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LAKELAND OFFICE PRODUCTS 53 S Washington St • Oxford, MI 48371 1 NON- ENDORSEMENT and DISCLAIMER NOTICE

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LAKELAND OFFICE PRODUCTS 53 S Washington St • Oxford, MI 48371 1 NON- ENDORSEMENT and DISCLAIMER NOTICE Offering Memorandum LAKELAND OFFICE PRODUCTS 53 S Washington St • Oxford, MI 48371 1 NON- ENDORSEMENT AND DISCLAIMER NOTICE Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved. Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. LAKELAND OFFICE PRODUCTS Oxford, MI ACT ID Z0290159 2 LAKELAND OFFICE PRODUCTS TABLE OF CONTENTS INVESTMENT OVERVIEW 01 Offering Summary Regional Map Local Map Aerial Photo FINANCIAL ANALYSIS 02 Tenant Summary Lease Expiration Chart Operating Statement Pricing Detail MARKET COMPARABLES 03 Sales Comparables Comparable Shopping Centers MARKET OVERVIEW 04 Market Analysis Demographic Analysis 3 LAKELAND OFFICE PRODUCTS INVESTMENT OVERVIEW 4 LAKELAND OFFICE PRODUCTS PROPERTY OVERVIEW PROPERTY OVERVIEW Marcus & Millichap is pleased to present Lakeland Office Products in Oxford, Michigan. The property is approximately 5,000-square- feet and is fully occupied by various tenants. Located off of South Washington right in the heart of downtown Oxford, the location is a great investment opportunity, with excellent visibility and exposure. The Village of Oxford is one square mile within the Township of Oxford and includes the Central Business District. M-24, which bisects Oxford, is an important north-south corridor providing direct access to I-69 linking Flint and Port Huron. It is also linked to I- 75 with its amazing connections throughout Metro Detroit and the state, placing Oxford at an excellent juncture. The Village of Oxford is located 9 miles north of The Palace of Auburn Hills. For over 130 years Oxford has been developing character: the village maintains a small town look even with the addition of modern amenities. Topnotch schools and a new, state-of-the-art public library attests to the modern status of this area. The downtown offers an array of unique shops, restaurants, a 7-screen movie theater, and business services. In 2006 and 2007, Oxford became a Oakland County Main Street Community. Downtown Oxford is also host to many wonderful events that are sure to please. Festivals such as Stew Stroll in February, Celebrate Oxford in August, and the Scarecrow Festival in the fall help to define the quality of life in Oxford. PROPERTY OVERVIEW . Excellent Exposure and Visibility on Washington Street . Located in the Heart of Downtown Oxford . Fully Leased to Multiple Tenants . More than 36,000 Cars per Day on Washington Street 5 LAKELAND OFFICE PRODUCTS PROPERTY OVERVIEW PROPERTY PHOTOS 6 LAKELAND OFFICE PRODUCTS REGIONAL MAP 7 LAKELAND OFFICE PRODUCTS LOCAL MAP 8 LAKELAND OFFICE PRODUCTS AERIAL PHOTO 9 LAKELAND OFFICE PRODUCTS FINANCIAL ANALYSIS 10 LAKELAND OFFICE PRODUCTS FINANCIAL ANALYSIS TENANT SUMMARY *Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases: Base Rent for Brain Balance: $3,695 + CAM Base Rent for Juice Bar $1,300 + CAM 11 LAKELAND OFFICE PRODUCTS FINANCIAL ANALYSIS OPERATING STATEMENT *Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases: Brain Balance- 10/1/2018 $3,880 + CAM 10/1/2019 $4,065 + CAM Juice Bar- 12/1/2018 $1,340.00 + CAM 12/1/2019 $1,380 + CAM 12 LAKELAND OFFICE PRODUCTS FINANCIAL ANALYSIS PRICING DETAIL *Schedule Rent Income includes base rent and CAM reimbursements. Base Rent Increases: Brain Balance- 10/1/2018 $3,880 + CAM 10/1/2019 $4,065 + CAM Juice Bar- 12/1/2018 $1,340 + CAM 12/1/2019 $1,380 + CAM 13 LAKELAND OFFICE PRODUCTS TENANT PROFILE Brain Balance Michigan Eye Institute