2330 West Pierce Street, Carlsbad, NM 88220

LEASE TERM: Familia Dental has been at this location since 2014 and recently exercised a 5-year renewal option, and added two additional years of term, demonstrating their commitment to the site and the market. Familia Dental has 10+ years remaining on their lease with one (1), 5-year renewal option.

ANNUAL RENT INCREASES: The Lease calls for an attractive 6.3% rent increase at the start of the renewal option, providing a fixed increase in income and an attractive hedge against inflation.

MINIMAL LANDLORD RESPONSIBILITIES: Familia Dental reimburses 100% of real estate taxes and insurance and handles common area maintenance directly making it an attractive investment for the passive real estate investor. The Landlord is responsible for HVAC repairs above $500, HVAC replacement and roof and structure.

DYNAMIC TENANT: Familia Dental is a dental practice founded in 2008 that offers affordable, accessible care, including orthodontics and general dentistry, across over 35 locations in Illinois, Indiana, Iowa, New Mexico, Texas, and Wisconsin. Familia Dental is primarily owned by The Halifax Group, a private equity firm that partnered with management to recapitalize the company in 2016.

PRIME RETAIL LOCATION: The Property is well located along W Pierce Street (US Route 285), the area’s primary commercial and commuter corridor, and benefits from outstanding signage, visibility and frontage. The location is part of the dominant trade area centered along US Route 285 between Carlsbad Medical Center (Hospital) and Carlsbad Mall with convenient access to Downtown Carlsbad. The Property is close to numerous hotels and motels, businesses, national and local retailers and restaurants, all of which draw significant traffic to the area. Additionally, the Property is convenient to area schools, Southeast New Mexico College, and residential neighborhoods that provide a built-in customer base.

ECONOMIC DRIVERS: Carlsbad, New Mexico’s economy is anchored by a combination of natural resource production, industrial activity, and tourism, creating a uniquely diversified but energy-driven economic base. The most significant driver is the oil and gas industry, as Carlsbad sits within the prolific Permian Basin, one of the most productive energy regions in the United States. This sector supports a large share of local employment and high wages, with mining, quarrying, and oil and gas extraction representing the largest industry in the area. Tourism also plays a vital role in the local economy, driven by major attractions such as Carlsbad Caverns National Park, Guadalupe Mountains National Park, and recreational assets along the Pecos River. These destinations draw hundreds of thousands of visitors annually, supporting hotels, restaurants, and retail businesses. Healthcare and education further stabilize the economy, with regional medical centers and institutions like Southeast New Mexico College providing employment and essential services to the broader population.

RECESSION & E-COMMERCE RESISTANT TENANT: The demand for dental services is on the rise, driven by an aging population and increasing awareness of oral health's importance. The need for brick and mortar medical and dental office buildings will continue to increase. This industry is unaffected by recessions and the need for personal interaction and specific medical aid cannot be satisfied through e-commerce.

TRAFFIC COUNTS: On average more than 12,600 vehicles pass the Property each day along W Pierce Street (US Route 285).

DEMOGRAPHICS: There are over 24,200 people living within three miles of the Property with an average household income of $104,957. More than 39,500 people live within ten miles of the Property with an average household income of $106,977.