ABSOLUTE TRIPLE NET NNN APPLEBEE'S EAST LANSING MI · Applebee's is considered by many to be the best restaurant chain in ... programs, special character days and holiday events

PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

Council Chair Of Single [email protected]

PETER CPETER COLOLVINVIN Absolute NNN Lease

11+ Years Remaining

10% Rent Increase Next Year

Prime Meijer Entry Location

Over 150,000 People Within 5 Miles

PRESENTED BPRESENTED BYY::

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for itscorrectness.

All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

ABSOLUTE TRIPLE NET

NNN APPLEBEE'S EAST LANSING MI2450 Coolidge | East Lansing, MI 48823

SSALE OALE OVERVERVIEWVIEW PROPERPROPERTTY DESCRIPTIONY DESCRIPTION

The SVN Colvin Team presents this Absolute Triple Net Applebee's in EastLansing Michigan. It is at the entrance of a very busy Meijer Superstore anexcellent, high-income location near Michigan State University. Just east ofUS 127 at the W. Lake Lansing Rd exit, there are over 150,000 people within a5 mile radius and over 370,000 people within a 10-mile radius. Many of themproudly wear the Spartan Green & White.

Applebee's is considered by many to be the best restaurant chain inAmerica. This location is one of approx 75 Applebee's owned by successfulfranchisee, Team Schostak Family Restaurants. The rent increases 10% nextJuly and continues to increase during the 11 year remaining base term andthe four 5 year renewals.

SALE PRICE: $3,588,000

CAP RATE: 6.0%

NOI: $215,297

LOT SIZE: 1.47 Acres

BUILDING SIZE: 5,007 SF

YEAR BUILT: 1999

2450 Coolidge, East Lansing, MI 48823

NNN APPLEBEE'S EAST LANSING MIFOR SALE | SINGLE TENANT RETAIL


PETER CPETER COLOLVINVIN

Council Chair Of Single Tenant [email protected]

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INVESINVESTMENT OTMENT OVERVERVIEWVIEW

Price $3,588,000

Price per SF $716.60

CAP Rate 6.0%

Cash-on-Cash Return (yr 1) 4.6 %

Total Return (yr 1) $103,463

Debt Coverage Ratio 1.24

OPERAOPERATING DTING DAATTAA

Gross Scheduled Income -

Other Income -

Total Scheduled Income -

Vacancy Cost -

Gross Income -

Operating Expenses -

Net Operating Income $215,297

Pre-Tax Cash Flow $41,262

FINANCING DFINANCING DAATTAA

Down Payment $897,000

Loan Amount $2,691,000

Debt Service $174,035

Debt Service Monthly $14,502

Principal Reduction (yr 1) (based on proposed new loan with 25% down, 4.2% interest, 25 year am.) $62,201


NNN APPLEBEE'S EAST LANSING MIFINANCIAL SUMMARY


NNN APPLEBEE'S EAST LANSING MIPOPULAR EAST LANSING




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NNN APPLEBEE'S EAST LANSING MIMEIJER OUT LOT




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Applebee's East Lansing Lease Summary

Start 12-Jun-08Term 20 YearsSize 5,007 SF on 1.465 Acres

Lease Year June 12th Rent1 2008 198,900$ 2 2009 202,878$ 3 2010 206,936$ 4 2011 211,475$ 5 2012 215,297$ 6 2013 215,297$ 7 2014 215,297$ 8 2015 215,297$ 9 2016 215,297$

10 2017 215,297$ 11 2018 236,827$ 10% +12 2019 236,827$ 13 2020 236,827$ 14 2021 236,827$ 15 2022 236,827$ 16 2023 260,509$ 10% +17 2024 260,509$ 18 2025 260,509$ 19 2026 260,509$ 20 2027 260,509$

Each 5 year renewal period has a 10% increase




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NNN APPLEBEE'S EAST LANSING MIGO GREEN!

OUR STORY: TEAM SHOSTAK FAMILY RESTAURANTS The Schostak family has had a footprint in Michigan for nearly 100 years. Since 1920, the company’s activities have included real estate development, acquisitions and leasing of retail, office, industrial, residential and mixed use projects, both urban and suburban. The fourth generation family based out of Livonia, MI currently operates commercial properties in several states throughout the Midwest as a full-service real estate development, management, leasing and consulting company.

