Investment Overview

HIGH-YIELD 9.00% CAP RATE ABSOLUTE-NET STRUCTURE Passive Investment With Zero Landlord Responsibilities; Tenant Covers All Operating Expenses Including Roof, Structure, And Capital Items EXPERIENCED MULTI-UNIT FRANCHISE OPERATOR - 51 TOTAL LOCATIONS Corporate Guaranty Backed By Diversified Restaurant Portfolio Including 26 Spangles, 13 IHOP, And 12 Popeyes Locations CORPORATE HEADQUARTERS LOCATION BELOW REPLACEMENT COST Subject Property Serves As Spangles’ Corporate Headquarters, Anchoring Long- Term Operational Presence And Strategic Importance 10-YEAR LEASE WITH 10% RENTAL INCREASES Built-In NOI Growth Provides Predictable Income Escalation Throughout The Base Term And Option Periods Infill Site Positioned On 16,988 SF Parcel With Established Infrastructure In A Mature Commercial Corridor STRATEGIC WICHITA LOCATION DENSE URBAN CORRIDOR Located Along Hillside Street (11,010 VPD), A Primary North-South Arterial Providing Direct Access To Downtown Wichita And Surrounding Retail Nodes