Offering Memorandum

OFFERING MEMORANDUM

DOOR DASH 1156 E TALLMADGE RD., AKRON OH 44310

PRICE NOI CAP RATE $ 725,000 | $ 55,413.98 | 7.64%

ACTUAL SITE

24500 CHAGRIN BLVD. #100 | BEACHWOOD, OH 44122 | 216-342-2523 ANCHORCLEVELAND.COM AKRON, OHIO

EXCLUSIVELY MARKETED BY:

DOUG HOLTZMAN [email protected] 216-342-2242 MAKE IT HAPPEN WEAnchor Cleveland is a retail and investment real estate brokerage industry leader. We specialize in tenant and landlord representation, shopping center leasing, land sales and assemblage, investment sales, consulting services and property management.

We represent premier national retailers, restaurants, landlords, TORI NOOK property owners, and developers in lease and sale negotiations, land [email protected] acquisitions, dispositions, and assemblages, as well as investment 216-342-2550 sales. Founded on the principles of integrity and uncompromising commitment to service, our mission is to become a true business partner, providing the market insight and retail expertise to help our clients reach and exceed their goals. Discover Anchor Cleveland’s

TORI NOOK PRINCIPAL, ANCHOR CLEVELAND founded on the principals of integrity and our client’s needs. Our mission MISSION is to be a true business partner and become COMMITTED to your needs!

Investment Sales • AnchorCleveland.com | 2 DISCLAIMER STATEMENT

Although effort has been made to provide accurate information, neither the owner nor Anchor Cleveland can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor Anchor Cleveland represents that this document is all inclusive or contains all of the information a purchaser may require.

All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in exact time the evaluations were undertaken. They do not purport to redact changes in the economic performance of the property or the business activities of the owner since the date of preparation of this document. The projected economic performance of the property, competitive sub-market conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

Investment Sales • AnchorCleveland.com | 3 TABLE OF CONTENTS

ANCHOR CLEVELAND We Make it Happen

P • 5-6 INVESTMENT SUMMARY Offering Highlights and Portfolio Overview

P • 7-12 VISUAL Aerials, Maps, and Demographics

P • 13 TENANT OVERVIEW DoorDash Overview

P • 14 MARKET OVERVIEW Akron, Ohio Overview

The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC INVESTMENT SUMMARY Anchor Cleveland is pleased to present the opportunity to acquire a free-standing building leased to DoorDash (NYSE: DASH). DoorDash will be utilizing the space as a driver-only warehouse/convenience store to fulfil their delivery orders. This is a new concept for the company and they had very specific and selective requirements. At the time of Lease Execution, this is anticipated to be the first and only Akron MSA location for DoorDash.

The site is located within the city of Akron on the NE side of the city, easily accessible from SR-8 (108,000 vehicles per day) which is one of the main highway systems that connects the east side of Cleveland to Akron and Canton. With over 12,000 VPD, easy highway access and located within a dense residential and daytime population, the property offers great visibility and access.

INVESTMENT HIGHLIGHTS • Price: $725,000

• Cap Rate: 7.64%

• NOI: $55,413.98

• Rent: $9.50 psf or $76,000/yr = $6,333.33/mo

• Building Size: 8,000 SF

• Expenses: $20,586.02

• Acreage: 0.53 acres

• Lease: N

• Tenant pays $300/mo maintenance fee for landscaping and snow plow

• Tenant responsible for HVAC repairs up to $2,000/yr

• Landlord responsible for roof, structure, parking lot repairs, HVAC replacement, and Real Estate Taxes and Insurance

Investment Sales • AnchorCleveland.com | 5 HIGHLIGHTS

CORNER LOT ON HEAVIL TRAVELED TREET INVESTMENT OVERVIEW DOOR DASH BLICL TRADED COAN NE DAH 11 E TALLADGE RD., ARON OH 310 TENANT AID OR BILDOT HOWING COITENT TO THE ITE PRICE CAP RATE

TRONG DEOGRAHIC .

GREAT ACCE TO THE REEWA LEASABLE SQUARE FOOTAGE: ACREAGE: NET OPERATING INCOME:

,000 0.3 ACRE ,13.

