Starbucks in Sedona

OFFERING MEMORANDUM

SEDONA ARIZONA Only Drive-Thru Free Standing Starbucks in Sedona

CONFIDENTIALITY AND 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

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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.

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(NEED TO UPDATE)

M O H AV E

66

Williams

64

89 180

T68 ABLE OF Kingman CONTENT40S

40

Flagstaff

Bullhead City

Investment Summary..........................................1

Investment40Highlights.........................................2 Aerial Map..........................................................5

Tenant Summary.................................................7

95

Site Plan............................................9.3..............11 Bagdad

AreaLMakeaHpa.v.a.s.u..C.i.ty..................................................13

Location Overview.............................................15

Location Highlights............................................16

Demographics...................................................18

Parker

71

93

89 Chino Valley

Clarkdale

Jerome Cottonwood 89A

279

89A Sedona

17

Prescott Valley

Prescott

Camp Verde

69 89

YAVA PA I

87

Payson 87

72 95

LA PAZ

60

Wickenburg

17

Cave Creek

188 87

10

95

60

10

60 Sun City West

M A R I C O PA

Surprise El Mirage

Sun City

Youngtown Peoria

Luke AFB Glendale

Fountain Hills

Paradise Valley

88

Litchfield Park

Goodyear Avondale

Tolleson Cashion

85

Scottsdale

Phoenix

Tempe 60

Mesa

Dreamland-Velda Rose Apache Junction

Buckeye

Guadalu8p7e Gilbert

Chandler

10

Williams AFB

60

Sun Lakes

85

87

89

Sacaton

Winsl 87

260

88

Claypool Central Heights MiamiGlobe

Superior

177

77

Kearny

INVESTMENT SUMMARY

1885 W HIGHWAY 89A, SEDONA, AZ 86336

PRICE: $3,657,895

OVERVIEW

Price Gross Leasable Area (GLA) Lot Size (approx.) Net Operating Income CAP Rate Year Built / Renovated

LEASE ABSTRACT

Lease Type Lease Term Remaining Lease Start Lease Expiration Renewal Options Increases Landlord Obligation

CAP: 3.80%

RENT: $139,000

$3,657,895 3,070 SF

0.58 Acres $139,000 3.80% 2013

ANNUALIZED OPERATING DATA

Lease Term Current 3/2021 Option 1 Option 2 Option 3 Option 4

Annual Rent $139,000 $152,000 $168,190 $185,009 $203,510 $223,861

NN 10 Years 9/21/2015 2/28/2026

4X5 See Sidebar Roof & Structure

1

INVESTMENT HIGHLIGHTS

Located at the corner of 89A & Kalof Place. Opposite corners are Natural Grocers, Walgreens, Subway and Goodwill anchored strip center, Domino's Pizza, and a Hampton's Inn Sedona. Bank of America is down the street, and Sedona Artist Market is 1 block to the west. A Safeway anchored center is located 2 blocks to the west, which also has a McDonald's outpad. Four blocks to the east is a Whole Foods and a Best Western Inn. Basha's and Safeway both have a Starbucks kiosk in their markets but this freestanding Starbucks is the only location with a drive-thru.

2

Strong visibility with over 30,000 vehicles passing in front of or near the site daily

Strict building laws in the region prohibits any other

drive-thru to be built

Affluent residential community where average

household income exceeds $92,037

Red Rock State Park and the crimson desert trails draw toursists and hikers from all over the world

Located just 7 miles from Sedona's famous Red Rock

State Park trail head

3

INVESTMENT HIGHLIGHTS

t 10 year corporate guaranteed Starbucks lease with minimal landlord responsibilities

t Only permitted drive-thru free standing unit in the region. Zoning restrictions prohibit any further drive thru retail construction

t Affluent artistic community located just outside Flagstaff, Arizona

t Average household income exceeds $92,037 in immediate area (3 mile radius)

t Located just 7 miles from the entrance to Sedona's famous Red Rock State Park trail head

11,650

TOTAL POPULATION WITHIN 5-MILE RADIUS

$91,448

AVERAGE HOUSEHOLD INCOME WITHIN 5-MILE RADIUS

30,329 VPD - HIGHWAY 89A

4

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