SALE PRICE: $5,400,000 CAP RATE: 7.62%

C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M

FOR SALE2121 Plaza2121 10th Avenue North, Lake Worth, FL 33461

DISCLAIMER

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Confidentiality & DisclaimerAll materials and information received or derived from NNN Investment Advisors its directors, officers, agents, advisors, affiliates and/or any third party sources areprovided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’sintended use or any and all other matters.

Neither NNN Investment Advisors its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may befurnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. NNNInvestment Advisors will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigationsincluding through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtainingand reading applicable documents and reports and consulting appropriate independent professionals. NNN Investment Advisors makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financial data or assumptions. NNN Investment Advisors does not serve as a financial advisorto any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, maydiffer from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents canbe established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancyfactors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney.Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complieswith applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmentalagencies. All properties and services are marketed by NNN Investment Advisors in compliance with all applicable fair housing and equal opportunity laws.

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OFFERING SUMMARY

Sale Price: $5,400,000

Cap Rate: 7.62%

AS IS NOI: $411,432.56

Lot Size: 2.87 Acres

Year Built: 1982

Building Size: 31,888

Zoning: MIC-2

Market: West Palm Beach

Price / SF: $169.34

NNN Investment Advisors is pleased to offer for sale 2121 Plaza, a 31,388 SF retail center. Strategically located on thesouth side of 10th Ave N., the busiest east/west thoroughfares in the city of Lake Worth and also greater Palm BeachCounty with 41,500 VPD, just west of I-95 with over 185,000 VPD. The subject serves multiple dense residentialcommunities with a mix of single-family homes, condominiums and apartments and is less than 3 miles from JFKMedical Center, a 486 bed hospital with over 2,300 medical professionals and Palm Beach State College with over49,000 students. Across from Wayne Akers Ford and Super Walmart. Owner motivated. Please submit all offers!

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Strategically located on 10th Avenue North (41,500 VPD), a strong retail and commercial artery in PalmBeach County. The property is also located just west of Interstate I-95 (185,000 VPD).

• Easy to manage and comprised of a solid mixture of established local businesses.• Diverse tenant mix represented by retail, food, services and professional offices, providing stability and

internet resistance to the income stream.• Below market rents in 47% of center assures significant value-add potential and strong positive rent growth.• Historically high occupancy levels supported by a young, densely populated middle income residential

demographic profile. Population within a 5 mile radius is 296,817 people.• Extremely low vacancy in West Palm Beach submarket with 6% population growth projected over the next 5

years.

EXECUTIVE SUMMARY

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ADDITIONAL PHOTOS

NOT A PART NOT A PART

NOT A PARTNOT A PART

1.7 miles away

0.3 miles away

0.8 miles away

100 feet away

5

SURROUNDING RETAILERS

6

AERIAL

SUBJECTPROPERTY

D I S TA N C E :

Ft. Lauderdale

39 miles

Miami

64 miles Orlando

174 miles

Tampa

210 miles

7

REGIONAL MAP

41,500VPD

10th Avenue N.

2018 TOTAL POPULATION ESTIMATE 1-Mile Radius 20,033 3-Mile Radius 130,776 5-Mile Radius 296,897

2018 AVERAGE HOUSEHOLD INCOME 1-Mile Radius $49,596 3-Mile Radius $57,981 5-Mile Radius $58,749

1.5 MILES

N

S

EW

185,000VPD

LAKE WORTH MIDDLE SCHOOL

PALM BEACHSTATE COLLEGE

SUBJECTPROPERTY

Cong

ress

Ave

nue

SUNSET RIDGEPARK

8

AREA MAP

185,000VPD

Over 109,889 Households in a Five-Mile Radius

Over 296,897 Peoplein a Five-Mile Radius

Surrounded by Dense Residential Communities

Palm Beach Shooting Center

N

10th Avenue N.

