410 ACRES PRIME DEVELOPMENT LAND – Market Positioning and Pricing Analysis 410 ACRES PRIME DEVELOPMENT LAND – PINE ISLAND, MN. $3,895,000.00 125th St NW • Pine Island, MN 55963 PRESENTED BY Tom Gommels Associate Minneapolis Office Tel: (952) 852-9734 Fax: (952) 852-9710 tom.gommels@marcusmillichap.com License: MN 40524426

NON-ENDORSEMENT AND DISCLAIMER NOTICE Non-Endorsements 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. Disclaimer THIS IS A BROKER PRICE OPINION OR COMPARATIVE MARKET ANALYSIS OF VALUE AND SHOULD NOT BE CONSIDERED AN APPRAISAL. This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap. All rights reserved. 410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN Pine Island, MN ACT ID Y0510423

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN INVESTMENT OVERVIEW

4 410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN PROPERTY OVERVIEW The subject property is 410 acres of prime residential development land less than 2 miles Southeast of Pine Island, MN. Having been leased out as a game farm for the past 30 years, the property is a beautiful combination of rolling hills, grassy meadows and Pine trees. Income from renting out the property as a game farm, tillable rental income and CRP has totaled approximately $78,162 annually. In addition the game farm has reimbursed for property taxes. Property could be kept as a game farm (ask for details) or is a prime development opportunity. Rochester has been named as one of the 'best places to live' by numerous publications over the past several years. Rochester's Mayo Clinic is in the early stages of a $6 Billion dollar expansion entitled "Destination Medical center' (DMC) which is expected to bring in a minimum of 30,000 new employees to Mayo Clinic many of whom are likely to settle in bedroom communities such as Pine Island which is just a 20 minute drive away. The property is an ideal candidate for a R-1 development as it is included in the City of Pine Island’s expansion plans and has city water and sewer located nearby. Seller will consider offers for a portion of the land. Buyer is responsible for all necessary rezoning requirements. PROPERTY OVERVIEW City utilities are located close to subject properties making it an ideal candidate for an R-1 subdivision. Subject property is included in Pine Island’s expansion plans. Seller will consider offers for a portion of the land. Located Just a Few Minutes from the Pine Island Golf Course. Adjacent to the Paved, Douglas Biking/Walking Trail Stretching 12.5 Miles; Starting in Rochester, Going Through the Small Town of Douglas , Ending in Pine Island. 4

BUYER RESPONSIBLE FOR VERFYING DIMENSIONS OF SUBJECT PROPERTY. PROPERTY OVERVIEW SUBJECT PROPERTY BUYER RESPONSIBLE FOR VERFYING DIMENSIONS OF SUBJECT PROPERTY. 5

6 BUYER RESPONSIBLE FOR VERIFYING DIMENSIONS OF SUBJECT PROPERTY. DOLLAR GENERAL, KWIK TRIP, PINE ISLAND LUMBER, HARDWARE HANK CITY OF PINE ISLAND PINE ISLAND GOLF COURSE EXISTING HIGHWAY 52 INTERCHANGE – APPROXIMATELY 12 MINUTES TO ROCHESTER COUNTY ROAD 3 NEW PINE ISLAND ELEMENTARY SCHOOL NEW PAVED ROAD SUBJECT PROPERTY DOUGLAS TRAIL: 12.5 MILE BIKING/WALKING TRAIL FROM PINE ISLAND TO ROCHESTER BUYER RESPONSIBLE FOR VERIFYING DIMENSIONS OF SUBJECT PROPERTY. 6

SUBJECT PROPERTY

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN REGIONAL MAP ROCHESTER 7

Rochester, MN & DMC Rochester, MN & DMC 9 Rochester is the county seat of Olmsted county and is the third-largest city in Minnesota.  The city has been frequently recognized by Money Magazine, since the 1980's as one of the best places to live in the United States ranging from the best overall to the best in the Midwest. In addition, Rochester was just named by Livability as the top City in America for 2017. According to the United States Census Bureau the estimated population in 2016 was 114,011.  Mayo Clinic forms the core of Rochester's economy. As of 2016, it employs 34,180 people and draws more than 2 million visitors annually. The clinic's many facilities, along with hotels, restaurants and retail stores, comprise nearly all of the city's downtown. Excluding the state government, Mayo Clinic is the largest employer in Minnesota. Mayo Clinic is in the early stages of their Destination Medical Center (DMC) expansion which is expected to add over 30,000 employees by completion. DMC is a robust 20-year $5.6 billion economic development initiative. The largest in Minnesota’s history, DMC is designed to position Mayo Clinic as a global center for the highest quality medical care and to generate high-value jobs, new tax revenue, and businesses. This long term growth plan makes Rochester a very attractive market for businesses and investment opportunities both now and in the long term. For more information on Destination Medical Center please visit https://dmc.com Rochester, MN & DMC Rochester, MN is Consistently one of the ‘Top Places to Live in America’. Mayo Clinic’s DMC Project is Expected to add 30,000+ Employees. 9

