99 Restaurant & Pub • Offering Memorandum 8675 Clinton St, New Hartford, NY 13413

N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any otherperson or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest inthe subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to theincome or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's orasbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancyof the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information containedherein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers musttake appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliationwith, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providingtenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

N E T L E A S E D D I S C L A I M E R

Marcus & Millichap hereby advises all prospective purchasers of Net Leased property as follows:

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Marcus & Millichap has not and will not verify any of this information, nor has Marcus & Millichap conducted anyinvestigation regarding these matters. Marcus & Millichap makes no guarantee, warranty or representation whatsoever about the accuracy or completeness of any information provided.

As the Buyer of a net leased property, it is the Buyer’s responsibility to independently confirm the accuracy and completeness of all material information before completing any purchase. This Marketing Brochure is not a substitute for yourthorough due diligence investigation of this investment opportunity. Marcus & Millichap expressly denies any obligation to conduct a due diligence examination of this Property for Buyer.

Any projections, opinions, assumptions or estimates used in this Marketing Brochure are for example only and do not represent the current or future performance of this property. The value of a net leased property to you depends on factorsthat should be evaluated by you and your tax, financial and legal advisors.

Buyer and Buyer’s tax, financial, legal, and construction advisors should conduct a careful, independent investigation of any net leased property to determine to your satisfaction with the suitability of the property for your needs.

Like all real estate investments, this investment carries significant risks. Buyer and Buyer’s legal and financial advisors must request and carefully review all legal and financial documents related to the property and tenant. While the tenant’spast performance at this or other locations is an important consideration, it is not a guarantee of future success. Similarly, the lease rate for some properties, including newly-constructed facilities or newly-acquired locations, may be set basedon a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenant and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply withother material terms of the lease; cash flow may be interrupted in part or in whole due to market, economic, environmental or other conditions. Regardless of tenant history and lease guarantees, Buyer is responsible for conducting his/herown investigation of all matters affecting the intrinsic value of the property and the value of any long-term lease, including the likelihood of locating a replacement tenant if the current tenant should default or abandon the property, and thelease terms that Buyer may be able to negotiate with a potential replacement tenant considering the location of the property, and Buyer’s legal ability to make alternate use of the property.

By accepting this Marketing Brochure you agree to release Marcus & Millichap Real Estate Investment Services and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this netleased property.

CONFIDENTIALITY & DISCLAIMER | PG. 2

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

99 RESTAURANTS - NEW HARTFORD, NYNew Hartford , NYACT ID ZAA0281197

INVESTMENT OVERVIEW 01

FINANCIAL OVERVIEW 02

LOCATION OVERVIEW 03

SECTION

E X C L U S I V E L Y L I S T E D B YKarly IaconoVice President Net Leased Properties GroupNational Retail GroupTel: (201) 742-6119karly.iacono@marcusmillichap.comLicenses: NJ 0345216, NY 10401274993www.iaconoretailgroup.com

JC CorrAssociateNet Leased Properties GroupNational Retail Group Tel: (201) 742-6181jc.corr@marcusmillichap.comLicense: NJ 1757580www.iaconoretailgroup.com

INVESTMENT

OVERVIEW

EXECUTIVE SUMMARY | PG. 5

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

Vital Data

Price $1,380,000

Cap Rate 6.75%

Price / SF $242.62

Rent / SF $16.38

Net Operating Income $93,170

Gross Leasable Area 5,688 Sq. Ft.

Year Built 2004

Lot Size 2.10 acres

Lease Type NNN

94,9605-Mile Population

38,1625-Mile Estimated Households

24,000Vehicles Per Day

LOCATION HIGHLIGHTS

OFFERING PRICE CAP RATE

$1,380,000 6.75%TERM REMAINING

4.9 Years8675 Clinton St

New Hartford, NY

35,000College Students in 5 Miles

INVESTMENT OVERVIEW | PG. 6

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

The Iacono Team of Marcus and Millichap is pleased to exclusively present a 99 Restaurant & Pub in New Hartford, NY. The property is part of a larger shopping center, known as The Orchard, and may be purchased individually or alongside the strip center. 99 Restaurants & Pub is subject to a NNN corporately guaranteed lease. There are 4.9 years remaining on the base term and four five-year option periods available. The tenant has been operating at this location since 2004 and recently exercised their second option period, demonstrating a strong commitment to the site. 99 Restaurant’s rent to sales ratio in 2018 was extremely low at 3.86%, making it a profitable location for the company.

99 Restaurants & Pub is a family-friendly chain with more than 100 locations throughout the Northeast. The chain was founded in 1952 and is headquartered in Woburn, MA. The chain serves more than 20 million customers annually. 99 Restaurants & Pub is owned by American Blue Ribbons Holding Company, known as ABRH for short. ABRH operates in the fast casual dining and family dining segments. They manage four distinct restaurants brands and an award winning bakery operation. Their restaurant portfolio includes O’Charley’s, Bakers Square, Village Inn, and Legendary Baking. ABRH is a majority owned subsidiary of Cannae Holdings. Cannae Holdings is a diversified holding company with investments in restaurants, technology, healthcare services, financial services and more. Cannae is listed on the New York Stock Exchange as “CNNE” and claims a book value of $1.19 billion according to their website.

The subject property is located in a dense retail corridor in New Hartford, NY. There are many prominent retailers near by including TJ Maxx, Barnes & Noble, Walmart, Target, DSW, Planet Fitness, Kohls, Best Buy and many more. The area is a high traffic location with more than 46,000 combined vehicles per day. Additionally, there are three colleges less than 5 miles from the subject property with more than 35,000 students enrolled. The area is heavily populated with more than 94.000 people residing within 5 miles.