SUBJECTPROPERTY

41,500VPD

1/2 mile

Palm Beach State College

Halsey & Griffith Office Supplies & Furniture

9

RETAILER MAP

Halsey & Griffith Office Supplies &

Furniture۰

UM Tactical۰

Micron Services

Restaurante Pupuseria El Guanaco

۰Estilo Barber Shop

Banyan Printing۰

K&M Electric Supply۰

GL Staffing Services

Diamond Auto Collision

Mobility Works

SUBJECTPROPERTY

N

Cold Air Distributors۰

Complete Sliding Doors and Windows

10

RETAILERS MAP CONT'D

Strategically located on 10th Avenue North, a strong retail and commercial artery in Palm Beach County. The property is also located just west of Interstate I-95 adding convenience of accessibility to the entire county.

LAKE WORTH

S. M

iltar

y Tr

ail

Lake Worth Road

Lantana Road

10th Avenue N.41,500 VPD

Interstate I-95185,000 VPD

Lantana Road40,899 VPD

SUBJECTPROPERTY

Lake Worth Road39,856 VPD

S. Congress Ave.35,099VPD

S. C

ongr

ess

Ave

10th Avenue N.

3 Miles

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MARKET POSITIONING

LAKE COVE COMMUNITY, a 59 single-family home subdivision, is being built on a 12-acre site on 19th Avenue North, just north of Vernon Heights.

GOLDEN ROADS, a 189-unit apartment complex on the north side of 10th Avenue, just west of Boutwell Road.

PULTE HOMES continues to build on its 229 acre purchase near the intersection of Lake Worth Road and Fla. Turnpike for a total of 920 homes.

THE ONE, a 14-unit, 4-story condo on South Palmway and Lake Avenue that is 60 percent sold and due to be completed in August.

BANYAN COURT APARTMENTS, a 3-story complex on North A Street that will include 85 1- and 2-bedroom units.

ADOPT-A-FAMILY, a 14-unit housing development at North A Street and 3rd Avenue North to be completed by 2020.

THE MID, a 230-unit project at 1601 N. Dixie Highway received an economic development incentive from the city in May, with staff still awaiting for submission of this major site plan.

RESIDENTIAL EXPANSION & REDEVELOPMENT OUTLOOK

SUBJECTPROPERTY

N

S

EW

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MARKET POSITIONING CONT'D

TENANT Feet Per. BASE CAM SALES TOTAL LEASE LEASE EXP. RENT INCREASE SECURITY PREPAID2107 Nigercar Enterprises Corp 3,000 19.33 ( 4,833.36) ( 1,387.50) ( 404.15) ( 6,625.01) 10/1/2016 9/30/2021 10/1/2019 (13,812.24) (6,906.12)2111 Idalmis Moronta 800 17.00 ( 1,133.33) (370.00) ( 92.49) ( 1,595.82) 11/1/2015 11/1/2019 11/1/2019 (1,381.53) (1,381.53)2113 Avon By Kaylani 800 16.48 ( 1,098.67) ( 370.00) ( 97.69) ( 1,566.36) 10/1/2017 9/30/2020 10/1/2019 (1,606.74) (1,606.74)2115 Advanced Children's Therapy, Inc. 800 15.91 ( 1,060.90) ( 370.00) ( 95.20) ( 1,526.10) 7/5/2017 11/30/2020 12/1/2019 (1,565.24) (1,565.12)2117-2119 Advanced Children's Therapy, Inc. 1,600 14.21 ( 1,894.06) ( 740.00) ( 175.36) ( 2,809.42) 11/15/2015 11/30/2020 12/1/2019 (2,852.33) (2,852.33)2121 Easy Reach Chiropractic 1,200 15.75 ( 1,574.81) ( 595.00) ( 143.43) ( 2,313.24) 1/1/2016 12/31/2020 1/1/2019 (2,324.37) (2,324.37)2123 Candida Morales 1,200 18.03 ( 1,803.49) ( 555.00) ( 160.38) ( 2,518.87) 4/1/2011 3/31/2019 4/1/2019 (2,475.67) (2,475.67)2125 Amazulu Transport, Inc. 800 18.00 ( 1,199.86) ( 370.00) ( 103.61) ( 1,673.47) 6/1/2016 5/31/2021 6/1/2019 (1,767.83) (1,767.83)2127 Gladys Prada 800 16.54 ( 1,102.50) ( 370.00) ( 96.56) ( 1,569.06) 12/1/2014 11/31/2020 12/1/2019 (3,083.71) (1,452.20)2129 Josias Madistin 1,600 15.64 ( 2,085.33) ( 740.00) EXEMPT ( 2,825.33) 5/15/2018 05/50/2021 5/1/2019 (2,909.75) (2,909.75)2133 Righteous Chapel Church, Inc. 800 17.00 ( 1,133.33) ( 370.00) EXEMPT ( 1,503.33) 8/14/2015 8/31/2019 8/1/2019 (1,406.08) (1,406.08)2135-2137 Iglesia Casa De Oracion 2,400 17.38 ( 3,475.83) INCL EXEMPT ( 3,475.83) 3/15/2014 3/31/2021 4/1/2019 (2,000.00) (3,000.00)2139 Zion's Watchmen, Inc. 1,200 19.55 ( 1,955.20) INCL ( 132.95) ( 2,088.15) 12/15/2015 12/31/2019 1/1/2019 N/A N/A2141 A TO Z Sales Event, LLC 14,888 9.67 ( 12,000.00) INCL ( 816.00) ( 12,816.00) 7/1/2018 8/31/2021 9/1/2018 (13,884.00) N/A

