Offering Memorandum

Mission Valley Shoppette2957 W. 72nd Ave. | Westminster, Colorado

Chris Wiedenmayercwiedenmayer@legendLLP.com720.529.2889

Peter Pelusoppeluso@legendLLP.com 720.529.2984

CONTENTS

Investment Summary 03

Pricing 06

Property Summary 07

Cash Flow 09

Rent Roll 11

Demographics 14

Location Overview 15

Legend Investment Group is pleased to present investors with the opportunity to acquire Mission Valley Shoppette. This approximately 5,050 SF neighborhood retail strip-center is located along West 72nd Avenue and Federal Blvd in the rapidly growing city of Westminster, Colorado.

Mission Valley is fully occupied by a diverse mix of local retailers, restaurants and services, many of whom have a long operating history at the property.

The property is easily accessed along West 72nd Avenue, and is located near many large retailers including Walmart, Safeway and Walgreens.

Westminster and the surrounding neighborhoods provide a stable and well established resident population, with a demographic profile of over 136,000 residents with an average household income above $62,000 within a 3-mile radius of the property.

MISSION VALLEY SHOPPETTETHE OFFERING

Investment Summary | 3

LAKEWOOD

WHEATRIDGE

AURORA

COMMERCECITYTHORNTON

NORTHGLENN

ARVADA

WESTMINSTER

LOUISVILLE

DENVER

2975 W. 72ND AVE.

STRONG RETAIL TRADE AREA

Located just off Federal Blvd along W 72nd Ave, Mission Valley is positioned adjacent to a Walmart Neighborhood Center, and the nearby Safeway Grocery Center, greatly increasing traffic draws to the immediate area.

EXCELLENT VISIBILITY AND DAILY TRAFFIC

Mission Valley Shoppette is ideally positioned along West 72nd Avenue and Federal Blvd which sees a combined 56,000 VPD.

HIGHLIGHTSSTABILIZED RETAIL SHOPS

Mission Valley is 100% occupied by local tenants, many of whom have long occupancy history at the location. Additionally, all leases are NNN allowing for a passive management opportunity.

NEW WESTMINSTER LIGHT RAIL STATION

Mission Valley is located less than a half-mile (8 minute walking distance) from the new Westminster Station which connects Westminster to Boulder and Downtown Denver.

Investment Summary | 5

INVESTMENT SUMMARY

IN-PLACE NOI $89,897

$/SF $254.26

OCCUPANCY 100%

PRICE $1,284,000

CAP 7.00%

Investment Summary | 6

ADDRESS 2957 West 72nd Avenue

Westminster, CO 80030

TOTAL AREA 5,050 SF OCCUPANCY 100%

LOT SIZE 0.34 AC PARKING 15 Spaces; 3.0/ 1,000 SF

YEAR BUILT 1962 PARCEL # 017-193-241-7005

PROPERTY SUMMARY Suite # Tenant Size Expiration Date

2957 Little Star Beauty Salon 625 SF 10/31/2019

2959 Mr. Pollo Grill 1,250 SF 12/31/2019

2963 Hernandez Boot & Shoe Repair 625 SF 9/30/2021

2965 Joyeria Azteca 1,300 SF 1/31/2021

2967 ALG Nail & Beauty Salon 550 SF 8/30/2020

2969 Boost Mobile 700 SF 6/30/2020

Property Description | 7

Fe

de

ral

Blv

d

W. 72nd Ave

36

,00

0 v

pd

20,000 vpd

CASH FLOWYear 1 Year 2 Year 3 Year 4 Year 5

For the Years Ending Sep-2018 Sep-2019 Sep-2020 Sep-2021 Sep-2022

Rental Revenue

Potential Base Rent 96,618 99,634 101,506 104,393 106,408

Absorption & Turnover Vacancy - - (9,827) (5,593) (2,286)

