Walgreens

309 U.S. 287 (Baseline Road & Highway 287) – Boulder (Lafayette), CO

Walgreens Co. (NYSE:WAG) approached landlord to extend lease for an additional 10 years for a 14% rent reduction

7.22 years currently remaining on NN lease which expires 2/28/2021 ($25,000 roof escrow transferred to buyer at closing)

Excellent Boulder Colorado location

Area tenants: Walmart Supercenter, McDonald’s, Chili’s, Conoco Gas, Domino’s, Discount Tire, & King Scoopers Supermarket

8 miles from the University of Colorado Boulder with 28,894 students

$157,818 of amortization in 2014 and $23,059 of existing cash flow based on existing debt

$2,950,000 to pay off existing debt - includes interest prepay

Phone: 212.972.7457Fax: 212.686.0078rob@exp1031.comwww.exp1031.com

This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Price: $4,700,000In Place NOI: $331,817 | Cap: 7.06% | 7.22 Year LeaseIf Buyer Accepts Walgreen's 10 Year Lease Extension Proposal: NOI: $285,363 | Cap: 6.07% | 17.22 Year Lease

Whisper Valley Ranch

Investment Overview

This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Whisper Valley Ranch

Property Line Map

PROPERTY OVERVIEW:EXP Realty Advisors exclusively presents for sale a Walgreens located in Boulder (Lafayette), Colorado. Thebuilding is 15,120 sf, on 1.72 acres of land. The property sits at the corner of Baseline Road and Highway287. Tenants in the immediate area include a Walmart Supercenter, McDonald’s, Chili’s, Conoco Gas,Domino’s, Discount Tire, and a King Scoopers Supermarket. The Lafayette Recreation Department andLafayette Public Library are located within a mile down Baseline Road. The University of Colorado Boulder islocated 8 miles West of the property. The property has not experienced any flooding. The property is 15miles from Denver, CO.

The University of Colorado Boulder is the flagship University of the State of Colorado, and is one of 34 U.S.public institutions belonging to the prestigious Association of American Universities (AAU). The University ofColorado Boulder has an enrollment of 29,894 students.

Lafayette, CO is located in Boulder County, which is part of the Denver-Aurora MSA with a population of3,214,218. Boulder County is the sixth most populous of the 64 counties of the state of Colorado. Lafayetteis a strong supporter of economic development. The city is located just northwest of Denver in thesoutheast corner of Boulder County. The community offers the convenience of easy access to a majormetropolitan area. Lafayette’s location, accessibility, and high quality of life combine to make the city adesirable location for residential, commercial, and light industrial development.

Boulder is the 11th most populous city in the U.S. state of Colorado. The Boulder MSA had a grossmetropolitan product of $18.3 billion in 2010, making it the 110th largest metropolitan economy in theUnited States. Businessweek Magazine calls Boulder the best place to start a business in Colorado.

TENANT OVERVIEW: Walgreen Co. (NYSE: WAG | S&P: Investment Grade): BBBWalgreen Co., together with its subsidiaries, operates a network of drugstores in the United States. Thecompany sells prescription and non-prescription drugs; and general merchandise, including householdproducts, convenience and fresh foods and personal care. As of May 7, 2013, it operated 8,086 drugstoresin 50 states, the District of Columbia, and Puerto Rico. The company also operates approximately 700worksite health and wellness centers, and in-store convenient care clinics in the United States. Walgreen Co.was founded in 1901 and is based in Deerfield, Illinois.

INVESTMENT SUMMARY

NN Rent: $331,817 (with 7.2 year lease)$285,363(with 17.2 year lease)

Debt Service: $308,758(includes $25,000 roof escrow)

Cash Flow: $23,059 (existing)

Loan $157,801Amortization2014:

Loan Balance $2,227,707as of 12/15/13:

Loan Payoff: $2,950,000(includes prepaid interest)

Bld. Sq Ft: 15,120 sf

Land Size: 1.72 acres

Defeasance: None

Lease Type: Double Net(sale comes with approximately $25,000 roof escrow)(landlord has roof structure and parking lot)

INVESTMENT OVERVIEW

Walgreens

Baseline Road & Highway 287 – Boulder, CO

Whisper Valley Ranch

Investment Overview

This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Whisper Valley Ranch

Property Line Map

LOAN INFORMATION

Current lease expires on 2/28/2021. Loan is due on 1/15/2021 with a $857,329.80 balance or can be paid at any time with prepaid interest.

