CBRE, Inc. | Licensed Real Estate Broker

Former Bank Branch-1301 US 41 BypassFOR SALE

VENICE, FLORIDA 34285

PRESENTED BY

Paul RutledgeFirst Vice President +1 813 273 8471 paul.rutledge@cbre.com

Kelsey CanslerSales Associate+1 813 273 8426kelsey.cansler@cbre.com

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENTCBRE, Inc. operates within a global family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates may represent various clients with competing interests in the same transaction. For example, this Memorandum may be received by our Affiliates, including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates may express an interest in the property described in this Memorandum (the “Property”) may submit an offer to purchase the Property and may be the successful bidder for the Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. nor any involved Affiliate will have any obligation to disclose to you the involvement of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, Inc. will act in the best interest of the client(s) it represents in the transaction described in this Memorandum and will not act in concert with or otherwise conduct its business in a way that benefits any Affiliate to the detriment of any other offeror or prospective offeror, but rather will conduct its business in a manner consistent with the law and any fiduciary duties owed to the client(s) it represents in the transaction described in this Memorandum.

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property.

This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties

are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property.

The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.

By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to CBRE, Inc.

© 2017 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

TABLE OF CONTENTS

Executive Summary 4

Property Facts .........................................4

Property Summary ................... 5

Property Description ................................6

Population Density Map. ......................... 7

Demographic Heat Map .........................8

Area Retailers .........................................9

Market Overview ..................................10

Strengths & Opportunities ..................... 11

Demographics ......................................12

EXECUTIVE SUMMARY

Paul RutledgeFirst Vice President +1 813 273 8471 paul.rutledge@cbre.com

Kelsey CanslerSales Associate+1 813 273 8426kelsey.cansler@cbre.com

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EXECUTIVE SUMMARY

Introduction

CBRE is pleased to offer for sale a ±3,935 SF vacant bank branch building and property located at 1301 US 41 Bypass in Venice, FL. The building is currently occupied by Wells Fargo which will be vacating the building soon. Therefore the property is being marketed as a vacant building for a potential owner-occupant or an investor with an alternative use

• Located near US 41

• Easy access and excellent visibility

• High parking ratio

• Four drive-thru lanes

• Restriction against use as a financial institution for 2 years.

WELLS FARGO BANK BUILDING PROPERTY FACTS

Address: 1301 US 41 Bypass, Venice, FL 34285

Building Size (GLA): ±3,935 SF with 4 drive-thru lanes

Year Built: 1990

Land Area: ±1.223 Acres

Parking: 26 spaces / 6 per 1,000 SF

Zoning: CI

Asking Price: $1,300,000

WELLS FARGO BANK BUILDING PROPERTY FACTS

Address: 1301 US 41 Bypass, Venice, FL 34285

Building Size (GLA): ±3,935 SF with 4 drive-thru lanes

Year Built: 1990

Land Area: ±1.223 Acres

Parking: 26 spaces / 6 per 1,000 SF

Zoning: CI

Asking Price: $1,300,000

PROPERTY SUMMARY

PROPERTY DESCRIPTIONADDRESS : 1301 US 41 Bypass, Venice, FL 34285

LOCAT ION: Located in Venice, Florida, at the US 41 bypass, just north of Center Road

BUI LD ING OWNERSHIP:

Wells Fargo

BUI LD ING S IZE :

±3,935 SF - VACANT

PROPERTY DESCR IPT ION:

Wells Fargo-Venice consists of a free-standing building of 3,935 square feet.

LAND AREA : 53,351 square feet or ±1.22 AC

YEAR BU I LT: 1990

PARK ING : 26 parking spaces

ZONING : CI (Commercial Intensive), Sarasota County

TRAFF IC COUNT:

US 41 Bypass 38,500 AADT Center Road 15,800 AADT

CONDIT IONS : • Buyer to analyze and determine through investigaation by professional services.

• May not be used as financial institution for 2 years.

NO REPRESENTATIONS OR WARRANTIES BY SELLER. BUYER AND ITS PROFESSIONALS MUST DETERMINE COST FOR ASSOCIATION ASSESSMENTS, COSTS, TAXES, INSURANCE, AS MAY BE APPLICABLE.