Total Rental Revenue 96,618 99,634 91,679 98,800 104,122

Other Tenant Revenue

Total Expense Recoveries [1]

37,792 38,194 36,498 38,875 43,411

Total Other Tenant Revenue 37,792 38,194 36,498 38,875 43,411

Potential Gross Revenue 134,410 137,827 128,177 137,675 147,532

Vacancy & Credit Loss

Vacancy Allowance (6,721) (6,891) (2,964) (5,453) (6,281)

Total Vacancy & Credit Loss (6,721) (6,891) (2,964) (5,453) (6,281)

Effective Gross Revenue 127,690 130,936 125,213 132,223 141,252

Operating Expenses

Accounting & Legal (275) (283) (292) (300) (310)

Utility - Water & Sewer (2,300) (2,369) (2,440) (2,513) (2,589)

Insurance (1,700) (1,751) (1,804) (1,858) (1,913)

Maintenance (1,800) (1,854) (1,910) (1,967) (2,026)

Misc. (150) (155) (159) (164) (169)

Snow Removal (350) (361) (371) (382) (394)

Trash (1,100) (1,133) (1,167) (1,202) (1,238)

Taxes (23,397) (23,397) (25,737) (25,737) (28,310)

Management Fee (6,720) (6,891) (6,409) (6,884) (7,377)

Total Operating Expenses (37,792) (38,194) (40,288) (41,007) (44,325)

Net Operating Income 89,897 92,742 84,925 91,216 96,927

Leasing Costs

Leasing Commissions - - (3,992) (2,955) (1,028)

Total Leasing Costs - - (3,992) (2,955) (1,028)

Cash Flow Before Debt Service 89,897 92,742 80,933 88,261 95,899

[1] Reimbursements shown in the above cash flow represents full reimbursement of real estate taxes, which ownership has historically collected. Ownership has elected to spread the increase of the recently assessed tax bill over a two year period and plans to bill only half of the total tax expense in year 1.

GENERAL ASSUMPTIONS:

Analysis Start: October 1, 2017

General Inflation and Expense Growth: 3.00%

General Vacancy Factor: 5.00%

MARKET LEASING ASSUMPTIONS: $19.50 NNN

Lease Type: NNN

Renewal Probability: 75%

New Lease Rate: $19.50

New Lease Rent Increases: 3.00%

Renewal Rate: $19.50

Renewal Rent Increases: 3.00%

Term: 5 Years

Downtime: 6 Months

NEW LEASE:

Tenant Improvements: $0.00

Leasing Commissions: 6.00%

Abatement: None.

RENEWAL:

Tenant Improvements: $0.00

Leasing Commissions: 0.00%

Abatement: None

NOTES:

1. Operating Expenses were based on the 2016 Income Statement. Additionally, various ex-pense items were assumed to be either non-recurring or owner specific expenses and were excluded from the analysis.

2. A market rate management fee equal to 5% PGR was applied and assumed reimbursable by all Tenants.

3. Real Estate Taxes are modeled off of the 2017 Real Estate Taxes Payable 2018 reassessed value released by the Adams County Tax Assessor.

4. For the purpose of this analysis full collection of 2018 taxes is modeled in the above cash flow. Ownership has elected to spread the increase of the recently assessed tax bill over a two year period and plans to bill only half of the total tax expense in year 1.

5. Second Generation Tenants are modeled to reimburse all operating expenses on a triple net basis.

6. General vacancy factor is equal to 5% of PGR, reduced by absorption and turnover.

Assumptions | 10

Suite # Tenant Size% of Total

(SF)

Current $/SF/YR

[1]

Current Monthly Rent [1]

Current Annual Rent [1]

Base Rent Increases

Lease StartLease

ExpirationLease Struc-

tureIncreases On

$/SF/YRMonthly

RentAnnual

Rent

2957 Little Star Beauty Salon 625 SF 12.38% $20.52 $1,069 $12,828 11/1/2017 $21.00 $1,094 $13,128 11/1/2009 10/31/2019 NNN

