INVESTMENT OFFERING MEMORANDUM 5325 S FORT APACHE RD, LAS VEGAS, NV SPANISH HILLS PLAZA

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1 N Buffalo Dr, Ste 120 Las Vegas, NV INVESTMENT OFFERING MEMORANDUM 5325 S FORT APACHE RD, LAS VEGAS, NV SPANISH HILLS PLAZA Exclusive AdvisorS ROB HATRAK o: x410 c: f: rhatrak@virtusco.com CHRIS EMANUEL o: x401 c: f: chris@virtusco.com Buyer s Due Diligence to be performed & completed prior to trustee filing a motion to approve sale.

2 INVESTMENT OFFERING OVERVIEW & PRICING Spanish Hills Virtus Commercial is pleased to present this retail shopping center investment opportunity. Spanish Hills is located on the Southwest corner of West Hacienda Avenue and South Fort Apache Road, in the Southwest corridor of Las Vegas. The property is on a single 1.16 acre land parcel. The center benefits from robust commercial development and high density single family and multi-family residential housing. PURCHASE PRICE: $4,710, CAP RATE: 7.25% NOI: $341, PRICE / SF: $ Impressive traffic counts are generated by the center being positioned cater-corner to major retailers including Wal Mart, Lowe s, Ross, Petsmart, Sport Authority, GNC, Mattress Disocunters,.99 Cent Only Store and quick dining concepts such as IHOP, Burger King, Del Taco, El Pollo Loco, Starbucks, Baja Fresh, Applebee s, and Panera Bread. Nearby easy freeway access is provided by the 215 beltway ensuring quick travel times to all surrounding communities as well as the downtown/airport/strip areas. Spanish Hills Sale Highlights Brand new 10-year lease renewal for the long-term (since 2002) Village Pub tavern tenant. Long term stable tenancy has been a strong suit of the property. The property has been professionally managed for over four years and has no known deferred maintenance. Spanish Hills last sold in 2006 for $5,700,000. Historical NOI Data: 2013: $379, : $343, : $307, : $268,212 New financing opportunity Bankruptcy Required Sale - Property is Subject to U.S. Bankruptcy Court approval & overbid. Sold AS IS, WHERE IS, and without warranties or representations. Buyer s Due Diligence to be performed & completed prior to trustee filing a motion to approve sale.

3 SPANISH HILLS: INVESTMENT OVERVIEW Pricing Summary Price: $4,710, Price/PSF: $ NOI: $341, CAP RATE: 7.24% Income & Expenses (2014) Income Annual Totals Base Rent $348, Sign Rent $0.00 CAM/Tax/Ins. Reimbursement (Est. 90%) $71, Total Income $419, Financing Analysis Interest Rate: 5.00% Possible New Loan Terms: Amortization: 30 Years Loan to Value: 70% Term: 10 Years Price: $4,710, Down Payment (30%): $1,413, Loan Amount: $3,297, Loan Payment: $15, Net Operating Income: $341, Net Cash Flow: $116, Cash on Cash Return: 8.25% Year 1 Principal Paydown: $44, Total Return Year 1: 11.40% DSCR: 1.52 Operating Expenses Maintenance General R&M $ HVAC Supplies & Repair $ Landscaping $2, Landscaping Supplies $ Lighting Supplies & Repair $ Pest Control $ Portering $1, Pressure Washing $ Roof $ Fire/Sprinkler - Monitoring $ Fire/Sprinkler - Inspection $1, Total $9, Utilities Electricity $2, Sewer $7, Trash $2, Water $11, Total $24, Dues & Fees Management/Administration $19, Total $19, Taxes & Insurance Insurance $3, Property Taxes $21, Total $24, Total Operating Expenses $78, Net Operating Income (NOI) $341,277.13

