Actual Site

Sheree Strome, CCIMAssociate Director404.900.5629 sstrome@calkain.com

Keelee PetersonAssociate Director404.492.9469 kpeterson@calkain.com

Exclusively Listed byNNN Burger King Sevierville, TNOffering Memorandum

Asset Summary

Net Operating Income (NOI) $96,000

Rent/Month $8,000

Rent/SF $29.26

Rentable Square Feet 3,280+/- SF

Land Area 0.95+/- Acres

Tenant Name Burger King

Guarantor Tennessee Quality

Ownership Type Fee Simple

Lease Type NNN

Landlord Responsibilities None

Store Opened 1984

Store Remodeled 2012

Lease Term Remaining 14 Years

Increases 5% Every 5 Years

Rent Commencement At Closing

Lease Expiration 2032

Options Four (4), Five (5) Year

Rent ScheduleTerm Increases Annual Rent Monthly RentYears -

Years %

Years %

Years (Option 1) %

Years (Option 2) %

Years (Option 3) %

Years (Option 4) %

Investment Highlights

• Downtown location

• Over 29,530 vehicles per day

• Updated to new Burger King branding August 2012

• Gatlinburg MSA

Rent ScheduleTerm Increases Annual Rent Monthly Rent

Years 1-5 - $96,000 $8,000

Years 6-10 5% $100,800 $8,400

Years 11-15 5% $105,840 $8,820

Asking Price$1,699,115

Cap Rate 5.65%

412 Forks Of The River PkwySevierville, TN 3786

Calkain Companies | 2

Financial Summary

Site Photos

Calkain Companies | 3

About Burger KingBurger King is the second largest fast food hamburger chain in the world, trailing only McDonald’s. For a non-investment grade net lease tenant, Burger King is a solid net lease investment, providing stability in an uncertain market.

Burger King has been in business for 50 years and owns or franchises a total of 15,738 Burger King restaurants in approximately 100 countries and US territories worldwide. Of these restaurants, 15,667 are franchised, approximately 99.5 %, and 71 are company-owned.

In 2014, Restaurant Brands International Inc. formed to serve as the indirect parent of Tim Hortons and its consolidated subsidiaries, and Burger King Worldwide and its consolidated subsidiaries. Since 2010, the Burger King brand has increased annual net restaurant growth by approximately four times, from adding 173 new units in 2010, to 631 new restaurants in 2015. This growth has

made Burger King one of the fastest growing QSRs in the world. Burger King has implemented a modernization plan, and will offer incentives to franchisees who remodel their stores in the new modern format.

About Nashville Quality LLCNashville Quality, LLC is a subsidiary of Cambridge Franchise Holdings which operates 150 Burger King locations across North Carolina, Virginia, Tennessee, Alabama, Indiana, Kentucky, Mississippi, Missouri and Louisiana. Founded by Ray Meeks, this is one of fastest growing and most profitable Burger King Franchisees in the Burger King system. There are currently 63 locations under the Nashville Quality LLC and this subsidiary in continuing to grow. For more information, please visit: www.garnettstation.com.

# of Locations

15,738

Stock Symbol

NYSE: QSR

Credit Rating

S&P: B+

2017 Revenue

$1.23Bil

Market Cap

$12.49Bil

Tenant Snapshot

Calkain Companies | 4

Tenant Overview

81

Louisville, KY

Nashville, TN

Charlotte, NCChattanooga, TN

75

Subject Site

Subject SiteKnoxville, TN

Sevierville, TN

Sevierville, TN

75

Calkain Companies | 5

Location Overview

Distance To

Knoxville, TN 29 miles

Chattanooga, TN 139 miles

Charlotte, NC 206 miles

Nashville, TN 208 miles

Louisville, KY 273 miles

Subject Site

Forks Of The River Pkwy 29,530 VPD

Park

way

38,

530

VPD

E Main St 27,220 VPD

Landmark Inn

Riverview Inn

River Place Motel

Sevier County Special Education

School

Sevierville Parks &

Recreation

King Family Library

Sevier County

Jail

Smoky Mountain Children’s Home

Sevierville Middle School

Rick’s Service Center

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412 Forks Of The River Pkwy | Sevierville, TN

Subject Site

Forks Of The River Pkwy 29,530 VPD

Prince Street

Court Avet

Landmark Inn

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412 Forks Of The River Pkwy | Sevierville, TN