Walgreens

Baseline Road & Highway 287 – Boulder, CO

Lease term Rent Cap Price Debt

balance as of 12-15-13

Required Equity for

loan assumption

Cash Flow

Cash on

Cash

Loan Amort in 2014

Amortized Cash on

Cash

Debt payoff with interest

pre pay

Cost to buyer with buyer pre-paying loan at closing

Free and clear

cap rate

7.22 year lease (existing) 331,817 7.06% 4,700,000 2,227,707 2,472,293 23,059 0.93% 157,801 7.32% 2,950,000 5,422,293 6.12%

17.22 year lease (as proposed by Walgreens at rent less 14%) 285,363 6.07% 4,700,000 2,227,707 2,472,293 23,059 0.93% 157,801 7.32% 2,950,000 5,422,293 5.26%

Cash Flow Equity Amortized Cash on Cash Loan Amortization

2014 23,059 2,472,293 6.80% 145,083

2015 23,059 2,472,293 7.23% 155,571

2016 23,059 2,472,293 7.68% 166,817

2017 23,059 2,472,293 8.17% 178,876

2018 23,059 2,472,293 8.69% 191,807

2019 23,059 2,472,293 9.25% 205,673

2020 23,059 2,472,293 9.85% 220,541

AERIAL PHOTOGRAPHThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Lafayette

Public Library

Black Diamond

Plaza

Walgreens

Baseline Road & Highway 287 – Boulder, CO

AERIAL PHOTOGRAPHThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Lafayette

Recreation

Department

Lafayette

Elementary

School

Walgreens

Baseline Road & Highway 287 – Boulder, CO

LOCATION MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Walgreens

Baseline Road & Highway 287 – Boulder, CO

LOCATION MAPThis information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Walgreens

Baseline Road & Highway 287 – Boulder, CO

This information has been obtained from sources deemed reliable, however EXP Realty Advisors, Inc. does not guarantee, warranty or represent its accuracy. It is the Purchaser’s responsibility to independently confirm the accuracy and completeness of the information contained herein.

Whisper Valley Ranch

Property Line Map

Contact Us

EXP Realty Advisors118 East 28th Street

Suite #901New York, NY 10016www.exp1031.com

Our Team

Robert P. JamesPresident

Email: rob@exp1031.com

Daniel de Sa‘Director of Sales

Phone: (212) 972-3947E-mail: dan@exp1031.com

DEMOGRAPHIC DATA

Radius 1 Mile 3 Mile 5 Mile

Population:

2017 Projection 10,917 45,170 101,207

2012 Estimate 10,162 41,591 92,284

2010 Census 9,908 40,007 88,499

Growth 2012-2017 7.40% 8.60% 9.70%

Growth 2010-2012 2.60% 4.00% 4.30%

2012 Population By Hispanic Origin 1,599 6,267 10,176

2012 Population by Race:

White 8,852 36,139 80,911

Black or African American 150 466 1,033

American Indian and Alaska Native 80 336 537

Asian 343 1,546 4,214

Native Hawaiian and Pacific Islander 6 20 44

Other Race 396 1,809 2,768

Two or More Races 335 1,275 2,775

Households:

2017 Projection 4,398 17,990 38,961

2012 Estimate 4,056 16,406 35,207

2010 Census 3,966 15,849 33,969

Growth 2012-2017 8.40% 9.70% 10.70%

Growth 2010-2012 2.30% 3.50% 3.60%

Owner Occupied 2,713 11,682 26,696

Renter Occupied 1,342 4,724 8,511

2012 Avg Household Income $84,303 $89,546 $101,047

2012 Med Household Income $62,206 $66,689 $81,037

2012 Per Capita Income $34,398 $35,431 $38,648

2012 Households by Household Inc:

Income Less than $15,000 413 1,302 2,171

Income $15,000 - $24,999 317 1,175 1,962

Income $25,000 - $34,999 311 1,470 2,327

Income $35,000 - $49,999 488 1,875 3,190

Income $50,000 - $74,999 848 3,190 6,503

Income $75,000 - $99,999 470 2,030 4,855

Income $100,000 - $149,999 647 2,734 7,260

Income $150,000 - $199,999 297 1,406 3,785

Income $200,000+ 266 1,223 3,153

Walgreens

Baseline Road & Highway 287 – Boulder, CO