In the early 1980s, an opportunity presented itself. The company was managing a shopping center in Alpena, MI. The BURGER KING® Corporation had an option on a site in front of the shopping center, but they could not find a qualified franchisee to start the operation. BURGER KING® turned to the Schostak’s and asked if they were interested in becoming the franchisee. The Schostak’s were looking to diversify their real estate business to include in the company’s portfolio a day-to-day operating business. This opportunity seemed to be a good fit and the first venture proved to be a success. Since then, the company has grown from 1 to 60 BURGER KING® restaurants located throughout Michigan. In July 2015, after being in business with BURGER KING® for 34 years, TEAM Schostak Family Restaurants sold our 60 BURGER KING® restaurants to GPS Hospitality in an effort to diversify our portfolio.

In April 2004, TEAM Schostak Family Restaurants entered into a development agreement with Olga’s Kitchen, Inc. to build restaurants in the Detroit Metropolitan area. Currently, there are 11 Olga’s in operation under this agreement. Additionally in 2015, TEAM Schostak Family Restaurants’ affiliate SOK Venture LLC acquired all assets of Troy, Mich.-based Olga’s Kitchen, Inc.

In July 2005, TEAM Schostak Family Restaurants introduced Michigan to Del Taco, a successful West Coast, Mexican concept. To date, four restaurants have been opened in Michigan. The first restaurant, located at the corner of Ford Road and Telegraph in Dearborn, set a franchise record for opening restaurant sales. In 2006, two more Del Taco restaurants opened to great success in Roseville and Warren. We added a fourth location in 2014 in the Livonia area and are looking to expand Del Taco throughout Michigan in the future.

In September 2012, TEAM Schostak Family Restaurants acquired 65 Restaurants Applebee’slocated throughout lower Michigan. Applebee’s is known for its fun and family-friendly neighborhood atmosphere, along with signature grill and bar menu items that guests can only get at Applebee’s.

In 2015, TEAM Schostak Family Restaurants entered into a franchise partnership with MOD Pizza. Based in Seattle, MOD’s individual artisan-style pizzas are made on demand, using fresh-pressed dough and signature sauces. Our plan is to open 25 MOD Pizza restaurants throughout Michigan during the next five years.

The key to our growth is continued focus on maintaining quality operations and our involvement in our local communities. We place guest service and community commitment as our top priorities. We provide local jobs and participate in community activities, such as school fundraisers, child identity programs, special character days and holiday events. TEAM Schostak Family Restaurants is dedicated to providing our communities with great restaurants that feature a clean, safe, family atmosphere. TEAM Schostak Family Restaurants is committed to a variety of civic and charitable organizations within the community, including the Juvenile Diabetes Research Foundation, Muscular Dystrophy Association and Make-A-Wish Michigan. We also support our communities by participating in selected Second Harvest Programs to provide food to disadvantaged families.

We are proud of our restaurants and our people!


NNN APPLEBEE'S EAST LANSING MIFOR SALE | RETAIL




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POPULAPOPULATIONTION 3 MILES3 MILES 5 MILES5 MILES 10 MILES10 MILES

TOTAL POPULATION 77,582 155,916 372,986

MEDIAN AGE 28.5 29.6 33.7

MEDIAN AGE (MALE) 28.6 29.3 32.6

MEDIAN AGE (FEMALE) 28.7 30.0 34.7

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 3 MILES3 MILES 5 MILES5 MILES 10 MILES10 MILES

TOTAL HOUSEHOLDS 27,265 58,498 149,806

# OF PERSONS PER HH 2.8 2.7 2.5

AVERAGE HH INCOME $55,374 $52,464 $59,537

AVERAGE HOUSE VALUE $159,245 $143,886 $170,866

A p

One of the largest full-service dining companies in the world. DineEquity was created from a foundation established by IHOP® - an American icon to our guests and a franchising company focused on providing strategic, visionary leadership for our franchisees, unparalleled opportunities for our team members, and enhancing value for our shareholders. By bringing Applebee's® together with IHOP in November 2007, we made a bold, new commitment to our brand-revitalization abilities and to the power of franchising. DineEquity has successfully made our two businesses more powerful and more successful than either brand could have been apart. Our dedicated focus combined with a core expertise in brand revitalization and franchising know-how is the basis for the winning formula that has defined the financial success of our business in recent years. As reported by Nation's Restaurant News, Applebee's and IHOP are the category leaders in casual and family dining, respectively. With more than 3,700 Applebee's and IHOP restaurants in 18 countries, a 99%-franchised system of 400 franchisee partners, and approximately 200,000 team members (at franchised restaurants), DineEquity is one of the largest full-service restaurant companies in the world.

