Vacant Bank | Office | Retail15119 U.S. Highway 441,Eustis, FL 32726

Offering Memorandum

Non-EndorsementsMarcus & Millichap Real Estate Investment Services of Florida, Inc. ("Marcus & Millichap") is not affiliated with,sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. Thepresence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship orendorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product,service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenantlessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

DisclaimerTHIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULDNOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to bereliable, but we make no representations or warranties, express 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 forany inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services,Inc. © 2018 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

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VACANT BANK | OFFICE | RETAIL Eustis, FLACT ID ZAA0310084

FL BROKER OF RECORD:Ryan NeeLicense: FL BK3154667

Table of Contents

1. Investment Overview……………………………………………………………………………………………….... P. 4

2. Investment Highlights………………………………………………………………………………………………….P. 5

3. Location Highlights………………………………………………………………………………………………………P. 6

4. Property Photos…………………………………………………………………………………………………..........P. 7

5. Property Summary………………………………………………………………………………………………………P. 8

6. Property Highlights………………………………………………………………………………….....................P. 9

7. Regional Map…………………………………………………………………………………………………………….P. 10

8. Local Map………………………………………………………………………………………………………………….P. 11

9. Demographics……………………………………………………………………………………………………………P. 12

10. Demographics (Continued)………………………………………………………………………………………..P. 13

11. Market Overview……………………………………………………………………………………………………….P. 14

12. Marketing Team………………………………………………………………………………………………………...P.15

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INVESTMENT OVERVIEWMarcus & Millichap is pleased to present this exclusive listing of a freestandingbank/retail/office building with Drive-thrus, on 1.59 Acres in Eustis, FL. The property isconsidered to have adequate access via a curb cut along the north side of U.S.Highway 441 for west bound traffic and ingress/egress easement which adjoins thesubject to the east.

THE CITY OF EUSTIS

The City of Eustis is located within central Lake County, Florida and is considered anorthwest suburb of the Orlando MSA. The city has benefited from its location withinthe tri-city area of Eustis, Tavares and Mount Dora known as the “Golden Triangle”area. This area is centered midway between both coasts of Florida and is within shortdriving distances to area attractions. The neighborhood is bounded by Lake Eustis tothe north, County Road 44B to the east, Lake Dora to the South and the City ofTavares to the west. The subject is located on the north side of US Highway 441. Thisarea is considered to be within the US Highway 441 corridor in an area of intensecommercial and residential development.

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Investment HighlightsLocated on 1.59 Acres, this freestanding bank/retail/office building with drive‐thrustruly offers endless possibilities for the creative value‐add investor seeking to capitalize not only on the real‐estate present in Eustis, but also on the business opportunity one may create in this given location. Adjacent to the Publix Super Market at Eustis Village, the subject property is surrounded by several quick‐service‐restaurants (QSR’s) that serve the local community. 

With close proximity to the AdventHealth Waterman campus, the subject property features potential as a redevelopment opportunity for medical or consulting practices. With premiere frontage on US 441 the opportunity is prevalent for an avid investor seeking to take advantage of recent developments taking place in the City of Eustis.

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Location HighlightsThe neighborhood is primarily characterized as a service sector of the Orlando MSA. The area has good access and most employment centers are a 10 to 50 minute drive. The residential districts consist of both older and newer somewhat stabilized areas, targeting middle income households and retirees. Major Commercial Districts are located downtown and along U.S. Highway 441. The downtown district consists of several restaurants and retail shops while the U.S. Highway 441 sector includes most commercial uses and is anchored by big box retail stores and Florida Hospital Waterman, one of the areas major employers. The city has a wide range of businesses and industries. The population mix is pretty even among white collar, blue collar and retirees.

Overall, Florida continues to be among the nation’s leaders in population growth. From the year 2000 to 2011, Florida’s permanent resident population increased by more than three‐million. This was an increase of 19.24 percent to 19,057,542. That mark was the third‐largest numeric increase and the eighth largest percentage increase in the country. However, most recent projections indicate that Florida’s population growth will continue to increase but at a slower rate than experienced in the past from 2030 to 2040.

