™ O F F E R I N G M E M O R A N D U M

L i tt l e C a es a rs6 0 0 N M A I N S T R E E T | B E L E N , N M

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E XC L U S I V E LY L I ST E D BY

Kyle MatthewsBROKER OF RECORDLIC # 19601

Gary ChouFVP & Senior Director

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

Kevin ChangAssociate

Kevin.Chang@matthews.comDIR (310) 919-5828MOB (951) 616-8918LIC # 01976724 (CA)

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C O N T E N T S

4 INVESTMENT OVERVIEWInvestment Highl ights

5 FINANCIAL ANALYSISAnnual ized Operat ing DataTenant Summary

6 TENANT OVERVIEWLi t t le Caesars OverviewParcel MapSurrounding Tenants

1 0 AREA OVERVIEWCity Overview

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Investment Highlights

• Absolute NNN Lease – Tenant reimburses all expenses per the lease - Ideal 1031 Exchange Property

• 5+ Years remaining on the lease with two (2), 5-year options for tenant to extend

• Low Price-Point Investment! – Property can be purchased for under $700,000

• Drive-Thru Equipped Location!

• Experienced Operator – Sizzling Platter operates ±374 restaurant properties across 12 states and 3 countries

• Multi-Brand Franchisee – Primarily a Little Caesars operator, Sizzling Platter also successfully operates Dunkin’ Donuts, Wing Stop, Red Robin and Sizzler

• Corporate Franchisee Guarantee – Sizzling Caesars, LLC is the entity signed – Little Caesars accounts for approximately 300/374 units under operation

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Annualized Operating DataMonthly Rent Annual Rent Rent/SF Cap Rate

Current - 3/25/2018 $3,522.00 $42,264 $28.18 6.13%

3/26/3018 - 3/25/2023 $3,874.20 $46,490 $30.99 6.75%

3/26/2023 - 3/25/2028 $4,261.62 $51,139 $34.09 7.42%

Option 1: 3/26/2028 - 3/25/2033 $4,687.78 $56,253 $37.50 8.16%

Option 2: 3/26/2033 - 3/25/2038 $5,156.56 $61,879 $41.25 8.98%

Tenant Summary

Tenant Trade Name Little Caesars

Type of Ownership Fee Simple

Lease Guarantor Sizzling Caesars, LLC

Lease Type NNN

Roof and Structure Tenant Responsible

Original Lease Term 20 Years

Rent Commencement Date 3/26/2013

Lease Expiration Date 3/25/2023

Term Remaining on Lease ± 5.40 Years

Increases 10% increases in options

Options Two, 5-Year Options

Listing Price$689,000

Cap Rate6.75%

GLA ± 1 ,500 SF

Lot Size± 0.25 Acres

Year Bui lt2012

600 N Main StreetBelen, NM 87002

Financial Overview

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*Pricing based off rent increase on 3/25/2018

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TENANT OVERVIEWLittle Caesars, founded in 1959, is the third-largest pizza chain in the United States. Their Hot-N-Ready motto has driven their mission of low price, immediate carry-out, and high-quality products that have made them a trademark name. The company was founded by Mike and Marian Ilitch, a couple that had a passion for great quality food that would beat out the competition. The company has become a worldwide corporation with locations spreading across the United States as well as internationally. They pride themselves on using high-quality, local ingredients.

Little Caesars Enterprises, Inc. | Public | www.LittleCaesars.com

Revenue: $5 M

No. of locations: ± 5,463

No. of Employees: ± 10,000

Headquartered: Detroit, MI

Year Founded: 1959

Fastest-Growing Carryout Pizza Chain in U.S.

Raised Millions for local Communities across the nation

Tenant Overview

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Col

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The OfferingProperty Name Little Caesars

Property Address600 N Main StreetBelen, NM 87002

Assessor’s Parcel Number 1007028188490000000

Site DescriptionNumber of Stories One

Year Built 2012

Gross Leasable Area (GLA) ± 1,500 SF

Lot Size ± 0.25 Acres

Type of Ownership Fee Simple

Landscaping Professional

Topography Generally Level

Parcel Map

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Subject Property

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Subject Property

Henry T. Jaramillo

Community School

Belen, NM Belen, located 35 miles south of Albuquerque, is the second most populated city in Valencia County. The city is nicknamed “The Hub City” because it is in the heart of New Mexico and is a significant transportation hub. The city has a well-established community, with residents that go back generations. The community has been expanding over the last decade, and have been welcoming more larger corporations.

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

POPULATION 1 Mile 3 Mile 5 Mile

2022 Projection 4,670 11,507 20,246

2017 Estimate 4,848 11,850 20,709

2010 Census 5,251 12,638 21,749

2000 Census 5,296 12,207 20,042

HOUSEHOLDS 1 Mile 3 Mile 5 Mile

2022 Projection 1,963 4,649 8,170

2017 Estimate 2,009 4,727 8,265

2010 Census 2,108 4,899 8,461

INCOME 1 Mile 3 Mile 5 Mile

2017 Est. Average Household Income

$42,235 $44,547 $48,254

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“The Hub City”

Interstate 25 New Mexico Highway 314 Highway 309

BNSF Railway New Mexico Rail Runner Express

Area Overview

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Highway 309

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Albuquerque is the most populous city in the state of New Mexico. The high-altitude city serves as the county seat of Bernalillo County, and it is situated in the central part of the state, straddling the Rio Grande.

Albuquerque is rich in culture and heritage. There is plenty to do in Albuquerque from shopping for authentic Native American jewelry, hot air ballooning, exploring history museums and enjoying the local events and festivals.

Albuquerque, NM

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Economy

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high-tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or “fab” in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and Tempur-Pedic is located on the West Mesa next to I-40.

Top Employers

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Albuquerque is also home of the International Balloon Fiesta, the world’s largest such gathering of balloons from around the world. The event takes place during the first week of October. The Balloon Fiesta is a nine-day event and has over 500 balloons each year. The convention has also become a major showcase of New Mexican culture and history and features numerous cultural exhibitions. The fiesta is one of Albuquerque’s largest tourist attractions and constitutes a major source of income for the city and local businesses. Typically, tourists and fiesta visitors take thousands of pictures of the balloons, so it is no surprise that for several years the fiesta was sponsored by Kodak and was given the title, the Kodak Albuquerque International Balloon Fiesta, though that title was usually only used in print ads and on official memorabilia.

International Bal loon Fiesta

This Offer ing Memorandum contains select informat ion pertaining to the business and af fa i rs of Little Caesars located at 600 N Main Street, Belen, NM 87002 (“Property”) . I t has been prepared by Matthews Real Estate Investment Services. 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 Real Estate Investment Services. 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 Real Estate Investment Services 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 Real Estate Investment Services 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

International Bal loon Fiesta

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Exclusively Listed By

L i t t l e C a es a rs6 0 0 N M A I N S T R E E T , B E L E N , N M

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Kyle MatthewsBROKER OF RECORDLIC # 19601

Gary ChouFVP & Senior Director

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

Kevin ChangAssociate

Kevin.Chang@matthews.comDIR (310) 919-5828MOB (951) 616-8918LIC # 01976724 (CA)