OFFERING MEMORANDUM

801 Easton Road 801 Easton RoadWillow Grove PA 19090

801 Easton RoadCONTENTS

Exclusively Marketed by:

Beau McGettiganDirector - Investments, Greater Philadelphia(917) 819-2811Lic: RS329721bmack@kwcommercial.com

We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or otherconditions, prior sale, lease or financing, or withdrawal without notice.  We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct yourown investigation of the property and transaction.

728 S Broad StreetPhiladelphia, PA 19146

01 Executive Summary Investment Summary 4 Location Summary 5

02 Property Description Property Features 7

03 Rent Roll Rent Roll Details 9 Lease Expiration 10

04 Financial Analysis Income & Expense Analysis 12 Cash Flow Analysis 13

05 Demographics Demographics 16 Demographic Charts 17

801 Easton Road | Executive Sum

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Executive Summary

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Investment Summary

Location Summary

801 Easton Road Investment Summary | 04

OFFERING SUMMARYADDRESS 801 Easton Road

Willow Grove PA 19090COUNTY Montgomery CountyMARKET PhiladelphiaSUBMARKET Suburban PhiladelphiaNET RENTABLE AREA (SF) 10,000LAND SF 30,056 SFYEAR BUILT 1970YEAR RENOVATED 2018APN 59-00-05554-003OWNERSHIP TYPE Fee Simple

FINANCIAL SUMMARYOFFERING PRICE $1,900,000PRICE PSF $190.00NOI (CURRENT) $95,249CAP RATE (CURRENT) 5.01 %CAP RATE (PRO FORMA) 7.29 %

PROPOSED FINANCINGLOAN TYPEDOWN PAYMENT $475,000LOAN AMOUNT $1,425,000INTEREST RATE 4.50 %ANNUAL DEBT SERVICE $95,042LOAN TO VALUE 75 %

DEMOGRAPHICS 1 MILE 3 MILE 5 MILE2019 Population 12,248 86,805 217,5982019 Median HH Income $67,879 $80,814 $86,3902019 Average HH Income $85,956 $108,779 $116,892

CCL Commercial is proud to present on behalf of ownership 801 EastonRoad located in Willow Grove, PA. The property consists of 10,000rsfproperty that is currently 70% occupied. Major tenants include AdvancedSmile Design Dentistry Practice, My Implant XP, BPS Communications,Red Notary Tags & Multiservice, TriMED Healthcare, WAC Productions,and Tax-Act Solutions. Currently, a 3,000sf space that was recentlyvacated by a long-time printing tenant (20+ years) is under negotiation forlease. The vacancy allows several options including increasing rents tomarket rate or an opportunity for an end-user to pay themselves rent whilecollecting additional cashflow.

A majority of the expenses currently pass through to the tenants in theform of monthly CAM charges, offsetting many of the expenses forownership.

801 Easton Road Location Summary | 05

Willow Grove's history spans nearly three centuries.Following a land grant established by William Penn, knownas the Manor of Moreland, the first home was built in 1719.The colonial farmstead slowly grew into a small ruralcommunity. By the mid-19th century, Willow Grove servedas a summer vacation retreat for Philadelphia residents.

The property is located at 801 Easton Road, Willow Grove,Pennsylvania. Willow Grove is located in MontgomeryCounty, Pennsylvania and is located just 12 miles north ofthe City of Philadelphia.

The area surrounding the subject property boasts a varietyof national tenants including Wawa, Giant Food Stores, Aldi,KFC, Burger King and the third most profitable mall in thePhiladelphia area, the Willow Grove Park Mall.

Located 2.5 miles from the property is Abington Hospital aJefferson Health facility. Abington Hospital is a 665 bedhospital with over 5,500 employees and 1,100 physicians.

Penn State has a local campus, Penn State Abington, withan estimated 4,000 students currently enrolled.

Downtown Willow Grove is a place that has evolved manytimes over the last three centuries, from a colonial farmsteadto a small rural community to a world-renownedentertainment destination to a regional suburban shoppingcenter. Willow Grove is located just 12 miles North ofPhiladelphia, the largest city in the Commonwealth ofPennsylvania and the sixth most populous city in the UnitedStates. Philadelphia's history attracts many tourists, visitedby over 39 million people each year, it generates roughly$10 billion in economic impact.

Regional Map

Locator Map

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Property Description

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Property Features

Aerial Map

Parcel Map

Stacking Plan

Additional Maps

Property Images

801 Easton Road Property Features | 07

PROPERTY FEATURESNUMBER OF TENANTS 7NET RENTABLE AREA (SF) 10,000LAND SF 30,056LAND ACRES .37YEAR BUILT 1970YEAR RENOVATED 2018# OF PARCELS 1ZONING TYPE OBUILDING CLASS BLOCATION CLASS ANUMBER OF STORIES 1NUMBER OF BUILDINGS 1NUMBER OF PARKING SPACES 26BUILDING FAR .37TRAFFIC COUNTS 27336NUMBER OF INGRESSES 1NUMBER OF EGRESSES 1ADA COMPLIANT YELEVATOR NSUBTERRANEAN PARKING N

MECHANICALHVAC Central Air / HeatELECTRICAL / POWER PECO

801 Easton Road | R

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Rent Roll

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Rent Roll Details

Lease Expiration Summary

Tenant Profile

801 Easton Road Rent Roll Details | 09

Lease Term Rental RatesSuite Tenant Name Square Feet % of NRA Lease Start Lease End Begin Date Monthly Base