STABILIZED INCOME 31,888 ( 36,350.67) ( 6,237.50) ( 2,317.82) ( 44,905.99) ( 51,069.49) ( 29,647.74)

ACTUAL AS IS NOI: $36,350.67 + 6237.50 = $42,588.17 X 12 = $511,958.04 MINUS EXPENSES OF $100,525.48 = $411,432.56 ACTUAL NOI

2121 PLAZA: 2017 CAM OPERATING EXPENSES:

FIXED EXPENSES YEARLY TOTAL Real Estate Taxes 48,915.69 (2017 Taxes with 4% discount)Insurance 10,736.09 (Property & Liability)TOTAL FIXED EXPENSES 59,651.78

VARIABLE EXPENSESLicenses, Permits, Dues & Subscriptions 360.35Lawn Maintenance 3,300.00Parking Lot Maintenance 2,700.00Parking Lot lighting 3,857.28Lift Station Maintenance Contract 960.00Utilities - Electric 3,294.41Utilities - Lift Station 706.66Trash Removal 3,928.20Management Fee 12,000.00Repairs, Maintenance & Supplies 8,550.00Fire Alarm Monitoring 1,577.15TOTAL VARIABLE EXPENSES 40,873.70GRAND TOTAL 100,525.48

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RENT ROLL

Bamboo Room17-25 S J Street 1,022 04/06/17 $30.00/mg

1828-1832 N Dixie Hwy 1,400 01/26/17 $18.00/mg

2405-2419 10th Ave N 922 03/11/16 $18.00/nnn

2441-2449 10th Ave N 1,620 03/11/16 $18.00/nnn

The Shoppes Of Atlantis5805-5949 S Congress Ave 1,423 10/02/15 $16.00/nnn

PROPERTY NAME - ADDRESS SF LEASED SIGN DATE RENT PRICE

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LEASE COMPARABLES

PROPERTY NAME - ADDRESS SF LEASED SIGN DATE RENT PRICE

3469-3501 S CONGRESS AVE 1,080 06/22/18 $21.00/nnn

2911 S CONGRESS AVE 800 05/01/18 $18.00/nnn

2211 N DIXIE HWY 1,250 03/02/18 $20.16/mg

3701-3729 LAKE WORTH RD 1,054 01/12/18 $16.00/nnn

PALM SPRINGS PLAZA3321-3401 S Congress Ave 1,385 04/26/17 $19.00/nnn

127 N Dixie Hwy - Building 2 1,416 04/21/17 $28.00

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LEASE COMPARABLES

North Village Square3111 45th StreetWest Palm Beach

7.0 24,289 $203.80 03/5/18 $4,950,000

Meadows Square Bldg 24701 N Congress AvenueBoynton Beach

17,944 $290.67 08/24/16 $5,215,735

Catalina Center North1899 N Congress Ave (Part of Multi-Property Sale), Boynton Beach

