Highlights

• City takes advantage of GO Zone grants Laurel is scheduled to receive more than $1.3 million

• Original 20 Year NNN Corporate Lease

Description

Original 20 year NNN Corporate Lease with 10% bumps every 5 years. Lease expires December 21, 2022; tenant has two (2) five (5) year options to renew. Tenant is responsible for all taxes, insurance and maintenance of the property. There are no related Landlord expenses. Rent increases to $68,735 December 23, 2012 Cap Rate of 10.46%.

100% occupied and consists of the ownership of improved land occupied by a 2,462 square foot Captain D' s Seafood Restaurant building developed and constructed in 1986. The property is located in a niche location along Highway 15, which includes retail development and general development throughout the area in the City of Laurel, MS. To the north, it connects with I-20. Surrounding developments include an Arby' s to the north, a Ryan' s Steakhouse to the south (next store), an O' Reilly' s and Fred' s to the east and a parking lot to the west. Traffic along this highway is fairly strong. Many of the restaurants in Laurel are owned and operated as local businesses, but there are other National chains in the area which include Chick-Fil-A, McAlisters Deli, Burger King, Church' s Chicken, Domino' s and Subway. Population has been increasing within a mile radius with the majority of residents fall between the ages of 25 and 34 years.