Offering Memorandum HIWASSEE WHITEWATER COMPANY 179 Tellico Reliance

Offering Memorandum HIWASSEE WHITEWATER COMPANY 179 Tellico Reliance

Offering Memorandum HIWASSEE WHITEWATER COMPANY 179 Tellico Reliance Rd Reliance, TN 37369 1 NON-ENDORSEMENT AND DISCLAIMER NOTICE Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. 2018 Marcus & Millichap. All rights reserved. Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates

or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. HIWASSEE WHITEWATER COMPANY Reliance, TN ACT ID ZAA0960001 2 HIWASSEE WHITEWATER COMPANY TABLE OF CONTENTS SECTION INVESTMENT OVERVIEW 01 Offering Summary Local Map Aerial Photo Floor Plans Site Plan Parcel Map

FINANCIAL ANALYSIS 02 Rent Roll Summary Commercial Operating Statement Notes Pricing Detail Acquisition Financing 3 HIWASSEE WHITEWATER COMPANY INVESTMENT OVERVIEW 4 HIWASSEE WHITEWATER COMPANY OFFERING SUMMARY EXECUTIVE SUMMARY VITAL DATA Price

$950,000 Loan Amount $665,000 Loan Type Proposed New Interest Rate / Amortization Total Rentable SF Price/SF Year Built / Renovated 5.25% / 20 Years CAP Rate Net Operating Income Net Cash Flow After Debt Service Total Return

2018 10.39% YEAR 1 11.08% $98,714 $105,300 15.77% / $44,941 18.08% / $51,527 22.55% / $64,262 25.22% / $71,887 5,624 $0.00 2003 / 2016 UNIT MIX UNIT COUNT

CURRENT AVG. RENTS AVG. RENTS/SF MONTHLY INCOME POTENTIAL RENTS AVG. RENTS/SF MONTHLY INCOME UNIT TYPE AVG. SF SUITE COUNT TYPE

TOTAL GLA CURRENT RENT RANGE CURRENT MONTHLY INCOME PRO FORMA MONTHLY INCOME 1 Retail 5,624 $24,560 - $24,560 $24,560 $26,000 MAJOR EMPLOYERS EMPLOYER

# OF EMPLOYEES Springtown Fire Station 13 Webbs Brothers Float Service 10 East Tennesse Nursery 9 Stadium Bbq - Delano 9 Cheryl A Farmer 7 Flip-Flop Burgers 7

Hiwassee Custom Cookers 7 Hiwassee/Ocoee River Park 7 Lance Satterfield 7 Low Tide Productions 7 Hiwassee Whitewater Co LLC 6 SW Inc 6 DEMOGRAPHICS 1-Miles

2018 Estimate Pop 2010 Census Pop 2018 Estimate HH 2010 Census HH Median HH Income Per Capita Income Average HH Income 3-Miles 5-Miles 39 215 1,513 37 200

1,416 23 106 647 21 100 612 $43,171 $43,359 $43,135 $30,393 $26,383 $22,634 $52,938 $53,479 $52,968

# 5 HIWASSEE WHITEWATER COMPANY OFFERING SUMMARY INVESTMENT OVERVIEW This amazing investment opportunity includes a fully operating and exclusive restaurant, retail store, campground, bunkhouse/bathhouse and event center with its own wastewater treatment facility and artesian well. All sitting on 2.8 acres on the Hiwassee river and the section of the river that passes through Reliance and flows in front of Hiwassee Whitewater Company to Delano, TN is designated a scenic river and is a popular paddling destination featuring flat water and whitewater class I, II, and III rapids. The State Park and Cherokee National Forest offer hiking trails, camping and several public launch areas so the town of Reliance gets very busy during rafting season and Flip Flop Burger is the only place to go. Another feature of this location is it's proximity to the Tennessee Valley Scenic Railroad which travels right through Reliance and is within 50 yards to the front door of this business. The railroad was formerly part of the Louisville and Nashville (L&N) Railroads Atlanta Division stretching between Etowah, TN and Marietta, Georgia. All inventory, equipment and supplies are included. A full three years of profit and loss statements are available upon request. INVESTMENT HIGHLIGHTS Thriving Business in the Heart of the Cherokee National Forest Multiple Revenue Streams Massive Annual Growth Since 2016 with Even More Potential Only Restaurant in Reliance Tourist Destination Hiwassee River Frontage 6

HIWASSEE WHITEWATER COMPANY OFFERING SUMMARY PROPERTY OVERVIEW Nestled in the Cherokee National Forest, Hiwassee Whitewater Company is home to the local favorite spot of Flip-Flop Burgers, a counter-service restaurant serving the tens of thousands of tourists coming through the beautiful Hiwassee River in Reliance, Tennessee. The restaurant is 1,700 square feet with a 40-person seating capacity and an additional outside capacity of 250 people in a large, covered pavilion. With outdoor games and a fire pit overlooking the scenic Hiwassee River and mountains of Reliance, this is a perfect venue for weddings, family reunions, company parties, and more. Hiwassee Whitewater Company also includes a 2,500-square-foot retail store that could be easily converted into indoor seating for the restaurant or be kept as an outfitter for retail sales. The property consists of primitive campgrounds, a 16-bed bunkhouse/bathhouse, private river access and 650 feet of river frontage making it a perfect investment for outfitters and rafting companies. Restaurant owners looking to capitalize on a well-established restaurant in a prime location or investors looking for a one-of-a-kind business opportunity with the potential for ample growth and expansion, take advantage of this turnkey business opportunity fully equipped with multiple income streams. Upstairs is set up as an office space or owner residence. All restaurant equipment, supplies, and products included. Full inventory of equipment and supplies is available upon request. # 77 HIWASSEE WHITEWATER COMPANY OFFERING SUMMARY

PROPERTY SUMMARY EXISTING FINANCING THE OFFERING Property Price Property Address Assessors Parcel Number Zoning Hiwassee Whitewater Company $950,000 179 Tellico Reliance Rd, Reliance, TN 070038D A 05000 Commercial Loan Amount $302,000 Loan Type bank Due Date

12/1/2015 Prepayment Penalty $50,000 Lender Name bank SITE DESCRIPTION Number of Units Year Built/Renovated Total Rentable Square Feet Lot Size 1 2016 5,624 2.81 acre(s) PROPOSED FINANCING First Trust Deed Loan Amount

Loan Type $665,000 Proposed New Interest Rate 5.25% Amortization 20 Years Loan Term 10 Years Loan to Value 70% Debt Coverage Ratio 1.84 #

8 HIWASSEE WHITEWATER COMPANY LOCAL MAP 9 HIWASSEE WHITEWATER COMPANY AERIAL PHOTO 10 HIWASSEE WHITEWATER COMPANY PROPERTY PHOTO Marcus & Millichap closes more transactions than any other brokerage firm. 12 11 HIWASSEE WHITEWATER COMPANY FLOOR PLANS 12

HIWASSEE WHITEWATER COMPANY FLOOR PLANS 13 HIWASSEE WHITEWATER COMPANY SITE PLAN 14 HIWASSEE WHITEWATER COMPANY PARCEL MAP 15 HIWASSEE WHITEWATER COMPANY FINANCIAL ANALYSIS 16 HIWASSEE WHITEWATER COMPANY OPERATING STATEMENT

FINANCIAL ANALYSIS 17 HIWASSEE WHITEWATER COMPANY NOTES FINANCIAL ANALYSIS 18 HIWASSEE WHITEWATER COMPANY PRICING DETAIL FINANCIAL ANALYSIS 19

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