General Information General Information Tenant Name Brain Balance Tenant Name Michigan Eye Institute Website https://www.brainbalancecenters.com Website https://mieye.com/ Rentable Square Feet 2,351 SF Headquartered Flint, Michigan Percentage of RBA 47.00% Rentable Square Feet 1,665 SF Lease Commencement 8/1/2005 Percentage of RBA 33.00% Lease Expiration 9/30/2020 Lease Commencement 5/26/2006 No. of Locations 130 Lease Expiration 9/30/2019 No. of Locations 5 27 Years in Business 1214 LAKELAND OFFICE PRODUCTS ACQUISITION FINANCING MARCUS & MILLICHAP CAPITAL CORPORATION WHY MMCC? CAPABILITIES Optimum financing solutions to enhance value MMCC—our fully integrated, dedicated financing arm—is committed to providing superior capital market expertise, precisely managed execution, and unparalleled access to capital sources providing the most competitive rates and Our ability to enhance terms. buyer pool by expanding finance options We leverage our prominent capital market relationships with commercial banks, life insurance companies, CMBS, private and public debt/equity funds, Fannie Mae, Freddie Mac and HUD to provide our clients with the greatest range of Our ability to enhance financing options. seller control Through buyer Our dedicated, knowledgeable experts understand the challenges of financing • qualification support and work tirelessly to resolve all potential issues to the benefit of our clients. • Our ability to manage buyers finance expectations • Ability to monitor and manage buyer/lender progress, insuring timely, predictable closings • By relying on a world class Closed 1,651 National platform $5.1 billion Access to set of debt/equity sources debt and equity operating total national more capital financings within the firm’s volume in 2016 sources than and presenting a tightly in 2016 brokerage any other firm underwritten credit file offices in the industry 15 LAKELAND OFFICE PRODUCTS MARKET COMPARABLES 16 LAKELAND OFFICE PRODUCTS SALES COMPARABLES MAP LAKELAND OFFICE PRODUCTS (SUBJECT) 1 Grand Blanc Plaza 2 Marketplace Court The Auburn Mile Shopping 3 Center 4 12 S Main St SALES COMPARABLES 17 PROPERTYLAKELAND OFFICENAME PRODUCTS SALES COMPARABLES SALES COMPARABLES SALES COMPS AVG Average Price Per Square Foot $400.00 $360.00 $320.00 $280.00 Avg. $255.52 $240.00 $200.00 $160.00 $120.00 $80.00 $40.00 $0.00 Lakeland Grand Blanc Marketplace The Auburn 12 S Main Confidential Office Plaza Court Mile St Medical Products Shopping Center 18 PROPERTYLAKELAND OFFICENAME PRODUCTS SALESMARKETING COMPARABLES TEAM SALES COMPARABLES GRAND BLANC PLAZA MARKETPLACE COURT LAKELAND OFFICE PRODUCTS 12500 South Saginaw Street, Grand Blanc, MI, 48439 35724 Van Dyke Avenue, Sterling Heights, MI, 48312 53 S Washington St, Oxford, MI, 48371 1 2 rentpropertyname1 rentpropertyname1 rentpropertyname1 Tenants Lease Type Tenants Lease Type Tenants Lease Type Close Of Close Of Asking Price: $1,125,000 10/13/2017 8/24/2017 Escrow: Escrow: Price/SF: $225.23 Days On Days On 190 155 CAP Rate: 7.99% Market: Market: Sales Price: $975,000 Sales Price: $3,275,000 Year Built: 1999 Price/SF: $319.36 Price/SF: $155.83 CAP Rate: 8.80% CAP Rate: 9.50% Year Built: 1980 Year Built: 1994 rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF rentpropertyaddress1Annual Per SF Income $111,338 $22.29 Expenses $33,730 $11.05 Expenses $119,443 $5.68 Expenses $21,397 $4.28 NOI $89,941 $18.01 Occupancy 100.0% 19 PROPERTYLAKELAND OFFICENAME PRODUCTS SALESMARKETING COMPARABLES TEAM SALES COMPARABLES THE AUBURN MILE SHOPPING CENTER 12 S MAIN ST CONFIDENTIAL MEDICAL 750 Brown Rd, Auburn Hills, MI, 48326 12 S Main St, Clarkston, MI, 48346 Confidential
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