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PROPERTY SUMMARYOFFERING SUMMARY

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OFFERING SUMMARY

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CLOSE PROXIMITY TO:

15119 US Highway 441, Eustis, FL 32726

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIXPRICING AND VALUATION MATRIXLOCATION OVERVIEW

• Excellent Visibility & Access

• Proximity to Major Retailers

• Adjacent to Publix Shopping Center

• Close Proximity to Major Highways

• Close Proximity to AdventHealth Waterman Campus

• Adjacent to several national quick‐service‐restaurants (QSR’s)

Property Highlights

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15119 US Highway 441, Eustis, FL 32726

LOCATION OVERVIEWTENANT SUMMARYPRICING AND VALUATION MATRIXPRICING AND VALUATION MATRIXREGIONAL AND LOCAL MAP

Regional Map

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Local Map

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MARKETING TEAMDEMOGRAPHICS

Source: © 2018 Experian

Created on February 2019

POPULATION 1 Miles 3 Miles 5 Miles 2023 Projection

Total Population 7,558 33,484 66,329 2018 Estimate

Total Population 7,356 31,158 62,263 2010 Census

Total Population 6,893 28,233 55,925 2000 Census

Total Population 6,798 24,937 47,021 Current Daytime Population

2018 Estimate 9,143 33,058 70,133

HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2023 Projection

Total Households 2,997 14,302 28,768 2018 Estimate

Total Households 2,879 13,166 26,670

Average (Mean) Household Size 2.47 2.32 2.29 2010 Census

Total Households 2,657 11,820 23,687 2000 Census

Total Households 2,752 10,725 20,277 Occupied Units

2023 Projection 2,997 14,302 28,768

2018 Estimate 3,284 14,734 29,836

HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2018 Estimate

$150,000 or More 4.48% 5.25% 5.30%

$100,000 - $149,000 9.25% 10.39% 10.92%

$75,000 - $99,999 9.67% 10.34% 11.46%

$50,000 - $74,999 17.53% 18.81% 19.28%

$35,000 - $49,999 16.14% 15.13% 15.26%

Under $35,000 42.92% 40.10% 37.76%

Average Household Income $56,573 $62,188 $64,646

Median Household Income $40,078 $44,227 $46,369

Per Capita Income $22,487 $26,503 $28,018

HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 MilesTotal Average Household Retail Expenditure $53,747 $55,402 $56,880

Consumer Expenditure Top 10 Categories

Housing $15,559 $16,083 $16,545Transportation $10,425 $10,172 $10,362Shelter $9,209 $9,402 $9,618Food $5,796 $5,940 $6,120Personal Insurance and Pensions $4,247 $4,358 $4,496Health Care $3,487 $3,915 $4,098Utilities $3,356 $3,432 $3,508Entertainment $1,992 $2,153 $2,277Apparel $1,793 $1,715 $1,724

Household Furnishings and Equipment $1,284 $1,391 $1,475

POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population By Age

2018 Estimate Total Population 7,356 31,158 62,263Under 20 25.10% 22.04% 20.67%20 to 34 Years 21.72% 17.53% 16.85%35 to 39 Years 5.72% 5.13% 5.06%40 to 49 Years 11.19% 10.64% 10.74%50 to 64 Years 19.02% 20.05% 20.32%Age 65+ 17.26% 24.63% 26.36%Median Age 37.69 45.42 47.21

Population 25+ by Education Level

2018 Estimate Population Age 25+ 5,027 22,606 46,121Elementary (0-8) 3.49% 2.96% 2.62%Some High School (9-11) 10.88% 8.18% 7.96%High School Graduate (12) 33.50% 32.96% 33.10%Some College (13-15) 25.45% 24.48% 24.70%Associate Degree Only 9.05% 9.20% 9.01%Bachelors Degree Only 10.77% 13.61% 13.48%Graduate Degree 5.71% 7.35% 8.09%

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Demographics

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IncomeIn 2018, the median household income for your selected geography is$40,078, compare this to the US average which is currently $58,754.The median household income for your area has changed by 30.59%since 2000. It is estimated that the median household income in yourarea will be $45,619 five years from now, which represents a changeof 13.83% from the current year.

