2017 Estimated Black or African American 1.6% 2.1% 1.9% 1.3% 0.9%

2017 Estimated Asian or Pacific Islander 0.8% 0.6% 0.6% 0.5% 0.4%

2017 Estimated American Indian or Native Alaskan 0.1% 0.1% 0.1% 0.1% 0.2%

2017 Estimated Other Races 3.7% 3.7% 3.6% 3.0% 2.4%

INCOME

2017 Estimated Average Household Income $53,225 $59,417 $61,880 $68,773 $71,589

2017 Estimated Median Household Income $43,221 $48,732 $50,606 $54,244 $55,812

2017 Estimated Per Capita Income $22,958 $25,297 $26,111 $28,241 $28,769

EDUCATION

(AGE 25+)

2017 Estimated Elementary (Grade Level 0 to 8) 2.7% 2.6% 2.4% 1.8% 1.9%

2017 Estimated Some High School (Grade Level 9 to 11) 8.5% 7.2% 7.0% 6.4% 6.5%

2017 Estimated High School Graduate 45.7% 46.5% 46.6% 47.9% 46.6%

2017 Estimated Some College 18.7% 18.2% 18.4% 18.7% 19.0%

2017 Estimated Associates Degree Only 7.9% 8.3% 8.3% 8.3% 9.8%

2017 Estimated Bachelors Degree Only 10.5% 10.0% 10.1% 10.3% 10.0%

2017 Estimated Graduate Degree 6.0% 7.2% 7.2% 6.5% 6.1%

BUSINESS

2017 Estimated Total Businesses 335 772 796 989 1,728

2017 Estimated Total Employees 3,554 7,175 7,446 8,997 15,651

2017 Estimated Employee Population per Business 10.6 9.3 9.4 9.1 9.1

2017 Estimated Residential Population per Business 12.0 16.2 17.7 22.7 25.5

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DISCLOSURE, CONFIDENTIALITY & DISCLAIMER

CONFIDENTIALITY AGREEMENT DISCLOSURE & DISCLAIMER The information within this Offering Memorandum will set forth an understanding regarding the relationship between the Recipient of this package (the “Recipient”) and The Cooper Group and the confidentiality of the investment information to be supplied to you and your organization for use in considering, evaluating and/or purchasing this property (the “Property”). The recipient acknowledges that all financial, contractual, marketing, and informational materials including but not limited to lease information, occupancy information, financial information, projections, data information and any other similar information provided by The Cooper Group which relates to the Property (collectively, the Confidential Information), whether said information was transmitted orally, in print, in writing or by electronic media is confidential in nature and is not to be copied or disseminated to any party without the prior consent of The Cooper Group. The Recipient acknowledges and agrees that the Confidential Information is of such a confidential nature that severe monetary damage could result from dissemination of that information to unauthorized individuals. The Recipient shall limit access to the Confidential Information to those individuals in the Recipient’s organization with a “need to know” and shall take all precautions reasonably necessary to protect the confidentiality of the Confidential Information. The Recipient acknowledges and agrees that the Confidential Information and any copies thereof are the property of The Cooper Group and that all such information will be returned to The Cooper Group upon written request. Any offers or inquiries from Recipient in connection with this investment proposal shall be forwarded, confidentiality, to The Cooper Group. Other than The Cooper Group, recipient agrees that neither Recipient nor The Cooper Group shall be obligated to pay any procuring broker fees in connection with this investment unless a separate written Brokerage Agreement is entered into and written acknowledgement of any procuring Brokerage Agreement is received from all parties to the investment transaction. Procuring brokers must provide written introductions of potential investors and receive written acknowledgment from The Cooper Group for representation to be recognized. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

The Memorandum contains selected information pertaining to the property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property, to be all-inclusive or to contain all or part of the information which perspective Recipients may require to evaluate the purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the owner or The Cooper Group. All references disclosed herein related to acreage, square footages and/or other measurements may be approximations and the best information available. The summaries of information included herein do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Photos herein are the Property and respective owners and use of these images without the express written consent of the owner is prohibited. The owner and the Cooper Group expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or terminate discussions with any entity and any time with or without notice which may arise as a result of review of this Memorandum. Neither the owner or the Cooper Group, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or its contents; and you are to rely solely on your investigators and inspections of the property in evaluating a possible purchase of the Property. The information contained in this document has been obtained from sources to be reliable. While the Cooper Group does not doubt its accuracy, the Cooper Group has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm the accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the Property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors.

Cooper Commercial Investment Group 6120 Parkland Blvd., Suite 206 Cleveland, OH 44124 www.coopergrp.com

Dan Cooper dcooper@coopergrp.com (888) 525-5695 x12

Bob Havasi bhavasi@coopergrp.com (888) 525-5695 x10