4 SPANISH HILLS: RENT ROLL Lease Summary SQ FT # UNITS OCCUPANCY CURRENT LEASE CHARGES SEC DEP Occupied Units 13, % RENT CAM SIGN TOTAL $ 34, Vacant Units % Monthly $ 29, $ 5, $ - $ 34, Totals 13, % Annual $ 348, $ 71, $ - $ 419, % OF CURRENT RENT RENT CAM,TAX, SIGN CURRENT RENT INCREASE START END LEASE SECURITY BASE LEASE UNIT TENANT SQ FT TOTAL RENT PSF/MO PSF/YR & INS/MO RENT/MO BILLINGS TERM DATE NEW AMT DATE DATE OPTIONS DEPOSIT VALUE (w/o nnn) A GREEN VALLEY GROCERY 3, % $ 13, $ 3.80 $ $ 1, $ - $ 14, May-14 $ 13, /01/02 Apr-17 3x5 $ 18, $ 573, Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec Annual AVG PSF Yearly Increase Increases: 3.5% 2014 $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 13, $ 165, $ $13, $13, $13, $13, $14, $14, $14, $14, $14, $14, $14, $14, $ 171, $ % 2016 $14, $14, $14, $14, $14, $14, $14, $14, $14, $14, $14, $14, $ 177, $ % 2017 $14, $14, $14, $14, $ 59, $ % B VILLAGE PUB 4, % $ 9, $ 2.00 $ $ 2, $ - $ 11, Jan-15 $ 9, /01/02 Dec-23 3x5 $ 9, $ 1,249, Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec Annual AVG PSF Yearly Increase 3.0% Increases 2014 $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 9, $ 108, $ $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $ 112, $ % 2016 $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $ 115, $ % 2017 $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $9, $ 119, $ % 2018 $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $ 122, $ % 2019 $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $ 126, $ % 2020 $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $10, $ 130, $ % 2021 $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $ 134, $ % 2022 $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $ 138, $ % 2023 $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $11, $ 142, $ % C HAIR SALON 1, % $ 1, $ 0.80 $ 9.60 $ $ - $ 1, Aug-14 $ 1, /01/13 Jan-24 none $ 2, $ 206, Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec Annual AVG PSF Yearly Increase 2014 $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $15, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $17, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $18, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $19, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $20, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $21, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $22, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $22, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $23, $ $2, $2, $2, $2, $2, $2, $2, $2, $2, $2, $2, $2, $24, $ D SEW LITTLE TIME 1, % $ 1, $ 1.10 $ $ $ - $ 2, Jun-14 $ 1, /01/11 May-16 none $ 1, $ 48, Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec Annual AVG PSF Yearly Increase 2014 $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $19, $ $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $1, $20, $ $1, $1, $1, $1, $1, $8, $ E & F SEW LITTLE TIME 2, % $ 3, $ 1.15 $ $ 1, $ - $ 4, Dec-14 $ 3, /10/12 Nov-15 none $ 2, $ 78, Jan Feb Mar Apr May Jun July Aug Sept Oct Nov Dec Annual AVG PSF Yearly Increase 2014 $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 39, $ $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 3, $ 39, $ PAD THE HUMAN BEAN $ $

5 SPANISH HILLS: PROPERTY INFORMATION Property Information Subject Property: Property Type: SPANISH HILLS Retail Shopping Center with Gas Station Property Address: 5325 South Fort Apache Road, Las Vegas, NV Building Size: Land Size: 13,764 sf 1.16 acres Construction Year: 2002 Parcel Numbers (APN): Zoning: Traffic Counts (2010): General Commercial (C2 - Clark County) W Tropicana Avenue: 33,000 AADT (annual avg. daily traffic) S Fort Apache Road: 29,000 AADT

6 INVESTMENT OFFERING OVERVIEW: PROPERTY PHOTOS SPANISH HILLS: Shop Space, Shell Gas Station C-Store, Village Pub Village Pub Shell Convenience Store Green Valley Grocery Sew Little Time Human Bean Coffee Drive-Thru (not a part) SWC of Fort Apache & Hacienda

7 INVESTMENT OFFERING OVERVIEW: MAP Las Vegas, Nevada Population (2012) Density 4,317/sq mi City 586,400 Urban 1,314,356 Metro 1,966,600

