Investment Overview

Original 20-Year Lease with Over 15-Years Remaining Single tenant Smart & Final located in a prominent shopping center at the corner of N. First Street & E Nees Ave in Northern Fresno Triple Net Lease with minimal Landlord management responsibilities (see Lease Abstract page) 7.5% Rent Increases Every 5-Years & 10% Rent Increases at each option The lease offers attractive predetermined rent increases of 7.5% every 5-years There are 10% rent increases at each of the 3, 5-year option periods Avg. HHI of $113K (1-Mile) | Near Medical Centers, Schools, and Residential Communities The subject is located approximately 1-mile north of Kaiser Permanente Medical Center Kastner Intermediate School is situated just 1/4-mile south of the subject The subject property is surrounded by densely populated residential communities with over 5,245 households and 12,743 residents within a 1-mile radius Average Household Incomes exceed $113,000 within a 1-mile radius Corporate Lease: Smart & Final Stores, LLC (250+ Locations) Smart & Final is headquartered in Commerce, CA and operates over 250 locations in the Western Region of the U.S. Estimated annual revenues exceed $4 Billion with over 11,000 employees Dense Infill Fresno Location Situated just East of Highway 41 The property is situated at the 4-way signalized corner of N First Street with excellent daily traffic counts of 20,047 VPD and E Nees Ave with high traffic counts of 29,504 VPD The subject is situated just east of Highway 41 (59,813 VPD), a north-south highway traversing all of Fresno and providing access to regional markets Surrounded by Nationally Recognized Tenants The property is situated at the prominent 4-way signalized corner of N First Street & E Nees Ave in Northern Fresno and surrounded by national retailers including: Walgreens, Starbucks, Dutch Bros, McDonald’s, Jimmy John’s, Taco Bell, Surf Thru Express Car Wash, Save Mart, Target, Barnes & Noble, Best Buy, Lowe’s, Kohl’s, In-N-Out Burger, Chick-fil-A, Dave & Buster’s and many more