PROPERTY IDENTIFICATION

THE MOBILE HOME PARK OFFERING INCLUDES THE SIX PARCELS LISTED AND LABELED:

PARCEL #1

• PIN: 6-053-030 | RESTAURANT

• Located on the south side of the W Main Street service road, +/-130 ft. SE of the access from Highway 70/W Main Street.

Common Address: 403 W Main Street, Havelock, NC, 28532

PARCEL #2

• PIN: 6-053-016 | RETAIL BUILDING

• Located on the south side of the W Main Street service road, +/- 400 ft. SE of the access from Highway 70/W Main Street.

Common Address: 349 W Main Street, Havelock, NC, 28532

PARCEL #3

• PIN: 6-053-018 | RESTAURANT

• Located on the south side of the W Main Street service road, directly south of the access from Highway 70/W Main Street.

Common Address: 405 W Main Street, Havelock, NC, 28532

PARCEL #4

• PIN: 6-053-021 | 46.5 ACRE MOBILE HOME PARK

• Located on the south side of the W Main Street service road, +/- 275 ft. SE of the access from Highway 70/W Main Street.

Common Address: 100 Tilton Street, Havelock, NC, 28532

PARCEL #5

• PIN: 6-054-073 | VACANT LAND

• Located on the north side of Miller Boulevard, +/- 315 ft. E of the intersection of Patriot Court. Common Address: Miller Boulevard, Havelock, NC 28532

PARCEL #6

• PIN: 6-060-005 | VACANT LAND

• Located on the west side of Trader Avenue, +/- 320 ft. S of the W Main Street service road. Common Address: Trader Avenue, Havelock, NC 28532

KEY DRIVERS: MOBILE HOME PARKS

(FROM MSN MONEYWISE, SEPTEMBER 2022)

“In recent years, sophisticated investors have snapped up multi-family units and single-family homes. Now, corporate landlords are targeting the most cost-effective segment of the real estate market: mobile home parks.”

“Manufactured homes, or mobile homes, are considered the most affordable non-subsidized housing option in America. That’s because the owners own only the prefabricated unit and not the land under the home. The land is usually leased from the landlord of a trailer park.”

“As of 2020, nearly 22 million Americans lived in mobile homes. That’s 6.7% of the total population or about one in 15 people across the country. However, the economic inefficiencies that make these manufactured homes affordable also make them attractive to professional investors.”

Market Study

Comparable mobile home park lots have sold in a range of $54,000 - $79,000 per lot.

HAVELOCK:

EVERYTHING’S WITHIN REACH

Havelock is an attractive home to retired military veterans as well as civilians. Studies have revealed strong demand for “workforce housing” in both Craven And Carteret Counties. This property offers a great opportunity to meet this demand. As an established town in Eastern North Carolina—in the ever-evolving Craven County—Havelock is first and foremost a military town: home to Marine Corps Air Station Cherry Point. Yet aside from the steady influx of military personnel and base employees, Havelock also offers access to a wide variety of local attractions and destinations. The dynamic coastal community of New Bern is just 20 minutes away, while Morehead City (the gateway to the beaches of the Crystal Coast) are 17 miles to the southeast. With a mix of rich history, natural attractions, and year-round outdoor recreation, Havelock is an ideal starting point for exploration and discovery for both visitors and locals, alike. And as you would expect with the largest Marine Corps Air Station in the world, Havelock gives residents and visitors quick access to dining, shopping, and healthcare.

Getting Around

The main highway is US 70, which runs west to east through the center of town. NC 101/Fontana Boulevard leads to dual entrances at the Cherry Point Base. A new US 70 Bypass around the city is roughly 50% complete. The four-lane, median divided highway will allow for high-speed traffic to alleviate the burden (and dependence) on US 70. There will be direct thoroughfare access from this property to the US 70 Bypass.

US 70 IMPROVEMENTS at WILSON'S MILLS

INTERCHANGE

US 70 IMPROVEMENTS US 70 BYPASS TO SR 1229

TIP #: R-5829A RIGHT OF WAY - 2024 CONSTRUCTION - 2026

Date: October 2020

US 70 IMPROVEMENTS at JIM SUTTON ROAD

TIP #: R-5813 RIGHT OF WAY - 2026 CONSTRUCTION - 2028

70 £ ¤ 17

#: W-5107 ¬ 41 ¬ 50 ¬ « 53

58 ¬ 903

US 70 IMPROVEMENTS US 70 at TABERNA WAY AND THURMAN

RD TIP #: R-5777A/B R/W- IN PROGRESS UNDER CONSTRUCTION US 70 IMPROVEMENTS SR 1229 TO PONDFIELD RD TIP #: R-5829B RIGHT OF WAY - 2025 CONSTRUCTION - 2028 KINSTON BYPASS TIP #: R-2553 B RIGHT OF WAY - 2029 CONSTRUCTIONPOST YEARS

#: R-1015 Clayton Walnut Creek

17

SLOCUM GATE

US 70 IMPROVEMENTS

RADIO ISLAND ROAD: Inc.

NEWPORT RIVER BRIDGE

TIP #: U-5876

RIGHT OF WAY - 2025 CONSTRUCTION - 2027

TIP

#: R-5777C

HAVELOCK BYPASS Pine Level

OF WAY - IN PROGRESS Selma LaGrange Dover Cove City § ¨ 40

UNDER CONSTRUCTION £ ¤ 421

IMPROVEMENTS US 70 AT GLENBURNIE RD TIP #: U-6102 RIGHT OF WAY - 2027 CONSTRUCTION - POST YEARS US 70

US 70 CORRIDOR NC DOT PROJECT LOCATIONS Wilson Princeton

WAY - 2023

IMPROVEMENTS

OLGA RD TO WHITEHURST RD. TIP #: R-4746 RIGHT OF WAY - 2029

CONSTRUCTION

- POST YEARS

Date: WAKE, JOHNSTON, WAYNE, LENIOR, JONES, CRAVEN, CARTERET COUNTIES US 70 CORRIDOR NC DOT PROJECT LOCATIONS NORTH CAROLINA DEPARTMENT OF TRANSPORTATION DIVISION OF HIGHWAYS PROJECT DEVELOPMENT AND PROJECT MANAGEMENT UNIT ´ October 2020 1 Figure 0 10 Miles Legend Future Retrofit Existing Freeway US 70 BUS Interstate NC US Railroads National Forests Member Counties Current Project

NO RTH CAROLINA DEPARTMENT OF TRANSPORTATION

DIVISION OF HIGHWAYS

PROJECT DEVELOPMENT AND PROJECT M ANAGEMENT UNIT

Although the information contained herein was provided by sources believed to be reliable, Morton Companies Management, LLC makes no representation, expressed or implied, as to its accuracy and said information is subject to errors, omissions or changes.