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Smith Attawayy

ABC Liquor Store
La Fayette,
y , Alabama

Representational Picture

Investment Overview

Transactional Excellence
ABC
Table of Contents

Pages Section Title
1 Asset Overview
2 Asset Financials
3 Lease/Tenant Overview
4 Financing Terms
5 Comparables
6 Investment/Location Highlights

The information herein is believed to be true, however Smith Attaway LLC will not represent any information
herein. It is up to Individual investors to VERIFY ALL information prior to making an investment decision
Deal Overview

The Subject property is a Property is a ABC Beverage Store located in the Lafayette, AL MSA. Specifically
Lafayette, AL, Which is located South of Hogansville in Chambers County. The property was developed for ABC
Beverage in the spring 2008. In the Year and a Half that the store has been open it has become a top store in the State
of Alabama (there are 190 total store in AL), in terms of store sales.

The Lease is guaranteed by the State of Alabama through June 2017. ABC Beverage is a major revenue generator for
the state of Alabama. As with all state guaranteed leases should the state default the Guarantor becomes the United
States Treasury. Additionally the state signed a 15 year lease on the property with a rent increase in the original term
after Year 8. You know only have a strong guarantor but you also have your net operating income growing during the
initial term. There are two five year options at the end of the lease term with 10% increases.

The Things the Buyer is going to need to get comfortable with are as follows:

1.) Flat 15 Year Lease- With the 15 year lease the government has one out and that is if they get out of the liquor
business. This is most likely never going to happen as its generates a significant portion of the states revenue.

2.) Location: Lafayette Alabama is a very small town located about 20 minutes over the Georgia State line. At the
Georgia line 20 minutes away KIA has opened up a large manufacturing facility. This not only means customers for
the ABC store, but it also means wholesale business. A normal ABC Beverage store is 2,800 square feet. This one is
3,200 because Lafayette does so wholesale business. They actually left there old building and developed this store to
meet the demand.

On the following pages you will find a detailed financial overview of this asset including information on both ABC
Beverage. Should you have any further questions please feel free to contact us. Thank you for your interest and we
look forward to hearing from you in the near future

Best regards,

Andrew Ackerman
Co-Founder/President
Smith Attaway Company
(770)842-6904

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to Individual investors to
VERIFY ALL information prior to making an investment decision
Financial & Tenant Summary
Financial Summary

Price $530,000
Cap Rate 8.00%
Price Per Square Foot $166
Square Feet 3,200
Effective Gross Income $44,800
Expenses $2,400
Net Operating Income $42,400

Loan Summary
Loan to Value 75%
Down Payment $397,499
Interest Rate 7.00%
Amortization (Years) 20
Term (Years) 5
Annual Debt Service 36,982
Cash flow after Debt Service $5,418
Cash on Cash Return 4.09%

Tenant Summary
Tenant Name: ABC
Corporate Guarantee No
Publicly Traded No
Years in Business 190 Years
Number of Locations 196
Credit Rating A+

Lease Summary
Lease Commencement 5/7/2008
Lease Expiration 5/6/2023
Option Periods (With CPI Increase) Two (2) X Five (5) year options
Rent Increases during Option periods 10%
Lease Type Triple Net (NNN)

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to
Individual investors to VERIFY ALL information prior to making an investment decision
Lease Overview
Tenant Name ABC
Building Size (Sqft) 3,200
Annual Rent $44,800
Rent Per Square foot $14.00
Lease Commencement 5/7/2008
Lease Expiration 5/6/2023
Lease Term 15.00
Term Remaining on lease (Years) 13
Franchisee/licensee No
Corporate Guarantee Yes
Number of Stores 196
Number of Company Owned 196
Publicly Traded Yes
Net Worth $4.1 Billion
Sales Revenue $1.8 Billion