BUILT: LEASE TYPE: RENT PSF:

200 N LEAE .0

LEASE EXPIRATION: RENT INCREASES: OPTIONS:

022202 3 RENT INCREAE W 1, 3R OTION EACH OTION

Investment Sales • AnchorCleveland.com | 6 LEASE ABSTRACT AND FINANCIALS

EXPENSES 2021 Tenant pays $9.50 psf in base rent plus $300/mo for exterior maintenance Tenant is responsible for all utilities and interior maintenance, including HVAC repairs Real Estate Taxes $ 18,865.02 up to $2,000/year

Landlord is responsible for maintaining the exterior of the property, Real Estate Taxes Insurance $1,721 and Insurance

Investment Sales • AnchorCleveland.com | 7 SITE N Lorem ipsum Anchor TRADE1156 AERIAL East Tallamadge Avenue | AKRON, OH 44310 CLEVELAND HOWE AVE 8 N

12,951VPD PLAZA AT CHAPEL HILL 101,505 VPD BUCHOLZER BLVD

HOMEAVE

Willoughby Supply BRITTAIN RD BRITTAIN PUBLIC STORAGE

INDUSTRIALPKWY LyondellBasell

261 EAST TALLMADGE AVE 7,641 VPD WEST TALLMADGE AVE

SITE

TRADE AREA AERIAL 24500 CHAGRIN BLVD, SUITE 100, BEACHWOOD, OH 44122 | 216-342-2523 | WWW.ANCHORCLEVELAND.COM TheThe information information submitted hereinsubmitted is not guaranteed. herein Although is not obtained guaranteed. from reliable Although resources, it is obtained subject to errors, from omissions, reliable prior saleresources, and withdrawal it is from subject the market to without errors, notice. omissions, Broker has made prior no investigation sale and and withdrawal makes no representation from the of the market property. without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC N SITE Anchor 1156 East Tallamadge Avenue | AKRON, OH 44310 CLEVELAND SITE PLAN

SITE

The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. © 2021 ANCHOR CLEVELAND LLC SITE PLAN 24500 CHAGRIN BLVD, SUITE 100, BEACHWOOD, OH 44122 | 216-342-2523 | WWW.ANCHORCLEVELAND.COM The information submitted herein is not guaranteed. Although obtained from reliable resources, it is subject to errors, omissions, prior sale and withdrawal from the market without notice. Broker has made no investigation and makes no representation of the property. LOCATION MAP

SUMMARY PROFILE 2000-2010 Census, 2020 Estimates with 2025 Projections Calculated using Weighted Block Centroid from Block Groups

Lat/Lon: 41.1017/-81.4731

1156 E Tallmadge Ave 1 mi radius 3 mi radius 5 mi radius Akron, OH 44310

2020 Estimated Population 0 T 7,237 90,121 226,762 2025 Projected Population 0 T 7,114 91,229 231,061 2010 Census Population 0 T 6,976 91,218 228,955 2000 Census Population 0 T 7,128 97,149 244,122

Projected Annual Growth 2020 to 2025 - -0.3% 0.2% 0.4%

POPULATION Historical Annual Growth 2000 to 2020 - - -0.4% -0.4%

2020 Median Age 41.4 36.9 37.8

2020 Estimated Households 0 T 3,609 38,824 97,789 2025 Projected Households 0 T 3,582 39,794 100,908 2010 Census Households 0 T 3,396 38,349 96,389 2000 Census Households 0 T 3,381 40,636 100,722

Projected Annual Growth 2020 to 2025 - -0.1% 0.5% 0.6% HOUSEHOLDS Historical Annual Growth 2000 to 2020 - 0.3% -0.2% -0.1%

2020 Estimated White - 68.7% 73.0% 69.1% 2020 Estimated Black or African American - 21.3% 18.1% 23.1% 2020 Estimated Asian or Pacific Islander - 4.8% 4.1% 3.4% 2020 Estimated American Indian or Native Alaskan - 0.3% 0.3% 0.2% - 4.8% 4.6% 4.2%

RACE AND RACE ETHNICITY 2020 Estimated Other Races

2020 Estimated Hispanic - 4.0% 3.3% 2.8%

2020 Estimated Average Household Income $0 T $49,619 $59,358 $63,219 2020 Estimated Median Household Income $0 T $40,459 $49,437 $51,926

INCOME 2020 Estimated Per Capita Income $0 T $24,778 $25,883 $27,527

2020 Estimated Elementary (Grade Level 0 to 8) - 11.9% 4.8% 3.4% 2020 Estimated Some High School (Grade Level 9 to 11) - 6.4% 7.6% 6.9% 2020 Estimated High School Graduate - 33.4% 34.1% 32.6% 2020 Estimated Some College - 20.5% 20.6% 21.7% 2020 Estimated Associates Degree Only - 10.1% 9.4% 9.2% (AGE 25+) EDUCATION 2020 Estimated Bachelors Degree Only - 12.9% 16.0% 17.6% 2020 Estimated Graduate Degree - 4.8% 7.5% 8.6%

