WACO, TX

MARY UPARKS TWO

2F INANCIAL ANALYSIS

MARY UPARKS TWOPRICING & FINANCIAL ANALYSIS

OFFERING SUMMARYPrice $5,590,000

Cap Rate 6.25%

Net Operating Income $349,420

Price PSF $388.87

Occupancy 100.0%

Year Built 2018

Gross Leasable Area 14,375 SF

Lot Size 1.26 Acres

Mary UParks Two315 S University Parks DrWaco, TX 76701

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3F INANCIAL ANALYSIS

MARY UPARKS TWOPRICING & FINANCIAL ANALYSIS

PROJECTED INCOME & EXPENSES CURRENT PSF

Base Rent - Occupied Space 100% $349,419 $24.31

GROSS POTENTIAL RENT $349,419 $24.31

Expense Reimbursements

Real Estate Tax Recoveries $106,489 $7.41

Insurance Recoveries $6,137 $0.43

CAM Recoveries $18,740 $1.30

Management Fee Recoveries $18,000 $1.25

Total Expense Reimbursements $149,366 $10.39

Water/ Sewer $12,804 $0.91

EFFECTIVE GROSS REVENUE $511,590 $35.59

Operating Expenses

Total CAM $18,740 $1.33

Management Fee 3.50% $18,000 $1.25

Total Insurance $6,137 $0.44

Total Real Estate Taxes $106,489 $7.58

Total Recoverable Expenses $149,366 $10.39

Total Non-Recoverable Expenses $12,804 $0.91

TOTAL OPERATING EXPENSES $162,170 $11.28

NET OPERATING INCOME $349,420 $24.31

EXPENSES CURRENT PSF

Real Estate Taxes $106,489 $7.58

Insurance $6,137 $0.44

CAM

Alarm/Fire protection $360 $0.03

Roof Repairs $2,718 $0.19

Pest Control $766 $0.05

Electric $2,718 $0.19

Backflow Inspections $525 $0.04

Trash Removal $4,617 $0.33

Parking lot / landscaping $3,436 $0.24

Irrigation $1,440 $0.10

Grease Trap $1,700 $0.12

Recycling $460 $0.03

Total CAM $18,740 $1.33

Management Fee 3.50% $18,000 $1.25

Total Recoverable Expenses $149,366 $10.39

Total Non-Recoverable Expenses $12,804 $0.91

TOTAL OPERATING EXPENSES $162,170 $11.28

For Financing Options, Please Contact:

Greg Holley | Managing PartnerHigh St Capital(O) 469-998-7200 | (C) 714.514.2990gholley@highstcapital.com

4F INANCIAL ANALYSIS

MARY UPARKS TWORENT ROLL

Tenant Suite SQ FT % of SQFT Lease Dates Minimum Rent Recoveries Total

Start End Annual Monthly PSF Annual PSF Revenue% of

Revenue

900 Degrees 100 2,197 15.28% 05/18 08/23 $61,516 $5,126 $28.00 $22,828 $10.39 $84,344 16.91%

J-Petal 120 1,634 11.37% 05/18 05/28 $42,484 $3,540 $26.00 $16,978 $10.39 $59,462 11.92%

Posh $ Company 140 3,165 22.02% 06/19 06/29 $83,081 $6,923 $26.25 $32,886 $10.39 $115,968 23.25%

Putters 170 7,379 51.33% 08/18 01/25 $162,338 $13,528 $22.00 $76,673 $10.39 $239,011 47.92%

Total Count/GLA 4 14,375 100% Totals $349,419 $29,118 $149,366 $498,785 100.00%

Occupied 4 14,375 100.0%

Available 0 0 0.0%

Total Avg Rent $24.31 14,375 100.0%

Tenant Suite SQ FT % of SQFT Real Estate Taxes Insurance CAM Management Fee Total Recovery

Monthly PSF Monthly PSF Monthly PSF Monthly PSF Monthly PSF

900 Degrees 100 2,197 15.28% $1,356 $7.41 $78 $0.43 $239 $1.30 $229 $1.25 $1,902 $10.39

J-Petal 120 1,634 11.37% $1,009 $7.41 $58 $0.43 $178 $1.30 $171 $1.25 $1,415 $10.39

Posh $ Company 140 3,165 22.02% $1,954 $7.41 $113 $0.43 $344 $1.30 $330 $1.25 $2,741 $10.39

Putters 170 7,379 51.33% $4,555 $7.41 $263 $0.43 $802 $1.30 $770 $1.25 $6,389 $10.39