Lease Type Gross
Tenant Responsibility Landscaping

Landlord Responsibility Roof, Structure & Parking lot, Taxes, Insurance

Year Built 5/7/2008

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to
Individual investors to VERIFY ALL information prior to making an investment decision
Prospective Loan
Leverage: 75%
Price $530,000
Equity Required: 25% $397,499
Loan Amount $132,501
Prime Interest Rate 3.25%
Add'l BP 3.75%
Interest Rate 7.00%
Term 5
Amortization 20
Origination Fee $3,975
Debt Coverage Ratio 1.15
Annual Debt Service $36,982

Cash Flow After Debt Service $5,418.24
Cash on Cash Return 4.09%

*** Loan information may vary depending on the financial strength of the purchaser and the
financial markets fluctuating all perspective purchasers should speak to their bankers to obtain
an accurate loan quote.

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It
is up to Individual investors to VERIFY ALL information prior to making an investment decision
Cap Rate Comparison

9.00%
8.00%
7.00%
6.00%
Cap Rate

5.00%
4.00%
3.00%
2.00%
1.00%
0.00%
Subject Property Stafford, VA ABC Cottondale, AL ABC lincolnton, AL ABC 0 0 0

Property

Lease Term Remaining Comparison

16
Lease Term Remaining

14
12
10
8
6
4
2
0
Subject Property Stafford, VA ABC Cottondale, AL ABC lincolnton, AL ABC 0 0 0
Property

Price Per Square Foot Comparison

$500.00

$400.00
Price Per SF

$300.00

$200.00

$100.00

$0.00
Subject Property Stafford, VA ABC Cottondale, AL ABC lincolnton, AL ABC 0 0 0

Property

Rent Comprables

$30.00
$25.00
Rent Per SF

$20.00
$15.00
$10.00
$5.00
$0.00
Subject Property Stafford, VA ABC Cottondale, AL ABC lincolnton, AL ABC 0 0 0
Property

The information herein is believed to be true, however Smith Attaway LLC will not represent any information herein. It is up to Individual investors to VERIFY ALL information prior to
making an investment decision
Investment Highlights

State of Alabama Guarantee
(Backed by US treasurey) Rare 15 Year government lease

Strong store sale Brand New Construction

Wholesale as well as retail facility Rent increase after year 7

Location Highlights

Located on GA/AL boarder by
New KIA Plant No ABC Competition

Excellent Visibility and parking Strong Middle Class demographics

0

The information herein is believed to be true, however Smith Attaway LLC will not represent any information
herein. It is up to Individual investors to VERIFY ALL information prior to making an investment decision
Graphic Profile
Census, Estimates & Projections

Lon: -85.410091 / Lat: 32.883439 October 2008

-85.410091, 32.883439
1.00 Mile 3.00 Miles 5.00 Miles

Population
Population (1990) 234 1,760 3,655
Population (2000) 245 1,830 3,740

This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Estimated Population (2008) 235 1,741 3,544
Projected Population (2013) 229 1,687 3,425
Forcasted Population (2018) 220 1,607 3,249

Historical Annual Growth (1990-2000) 10 0.4 % 70 0.4 % 85 0.2 %
Historical Annual Growth (2000-2008) -10 -0.5 % -89 -0.6 % -196 -0.7 %
Historical Annual Growth (2008-2013) -6 -0.5 % -54 -0.6 % -119 -0.7 %

Est. Population Density (2008) 75.53 psm 62.19 psm 45.48 psm
Trade Area Size 3.11 sq mi 28.00 sq mi 77.91 sq mi

1.00 Mile 3.00 Miles 5.00 Miles
250 1,900 3,800
3,750
245 1,850 3,700
240 1,800 3,650
3,600
235 1,750 3,550
230 1,700 3,500
3,450
225 1,650 3,400
3,350
220 1,600 3,300
215 1,550 3,250
3,200
210 1,500 3,150
1990 2000 2008 2013 2018 1990 2000 2008 2013 2018 1990 2000 2008 2013 2018