11/1/2018 $21.48 $1,119 $13,428

2959 Mr. Pollo Grill 1,250 SF 24.75% $19.20 $2,000 $24,000 1/1/2018 $19.68 $2,050 $24,600 1/1/2013 12/31/2019 NNN

1/1/2019 $20.16 $2,100 $25,200

2963 Hernandez Boot & Shoe Repair 625 SF 12.38% $19.20 $1,000 $12,000 11/1/2017 $19.78 $1,030 $12,360 10/1/2014 9/30/2021 NNN

11/1/2018 $20.37 $1,061 $12,732

11/1/2019 $20.99 $1,093 $13,116

11/1/2020 $21.62 $1,126 $13,512

2965 Joyeria Azteca (Jewelry Store) 1,300 SF 25.74% $15.68 $1,699 $20,388 2/1/2018 $16.15 $1,750 $21,000 12/1/2013 1/31/2021 NNN

2/1/2019 $16.63 $1,802 $21,624

2/1/2020 $17.13 $1,856 $22,272

2967 ALG Nail & Beauty Salon 550 SF 10.89% $21.82 $1,000 $12,000 12/1/2018 $22.47 $1,030 $12,360 9/1/2017 8/31/2020 NNN

12/1/2019 $23.15 $1,061 $12,732

2969 Boost Mobile (Xtreme Wireless) 700 SF 13.86% $19.56 $1,141 $13,690 7/1/2018 $20.63 $1,204 $14,443 7/1/2015 6/30/2020 NNN

7/1/2019 $21.77 $1,270 $15,238

Rent Roll | 11

UNIT TENANT EXPIRATIONRATE AT

EXPIRATIONLEASE TYPE

SIZE (SF)% OF

TOTAL

YEAR 1

None.

Year End: September, 2018 Tenants Expiring: 0 0 SF 0.00%

YEAR 2

None.

Year End: September, 2019 Tenants Expiring: 0 0 SF 0.00%

YEAR 3

2957 Little Star Beauty Salon 10/31/2019 $21.48 NNN 625 SF 12.38%

2959 Mr. Pollo Grill 12/31/2019 $20.16 NNN 1,250 SF 24.75%

2969 Boost Mobile 6/30/2020 $21.77 NNN 700 SF 13.86%

2967 ALG Nail & Beauty Salon 8/30/2020 $23.15 NNN 550 SF 10.89%

Year End: September, 2020 Tenants Expiring: 4 3,675 SF 61.88%

ROLLOVER SCHEDULEUNIT TENANT EXPIRATION

RATE AT EXPIRATION

LEASE TYPE

SIZE (SF)% OF

TOTAL

YEAR 4

2965 Joyeria Azteca 1/31/2021 $17.13 NNN 1,300 SF 25.74%

2963 Boot & Shoe Repair 9/30/2021 $21.62 NNN 550 SF 10.89%

Year End: September, 2021 Tenants Expiring: 2 1,850 SF 36.63%

YEAR 5

None.