TOTALS 14,375 100% $8,874 $511 $1,562 $1,500 $12,447

ESTIMATED REIMBURSEMENT REVENUE

5F INANCIAL ANALYSIS

MARY UPARKS TWOLEASE PROVISIONS

Tenant Suite SQ FTBase Rental Increases

Renewal OptionsUser Restrictions & Exclusive Rights

Date PSF Options Date PSF

900 Degrees 100 2,197 - - 2 x 5 9/1/2023 9/1/2028

Mkt Mkt

No other tenant's pizza sales may exceed 10%

J-Petal 120 1,634 5/8/2023 29.90 2 x 5 9/1/2028 9/1/2033

Mkt not to exceed 10% Mkt not to exceed 10%

Exclusive seller of crepes and no other tenant's ice cream sales may exceed 10%

Posh $ Company 140 3,165 6/14/2024 28.87 - - - -

Putters 170 7,379 - - - 8/1/2023 8/1/2028

Mkt not to exceed 10% Mkt not to exceed 10%

-

TOTAL 14,375

6PROPERTY DESCRIPTION

MARY UPARKS TWOTENANT INFORMATION

DBA POSH Spa & Lounge

Entity on Lease POSH Nail Lounge, LLC

Public/Private Private

Line of Business POSH Spa and Lounge defines itself as a new concept in the nail business industry. Their

main focus is on the customers and their complete satisfaction and wellness. The experience

at POSH will always be about the customer.

DBA Putter’s

Entity on Lease Putter’s, LLC

Locations 1

Public/Private Private

Line of Business Putter’s is your top entertainment destination in downtown Waco with its indoor putt putt,

arcade and nightlife. Locals and tourists enjoy birthday parties and family outings by day.

By night, Putter’s is available for all visitors looking for a night out on the town.

DBA J-Petal Japanese Crepes/Thai Ice Cream

Corporate/Franchise Franchise

Public/Private Private

Line of Business Starting with just one store in Brooklyn, JPetal is now a franchise brand with multiple

stores spread across the US. JPetal Crepes originated from Japanese Crepes; however

the founders modified the original recipes and created unique flavors made with fresh

ingredients.

7PROPERTY DESCRIPTION

MARY UPARKS TWOTENANT INFORMATION

DBA 900 Degrees Pizzeria

Entity on Lease 900 Degrees Pizzeria

Public/Private Private

Line of Business 900 Degrees Pizzeria was founded in 2012 to provide its clients fast and fresh pizza.

The brothers are excited to bring their passion for pizza to this new location as well as

continuing their family’s legacy. Choose from one of their specialty pizzas or build your own

any way you like it and watch as it’s made in front of you at 900 degrees.

8PROPERTY DESCRIPTION

MARY UPARKS TWOINVESTMENT HIGHLIGHTS

• • Complete Renovation: The Property was Completely Renovated in 2018, Including Roof and Facade.

• • Waco Convention Center: Property is Located Adjacent to the Waco Convention Center Driving Additional Traffic to the Property.

• • Walkability: The Area Around the Center is Extremely Walkable Bringing tons of Foot Traffic. The City of Waco Plans to Convert Mary Ave into a Festival Street, Meaning Retail on Both Sides Facing Mary Ave and Further Increasing Walkability of the Center.

• • River Square Retail: The Property sits Adjacent to River Square Shopping Center, a High Performing Retail Development.

• • Magnolia: Less than Half a Mile from Magnolia Market, Which Attracts 33,665 Visitors per Week.

• • Baylor University: Close Proximity to Baylor University (16,186 Students) and McLane Stadium (45,140 Capacity).

• • I-35 Improvements: Along with the Additional Lanes, an Updated Underpass at 11th and 12th Streets will Change the way Traffic Flows from the East Side of 35 (Baylor University) to the West Side of 35. The New Addition will Allow Better Flow of Traffic to the West Side and will Accomodate Bicycle Traffic as well as Sidewalks and Crosswalks Leading to More Foot Traffic.

• • Surrounding Retail: Wing Stop, Fuzzy’s Taco Shop, Cricket’s Grill & Drafthouse, Ninfa’s, Diamondback’s and Many More.

9PROPERTY DESCRIPTION

MARY UPARKS TWOSITE PLAN

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10PROPERTY DESCRIPTION

MARY UPARKS TWOAERIAL MAP

Magnolia MarketMagnolia Market

96,4

23 V

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Baylor UniversityBaylor University

15,037 VPD

S UNIVERSITY PA

RKS DR

S UNIVERSITY PA

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11PROPERTY DESCRIPTION

MARY UPARKS TWOLOCAL MAP

12PROPERTY DESCRIPTION

MARY UPARKS TWOREGIONAL MAP

13PROPERTY DESCRIPTION

MARY UPARKS TWOMARKET SUMMARY

Waco, TX

O V E R V I E W

Waco is a city in central Texas and is the county seat of McLennan County. The city is situated along the Brazos River and I-35, halfway between Dallas and Austin. The city had a 2018 population estimate of 138,183, making it the 22nd-most populous city in the state of Texas. The Waco Metropolitan Statistical Area consists of McLennan and Falls Counties, which had a 2017 population estimate of 268,696. Falls County was added to the Waco MSA in 2013.

Waco was founded in 1849 on the site of a Waco (Hueco) Indian village near Fort Fisher, a Texas Rangers outpost, in a farming and plantation area. After the Civil War, Waco became a river-bridge crossing on cattle trails. Later its economy was based almost exclusively on cotton, and the coming of the railroad stimulated economic growth. World War II brought two large air-force installations (now closed) and the beginning of industrialization.

