CORPUS CHRISTI, TX

A FOUR TENANT STRIP CENTER

CALALLEN STRIP CENTER

CALALLEN STRIP CENTER

7.00%CAP

$2,189,000PRICE

LEASEABLE SF6,250 SF

AVG INCOME$135,000+

LEASE TYPENN Roof & Structure

AVG LEASE TERM5.5 Years

PARKING42 Spaces

OCCUPANCY100%

14221 NORTHWEST BLVD, CORPUS CHRISTI, TX 78410

100% occupied four tenant strip center - shadow anchored by Starbucks

All four tenants have options to extend

Located on main retail corridor with traffic counts of 30,000+ VPD

Corpus Christi CSA population over 500,000

Average household income of $135k+ in a 1-mile radiusThis information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

2

Overview

THIS OFFERING consists of a Starbucks shadow anchored strip center located in Corpus Christi, Texas. The strip center has 4 internet resistant tenants - Jersey Mikes, Reserve Spa, Sports Clips, and Sabal Dentistry. The subject property is located part of a thriving retail sub-market with retailers including Walmart Supercenter and the Five Points Shopping Center, featuring stores such as Ross Dress for Less, Hobby Lobby, and CVS, among others. The subject property is is well positioned and enjoys a high visibility location along busy Northwest Boulevard which sees traffic counts of over 30,000 vehicles per day.

LOCATION OVERVIEW - Corpus Christi is one of the most prominent cities in South Texas, with a thriving economy, a major commerical port, and Naval Air Station. The subject property is located within the affluent Corpus Christi community of Calallen. Average household incomes are over $135,000 within a 1 mile radius of the property.

Contact the team

SPORTS CLIPS HAS OVER 1,600 LOCATIONS IN THE U.S. AND CANADA

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

RICK SANNERrsanner@capitalpacific.comPH: 415.274.2709CA DRE# 01792433

IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: 210.325.7578peter.e@sbcglobal.net

3

Investment Highlights

37

37

69E

69E

358

286

181

44

NORTHWEST

BOULEVARD

CORPUS CHRISTI

INTERNATIONAL AIRPORT

CHRISTUS SPOHN

HOSPITAL

CORPUS CHRISTI

MEDICAL CENTER

DEL MAR COLLEGE

CORPUS CHRISTI

MEDICAL CENTER

DRISCOLL CHILDREN’S

HOSPITALSCHOOLMIDDLE

SCHOOL

MIDDLE SCHOOL

HIGH SCHOOL

HIGH SCHOOL

GOLF COURSE

ELEMENTARY SCHOOL

ELEMENTARY SCHOOLMIDDLE SCHOOL

HIGH SCHOOL

ELEMENTARY SCHOOL

DOWNTOWN CORPUS CHRISTI

52,830 VPD

22,000 VPD

51,000 VPD

SAN ANTONIO

4This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Aerial

Dollar TreeO’Reilly Auto PartsAutoZoneDollar GeneralCricket WirelessFirestoneWalmart Supercenter

Popeye’s VerizonDenny’sHobby LobbyCVSRoss Dress for LessAT&T

SupercutsT-MobileWhataburgerWienerschnitzelWells Fargo Circle KMy Sister’s Closet

SURROUNDING RETAILERS

KEY 1-MILE 3-MILES 5-MILES

TOTAL 1-MILE 3-MILES 5-MILES

Businesses 222 505 982

Employees 2,661 5,393 10,227

Residential Population 4,399 15,284 38,967

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

5

Submarket Retail Business Summary

SUBJECT PROPERTY

Surrounding Retail

6

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

CURRENT PROPOSEDPrice: $2,189,000 $1,532,300Capitalization Rate: 7.00% 70%Price Per Square Foot: $350.24 5.00%Down Payment 30% $656,700 Amortization 25 YearLoan Amount 70% $1,532,300 Term 10 YearTotal Leased (SF): 100% 6,250 Net Operating Income $153,250

