ACTUAL SUBJECT PROPERTY

INVESTMENT OFFERING

JOHN R. WERTZ
jwertz@restaurantnetlease.com
NICOLAS BOAS
nboas@restaurantnetlease.com
ARBYS | ESTERO, FL
Listed in conjunction with Florida broker
David B. Zacharia license BK3273628 of DZ
Net Lease Realty, LLC license CQ1043817 (619) 269-4564 | www.restaurantnetlease.com
CONFIDENTIALITY & DISCLAIMER

This Marketing Package was prepared by Restaurant Net Lease (RNL) (Broker) solely for the use of prospective buyer for the purchase of the
property known as Arbys located at 9975 Corkscrew Road, Estero, FL 33928 (the Property). Neither the Broker nor the Owner of the Property
make any representation or warranty, expressed or implied, as to the completeness or accuracy of the material contained in the Marketing Pack-
age.
Prospective purchasers of the Property are advised that changes may have occurred in the physical or financial condition of the Property since the
time this Marketing Package or the financial statements herein were prepared. Prospective purchasers acknowledge that this Marketing Package
and the financial statements herein were prepared by Broker, and not by Owner, and are based upon assumptions or events beyond the control of
both Broker and Owner, and therefore may be subject to variation. Other than current and historical revenue and operating expense figures for
the Property, Owner has not, and will not, provide Broker or any prospective purchaser with any projections regarding the Property. Prospective
purchasers of the Property are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
The Marketing Package is a solicitation of interest only and is not an offer to sell the Property. The Owner and Broker expressly reserve the right,
at their sole discretion, to reject any or all expression of interest or offers to purchase the Property and expressly reserve the right, at their sole
discretion, to terminate discussions with any entity at any time with or without notice.
The Owner shall have no legal commitments or obligations to any entity reviewing the Marketing Package or making an offer to purchase the
Property unless and until such offer is approved by Owner pursuant to its Governing Authorities and the signature of the Owner or Owners repre-
sentative is affixed to a Real Estate Purchase Agreement prepared by Owner.
This Marketing Package is confidential. By accepting the Marketing Package, you agree (i) that you will hold and treat the Marketing Package and
its contents in the strictest confidence, (ii) that you will not photocopy or duplicate any part of the Marketing Package, (iii) that you will not dis-
close the Marketing Package or any of its contents to any entity without the prior authorization of the Owner, and (iv) that you will not use the
Marketing Package in any fashion or manner detrimental to the Owner or Broker.
Restaurant Net Lease obtained the information contained in this Marketing Package from sources we believe to be reliable. However, we have not
verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions,
changes of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, as-
sumptions, or estimates for example only, and they may not represent current or future performance of the Property. You and your tax and legal
advisors should conduct your own investigations of the physical condition of the Property and of the financial performance of its future Owner-
ships.

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
FINANCIAL OVERVIEW

LOCATION ANNUALIZED OPERATING DATA

9975 CORKSCREW ROAD, Rent Increases Annual Rent Monthly Rent
ESTERO, FL 33928
Years 1-5 $90,000.00 $7,500.00
Price $1,714,286 Years 6-10 $96,750.00 $8,062.50
Down Payment 100% / $1,714,286 Years 11-15 $104,006.00 $8,667.17
Rentable Square Feet 3,219 SF Years 16-20 (Option 1) $111,807.00 $9,317.25
CAP Rate 5.25%
Years 21-25 (Option 2) $120,192.00 $10,016.00
Year Built 2000
Years 26-30 (Option 3) $129,207.00 $10,767.25
Lot Size 43,349 SF
Years 31-35 (Option 4) $138,897.00 $11,574.75
Type of Ownership Fee Simple

Base Rent $90,000.00

TENANT SUMMARY
Net Operating Income $90,000.00
Tenant Trade Name Arbys
Total Return 5.25% $90,000.00
Ownership Private
Tenant Franchisee
Lease Guarantor Franchisee Guarantee
Lease Type Absolute NNN
Roof and Structure Tenant Responsible
Lease Term 15 Years
Rent Commencement Date April 1, 2017
Lease Expiration Date March 31, 2032
Term Remaining on Lease 15 Years
Increases 7.5% every 5-Years
Options to Renew (4) 5-Year Options