Race & Ethnicity (2008)
Non Hispanic: White 72 30.5 % 618 35.5 % 1,359 38.3 %
Non Hispanic: Black / African American 160 67.9 % 1,090 62.6 % 2,110 59.5 %
Non Hispanic: Asian & Pacific Islander 0 0.0 % 1 0.1 % 4 0.1 %
Non Hispanic: Amer Indian & AK Native 0 0.0 % 0 0.0 % 1 0.0 %
Non Hispanic: Other Race 1 0.3 % 8 0.5 % 20 0.6 %

Hispanic: White 1 0.3 % 9 0.5 % 21 0.6 %
Hispanic: Black / African American 2 0.8 % 14 0.8 % 29 0.8 %
Hispanic: Asian & Pacific Islander 0 0.0 % 0 0.0 % 0 0.0 %
Hispanic: Amer Indian & AK Native 0 0.0 % 0 0.0 % 0 0.0 %
Hispanic: Other Race 0 0.0 % 0 0.0 % 0 0.0 %

1.00 Mile 3.00 Miles 5.00 Miles
0%
1%
0% 0%
1%
0% 1%
1%
0%
NH Black
31% NH Asian
35%
38%
NH White

NH Amer Indian
60%
0% 63%
68% Hispanics
0%
0% NH Other Race

Demographic Source: Applied Geographic Solutions / TIGER Geography

©2008 Sites USA, Chandler, Arizona, 480-491-1112 Page 1 of 3
Graphic Profile
Census, Estimates & Projections

Lon: -85.410091 / Lat: 32.883439 October 2008

-85.410091, 32.883439
1.00 Mile 3.00 Miles 5.00 Miles

Age Distribution (2008)
Total Population 235 1,741 3,544
Age 0 to 4 yrs 12 5.1 % 94 5.4 % 191 5.4 %

This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Age 5 to 9 yrs 14 6.0 % 107 6.2 % 213 6.0 %
Age 10 to 14 yrs 14 6.0 % 110 6.3 % 228 6.4 %
Age 15 to 19 yrs 17 7.4 % 131 7.5 % 266 7.5 %
Age 20 to 24 yrs 16 6.9 % 123 7.0 % 249 7.0 %
Age 25 to 29 yrs 15 6.2 % 103 5.9 % 198 5.6 %
Age 30 to 34 yrs 14 5.8 % 100 5.7 % 202 5.7 %
Age 35 to 39 yrs 13 5.7 % 98 5.6 % 200 5.7 %
Age 40 to 44 yrs 16 7.0 % 125 7.2 % 260 7.3 %
Age 45 to 49 yrs 16 6.9 % 118 6.8 % 241 6.8 %
Age 50 to 54 yrs 14 5.8 % 102 5.9 % 216 6.1 %
Age 55 to 59 yrs 11 4.9 % 95 5.5 % 210 5.9 %
Age 60 to 64 yrs 14 6.0 % 101 5.8 % 205 5.8 %
Age 65 to 69 yrs 9 3.9 % 73 4.2 % 156 4.4 %
Age 70 to 74 yrs 9 3.7 % 63 3.6 % 134 3.8 %
Age 75 to 79 yrs 8 3.6 % 59 3.4 % 118 3.3 %
Age 80 to 84 yrs 6 2.5 % 44 2.5 % 92 2.6 %
Age 85 yrs plus 16 6.6 % 95 5.4 % 164 4.6 %
Median Age 39.5 yrs 38.9 yrs 39.1 yrs