Total Vacant (SF): 0% 0 Debt Service ($107,492)Total Rentable Area (SF): 100% 6,250 Pre-Tax Cash Flow $45,758INCOME P/SF Debt Coverage Ratio 1.43Scheduled Rent $24.52 $153,250 Cash-on-cash Return 6.97%CAM Recoveries $2.51 $15,690 Principal Pay down (Year 1) $31,595Property Tax Recoveries $2.99 $18,674 Total Return $77,353Insurance Recoveries $1.09 $6,800 Yield 11.78%Trash, Electric & Sewer $1.68 $10,500Management $1.92 $12,000EFFECTIVE GROSS INCOME $216,914

EXPENSE P/SFProperty Taxes $2.99 $18,674Insurance $1.09 $6,800CAM $2.51 $15,690Trash, Electric & Sewer $1.68 $10,500Management Fee $1.92 $12,000TOTAL OPERATING EXPENSES ($10.19) ($63,664)

NET OPERATING INCOME $153,250

Proposed Loan Amount Loan To Value Interest Rate

PRO

POSE

D F

INA

NC

ING

/CA

SH F

LOW

7

Income & Expense

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

TENANT SQ. FT. % OF GLA MONTHLY RENT ANNUAL RENT RENT/FTJersey Mikes 1,500 24.00% 10/25/17 10/24/22 $3,000 $36,000 $24.00

Option 1 10/25/22 10/24/27 $3,300 $39,600 $26.40

Option 2 10/25/27 10/24/32 $3,625 $43,500 $29.00

Option 3 10/25/32 10/24/37 $3,988 $47,850 $31.90

Reserve Spa 1,500 24.00% 01/13/18 01/12/25 $3,000 $36,000 $24.00Option 1 01/13/25 01/12/30 $3,450 $41,400 $27.60

Option 2 01/13/30 01/12/35

Sports Clips 1,250 20.00% 07/12/17 07/11/22 $2,604 $31,250 $25.00Option 1 07/12/22 07/11/27 $2,865 $34,375 $27.50

Option 2 07/12/27 07/11/32 $3,151 $37,813 $30.25Sabal Dentistry 2,000 32.00% 09/29/17 09/30/22 $4,167 $50,000 $25.00

09/29/22 09/30/27 $4,583 $55,000 $27.50

Option 1 09/29/27 09/30/32 $5,042 $60,500 $30.25

Option 2 09/29/32 09/30/37 $5,547 $66,560 $33.28

OCCUPIED 6,250 100.00% TOTAL CURRENT $12,771 $153,250 $24.52

VACANT 0 0.00%

CURRENT TOTALS 6,250 100.00%

LEASE TERMSTERM

TENANT INFO RENT SUMMARY

Greater of Market Rent or $31.63

8

Rent Roll

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Jersey Mike’s Subs opened in 1956, in a small shop in the seaside town of Point Pleasant, New Jersey. Offering a new addition to American cuisine, the sub sandwich, Mike built his business on his delicious subs and exceptional customer service. Longtime employee Peter Cancro bought the store in 1972 at the age of 17 and began to expand shortly thereafter. In 1987, Peter changed the restaurant’s name to Jersey Mike’s Subs and began to franchise. Today, there are over 1,500 locations of Jersey Mike’s Subs open and under development, all offering the same stellar customer service and quality ingredients. National Restaurant News ranked Jersey Mike’s as the top growing sandwich shop per growth in total U.S. units, growing at a rate of 13.14% in 2017.

JERSEY MIKE’S

Reserve Spa is a nail salon offering trendy, fashion-forward nail designs. Customers can choose from services such as gel manicures, pedicures, traditional manicures, and nail art. Nail salons have consistently remained a needed service, bringing in $8.53 billion into the U.S. economy in 2017. Salons thrive in their ability to accommodate clients with appointments as well as walk-ins.

RESERVE SPA

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Tenant Overview

9

LOCATIONS IN THE U.S. 1,500+

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Headquartered in Georgetown, Texas, Sports Clips, a privately owned company, operates over 1,600 locations in all 50 states and Canada. Sports Clips markets its “Guy-Wise” stylist and casual, male-oriented atmosphere to men and boys. Founded in 1993 and franchised two years later, the company has ranked among the top 50 fastest-growing franchisees in Entrepreneur magazines’ Franchise 500 for the past seven years.

SPORTS CLIPS RUDI CLIPS INC.

