1MIT LLC

About Us:

Welcome to 1MIT LLC. As a subsidiary of a Family Office Holding Company based in Tampa, FL, we have amassed over 400,000 sq. ft. of retail property across the United States. Through astute financial management over the past 40 years, we have successfully paid off our mortgages, leaving 90% of our holdings debt-free. Our sights are now set on employing our significant cash flow and utilizing depreciation to expand our portfolio.

We're not in the business of hunting bargains. Our interest lies in acquiring trophy properties that are a point of pride. We believe in paying a fair price, striking a balance where everyone is content at the end of the transaction. If you believe you've got such a property that fits our criteria, we'd love to hear from you.

In terms of our portfolio's worth, we echo Rockefeller: "If you know exactly how much you have, you probably don't have very much." Our estimation lies between $150 to $300 million.

Our Criteria:

• Small strips with up to 4 tenants or small single tenant buildings with high credit ratings (e.g., Dunkin Donuts, Aspen Dental, Heartland Dental, Wendy's).

• Locations with a median household income above $70,000.

• High traffic areas with a count over 20,000 VPD.

• Areas with high-quality tenants and signs of upward growth: rising population, economic activity, and new developments.

• We strictly avoid cannabis products, dry-cleaners, environmentally risky tenants, and automotive-related businesses(car washes, gas stations, auto-parts stores, fast oil change etc.).

• Properties must pass a Phase 1 environmental assessment with 0 RECs. We do not purchase anything that requires a Phase 2.

Our Formula:

We target a 6-7% CoC return on our investments, putting down 40% and borrowing the rest. Add 250bps to the 10-year T-bill rate, and you'll have an idea of our borrowing rates. Be upfront with us. Don't waste our time or yours with a 5.5 cap when the interest rates are at 6%. It's not reasonable.

Dealing With Us:

Once we issue an LOI, barring environmental issues or misrepresented material information in the OM, we always close if you accept our offer. Our LOIs are brief, clear, and can fit on the back of a napkin. Please don't bother with overly complex LOIs full of legal jargon, save it for the PSA.

Our transaction terms are straightforward:

• 30-day due diligence period.

• 30-day closing period.

• 5% earnest money delivered within 5 business days from signing.

• No mortgage contingencies.

We insist on simplicity in our PSAs as well. If your contract exceeds 10 pages, please reconsider. It's annoying for everyone involved, and no one wants to pay a lawyer $1000/hr to wade through unnecessary bullshit.  Let's keep things concise and efficient. We're here for the real estate, not the red tape.