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
TENANT OVERVIEW

Property Name Arbys

9975 Corkscrew Road,
Property Address
Estero, FL 33928
Property Type Net Lease Quick Service Restaurant
Roark Capital Group (81.5%)
Owners
The Wendys Company (18.5%)
ABOUT ARBYS RESTAURANT GROUP, INC.
Ownership Private
Arbys Restaurant Group, Inc. is a leading international quick-service
restaurant company operating in the United States. Arbys is the Tenant Franchisee
second-largest quick-service fast-food sandwich restaurant chain in
the U.S. in terms of units and third in terms of revenue, franchising Lease Guarantor Franchisee Guarantee
nearly 3,400 restaurants.
Lease Term Fifteen (15) Years
Roark Capital Group acquired Arbys in July 2011 and owns 81.5% of
Options to Renew (4) 5-Year Options
the company, with The Wendys Company owning the other 18.5%.
In addition to its classic Roast Beef and Been n Cheddar sandwiches, Lease Type Absolute NNN
Arbys products also include deli-style Market Fresh line of
sandwiches, Curly Fries and Jamocha Shakes. Its headquarters are in Landlord Responsibility None
Sandy Springs, Georgia.
Increases 7.5% Every 5-Years

ABOUT THE TENANT Year 1 Net Operating Income $90,000

The operator (Mosaic Investments Inc.), a very experienced and
No. of Locations 3,400+
successful growing Arbys franchisee, currently owns and operates
37 Arbys stores in Florida and North Carolina with 24 locations Headquartered Sandy Springs, Georgia
under the entity and lease guarantor, Mosaic RBFL, LLC. Mosaic
Investments is a fully integrated investment firm headquartered in Web Site www.arbys.com
Atlanta that specializes in acquiring and managing operating
Years in the Business Since 1964
businesses.

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
INVESTMENT OVERVIEW

INVESTMENT HIGHLIGHTS
The subject property is a freestanding Arbys located in Estero, Brand New 15-Year Absolute NNN Lease (Zero
Florida. This location has continuously been operating as an Arbys
Landlord Responsibilities)
for the past seventeen years. The tenant just signed a new 15-year
absolute NNN lease commencing April 2017, showing their com- 7.5% Rental Increases Every 5 Years (Throughout
mitment to the location. There are 7.5% rental increases every 5- Primary Term and Options)
years and (4) 5-year renewal option periods.
Arbys Has Been Doing Business Here for Over 17
This Arbys is located in the rapidly growing affluent city of Estero,
Years
Florida. Estero is ideally located in the center of Fort Myers and
Naples in Southwest Florida. The subject property is strategically Located at Signalized Intersection of Corkscrew Rd
located adjacent to the 7-Eleven gas station at the busy signalized and Three Oaks Pkwy (Over 40,000 Cars per Day)
intersection of Corkscrew Road and Three Oaks Parkway. The
property benefits from its excellent visibility and frontage along Affluent Neighborhood with Average Household
the most heavily trafficked east/west thoroughfare in Estero Income Exceeding $80,000 in a 1, 3, and 5-Mile
(Corkscrew Road), which boasts over 30,000 vehicles per day. Na- Radius
tional retailers in the immediate vicinity include Lowes, Ruby
Estero Has Been One of the Fastest Growing Areas
Tuesday, Wawa, Dollar Tree, 7-Eleven, Goodwill, Applebees, Cul-
vers, Dunkin Donuts, Starbucks, McDonalds, Publix, and CVS. in the U.S. (208% Population Growth Since 2000)

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
PROPERTY PHOTOS

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
PROPERTY PHOTOS

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
PROPERTY PHOTOS

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
BIRDS EYE

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
AERIAL PHOTO

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
LOCATION MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
AREA MAP

