Exclusively Offered NNN Leased Restaurant | 420 Westbank Expwy, Gretna, LA

CONFIDENTIALITY & DISCLAIMER

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified 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. Marcus & Millichap 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, 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. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap 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.

NON-ENDORSEMENT NOTICE

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement 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 tenant lessee information about this listing to prospective customers.

MARCUS & MILLICHAP HEREBY ADVISES ALL PROSPECTIVE PURCHASERS OF SINGLE TENANT NET LEASED PROPERTY AS FOLLOWS:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted any investigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a single tenant 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. Marcus & Millichap 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 single tenant 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 single tenant 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 Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this single tenant property.

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

1 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved

Offering Price: $2,715,000

Price/SF: $476.15

Cap Rate: 7.01%

Tenant: Shoney’s

Lease Type: Absolute NNN

Address: 420 Westbank Expwy, Gretna, LA

Gross Leasable Area: 5,702 SF

Lot Size: 0.87 AC

Year Built: 1969

Absolute NNN Shoney’s Restaurant with Just Under 9 Years of Primary Lease Term

Corporate Shoney’s Restaurant (150+ Locations in 17 States)

Top Performing Shoney’s Location

Located in New Orleans, LA MSA (1.2 Million Population)

Approximately 5 Miles from the French Quarter and Louisiana Superdome

Surrounded by National Name Brand Retailers

OFFERING SUMMARYMarcus & Millichap, as the exclusive listing agent, is pleased to present for sale the absolute NNN corporate Shoney’s lease located in Gretna, Louisiana. The property is located in a high traffic area on the Westbank Expressway in the densely populated New Orleans MSA (population: 1.2 Million), and it is just across the Mississippi River from Downtown New Orleans and the French Quarter. Additionally, Shoney’s is near the Gretna OTB Casino and two large shopping centers that are home to numerous national retailers.

Shoney’s, a sit-down casual dining restaurant that serves breakfast, lunch and dinner, has a long operating history at this location and currently has nine years left on a 20-year absolute NNN lease, and the current annual rent is $190,205. The lease includes six percent rent increases every four years and two 10-year options.

2 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

Tenant Shoney’s

Ownership Private

Locations 140+

Headquarters Nashville, TN

Shoney’s is a privately held restaurant chain that operates primarily in the Southeast, Midwest and Mid-Atlantic states of the United States and is headquartered in Nashville, Tennessee. The corporate entity is Shoney’s North America Corp., and David Davoudpour is chairman and chief executive officer. Davoudpour acquired Shoney’s in 2006 through Royal Hospitality Corp. in Atlanta. He is founder and chairman of Royal Hospitality. As of early 2011, there were approximately 230 company-owned and franchised Shoney’s restaurants in 17 states, stretching from Maryland to Florida in the east and from Missouri to Texas in the West.

As part of his revitalization efforts, Davoudpour has established an aggressive quality improvement process that includes a new menu, new restaurant prototypes and rebuilds, and a new Executive and Operations team focused on adding unique twists to the Southern comfort food menu for which Shoney’s is known.