6.25 13,025 $264.54 06/2/17 $3,445,656

Building E2000 PGA Blvd (Part of Multi-Property Sale), Palm Beach Gardens

21,586 $627.65 05/29/17 $13,548,395

Tarrybrooke Square2835 N Military TrailWest Palm Beach

17,943 $166.64 10/14/16 $2,990,000

Lincoln Park Delray5869 W. Atlantic Ave (Part of Multi-Property Sale), Delray Beach

6.50 20,025 $321.05 09/23/16 $6,429,013

PROPERTY NAME - ADDRESS CAP RATE BUILDING SF SF PRICE SOLD DATE SOLD PRICE

SOLD!

SOLD!

SOLD!

SOLD!

SOLD!

SOLD!

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SOLD COMPARABLES

3757 S. Military TrailLake Worth 7.48 11,500 $234.78 $2,700,000

3701-3729 Lake Worth RDLake Worth 7.2 15,050 $202.66 $3,050,000

Haverhill Plaza4996 10th Ave NGreenacres

7.1 10,400 $211.54 $2,200,000

Hypoluxo Center7100-7138 S Military Trl (2 Properties), Lake Worth

7.0 $290.34 $8,000,000

220-222 N Congress AveDelray Beach 6.0 10,000 $350.00 $3,500,000

Auto Spectrum Center901-921 Hypoluxo RoadLantana

5.5 12,523 $223.59 $2,800,000

PROPERTY NAME - ADDRESS CAP RATE BUILDING SF SF PRICE LISTING PRICE

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FOR SALE COMPARABLES

WITH OVER 6.7 MILLION RESIDENTS, SOUTH FLORIDA IS HOME TO 30% OF THE STATE’S POPULATION AND IS THE MOST POPULATED AND WEALTHIEST MSA IN FLORIDA

WEST PALM BEACH - FORT LAUDERDALE - MIAMI MSAThe Miami – Fort Lauderdale – Palm Beach Metropolitan Statistical Area (the South Florida MSA or South Florida) consists of Broward, Miami-Dade and Palm Beach Counties and is situated along the southeastern coast of Florida. With over 6.7 million residents, South Florida is the most populous MSA in Florida, accounting for more than 30% of the state’s residents, and the 8th most populous MSA nationally. Although many South Florida communities are built-out, the area is still projected to grow by 5.8% (more than 350,000 people) through the year 2022.

South Florida’s location at the southeastern tip of the United States is enhanced by three major international passenger and cargo airports, two modern deep-water sea ports, extensive rail service and a large trucking network. South Florida’s three major airports - Miami International Airport, Fort Lauderdale - Hollywood

International Airport and Palm Beach International Airport - combine to make the fourth largest domestic origin and destination market in the United States, after New York City, Los Angeles and Chicago. South Florida is served by five interstate highways and eight expressways.

The South Florida MSA is Florida’s largest employment center and benefited from 359,000 private sector jobs added from 2013-2017 (#5 most in the US). As an international gateway, South Florida benefits from both significant international inmigration and ranks #3 in the US for net migration from 2012-2017. Overall, South Florida significantly outpaced US average growth in key metrics such as population (#5 in US), net migration (#3 in US) and employment (#5 in US), all of which highlight the South Florida MSA’s dynamic economy.

WEST PALM BEACH - FT. LAUDERDALE - MIAMI MSA 2017 Estimated Population 6,027,5852022 Projected Population 6,378,506Growth 2017-2022 .8%2017 Estimated Median Age 41.02017 Estimated Households 2,252,8182022 Projected Households 2,375,8122017 Est. Median Household Income $51,7802022 Prj. Median Household Income $57,8992017 Est. Average Household Income $77,4612017 Est. Median Housing Value $242,8062017 Est. Average Housing Value $312,324

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AREA OVERVIEW

TOP PALM BEACH COUNTY EMPLOYERS

Company # EmployeesPublix 12,000Tenet Healthcare 6,100Comcast 4,000NextEra Energy 3,635Signature Healthcare 3,626Florida Power & Light 3,178Wackenhut Corp. 3,000Winn-Dixie Stores 3,000G4S 3,000