Male Female Male Female Male Female

0-4 0-4 0-4

5-9 5-9 5-9

10-14 10-14 10-14

15-19 15-19 15-19

20-24 20-24 20-24

25-29 25-29 25-29

30-34 30-34 30-34

35-39 35-39 35-39

40-44 40-44 40-44

45-49 45-49 45-49

50-54 50-54 50-54

55-59 55-59 55-59

60-64 60-64 60-64

65-69 65-69 65-69

70-74 70-74 70-74

75-79 75-79 75-79

80-84 80-84 80-84

85 + 85 + 85 +

0 10 0 20 40 60 80 0 40 80 120 160

Demographic Source: Applied Geographic Solutions / TIGER Geography

©2008 Sites USA, Chandler, Arizona, 480-491-1112 Page 2 of 3
Graphic Profile
Census, Estimates & Projections

Lon: -85.410091 / Lat: 32.883439 October 2008

-85.410091, 32.883439
1.00 Mile 3.00 Miles 5.00 Miles

Household Type (2008)
Total Households 80 633 1,352
Family Households 54 68.2 % 431 68.1 % 921 68.1 %

This report was produced using data from private and government sources deemed to be reliable. The information herein is provided without representation or warranty.
Family Households With Children 30 54.7 % 227 52.7 % 466 50.6 %
Family Households No Children 25 45.3 % 204 47.3 % 455 49.4 %
Non-Family Households 25 31.8 % 202 31.9 % 431 31.9 %
Non-Family With Children 0 0.6 % 2 1.0 % 4 0.9 %
Non-Family No Children 25 99.4 % 200 99.0 % 427 99.1 %

1.00 Mile 3.00 Miles 5.00 Miles
35 300 500
30 450
250 400 Fam HH w/Child
25 200 350
20 300 Fam HH no Child
150 250
15 200 Non-Fam w/Child
10 100 150
50 100 Non-Fam no Child
5 50
0 0 0

Educational Attainment (2008)
Elementary or Some High School 69 42.8 % 478 40.7 % 941 39.3 %
High School Graduate 47 29.4 % 364 30.9 % 753 31.4 %
Some College or Associates Degree 32 20.0 % 223 19.0 % 457 19.1 %
Bachelor or Graduate Degree 13 7.9 % 111 9.4 % 246 10.2 %

1.00 Mile 3.00 Miles 5.00 Miles

8% 9% 10%
Elementary/Some HS
20% 19% 39%
43% 41% 19%
HS Graduate

Some Coll/Assoc. Degree

Bachelor/Graduate Degree
29% 31% 31%

Household Income (2008)
Est. Average Household Income $38,623 $37,330 $36,564
Est. Median Household Income $25,231 $28,468 $30,313

HH Income $0 to $9,999 20 24.8 % 139 22.0 % 275 20.4 %
HH Income $10,000 to $34,999 28 35.6 % 223 35.2 % 475 35.1 %
HH Income $35,000 to $49,999 13 16.6 % 103 16.2 % 215 15.9 %
HH Income $50,000 to $74,999 12 14.9 % 100 15.8 % 222 16.4 %
HH Income $75,000 to $99,999 3 3.7 % 42 6.6 % 108 8.0 %
HH Income $100,000 to $149,999 2 2.4 % 14 2.2 % 32 2.4 %
HH Income $150,000 or More 2 2.1 % 13 2.0 % 25 1.8 %

Household Income Distribution (in 1,000's)
40.0%
35.0%
30.0%
25.0% 1.00 Mile
20.0%
15.0% 3.00 Miles
10.0%
5.0% 5.00 Miles
0.0%
$0 to $10 $10 to $35 $35 to $50 $50 to $75 $75 to $100 $100 to $150 $150 Plus

Demographic Source: Applied Geographic Solutions / TIGER Geography

©2008 Sites USA, Chandler, Arizona, 480-491-1112 Page 3 of 3
Exclusively Listed & Presented By:

The Pinnacle Building
3455 Peachtree Rd Suite 500
Atlanta, Georgia 30326
Phone: (770)842-6904
Email:Andrew.Ackerman@smithattaway.com

The information herein is believed to be true, however Smith Attaway LLC will not represent any information
herein. It is up to Individual investors to VERIFY ALL information prior to making an investment decision