Year End: September, 2022 Tenants Expiring: 0 0 SF 0.00%

Rollover Schedule | 12

2975 W. 72ND AVE.

WESTMINSTERLIGHT RAIL STATION

LIGHT RAIL

72nd Ave

74th Ave74th Ave

76th Ave

72nd Ave

70th Ave

20,000 vpd

138,000 vpd

Low

ell B

lvd

Low

ell B

lvd

Fed

era

l Blv

dF

eder

al B

lvd

36

,00

0 v

pd

36

LAKEWOOD

WHEATRIDGE

AURORA

COMMERCECITY

THORNTON

NORTHGLENN

ARVADA

WESTMINSTER

GOLDEN

DENVER

2975 W. 72ND AVE.

POPULATION 20,581 136,096 354,964

AVG. HOUSEHOLD INCOME $55,224 $62,604 $73,524

HOUSEHOLDS 6,780 46,756 133,986

BUSINESSES 641 4,664 14,254

DAYTIME POPULATION 4,660 43,777 139,142

1 MILE 3 MILE 5 MILEDEMOGRAPHICS

As a market, Colorado is continuing to show signs of stability and

positive growth for the future. Colorado was the second-fastest

growing state in terms of population between 2014 and 2015. In

addition to higher-than-average economic performance, the state’s

unique assets include: a good quality of life, low business costs,

and an educated workforce. Colorado’s growing population will

continue to help keep the residential real estate market healthy

and bring more commercial activity state-wide. Currently 682,545

people call Denver home (the 21st most populous city in the U.S.)

with 2.7 million people within the Denver Metro area.

COLORADO

Over the past decade Colorado has continued to excel as one

of the nations top performing economies. According to figures

released by the U.S. Bureau of Economic Analysis, Colorado’s

per-capita disposable income is $52,059, ranking 15th among

the states and 5% higher than the national average. And at

only 2.3%, Colorado has the lowest unemployment

rate in the nation.

In addition to strong consumer spending, economic and

business growth has continued to exceed national averages,

with Colorado ranking 4th in GPD growth and 3rd in

employment growth. Colorado has continued to have higher

levels of new business activity compared to the national

average, and many statistics show Colorado among the top

states for entrepreneurship.

COLORADO ECONOMY

COLORADO FORTUNE 1000 COMPANIES

COLORADO FORTUNE 500 COMPANIES

Best place for business and careers - Forbes, 2017

No. 1 economy in the U.S. - U.S. News and World Report, 2017

Best metro area for economic & job growth - Area Development

#1

Location Overview | 16

MISSION VALLEY SHOPPES Affiliated Business Disclosure and Confidentiality Agreement

This Offering Memorandum has been prepared by Legend Investment Group (LIG) for use by a limited number of parties and has been obtained from

sources believed reliable. While we do not doubt its accuracy, we have not verified it, and make no guarantee, warranty or representation about it. It is your

responsibility to confirm, independently, its accuracy and completeness. All projections have been developed by LIG, Owner and designated sources, are

based upon assumptions relating to the general economy, competition, and other factors beyond the control of Owner, and therefore are subject to variation.

No representation is made by LIG or Owner as to the accuracy or completeness of the information contained herein, and nothing contained herein is or

shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be

correct, Owner and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in

verifying all such information. Further, LIG, Owner and their employees disclaim any and all liability for representations and warranties, expressed and implied,

contained in, or for omissions from, the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The

Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or Owner since the date

of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility

of the prospective purchaser.

Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective

investors. Owner and LIG each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the property

and/or terminate discussions with any entity at any time with or without notice. Owner shall have no legal commitment or obligations to any entity reviewing

this Offering Memorandum or making an offer to purchase the property unless and until such offer is approved by Owner, a written agreement for the

purchase of the property has been fully executed, delivered and approved by Owner and its legal counsel, and any obligations set by Owner thereunder have

been satisfied or waived.

This Offering Memorandum and the contents, except such information, which is a matter of public record or is provided in sources available to the public,

are of a confidential nature. By accepting this Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not

photocopy or duplicate it, that you will not disclose this Offering Memorandum or any of the contents to any other entity (except to outside advisors retained

by you, if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without

the prior written authorization of Owner or LIG and that you will use the information in this Offering Memorandum for the sole purpose of evaluating your

interest in the property and you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of Owner

or LIG. If you have no interest in the property, please return the Offering Memorandum forthwith.

Legend Investment Group5150 E. Yale Circle, Suite 400 • Denver, CO 80222

720.529.2999 • www.legendLLP.com

Chris Wiedenmayercwiedenmayer@legendLLP.com

720.529.2889

Peter Pelusoppeluso@legendLLP.com

720.529.2984