PALM BEACH COUNTY Palm Beach County is located approximately 39 miles from Fort Lauderdale, 64 miles from Miami, 174 miles from Orlando, and 210 miles from Tampa. The estimated 2017 population of Palm Beach County is 1.4 million and is projected to grow by 6% over the next five years. The largest city in the county is West Palm Beach with an estimated population of 108,940. Palm Beach County’s established high-income communities (Palm Beach, Boca Raton, Wellington) are among the wealthiest and most exclusive neighborhoods in the nation. Like Palm Beach County as a whole, these areas evolved from winter vacation destinations for wealthy northeasterners into sizeable year-round communities populated by the area’s wealthiest residents.

Palm Beach County offers a convenient transportation system, with three major highways – I-95, US 1, and the Florida Turnpike. The county is served by Palm Beach International Airport, which carried 6.3 million passengers in 2017. In addition, Tri-Rail commuter rail system provides access to Fort Lauderdale and Miami. The three major multibillion-dollar industries in Palm Beach County are

tourism, construction, and agriculture. Approximately 7.9 million people visited Palm Beach County in 2017. There are also many high-tech industries such as bioscience that contribute to the growing economy. The top employers (over 3,000 employees) included Publix Supermarkets, Tenet Healthcare, Comcast, NextEra Energy, Signature Healthcare, Florida Power & Light, Wackenhut Corp., Winn- Dixie Stores and G4S.

Palm Beach County remains among the top metros in the National Index for forecast population growth through 2018, and the big-spender cohort (those 35–54 years old) is also expected to grow rapidly over the next few years. That, combined with median household growth above the national median, should translate into increased retail spending that will continue to support long-term demand.

Net absorption of retail space has outpaced supply for most of the cycle and reached a peak in 2016. Vacancy has decreased steadily over the cycle, and Boca Raton and the West Palm Beach CBD maintain the lowest vacancies in the metro.

WEST PALM BEACH REMAINS THE LARGEST CITY IN THE COUNTY WITH AN ESTIMATED POPULATION OF 108,940

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AREA OVERVIEW CONT'D

U.S.ASouth Florida

0.7%

1.5%

1.5%

2.1%

1.4%

1.69

%

6.3%

8.3%

SOUTH FLORIDA’S GROWTH BY NUMBERS YEAR-OVER-YEAR CHANGE

IN KEY METRICS (2017-2018)

SOUTH FLORIDA RANKS “4TH” AS THE USA METRO AREA FOR Y.O.Y. EMPLOYMENT GROWTH

2018

6.7million

#8 in the USA

Population Growth Private Sector Job GrowthNet Migration

BETWEEN 2013-2017

+396.5thousand

#5 in the USA

BETWEEN 2013-2017

+359.3thousand

#5 in the USA

BETWEEN 2012-2017

+422thousand

#3 in the USA

BETWEEN 2018-2022

+556.1thousand

#4 in the USA

BETWEEN 2018-2022

+195.4thousand

#5 in the USA

Population

POPULATION EMPLOYMENT INCOME MEDIANHOME PRICE

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S. FLORIDA DEMOGRAPHICS

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POPULATION 1 MILE 3 MILES 5 MILES

Total population 20,033 130,776 296,897

Median age 36.3 37.1 37.1

Median age (Male) 33.9 35.8 35.6

Median age (Female) 39.6 38.6 38.5

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 7,371 48,223 109,889

# of persons per HH 2.9 2.8 2.8

Average HH income $49,596 $57,981 $58,749

Average house value $121,787 $260,499 $262,388

* Demographic data derived from 2010 US Census

DEMOGRAPHICS MAP

FOR MORE INFORMATION, PLEASE CONTACT:

S A L E P R I C E : $ 5 , 4 0 0 , 0 0 0 | C A P R AT E : 7 . 6 2 %

RICHARD GRONDIN LORRIE GARBARZPrincipal Broker / Principal561.543.9770 248.943.3331rgrondin@nnninvestmentadvisors.com lgarbarz@nnninvestmentadvisors.com

C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M