The current year per capita income in your area is $22,487, comparethis to the US average, which is $32,356. The current year averagehousehold income in your area is $56,573, compare this to the USaverage which is $84,609.

PopulationIn 2018, the population in your selected geography is 7,356. Thepopulation has changed by 8.21% since 2000. It is estimated that thepopulation in your area will be 7,558.00 five years from now, whichrepresents a change of 2.75% from the current year. The currentpopulation is 47.46% male and 52.54% female. The median age of thepopulation in your area is 37.69, compare this to the US averagewhich is 37.95. The population density in your area is 2,343.77 peopleper square mile.

HouseholdsThere are currently 2,879 households in your selected geography. Thenumber of households has changed by 4.61% since 2000. It isestimated that the number of households in your area will be 2,997five years from now, which represents a change of 4.10% from thecurrent year. The average household size in your area is 2.47persons.

EmploymentIn 2018, there are 2,911 employees in your selected area, this is alsoknown as the daytime population. The 2000 Census revealed that56.11% of employees are employed in white-collar occupations in thisgeography, and 42.95% are employed in blue-collar occupations. In2018, unemployment in this area is 6.56%. In 2000, the average timetraveled to work was 28.00 minutes.

Race and EthnicityThe current year racial makeup of your selected area is as follows:70.09% White, 20.03% Black, 0.00% Native American and 0.78%Asian/Pacific Islander. Compare these to US averages which are:70.20% White, 12.89% Black, 0.19% Native American and 5.59%Asian/Pacific Islander. People of Hispanic origin are countedindependently of race.

People of Hispanic origin make up 16.55% of the current yearpopulation in your selected area. Compare this to the US average of18.01%.

MARKETING TEAM

HousingThe median housing value in your area was $164,692 in 2018,compare this to the US average of $201,842. In 2000, there were1,694 owner occupied housing units in your area and there were 1,059renter occupied housing units in your area. The median rent at thetime was $399.

Source: © 2018 Experian

DEMOGRAPHICSDemographics

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ORLANDO

OVERVIEWA warm climate and a favorable tax structure attract visitors,employers and residents to the region. The metro is amongthe largest and fastest growing in Florida, with a population ofmore than 2.4 million residents It is also one of the nation’smost popular tourist destinations with roughly 67 millionvisitors annually. The Orlando metro encompasses fourcounties: Osceola, Orange, Seminole and Lake, coveringmore than 4,000 square miles in central Florida. There arenumerous lakes scattered across the region and thetopography is generally flat with few impediments todevelopment. Orlando is the area’s largest city, approaching275,000 residents, followed by Kissimmee and Sanford, eachwith less than 100,000 residents.

MARKET OVERVIEW

METRO HIGHLIGHTS

ECONOMIC DIVERSITYWhile Orlando’s economy has strong business and professional services as well as tourism components, distribution, high-tech, defense contracting and healthcare also are prevalent.

PRO-BUSINESS ENVIRONMENTFlorida has low state and local taxes in addition to no state personal income tax, attracting businesses to the region.

JOB AND POPULATION GROWTHOrlando’s population is expected to increase by 242,200 people over the next five years, as job gains outpace the national average.

ANYTIME FITNESS

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Marketing Team

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E X C L U S I V E L Y L I S T E D B Y :

Andrew J. JaworskiNational Retail GroupDir: (407) 557-3839Cell: (631) 903-7137 Andrew.Jaworski@marcusmillichap.com

Joseph F. RussoNet Leased Properties Group

Dir: (407) 557-3843Cell: (407) 453-0252joseph.russo@marcusmillichap.com

Douglas T. KinsonNet Leased Properties GroupDir: (407) 557-3842Cell: (407) 625-9539douglas.kinson@marcusmillichap.com

Vacant Bank | Office | Retail15119 U.S. Highway 441,Eustis, FL 32726

Offering Memorandum