With more than 2,000 restaurants in 50 states, Puerto Rico and 15 other countries around the world, Applebee's is one of the world's largest Casual Dining brands. Founded in 1980 in Atlanta, Georgia by Bill and T.J. Palmer, Applebee's offers classic bar-and-grill menu items featuring higher-quality ingredients and premium preparation techniques, reasonable prices, and quality service in a neighborhood setting. Today, we are building upon this heritage and further differentiating Applebee's to maintain the brand's position at the top of the Casual Dining segment. We expect to generate sustainable same-restaurant-sales momentum for the Applebee's brand by significantly increasing the effectiveness of Applebee's marketing efforts, making meaningful improvements to the operational performance of our restaurants, and continuously introducing fresh, innovative dishes for our guests to enjoy.


NNN APPLEBEE'S EAST LANSING MIFOR SALE | RETAIL




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Peter ColvinCouncil Chair of Single Tenant InvestmentsSVN | Silveri Company

Peter and his son Chris have built a very strong national practicehelping people buy and sell quality single tenant investment realestate leased long term to strong tenants.

Peter serves as the Chairman of the National Single Tenant Group forSVN. He is consistently one of the “Top 10 Advisors in America” for thecompany out of 1600 + Advisors.

Peter has over 10 years of investment real estate experience and hascompleted nearly two billion dollars in transactions.

Peter specializes in 1031 Exchanges. He helps clients exchange theirmanagement intensive properties into safe, long term "mailbox"money passive investments. His SVN Teammates count on Peter tohandle their clients' 1031's as well.

Peter hosts The National Single Tenant Call and has been a featuredspeaker at national conferences and events.

Peter has won numerous local, regional, and national awards,including The CoStar Power Broker Award and The Partner CircleAward (SVN's highest honor) for many consecutive years. He wasvoted The SVN Team Player of the Year for back to back years.

Peter and Chris helped create "The Dollar General Fund" which ownsnew NNN leased Dollar Generals that investors can purchase units infor long term cash flow.

Peter and Chris co-founded “Easy Leasebacks" which has become avery popular vehicle for growing companies to use real estate equityto creatively fund their growth.

Colvin earned degrees in business and music from Aquinas College inGrand Rapids, Michigan, where he resides with his wife, Deb and sons.He enjoys going on adventures with his cool wife Deb, playing footballwith his college middle linebacker Cody and playing tennis andgrowing the business with his son Chris.

Phone: 616.893.1398

Email: [email protected]

Cell: 616.893.1398

Address: 580 Cascade West Parkway, S.E.

Grand Rapids, MI 49546

NNN APPLEBEE'S EAST LANSING MI | 5,007 SF | EAST LANSING, MI

DISCLAIMER


The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of theproperty within and is not to be used for any other purpose. This information should not, under any circumstances, bephotocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or usedfor any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed inthis proposal, and no other person is authorized by the Owner to provide any information or to make anyrepresentations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained herein is or shall be relied upon as a promiseor representation as to the future representation of the Property. This Offering Brochure may include certain statementsand estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there canbe no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and allliability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, orany other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled torely solely on those representations and warranties that may be made to it in any final, fully executed and delivered RealEstate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not lookto Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates,for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conducttheir own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expresslyreserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property andexpressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed RealEstate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, aprospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and theSVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate PurchaseAgreement shall bind the property and each prospective purchaser proceeds at its own risk.

Documents

ABSOLUTE TRIPLE NET NNN APPLEBEE'S EAST LANSING MI · Applebee's is considered by many to be the best restaurant chain in ... programs, special character days and holiday events