8 SPANISH HILLS: TRAFFIC COUNTS Building Type: Secondary: GLA: Year Built: Total Available: % Leased: Rent/SF/Yr: General Retail Freestanding 13,764 SF ,414 SF 89.73% $12.00 Spanish Hills Plaza 5325 S Fort Apache Rd, Las Vegas, NV Count Avg Daily Volume Miles from Street Cross Street Cross Str Dist Year Volume Type Subject Prop 1 W Russell Rd S Cc E ,828 MPSI.56 2 W Russell Rd Clark Co 215 Frontage Rd 0.15 E ,000 AADT.56 3 W Tropicana Ave S Fort Apache Rd 0.06 W ,000 AADT.57 4 W Tropicana Av S Fort Apache Rd 0.06 W ,000 MPSI.58 5 W Tropicana Ave S el Capitan Way 0.09 E ,000 AADT.74 6 W Tropicana Av S El Capitan Wy 0.09 E ,124 MPSI.74 7 S Fort Apache Rd W Patrick Ln 0.11 S ,000 AADT.87 8 S Fort Apache Rd W Patrick La 0.11 S ,985 MPSI.87 9 W Russell Rd N Cc W ,665 MPSI W Russell Rd Clark Co W ,000 AADT.88

9 SPANISH HILLS: 1, 3, 5 MINUTE DRIVE TIMES

10 SPANISH HILLS: PROPERTY DEMOGRAPHICS Building Type: Secondary: GLA: Year Built: General Retail Freestanding 13,764 SF 2002 Spanish Hills Plaza 5325 S Fort Apache Rd, Las Vegas, NV Total Available: % Leased: Rent/SF/Yr: 1,414 SF 89.73% $12.00 Radius 1 Mile 3 Mile 5 Mile Population 2017 Projection 18, , , Estimate 16, , , Census 15, , ,798 Growth % 5.10% 5.20% Growth % 2.40% 2.30% 2012 Population by Hispanic Origin 2,853 19,306 48, Population By Race 16, , ,867 White 9, % 66, % 159, % Black or African American 1, % 9, % 23, % American Indian and Alaska Native % % 1, % Asian 3, % 20, % 45, % Native Hawaiian and Pacific Islander % % 1, % Other Race % 7, % 18, % Two or More Races 1, % 5, % 13, % Households 2017 Projection 6,595 46, , Estimate 6,054 44, , Census 5,750 43, ,085 Growth % 4.40% 4.30% Growth % 2.80% 2.60% Owner Occupied 3, % 23, % 55, % Renter Occupied 2, % 21, % 51, % 2012 Households by HH Income 6,053 44, ,840 Income Less Than $15, % 2, % 7, % Income: $15,000 - $24, % 2, % 8, % Income: $25,000 - $34, % 4, % 10, % Income: $35,000 - $49, % 6, % 15, % Income: $50,000 - $74, % 9, % 22, % Income: $75,000 - $99,999 1, % 7, % 15, % Income: $100,000 - $149, % 7, % 15, % Income: $150,000 - $199, % 2, % 5, % Income: $200, % 2, % 5, % 2012 Avg Household Income $96,258 $81,109 $76, Med Household Income $80,166 $65,271 $59, Per Capita Income $35,324 $32,493 $31,051

11 SPANISH HILLS: PROPERTY DEMOGRAPHICS Demographic Trend Report Spanish Hills Plaza 5325 S Fort Apache Rd, Las Vegas, NV Mile Radius Description Population by Race 2,620 2,853 3,447 (Hispanic or Latino) White 1, % 1, % 1, % Black or African American % % % American Indian & Alaska Native % % % Asian % % % Native Hawaiian & Pacific Islander % % % Other Race % % 1, % Two or More Races % % % Household by Household Income 5,520 6,053 6,594 Income Less than $15, % % % Income $15,000 - $24, % % % Income $25,000 - $34, % % % Income $35,000 - $49, % % % Income $50,000 - $74,999 1, % % % Income $75,000 - $99, % 1, % 1, % Income $100,000 - $149,999 1, % % 1, % Income $150,000 - $199, % % % Income $200, % % % Average Household Income $0 $96,258 $110,979 Median Household Income $0 $80,166 $87,223 Per Capita Income $0 $35,324 $40,461