Waco still depends partly on crops and livestock, but manufacturing (including clothing,

machinery, tires and glass) and service industries have broadened its economic base. Waco has become a unique tourist destination as well as an appealing place to live and do business because of its rich diversity, abundant natural resources, convenient location and numerous amenities.

Waco is also home to Baylor University, an institution of higher learning with an enrollment of nearly 17,000 students. Baylor is the oldest continuously operating university in Texas and one of the first educational institutions west of the Mississippi River in the United States.

Additionally, Waco is the site of the Cameron Park Zoo, the popular Texas Sports Hall of Fame, and the Texas Ranger Hall of Fame and Museum. Other notable attractions include the Dr. Pepper Museum (where the soft drink was first bottled) and Baylor’s Mayborn Museum Complex, which includes a natural history museum and a historic village.

14PROPERTY DESCRIPTION

MARY UPARKS TWODEMOGRAPHIC STATISTICS

1 Mile 3 Mile 5 Mile

Population:2024 Projection 14,267 83,934 139,0762019 Estimate 12,926 79,288 131,6992010 Census 8,291 70,692 119,326Growth 2019-2024 10.37% 5.86% 5.60%Growth 2010-2019 55.90% 12.16% 10.37%2019 Population Hispanic Origin 4,370 33,754 48,850

2019 Population by Race:White 8,310 54,257 94,095Black 3,486 20,234 30,241Am. Indian & Alaskan 375 1,340 1,991Asian 492 1,727 2,341Hawaiian & Pacific Island 4 75 149Other 259 1,655 2,882U.S. Armed Forces: 15 80 118

Households:2024 Projection 4,218 28,568 51,5212019 Estimate 3,740 26,953 48,7362010 Census 1,891 23,786 43,786Growth 2019 - 2024 12.78% 5.99% 5.71%Growth 2010 - 2019 97.78% 13.31% 11.30%Owner Occupied 1,031 10,788 21,708Renter Occupied 2,709 16,164 27,028

2019 Avg Household Income $35,222 $42,432 $50,241 2019 Med Household Income $21,438 $28,250 $34,226

2019 Households by Household Inc:<$25,000 2,097 12,076 17,853$25,000 - $50,000 896 7,826 14,441$50,000 - $75,000 321 3,366 7,059$75,000 - $100,000 257 1,910 4,409$100,000 - $125,000 58 748 2,307$125,000 - $150,000 23 198 641$150,000 - $200,000 23 298 901$200,000+ 66 531 1,124

Demographic data © CoStar 2019

The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from STRIVE and it should not be made available to any other person or entity without the written consent of STRIVE. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property at this time, please return this offering memorandum to STRIVE.

This offering memorandum has been prepared to provide summary, unverified financial and physical information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. STRIVE has not made any investigation, and makes no warranty or representation with respect to the income 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, PCBs or asbestos, the compliance with local, 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 occupancy of the subject property. The information contained in this offering memorandum has been obtained from sources we believe to be reliable; however, STRIVE has not verified, and will not verify, any of the information contained herein, nor has STRIVE 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 must take appropriate measures to verify all of the information set forth herein. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT STRIVE AGENT FOR MORE DETAILS.

CONFIDENTIALITY AGREEMENT

STRIVE hereby advises all prospective purchasers of commercial property as follows:

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

As the Buyer of a commercial 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 your thorough due diligence investigation of this investment opportunity. STRIVE 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 commercial property to you depends on factors that 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 commercial 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’s past 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 based on a tenant’s projected sales with little or no record of actual performance, or comparable rents for the area. Returns are not guaranteed; the tenants and any guarantors may fail to pay the lease rent or property taxes, or may fail to comply with other 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 tenants history and lease guarantees, Buyer is responsible for conducting his/her own investigation of all matters affecting the intrinsic value of the property and the value of any long-term leases, including the likelihood of locating replacement tenants if any of the current tenants should default or abandon the property, and the lease terms that Buyer may be able to negotiate with any potential replacement tenants 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 STRIVE and hold it harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this commercial property.

Commercial Disclaimer

TYPES OF REAL ESTATE LICENSE HOLDERS:• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the broker’s own interests;• Inform the client of any material information about the property or transaction received by the broker;• Answer the client’s questions and present any offer to or counter-offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner’s agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner’s agent must perform the broker’s minimumduties above and must inform the owner of any material information about the property or transaction known by the agent, includinginformation disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by th e seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker’s obligations as an intermediary. A broker who acts as an intermediary:• Must treat all parties to the transaction impartially and fairly;• May, with the parties’ written consent, appoint a different license holder associated with the broker to each party (owner and• buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.• Must not, unless specifically authorized in writing to do so by the party, disclose:

ӽ that the owner will accept a price less than the written asking price; ӽ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ӽ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required

to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.

Texas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov

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469.844.8880 STRIVERE.COM

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