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN MARKET OVERVIEW

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN PROPERTY NAME 410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN Created on January 2018 DEMOGRAPHICS MARKETING TEAM POPULATION 1 Miles 3 Miles 5 Miles 2022 Projection Total Population 1,406 4,400 5,609 2017 Estimate 1,292 4,052 5,194 2010 Census 1,237 3,947 5,043 2000 Census 1,080 3,443 4,441 Daytime Population 898 4,068 4,685 HOUSEHOLDS Total Households 570 1,770 2,246 516 1,605 2,048 Average (Mean) Household Size 2.45 2.49 490 1,551 1,972 383 1,234 1,593 HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2017 Estimate $250,000 or More 3.27% 2.80% 2.95% $200,000 - $249,999 1.86% 2.10% 2.24% $150,000 - $199,999 6.18% 5.24% 6.14% $125,000 - $149,999 8.12% 6.81% 6.91% $100,000 - $124,999 12.97% 12.99% 13.33% $75,000 - $99,999 14.88% 13.78% 14.83% $50,000 - $74,999 17.88% 18.73% 18.41% $35,000 - $49,999 10.63% 11.29% 10.90% $25,000 - $34,999 5.30% 5.68% 5.88% $15,000 - $24,999 7.95% 8.60% 7.71% Under $15,000 10.97% 11.99% 10.71% Average Household Income $91,003 $85,415 $88,753 Median Household Income $70,092 $63,327 $68,623 Per Capita Income $36,597 $34,058 $35,178 Source: © 2017 Experian

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN PROPERTY NAME 410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN Created on January 2018 DEMOGRAPHICS MARKETING TEAM POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population by Age 0 to 4 Years 5.38% 6.22% 6.06% 5 to 14 Years 13.22% 13.42% 13.61% 15 to 17 Years 4.21% 4.07% 4.16% 18 to 19 Years 1.99% 1.96% 2.06% 20 to 24 Years 4.73% 5.09% 5.01% 25 to 29 Years 5.16% 5.49% 5.26% 30 to 34 Years 5.99% 6.49% 6.21% 35 to 39 Years 5.70% 6.00% 40 to 49 Years 11.43% 11.27% 11.66% 50 to 59 Years 16.74% 15.85% 16.36% 60 to 64 Years 7.23% 6.74% 6.77% 65 to 69 Years 6.50% 6.07% 6.05% 70 to 74 Years 3.83% 3.84% 3.87% 75 to 79 Years 2.60% 2.50% 2.48% 80 to 84 Years 2.23% 2.11% 1.95% Age 85+ 3.05% 2.87% Median Age 43.62 41.21 41.56 POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population 25+ by Education Level 2017 Estimate Population Age 25+ 910 2,805 3,590 Elementary (0-8) 2.77% 2.65% 2.37% Some High School (9-11) 5.43% 4.54% 4.52% High School Graduate (12) 27.63% 28.51% 28.66% Some College (13-15) 19.72% 20.79% 20.99% Associate Degree Only 14.88% 15.22% 14.93% Bachelors Degree Only 19.97% 19.71% 19.90% Graduate Degree 8.90% 8.12% 8.14% Source: © 2017 Experian

410 ACRES DEVELOPMENT LAND - PINE ISLAND, MN PROPERTY NAME DEMOGRAPHICS MARKETING TEAM Population Race and Ethnicity In 2017, the population in your selected geography is 1,292. The population has changed by 19.63% since 2000. It is estimated that the population in your area will be 1,406.00 five years from now, which represents a change of 8.82% from the current year. The current population is 49.75% male and 50.25% female. The median age of the population in your area is 43.62, compare this to the US average which is 37.83. The population density in your area is 410.13 people per square mile. People of Hispanic origin make up 1.74% of the current year population in your selected area. Compare this to the US average of 17.88%. Households Housing There are currently 516 households in your selected geography. The number of households has changed by 34.73% since 2000. It is estimated that the number of households in your area will be 570 five years from now, which represents a change of 10.47% from the current year. The average household size in your area is 2.45 persons. The median housing value in your area was $231,753 in 2017, compare this to the US average of $193,953. In 2000, there were 327 owner occupied housing units in your area and there were 56 renter occupied housing units in your area. The median rent at the time was $369. Income Employment The current year per capita income in your area is $36,597, compare this to the US average, which is $30,982. The current year average household income in your area is $91,003, compare this to the US average which is $81,217. In 2017, there are 162 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 58.32% of employees are employed in white-collar occupations in this geography, and 42.02% are employed in blue-collar occupations. In 2017, unemployment in this area is 3.26%. In 2000, the average time traveled to work was 24.00 minutes. Source: © 2017 Experian

PRESENTED BY www.MarcusMillichap.com Tom Gommels Associate Minneapolis Office Tel: (952) 852-9734 Fax: (952) 852-9710 tom.gommels@marcusmillichap.com License: MN 40524426 www.MarcusMillichap.com