SUBJECT PROPERTY

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SUBJECT PROPERTY

W E L L S F A R G O - 1 3 0 1 U S 4 1 B Y P A S S , V E N I C E

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SUBJECT PROPERTY

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VENICE MUNICIPAL

AIRPORT

SubjectProperty

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sarasota CountyLeasing activity

Sarasota County’s retail market closed the year with strong leasing activity that pushed vacancy to record lows with strong net absorption and rising lease rates. In Q4 2016 vacancy was 3.9%, similar to previous in quarters in 2016 and the lowest rate recorded in nearly 10 years. Net absorption remained steady in 2016 compared to the previous year and with limited deliveries of new space, the market is anticipated to tighten further both in terms of vacancy and rent. Lease rates continued to climb in 2016, reaching over $16.50, triple net. Lease rates have improved for the past six years with room for continued growth as rates have not reached pre-recession levels.

outlook

The outlook for the retail market in Sarasota County is positive. Economic indicators show stable unemployment of 4.3% and rising median home price of $264,500 as of December. Job growth of 4.1% occurred in the services sector with 3.5% growth in both retail trade and leisure and hospitality sectors. Sale volume across all property types remained high in 2016 with cap rates ranging from 5.75% to 7.25%. Strong leasing and economic fundamentals will contribute to the growth of Sarasota’s retail market, which will continue to attract investors to this growing market. far in 2015, this trend remains in place.

STRENGTHS & OPPORTUNITIES

The subject site sits on US 41 Bypass, which is the downtown bypass, and Center Road which is the east/west road that bifurcates both US 41 and Al 41. This gives a strong local market access, while also supporting a number of commuter drivers. Center Road going east and west provides linkage to Jacaranda Boulevard and then onto I-75.

STRENGTHS

• Improved site

• Existing building with drive-thru lanes

• Great traffic counts: US 41 Bypass AADT – 38,500

• Excellent national credit tenants

OPPORTUNIT IES

• Can be retrofitted for other preferred uses or used as is

• Large enough to accommodate a high quality national tenant

• Value growth in market

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DEMOGRAPHICSDEMOGRAPHIC BRIEF

2977 CLEVELAND AVE

1 MILE 3 MILES 5 MILES

2016 Population - Current Year Estimate 11,573 51,221 146,392

2021 Population - Five Year Projection 12,863 57,384 161,809

2010 Population - Census 10,449 45,527 132,805

2000 Population - Census 11,977 45,588 126,694

2010-2016 Annual Population Growth Rate 1.65% 1.90% 1.57%

2016-2021 Annual Population Growth Rate 2.14% 2.30% 2.02%

2016 Households - Current Year Estimate 4,805 21,633 60,834

2021 Households - Five Year Projection 5,349 24,279 67,184

2010 Households - Census 4,343 19,186 55,330

2000 Households - Census 5,024 18,628 51,883

2010-2016 Annual Household Growth Rate 1.63% 1.94% 1.53%

2016-2021 Annual Household Growth Rate 2.17% 2.33% 2.01%

2016 Average Household Size 2.31 2.29 2.35

2016 Average Household Income $49,894 $51,219 $57,129

2021 Average Household Income $53,054 $55,099 $62,370

2016 Median Household Income $31,720 $33,823 $39,336

2021 Median Household Income $32,113 $35,595 $43,328

2016 Per Capita Income $21,790 $22,631 $24,464

2021 Per Capita Income $23,034 $24,230 $26,548

2016 Housing Units 6 ,322 29 ,611 82 ,630

2016 Vacant Housing Units 1,517 24.0% 7,978 26.9% 21,796 26.4%

2016 Occupied Housing Units 4,805 76.0% 21,633 73.1% 60,834 73.6%

2016 Owner Occupied Housing Units 1,954 30.9% 8,162 27.6% 31,677 38.3%

2016 Renter Occupied Housing Units 2,851 45.1% 13,471 45.5% 29,157 35.3%

2016 Population 25 and Over 8 ,067 34 ,883 104 ,616

HS and Associates Degrees 4,408 54.6% 20,324 58.3% 63,906 61.1%

Bachelor's Degree or Higher 1,978 24.5% 8,351 23.9% 23,664 22.6%

2016 Businesses 1,122 5,002 11,138

2016 Employees 8,773 50,563 112,596

©2017 CBRE. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are forexample only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the propertyfor your needs. Source: Esri Page 1 ProjectID:163140

POPULAT ION

HOUSEHOLDS

HOUSEHOLD INCOME

HOUS ING UN ITS

EDUCAT ION

PLACE OF WORK

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ShoppeS at armeniaFormer Bank Branch-1301 US 41 BypassFOR SALE

VENICE, FLORIDA 34285

CONTACT USPaul RutledgeFirst Vice President +1 813 273 8471 paul.rutledge@cbre.com

Kelsey CanslerSales Associate+1 813 273 8426 kelsey.cansler@cbre.com