Westheimer

A “Value Add ” Opportunity

Currently, the property is . . .

Under-Utilized,

Functionally Obsolete,

Under Marketed,

Convert this Mobil Station into . . .

C-Store – Fuel – Service – Car Wash

“On the Run” C-Store

“On the Run” Interior

“Brushless” Car Wash

Inspections – Lubes – Repairs

Projected Conversion Cost

Item Size Cost Per Ext. Cost

Demolition 1,260 10.00$ 12,600

Store Shell 3,500 45.00$ 157,500

Car Wash Shell 1,225 30.00$ 36,750

Reconfigure Awning 2,142 5.00$ 10,710

Store Build-out 3,500 40.00$ 140,000

Car Wash Mechanical 96,400 96,400

Total 453,960$

Financial Projections

Westheimer Mobil Station

2010 Actual Proforma (Renovated)

Purchase Price 1,750,000 100% 1,750,000 80%

Build Out Allowance - 0.00% 450,000 20%

Total Acquisiton Price 1,750,000 100.00% 2,200,000 100%

Cash Down 550,000 31% 1,000,000 45%

Mortgage 1,200,000 69% 1,200,000 55%

Interest Rate 6.00% 6.00%

Term 240 Months 240 Months

Debt Service 103,166 8,597 103,166 8,597

Net Income (EBITDA) 355,972 29,664 760,848 63,404

Less Debt Service 103,166 8,597 103,166 8,597

Net Cash Flow 252,806 21,067 657,682 54,807

Debt Service Coverage 3.45 to 1 7.37 to 1

Return on Investment 20.34% 34.58%

Cash on Cash Return 45.96% 65.77%

Actuals – Proforma

Westheimer Mobil Station

2008 Actual 2009 Actual 2010 Actual Proforma (Renovated)

Purchase Price 1,750,000 100% 1,750,000 80%

Build Out Allowance - 0.00% 450,000 20%

Total Acquisiton Price 1,750,000 100.00% 2,200,000 100%

Cash Down 550,000 31% 1,000,000 45%

Mortgage 1,200,000 69% 1,200,000 55%

Interest Rate 6.00% 6.00%

Term 240 Months 240 Months

Debt Service 103,166 8,597 103,166 8,597

Annual Monthly Annual Monthly Annual Monthly Annual Monthly

Gasoline 5,103,116 425,260 1,694,810 141,234 1,056,000 88,000 2,800,000 233,333

Parts 848,492 70,708 479,434 39,953 156,320 13,027 350,000 29,167

Groceries 235,067 19,589 291,002 24,250 45,120 3,760 547,500 45,625

Car Wash - - - - - - 244,915 20,410

Labor 934,138 77,845 589,250 49,104 364,500 30,375 600,000 50,000

Total Revenue 7,120,813 593,401 3,054,496 254,541 1,621,940 135,162 4,542,415 378,535

Gasoline Cost 4,896,026 408,002 1,470,674 122,556 932,450 77,704 2,600,000 216,667

Cost of Car Wash - - - - - - 61,229 5,102

Cost of Goods 1,180,689 98,391 759,380 63,282 124,882 10,407 628,250 52,354

Total COGS 6,076,715 506,393 2,230,054 185,838 1,057,332 88,111 3,289,479 274,123

Gross Profit 1,044,098 87,008 824,442 68,704 564,608 47,051 1,252,936 104,411

Wages 143,678 11,973 205,218 17,102 98,400 8,200 240,000 20,000

Payroll Taxes 12,827 1,069 2,494 208 14,760 1,230 36,000 3,000

Licenses & Taxes 57,709 4,809 7,378 615 34,720 2,893 40,000 3,333

Maint. & Repair 8,026 669 10,574 881 2,475 206 12,000 1,000

Insurance 24,329 2,027 14,656 1,221 6,810 568 15,000 1,250

Legal & Prof. 3,750 313 5,500 458 3,600 300 3,600 300

Uniforms 5,184 432 7,326 611 375 31 5,000 417

Supplies 13,251 1,104 3,968 331 717 60 4,500 375

Office use 3,672 306 1,386 116 225 19 1,200 100

Advertising 4,028 336 2,916 243 743 62 18,000 1,500

Utilities & Phone 40,538 3,378 54,250 4,521 11,872 989 24,000 2,000

Tools 3,014 251 4,272 356 1,700 142 1,700 142

Credit Card Charges 71,280 5,940 15,622 1,302 32,059 2,672 90,848 7,571

Misc. 1,277 171 1,344 154 180 15 240 20

Total Expenses 392,563 32,714 336,904 28,075 208,636 17,386 492,088 41,007

Net Income (EBITDA) 651,535 54,295 487,538 40,628 355,972 29,664 760,848 63,404

Less Debt Service - - - - 103,166 8,597 103,166 8,597

Net Cash Flow 651,535 54,295 487,538 40,628 252,806 21,067 657,682 54,807

Debt Service Coverage 3.45 to 1 7.37 to 1

Return on Investment 20.34% 34.58%

Cash on Cash Return 45.96% 65.77%

Location, location, location

Westheimer

Westheimer Mobil

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Demographics

Traffic Count

Westheimer / Seagler

87,000 cars per day.

32 million cars per year.

Existing Site Plan

Land Area = 25,000 sf

Proposed Site Plan

The Neighborhood

Carillion Center Across Westheimer

Amegy Bank Next Door

Bank of America Across Westheimer

The Competition across Seagler

Environmental

No environmental issues.

Inspected and Certified by TCEQ.

Upgraded underground tanks.

Expressions of Interest

invited through

July 15th, 2011.

Questions . . .

4545 Bissonnet Street

Suite 285

Bellaire, Texas 77401

713-702-2002