Sabal Dentistry is a full service general dentistry company with 8 locations across Texas. Their success has been driven by their philosophy of patient-focused approach, stress-free experience, gentle touch, caring atmosphere and lasting results. They offer personalized dental care to thousands of families with services including dental cleaning, cosmetic dentistry, whitening, orthodontics, Invisalign, fillings, veneers, and much more. They have state-of-the-art equipment ensuring that their patients are getting the latest techniques and tools.

SABAL DENTISTRY

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

Tenant Overview

10

LOCATIONS IN U.S. AND CANADA 1,600+

42SPACES

6,250RENTABLE SF

NORTHWEST BOULEVARD

NO

RTH

WES

T B

OU

LEVA

RD DEN

TIST

NA

ILS

51,000 VPD

30,000 VPD

69E

69E

SCHOOL

HIGH SCHOOL CORPUS CHRISTI

MEDICAL CENTER

Site Plan

11This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

TOP EMPLOYERS

EMPLOYER # OF EMPLOYEES

Naval Air Station-Corpus Christi 9,773

Corpus Christi ISD 5,178

CHRISTUS Spohn Health Systems 5,144

H.E.B. 5,000

Corpus Christi Army Depot 3,541

2018 HH INCOME

1-MILE 3-MILES 5-MILES

Average $135,736 $109,223 $84,931

CORPUS CHRISTI

THE AVERAGE HOUSEHOLD INCOME WITHIN A 1-MILE RADIUS

IS OVER $135K

12

SAN ANTONIO(143 MILES)

HOUSTON(208 MILES)

POPULATION

1-MILE 3-MILES 5-MILES

2010 3,957 14,501 36,649

2018 4,399 15,284 38,967

2022 4,682 15,827 40,441

This site plan is a rendering that has been created based on sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies. 12

Demographics

CORPUS CHRISTI is the county seat of Nueces County, located at the Gulf of Mexico in Southeast Texas. As the 8th largest city in Texas and the 4th largest port in the United States, this the city has become the main hub of the six county Corpus Christi-Kingsville-Alice combined statistical area. The Port of Corpus Christi handles approximately 8,000 cargo ships annually. The city is also home to the Corpus Christi International Airport connecting the metro to markets around the globe. Offshore, Padre and Mustang islands shelter area bays providing beautiful beaches and a thriving tourist industry. Corpus Christi offers popular tourist attractions, a variety of hotels, cultural venues, shopping and dining options and best of all — Southern Texas hospitality.

THE CORPUS CHRISTI ECONOMY is heavily reliant on the Naval Air Station Corpus Christi, which is the largest employer in the city, directly employing over 9,773 people and contributing over $3.62 billion to the Texas economy in 2017.

The economy is also supported by the Eagle Ford Shale Play, a hotspot for oil drilling,and the second most-productive oil basin in the country producing approximately 1.4 million barrels of oil per day (bopd).

CORPUS CHRISTI ECONOMY

458,000

CORPUS CHRISTI POPULATION (ESTIMATED)

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

CORPUS CHRISTI, TEXAS

13

Location Overview

INDIANAPOLIS, INDIANA

This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.

RICK SANNERrsanner@capitalpacific.comPH: 415.274.2709CA DRE# 01440360

Copyright © 2018 Capital Pacific Partners

IN CONJUNCTION WITH TX LICENSED BROKER: Peter EllisPH: 210.325.7578peter.e@sbcglobal.net

CAPITALPACIFIC.COM

CAPITAL PACIFIC COLLABORATES. CLICK HERE TO MEET OUR SAN FRANCISCO TEAM:

JOE CACCAMOJOHN ANDREINI

ZANDY SMITH

DAVE LUCAS

RICK SANNER

CHRIS KOSTANECKIZEB RIPPLE CHRIS PETERS

JACK NAVARRAJUSTIN SHARP

JUSTIN STARK

We’d love to hearfrom you.

11-2-2015

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TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

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Information About Brokerage Services Texas law requires all real estate license holders to give the following information about

brokerage services to prospective buyers, tenants, sellers and landlords.

.

Designated Broker of Firm License No. Email Phone

Licensed Supervisor of Sales Agent/Associate

License No. Email Phone

Licensed Broker /Broker Firm Name or Primary Assumed Business Name

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IABS 1-0

Date Buyer/Tenant/Seller/Landlord Initials

Sales Agent/Associate’s Name License No. Email Phone