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
DEMOGRAPHIC ANAYLISIS REPORT
Population 1-Mile 3-Mile 5-Mile 2017 Est. Population by Age
2017 Total Population 5,186 38,184 71,162 Age 0 - 4 3.50% 3.50% 3.96%
2010 Census 4,569 32,289 62,011 Age 5 - 9 3.11% 3.46% 4.18%
Growth 2010 - 2017 13.50% 18.26% 14.76%
Age 10 - 14 2.60% 3.00% 4.15%
Growth 2000 - 2017 94.82% 208.81% 98.88%
Age 15 - 19 2.89% 7.19% 6.19%

Households Age 20 - 24 8.80% 9.34% 7.75%

2017 Households 2,403 15,381 28,532 Age 25 - 29 5.06% 3.93% 4.68%

2010 Census 2,183 13,718 26,202 Age 30 - 34 4.03% 3.82% 4.41%
Growth 2010 - 2017 10.08% 12.12% 8.89% Age 35 - 39 4.09% 3.51% 4.15%
Growth 2000 - 2017 74.15% 181.12% 90.40%
Age 40 - 44 3.30% 4.07% 4.94%
Age 45 - 49 3.85% 3.97% 5.14%
Income
Age 50 - 54 4.36% 4.87% 5.93%
Income: Less than $10,000 4.13% 4.58% 4.74%
Income: $10,000 to $14,999 3.31% 2.87% 3.43% Age 55 - 59 5.40% 6.29% 6.59%
Income: $15,000 to $19,999 6.45% 4.26% 4.32% Age 60 - 64 7.76% 9.44% 8.26%
Income: $20,000 to $24,999 4.27% 4.19% 4.41% Age 65 - 69 10.66% 12.49% 10.69%
Income: $25,000 to $29,999 8.08% 5.81% 6.03% Age 70 - 74 12.08% 10.52% 8.73%
Income: $30,000 to $34,999 5.31% 5.46% 5.55%
Age 75 - 79 8.86% 5.92% 5.50%
Income: $35,000 to $39,999 5.76% 5.09% 5.29%
Age 80 - 84 6.26% 2.90% 2.81%
Income: $40,000 to $44,999 4.22% 4.31% 5.71%
Age 85 years and over 3.40% 1.77% 1.95%
Income: $45,000 to $49,999 3.40% 3.35% 4.37%
Income: $50,000 to $59,999 8.26% 8.00% 7.88% 2017 Est. Pop by Single-Classification Race
Income: $60,000 to $74,999 9.40% 10.23% 9.84% White Alone 93.98% 92.88% 91.55%
Income: $75,000 to $99,999 9.17% 10.49% 10.22% Black or African American Alone 1.64% 1.57% 1.68%
Income: $100,000 to $124,999 9.76% 9.80% 8.92% Amer. Indian and Alaska Native Alone 0.08% 0.14% 0.23%
Income: $125,000 to $149,999 5.49% 5.37% 5.15%
Asian Alone 2.33% 1.79% 1.72%
Income: $150,000 to $199,999 7.08% 8.62% 7.34%
Native Hawaiian and Other Pac. Isl. Alone 0.00% 0.03% 0.03%
Income: $200,000 or more 5.90% 7.60% 6.83%
2017 Est. Average Household Income $82,717 $91,527 $86,144 Some Other Race Alone 0.74% 2.12% 3.32%

2017 Est. Median Household Income $56,125 $63,069 $57,839 Two or More Races 1.23% 1.47% 1.48%

The information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to
doubt its accuracy but regret we cannot guarantee it. References to square footage or age are approximate. Buyer must verify the infor-
mation and bears all risk for any inaccuracies. All properties subject to change or withdrawal without notice. Restaurant Net Lease, Inc.
 JOHN R. WERTZ
CA Lic No. 01448585
jwertz@restaurantnetlease.com

NICOLAS BOAS
CA Lic No. 01837495
nboas@restaurantnetlease.com

(619) 269-4564 | www.restaurantnetlease.com

Listed in conjunction with Florida broker

David B. Zacharia license BK3273628 of DZ
Net Lease Realty, LLC license CQ1043817