• 9+ years remain on lease with an additional 2 (5-year) option periods to extend • The lease features scheduled annual rental increases throughout the initial term, growing NOI and hedging against inflation • Fee Simple fully depreciable asset • The base rent throughout the option periods is based on an annual fair market value basis • Originating as a food cart in 2007, Pupatella has quickly become a household name for Neapolitan Pizza throughout the Washington, D.C. region • Pupatella is certified by the Assozione Verace Pizza Napoletana (AVPN), the legal Italian entity that defines what true Neapolitan Pizza is and ensures that each pizzeria complies with strict guidelines • There are currently 10 established Pupatella restaurants with an additional location opening in Maryland soon • Tenant pays for taxes, insurance, and maintains most of the premises • Landlord is responsible for the capital expenses pertaining to the roof & structure • Roof work was recently completed in November 2021, limiting future landlord expenses • Ideal, low-management, depreciable investment for a passive investor • Strategically located at the hard corner intersection of Massachusetts Avenue and 3rd Street, averaging a combined 30,300 vehicles passing by daily • The property is ideally situated near many national/credit tenants, office complexes, museums, and additional tourist attractions, providing a direct consumer base • The Smithsonian Postal Museum, Senate Fountain, U.S. Capitol, Library of Congress, Capital One Arena, and more are all within walking distance to the subject • The property is less than a mile from Eastern Market, D.C.’s oldest market that attracts 500,000 annual visitors • The property is situated within a cluster of hotels that include Marriott, Capitol Hill Hotel, Hilton, The Royal Sonesta, and others, further providing a direct consumer base • Pupatella is 0.40 miles from Union Station metro station (Red Line), averaging 35,000 daily passengers, making it among the busiest stations in the D.C. area • Capitol Hill is known as the Federal Government’s Commercial District with an abundance of shops, eateries, federal institutions, and more • The neighborhood averages a daytime population of 75,900+ • There is currently 1.1 million SF of existing office space • 49% of the residents are at least 34 years of age with the median age being 35.7 years within 3 miles of the neighborhood center • Residents within 3 miles, on average, spend $707 million on Entertainment & Recreation and $925 million on food away from home annually • The 5-mile trade area from the subject is supported by over 795,900 residents and 922,800 daytime employees • Residents within 1-, 3-, and 5-miles from the subject boast an affluent average household income of $197,911, $161,953, and $150,691, respectively