2304 N Wayne St, Angola, IndianaCONFIDENTIAL OFFERING MEMORANDUM

Cyrus RapinanCA BRE # 01885903

858.733.1136 I cyrus@cyrusemilia.com

10717 Camino Ruiz Ste 246 San Diego, CA 92126

Monte Alexander213.446.5366

RC 51500226

1221 Puerta Del Sol, Suite 600 San Clemente, CA 92673

RUBY TUESDAY2304 N. Wayne Street

Angola, IN 46703

Asking $2,975,000

NOI $191,316 Annually

CAP Rate 6.43%

4,900 SF

56,584 SF Lot Size

Absolute NNN

Fee Simple Ownership

Year Built 2001

Current Lease Until 2021

Two 5-Year Renewal Options

*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.

Investment Overview

2304 N Wayne Street, Angola, Indiana

JDS Real Estate Services, Inc and Cyrus & Emilia Inc is pleased to present this opportunity to acquire this single tenant Ruby Tuesday,corporate guaranteed, absolute NNN lease investment property located in Angola, Indiana. The current lease is until June of 2021 andincludes two 5-year renewal options. The tenant has expressed the desire to renew for a longer term with rental increases.

Ruby Tuesday Inc owns and franchises Ruby Tuesday brand restaurants. As of 2017, there were 596 locations in 41 states and 14 foreigncountries. The company-owned and operated restaurants are concentrated primarily in Southeast, Northeast, Mid-Atlantic and Midwestof the United States, which are considered to be the company’s core markets. Ruby Tuesday was successfully acquired by NRD Capital,an Atlanta-based privately equity firm that specializes in franchised and multi-location business investments. The acquisition closed andbecame effective on December 21, 2017. NRD Capital invests in brands that offer superior products or services and compelling unit-level economics in order to help them strategically grow through franchising. The firm was founded by Aziz Hashim in 2014, one of theworld’s leading experts on franchising. NRD Capital’s unique approach to investing, applying operating expertise and leveraging its widenetwork of franchisees, in addition to infusing capital in its portfolio gives Ruby Tuesday a new strategy and capital to continue itsgrowth.

Investment Highlights

▪Ruby Tuesday operates 41 states, 14 foreign countries and Guam, and generates sales in excess of $827 million (2017).

▪Ruby Tuesday is #58 in Restaurant Business Top 500 Chains in the United States.

▪Seasoned location. Successfully operating for 20 years.

▪Angola is a city in Pleasant Township, Steuben County of Indiana, home to Trine University.

▪Located just off the hard corner directly across Wal-Mart Supercenter and Walgreens.

▪Absolute NNN Lease. Zero landlord responsibilities.

*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.

Financial Analysis

Summary

*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.

TENANT RT Michiana Franchise, LLCCorporate Owned

LOT SIZE 1.299 Acres

PURCHASE PRICE $2,975,000 EXPENSE REIMBURSEMENT

This is an absolute NNN lease. Tenant is responsible for all expenses.

CAP RATE 6.43%

GROSS LEASABLE AREA

4,900 SF FINANCING All cash or obtain new financing by the close of escrow.

YEAR BUILT 2001

TENANT INFO LEASE TERMS RENT SUMMARY

TENANT NAME SQ FT TERM INCREASE RENT ANNUAL INVESTOR RETURN

Ruby Tuesday 4,900 Current-06/30/21 $191,316 6.43%

Renewal Options1st Option: 07/1/21-

6/30/2610% $210,447 7.07%

2nd Option: 07/1/26-9/30/31

10% $231,491 7.8%

Community Profile

Key Facts

▪16,989 5-Mile Population

▪$51,186 Median Household Income

▪39 Years Old Median Age

▪47% of the 9,117 housing units are owner occupied and 24.4% are renter occupied.

▪$218,492 Median Home Value

Population By Ethnicity ▪

93.5% White

▪5.4% With Hispanic Origin

▪1.3% Black

▪1.2% Asian

▪1.9% Other Races

▪Diversity Index 21.5, compared to 64.3 nationwide.

It is estimated that the total population will grow to 17,210+/- by 2023.

Top #10“Micropolitan City”In the United States

Wingate by Wynham

A 99-room hotel will open on May 01, 2019

*All information regarding this property is deemed to be reliable, however, no representation, guarantee, or warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.

Brand Profile

Nearly forty-five years ago, a young man named Sandy Beallhatched an idea that would lead to the creation of one RubyTuesday. Ruby Tuesday was born of his vision of a restaurantwhere the food and drinks were handcrafted, fresh, and full offlavor, made with quality ingredients and prepared and servedby friendly, caring people who are passionate about their work.From that first restaurant near the campus of the University ofTennessee in 1972 to more than 600 restaurants across theUnited States and around the globe, Ruby Tuesday grew tobecome part of a large public foodservice company in 1982, tobe its own independent, publicly traded company in 1996, andalong the way to become one of the most well-known brands incasual dining. As of December 21, 2017, NRD Capital, anAtlanta-based private equity firm, acquired Ruby Tuesday Inc.

Quality means freshness. It’s fresh 100% USDA Choice or Primeground beef formed into perfectly grilled, handcrafted burgersthat redefine an American classic. Quality is seasonal vineripened tomatoes and crisp leaf lettuce still glistening withgarden dew. It’s applewood-smoked bacon and premiumcheeses and an uncompromising commitment to providing youthe best. Ruby Tuesday is committed to their customers’enjoyment. The casual dining restaurant is passionate abouttheir menu, the design of their stores, and their customers.Their staff is genuinely dedicated to serving customers.

History

Mission

Operator Profile

All information regarding this property has been obtained from sources deemed to be reliable, however, no representation, guarantee, or warranty is made to the accuracy thereof and is submitted subject to error, omissions, change of price, or withdrawal without notice.

The Lease Operator is RT Michiana Franchise, LLC, a subsidiary of Ruby Tuesday, Inc, A Georgia Corporation.

Monte Alexander, RC 515002261221 Puerta Del Sol, Suite 600 I San Clemente, CA 92673

213.446.5366

Cyrus Rapinan, Managing Partner, BRE #01885903Emilia Rapinan, Managing Partner, BRE #0203431410717 Camino Ruiz Suite 246 I San Diego, CA 92126

858.733.1136 I cyrus@cyrusemilia.com