Absolute Triple Net (NNN) Lease (no landlord responsibilities)

Average store sales (AUV’s) for Scooter’s Coffee range from $950,000
to some locations with sales north of $1.5MM

The lease features an attractive increase rental structure of 1.5%
increases

Scooter’s Coffee now has 600+ stores operating across 23 states and
has commitments to open stores in a total of 30 states as of June 2023

Great visibility & access off NC-150 Lincolnton Hwy (11,000 VPD)

The City of Cherryville has seen consistent population growth as more
families move out of Charlotte and to the neighboring suburbs

Subject property was built in 2023 using a modular build out well
known for its high quality construction and manufacturing process

Franchisee to open five (5) new locations over the next two years in the
North Carolina and South Carolina markets

Store opened in February 2023 and is on track to hit $1.2MM in sales with-
in the first year of operations. 5.5% projected rent to sales ratio

Well respected franchisee within the Scooter’s system with an operational
background in the fast food industry

Subject property is an outparcel to Walmart, and neighbors a growing in-
dustrial area featuring Keystone Powdered Metal Co, Fleetnet America,
Pepsi Beverage Distribution Center, Custom Hydraulics and Design, R-
Anell Home Manufacturers, N.O.M’s Stone and Marble and Piedmont Lithi-
um (to be constructed in 2024. Expected to be one of the world’s most
sustainable lithium hydroxide operations. )