2020 Estimated Total Businesses 0 T 501 3,609 7,648 2020 Estimated Total Employees 0 T 6,670 52,104 103,032 2020 Estimated Employee Population per Business - 13.3 14.4 13.5

BUSINESS 2020 Estimated Residential Population per Business - 14.4 25.0 29.6

DOORDASH

DoorDash was launched as PaloAltoDelivery.com in anuary 2013 when it made its first delivery. y March, it had received $120,000 in seed capital from YCombinator. t incorporated as DoorDash in une that year.

DoorDash was founded by Stanford students Tony u, Stanley Tang, Andy Fang and Evan Moore. Moore departed and is now a partner OWNERSHIP TENANT // GUARANTEE at Khosla Ventures. CORPORATE CORPORATE

t was reported in December 2018 that DoorDash overtook # OF LOCATIONS HEADQUARTERS - Palo Alto, California ber Eats to hold the second position in total S food delivery sales, behind GrubHub. y March 2019, it had exceeded GrubHub YEAR FOUNDED in total sales, at 27.6% of the on-demand delivery market. January 2013

y early 2019, DoorDash had become the largest third-party food delivery WEBSITE provider in the S, as measured by consumer spending. t maintained that WWW.DOORDASH.COM market position in 2020. DoorDash has raised more than $2.5 billion over several financing rounds from investors including Y Combinator, Charles River Ventures, SV Angel, Khosla Ventures, Sequoia Capital, Softank, GC, and Kleiner Perkins. As of une 2020, DoorDashs post-money valuation is slightly under $16 billion.

Sources: Wikipedia - www.en.wikipedia.org/ AKRON, OH OVERVIEW

Akron is the fifth-largest city in the U.S. state of Ohio and is the county seat of Summit County. It is located on the western edge of the Glaciated Allegheny Plateau, about 30 miles south of Cleveland.

The city was founded in 1825 by Simon Perkins and Paul Williams, along the Little Cuyahoga River at the summit of the developing Ohio and Erie Canal. The name is derived from the Greek word signifying a summit or high point. It was briefly renamed South Akron after Eliakim Crosby founded nearby North Akron in 1833, until both merged into an incorporated village in 1836. In the 1910s, Akron doubled in population, making it the nation’s fastest-growing city.

A long history of rubber and tire manufacturing, carried on today by The Goodyear Tire & Rubber Company, gave Akron the nickname “Rubber Capital of the World”. It was once known as a center of airship development. Today, its economy includes manufacturing, education, healthcare, and biomedical research; leading corporations include Gojo Industries, FirstEnergy, Huntington Bank, and Charter Spectrum.

Despite the number of rubber workers decreasing by roughly half from 2000 to 2007, Akron’s research in polymers gained an international reputation. In 2013, The Goodyear Tire & Rubber Company opened its new global headquarters on Innovation Way, further cementing the company’s relationship with the city.

Sources: Wikipedia - www.en.wikipedia.org/

Investment Sales • AnchorCleveland.com | 14 Although effort has been made to provide accurate information, neither the owner nor Anchor Cleveland can warrant or represent accuracy or completeness of the materials presented herein or in any other written or oral communications transmitted or made available to the purchaser. Many documents have been referred to in summary form and these summaries do not purport to represent or constitute a legal analysis of the contents of the applicable documents. Neither owner nor Anchor Cleveland represents that this document is all inclusive or contains all of the information a purchaser may require. All of the financial projections and/or conclusions presented herein are provided strictly for reference purposes and have been developed based upon assumptions and conditions in exact time the evaluations were undertaken. They do not purport to redact changes in the economic performance of the property or the business activities of the owner since the date of preparation of this document. The projected economic performance of the property, competitive sub-market conditions, and selected economic and demographic statistics may have changed subsequent to the preparation of the package. Qualified purchasers are urged to inspect the property and undertake their own independent evaluation of the property, the market and the surrounding competitive environment.

THANK YOU! 24500 CHAGRIN BLVD. #100 | BEACHWOOD, OH 44122 | 216-342-2523 ANCHORCLEVELAND.COM