TENANT OVERVIEW

3 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

LEASE SUMMARY

Lease Type Absolute NNN

Tenant Shoney's

Lease Guarantor (Corporate) Shoney’s Louisiana, LLC

Lease Term 20 Years

Lease Expiration January 2027

Term Remaining 9 Years

Increases 6% Every 4 Years

Options 2 10-Year

Option to Terminate None

Option to Purchase None

Right of First Refusal None

LEASE SUMMARY

RENT SCHEDULE

TERM ANNUAL ANNUAL/SF MONTHLY

Current $190,205.00 $33.36 $15,850.42

2019 $190,205.00 $33.36 $15,850.42

2020 $201,617.30 $35.36 $16,801.44

2021 $201,617.30 $35.36 $16,801.44

2022 $201,617.30 $35.36 $16,801.44

2023 $201,617.30 $35.36 $16,801.44

2024 $213,714.34 $37.48 $17,809.53

2025 $213,714.34 $37.48 $17,809.53

2026 $213,714.34 $37.48 $17,809.53

2027 $213,714.34 $37.48 $17,809.53

4 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved

NEARBY RETAIL

5 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

SHONEY’S 105 KIMBALL CROSSING DRIVE, KIMBALL, TN

Sale Date 4/2/2018 Lease Type Absolute NNN

Price $1,160,000 Lease Term 20 Years

NOI $72,036 Lease Expiration 8/5/2027

Cap Rate 6.25% Options 2 5-Year

GLA 5,645 Lease Guarantor Shoneys TN, LLC

Price/SF $205

Lot Size 1.00 Acres

Year Built / Renov. 1988/2007

SALE COMPARABLE

RECENT CLOSING

SHONEY’S 420 WESTBANK EXPRESSWAY, GRETNA, LA

Asking Price $2,715,000 Lease Type Absolute NNN

NOI $190,205 Lease Term 20 Years

Cap Rate 7.01% Lease Expiration January 2027

GLA 5,702 Increases 6% Every 4 Years

Price/SF $476.15 Options 2 10-Year

Lot Size 38,897 Lease Guarantor Shoneys LA, LLC

Year Built 1969

SUBJECT PROPERTY

6 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved

ESTABLISHED TRANSPORTATION INFRASTRUCTUREInterstates, air and rail service and the Port of New Orleans strategically connect the metro to the national and global economy.

ROBUST TOURISM INDUSTRYThe metro is a popular tourist destination. A record-setting 10.4 million people visited New Orleans in 2016, spending $7.4 billion.

DISTINCT CULTURAL HERITAGENew Orleans offers residents one of the most unique and celebrated local cultures in the United States.

The New Orleans-Metairie metro is situated on the lower Mississippi River Delta in Southern Louisiana, where the Mississippi River drains into the Gulf of Mexico. The metro contains eight parishes, each centered around the city of New Orleans. These consist of Orleans, St. James, St. John the Baptist, Plaquemines, St. Charles, St. Bernard, Jefferson and St. Tammany parishes. The area occupies both the east and west banks of the Mississippi, housing 1.3 million residents.

METRO OVERVIEWNEW ORLEANS, LA

7 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau

2016 POPULATION1.3M

2016 HOUSEHOLDS492K

0.8% by 2021

2016 MEDIAN AGE37.6

US Median: 37.7

2016 MEDIAN HH INCOME$45,800

US Median: $57,200

ECONOMY HIGHLIGHTS n The region benefits from its proximity to the Gulf of Mexico, the seafood industry and

maritime commerce. Today it is one of the busiest hubs in the world for distribution and transportation of waterborne cargo.

n A petrochemical and oil-refining industry provides a major source of both jobs and economic stimulus to the region, including white-collar positions in the energy sector and related industries.

n New Orleans’ most celebrated economic sector is tourism, which provides 15 percent of all jobs. Large employers include Harrah’s New Orleans Casino.

n Major employers are heavily concentrated in the government and education and health services sectors, including Louisiana State University Health, Tulane University, University of New Orleans and North Oaks Health System.

Gretna is the seat of Jefferson Parish and is conveniently located in the New Orleans MSA just across from the Mississippi River. The city has a population of 17,000 and is just 10 minutes from the French Quarter and the Port of New Orleans.

Gretna offers a strong economic base with a well-educated work force. Industries that are thriving in the area include Manufacturing, Transportation & Hospitality, Health Care, Retail Trade, along with others.

Gretna has a very rich cultural history and holds a variety of events throughout the year which include it’s Art Walk, live music performances and weekly Farmer’s Market. The Gretna Heritage Festival is annually held in it’s Historic Downtown District and draws people from all parts of the country.

8 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

CITY OVERVIEW | GRETNA

RACE & ETHNICITY 1 MILE 3 MILES 5 MILES

White 44.66% 44.40% 42.32%

Black 40.79% 44.44% 48.29%

Asian 3.28% 3.45% 3.49%

Native American 0.51% 0.47% 0.43%

Pacific Islander 0.08% 0.05% 0.05%

Multi-Race 2.59% 2.64% 2.30%

Other 8.09% 4.55% 3.11%

Ethnicity

Hispanic 21.81% 11.99% 8.68%

POPULATION 1 MILE 3 MILES 5 MILES

2022 Projection 17,748 136,950 356,967

2017A Estimate 18,013 139,144 362,812

2010 Census 17,794 129,950 333,250

Growth 2017A - 2022 -1.47% -1.58% -1.61%

Growth 2010 - 2017A 1.23% 7.08% 8.87%

9 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. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. Activity ID: Z0130152

AREA DEMOGRAPHICS

INCOME 1 MILE 3 MILES 5 MILES

2017A Estimate

Average Household $45,232 $61,635 $65,682

Median Household $30,999 $38,244 $39,211

Per Capita $17,860 $25,900 $26,538

2022 Projection

Average Household $51,901 $72,621 $77,363

Median Household $33,757 $45,212 $46,670

Per Capita $20,596 $31,142 $31,872