NNN Corporately Guaranteed Lease

10% Rent Increases Every 5 Years

Low Rent to Sales Ratio | 3.86% in 2018

High Traffic Location | 24,000 VPD

Excellent Demographics | 94k+ People in 5 Miles

Tenant has Operated at this Location since 2004

Near Many Prominent Retailers such as Walmart, Target, TJ Maxx, DSW, Planet Fitness, Barnes & Noble and more

Adjacent Retail Strip also Available for Purchase

Investment Highlights

TENANT OVERVIEW | PG. 7

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

100+LOCATIONS

FOUNDED IN 1952

PARENT COMPANY

99 Restaurant and Pub is a family-friendly chain with more than 100 locations across the Northeast. The restaurant was founded in 1952 by Charlie Doe and is headquartered in Woburn, MA. According to their website, 99 Restaurant and Pub serves more than 20 million guests annually.

99 Restaurant and Pub is owned by American Blue Ribbons Holding Company, known as ABRH for short. ABRH operates in the fast casual dining and family dining segments. Their restaurant portfolio includes O’Charley’s, Bakers Square, Village Inn, and Legendary Baking. ABRH is a majority owned subsidiary of Cannae Holdings. Cannae Holdings is a diversified holding company with investments in restaurants, technology, healthcare services, financial services and more. Cannae is listed on the New York Stock Exchange as “CNNE” and claims a book value of $1.19 billion according to their website.

HEADQUARTERS: WOBURN, MA

FINANCIAL

OVERVIEW

FINANCIAL OVERVIEW | PG. 9

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

Offering Summary

Property Address 8675 Clinton St,New Hartford, NY

Price $1,380,00

Cap Rate 6.75%

Price / SF $242.62

Rent / SF $16.38

Property Description

Year Built 2004

Gross Leasable Area 5,688 Sq. Ft.

Lot Size 2.10 acres

Type of Ownership Fee Simple

Lease Summary

Property Subtype Net Leased Restaurant

Tenant 99 Restaurant & Pub

Lease Type NNN

Guarantor Corporate

Lease Commencement March 16, 2004

Lease Expiration October 7, 2024

Base Term Remaining 4.9 Years

Renewal Options Four 5-Year

Rent Increases 10% in each Option

Landlord Responsibility None

Tenant Responsibility Taxes, Maintenance, Insurance

Right of First Refusal NoAnnualized Operating Data

Year Annual Rent Monthly Rent

Rent/SF Cap Rate

Current $93,170 $7,764 $16.38 6.75%

2019-2024 $93,170 $7,764 $16.38 6.75%

Option 1 $102,487 $8,541 $18.02 7.43%

Option 2 $112,736 $9,395 $19.82 8.17%

Option 3 $124,009 $10,334 $21.80 8.99%

Option 4 $136,410 $11,368 $23.98 9.88%

LOCATION

OVERVIEW

REGIONAL MAP | PG. 11

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

8675 Clinton St, New Hartford , NY 13413

TENANT MAP | PG. 12

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

Sangertown Square

New Hartford Consumer Square

TRAFFIC MAP | PG. 13

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

DEMOGRAPHICS OVERVIEW | PG. 14

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

Demographics Summary

1 Miles 3 Miles 5 Miles

POPULATION

2023 Projection 3,075 44,178 95,091

2018 Estimate 2,949 43,913 94,960

2010 Census 2,979 44,172 95,617

2000 Census 2,805 44,238 91,852

INCOME

Average $61,124 $73,181 $66,540

Median $51,889 $55,110 $46,586

Per Capita $31,038 $31,971 $27,649

HOUSEHOLDS

2023 Projection 1,576 19,308 38,537

2018 Estimate 1,485 18,972 38,162

2010 Census 1,518 19,234 38,624

2000 Census 1,323 18,259 37,495

HOUSING

2018 $105,979 $112,929 $112,373

EMPLOYMENT2018 Daytime Population 4,361 54,710 111,193

2018 Unemployment 2.52% 3.32% 4.89%

2018 Median Time Traveled 17 18 18

RACE & ETHNICITY

White 94.63% 88.94% 75.05%

Native American 0.00% 0.02% 0.05%

African American 1.35% 4.23% 10.37%

Asian/Pacific Islander 2.54% 3.33% 7.98%

THE ORCHARD STRIP | PG. 15

99 Restaurant & Pub | 8675 Clinton St | New Hartford, NY

Adjacent Parcel with Retail Strip also Available for Purchase*May be purchased together as a portfolio or individually

Investment Highlights

Offering Summary

Price $1,925,000

Cap Rate 7.75%

Price / SF $324.68

Net Operating Income $149,140

Gross Leasable Area 5,929 Sq. Ft.

Year Built 2005

Lot Size 1.60 acres

Type of Ownership Fee Simple

100% Occupied Fully Stabilized Center

Amazon Proof | All Tenants are Service Based

High Traffic Location | 24,000 VPD

Excellent Demographics | 94k+ People in 5 Miles

Near Many Prominent Retailers such as Walmart, Target, TJ Maxx, DSW, Planet Fitness, Barnes & Noble and more

Three Colleges are Located within 5 Miles | 35,000+ Students

Adjacent 99 Restaurant & Pub also Available for Purchase

E X C L U S I V E L Y L I S T E D B YKarly IaconoVice President Net Leased Properties GroupNational Retail GroupTel: (201) 742-6119karly.iacono@marcusmillichap.comLicenses: NJ 0345216, NY 10401274993www.iaconoretailgroup.com

JC CorrAssociateNet Leased Properties GroupNational Retail Group Tel: (201) 742-6181jc.corr@marcusmillichap.comLicense: NJ 1757580www.iaconoretailgroup.com