1 Mile 3 Miles 5 MilesPopulation2017 Population 4,720 15,856 29,646

2022 Population 4,908 16,680 31,386

2017 Median Age 37.0 39.0 39.5

Households2017 Total Households 1,932 6,373 11,687

2022 Total Households 2,021 6,704 12,357

Median Household Income2017 Median HH Income $32,576 $35,383 $37,985

2022 Median HH Income $35,197 $37,605 $40,636

Average Household Income2017 Average HH Income $47,978 $51,813 $55,044

2022 Average HH Income $55,935 $60,848 $64,657

Population 29,626

Median Age 39.5

Avg HH Income $55,044

5 Mile Radius | Demographics

Location Overview, 1/3/5 Miles

Calkain Companies | 8

Sevierville, TN

Located off of exit 407 of Interstate

40, Sevier County, TN is comprised of

the three most popular cities in the

state – Pigeon Forge, Gatlinburg, and

Sevierville. Over 12 million visitors

choose Sevier County each year to

enjoy great shopping, world-class theme parks, theaters and live entertainment,

local festivals and events. Another big draw is the amount of awesome lodging

choices – particularly cabins. While many may think of cabins as being really rustic,

Sevier County Tennessee cabins are more like log homes – far from roughing it.

Smoky Mountain cabin rentals very popular. You’ll find over 7,000 to choose from

in Sevier County alone.

Sevierville is a city in east Tennessee. To the south, Great Smoky Mountains

National Park has forest trails and waterfalls. A statue of country singer Dolly

Parton, a Sevierville native, is downtown by the 1896 beaux arts–style courthouse.

The Tennessee Museum of Aviation has vintage aircraft, including 2 rare P-47

Thunderbolts. To the east, the Forbidden Caverns are vast underground caves

with calcite formations.

Several major state and federal highways intersect in Sevierville. U.S. Route 441,

commonly called “The Parkway,” connects Sevierville with Knoxville to the north

and the national park and Cherokee, North Carolina to the south. The Sevierville

section of U.S. 441 has been named “Forks-of-the-River Parkway.” State Route

66, also called Winfield Dunn Parkway, connects Sevierville with Interstate 40

to the north. U.S. Route 411 traverses Sevierville from east to west, connecting

Sevierville with Blount and Cocke counties. State Route 416 connects Sevierville

with Pittman Center and U.S. Route 321 at the park boundary to the southeast.

Facts:

• Approximately 12 million people visit Sevier County TN each year

• Approximately 10 million people visit Pigeon Forge each year

• The great Smokey Mountains National Park is the most visited National Park in the country

• Since its establishment in 1795, the County seat has been situated at Sevierville (Also named Sevior), the eight oldest city in Tennessee

• In 1986, Dolly Parton opened Dollywood

Calkain Companies | 9

Market Overview

About UsCalkain Companies LLC is a boutique commercial real estate investment banking firm that provides consulting and brokerage services to both private and institutional clientele with a focus on single tenant net lease investments. It prides itself on being an innovative leader by providing its clients a full array of commercial real estate investment brokerage and asset management solutions, including advisory, research, debt and equity placement and wealth management.

Calkain has built solid, lasting relationships that have been the cornerstone of how they do business. Calkain approaches each assignment with an eye toward each client’s individual needs. Whether private or institutional investors, Calkain delivers real estate solutions that maximize value while building wealth for all of its clients.

At Calkain, their foresight and innovation are leading the net lease investment industry.

Building a solid foundation for your investment portfolio

calkain.com

Disclaimer: The information contained in this document is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Calkain and its subsidiaries, and should not be made available to any other person or entity without the written consent of Calkain. This document has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property(s). The information contained herein is not a substitute for a thorough due diligence investigation. Calkain and its subsidiaries have not made any investigation, and make no warranty or representation, with respect to the income or expenses for the subject property(s), the future projected financial performance of the property, the size and square footage of the property(s) and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property(s). The information contained in this document has been obtained from sources we believe to be reliable; however neither Calkain and its subsidiaries nor the Seller have verified, and will not verify, any of the information contained herein, nor has Calkain and its subsidiaries or the Seller conducted any investigation regarding these matters and make 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.

$12 Billion in Closed Transactions

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in Active Listings

Washington, DC 12930 Worldgate Dr | Ste 150 Herndon, VA 20170 Tel: 703.787.4714

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