RentMonthly PSF Annual Base

RentAnnual PSF CAM Fee

(Annual)Lease Type Options/Notes

1 Tax-Acct Solutions 1,000 10.00% 01/01/00 02/29/20 CURRENT $1,150 $1.15 $13,800 $13.80 $3,030.00 MG March 2021 ($14,400), 2022($15,000), 2023 ($16,200), 2024($17,700), 2025 ($18,900)

2 VACANT 1,000 10.00% 01/01/00 FUTURE MG3/4 VACANT 2,000 20.00% 01/01/00 FUTURE

5 Tri-Med 1,000 10.00% 01/01/00 11/14/22 CURRENT $1,055 $1.05 $12,656 $12.66 $3,030.00 MG Nov 2020 (3% Increase), Nov 2021(2% Increase)

6 RED Notary & Tags 1,000 10.00% 02/01/16 01/31/21 CURRENT $1,097 $1.10 $13,161 $13.16 $3,030.00 MG

7 WAC Productions 1,000 10.00% 03/01/20 02/28/23 CURRENT $1,083 $1.08 $13,000 $13.00 $3,030.00 MG March 2021 (3% Increase), 2022(3% Increase)

8 My Implant XP 1,000 10.00% 01/01/00 04/01/24 CURRENT $1,083 $1.08 $12,996 $13.00 $3,030.00 MG April 2020 (3% Increase), 2021 (3%Increase), 2022 (3% Increase),2023 (3% Increase)

9/10 Advanced Smile Design 2,000 20.00% 01/01/00 01/01/24 CURRENT $3,502 $1.75 $42,024 $21.01 Gross Jan 2021 (3% Increase), 2022 (3%Increase), 2023 (3% Increase)

Totals 10,000 $8,970 $107,637 $15,150.00

801 Easton Road Lease Expiration | 10

801 Easton Road | Financial A

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Financial Analysis

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Income & Expense

Multiyear Cash Flow Projections

801 Easton Road Income & Expense Analysis | 12

INCOME CURRENT PRO FORMA

Gross Potential Rent $107,637 $146,637

CAM Revenue $19,800 $27,720

TI Reimbursement $660

TI Reimbursement $415

Effective Gross Income $128,512 $174,357

Less: Expenses $33,263 $35,753

Net Operating Income $95,249 $138,604

EXPENSES CURRENT PRO FORMA

Real Estate Taxes $21,911 $21,911

Insurance $1,799 $1,799

Repairs & Maintenance $5,085 $7,575

Water / Sewer $1,336 $1,336

Landscaping $370 $370

Electric $170 $170

Sewer $467 $467

Trash $2,125 $2,125

Total Operating Expense $33,263 $35,753

Reserves $2,500 $2,500

Annual Debt Service $95,042 $95,042

Expense / SF $3.32 $3.57

% of EGI 25.88 % 20.51 %

REVENUE ALLOCATION

DISTRIBUTION OF EXPENSES

801 Easton Road Cash Flow Analysis | 13

CASH FLOWCalendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Gross Potential RevenueGross Rental Income $107,637 $146,637 $151,036 $155,567 $160,234 $165,041 $169,992 $175,092 $180,345 $185,755CAM Revenue $19,800 $27,720 $27,997 $28,277 $28,560 $28,846 $29,134 $29,425 $29,720 $30,017TI Reimbursement $660 $0 $0 $0 $0 $0 $0 $0 $0 $0TI Reimbursement $415 $0 $0 $0 $0 $0 $0 $0 $0 $0Gross Potential Income $128,512 $174,357 $179,033 $183,844 $188,794 $193,887 $199,126 $204,518 $210,065 $215,772Effective Gross Income $128,512 $174,357 $179,033 $183,844 $188,794 $193,887 $199,126 $204,518 $210,065 $215,772Operating ExpensesReal Estate Taxes $21,911 $21,911 $22,130 $22,351 $22,575 $22,801 $23,029 $23,259 $23,492 $23,726Insurance $1,799 $1,799 $1,808 $1,817 $1,826 $1,835 $1,844 $1,854 $1,863 $1,872Repairs & Maintenance $5,085 $7,575 $7,636 $7,697 $7,758 $7,820 $7,883 $7,946 $8,010 $8,074Water / Sewer $1,336 $1,336 $1,343 $1,349 $1,356 $1,363 $1,370 $1,377 $1,383 $1,390Landscaping $370 $370 $372 $374 $376 $377 $379 $381 $383 $385Electric $170 $170 $171 $172 $173 $173 $174 $175 $176 $177Sewer $467 $467 $469 $472 $474 $476 $479 $481 $484 $486Trash $2,125 $2,125 $2,136 $2,146 $2,157 $2,168 $2,179 $2,190 $2,201 $2,212Total Operating Expense $33,263 $35,753 $36,064 $36,378 $36,695 $37,014 $37,337 $37,662 $37,991 $38,322Net Operating Income $95,249 $138,604 $142,969 $147,466 $152,099 $156,872 $161,790 $166,855 $172,074 $177,450Reserves $2,500 $2,500 $2,513 $2,525 $2,538 $2,550 $2,563 $2,576 $2,589 $2,602Annual Debt Service $95,042 $95,042 $95,042 $95,042 $95,042 $95,042 $95,042 $95,042 $95,042 $95,042Cash Flow ($2,293) $41,062 $45,415 $49,899 $54,520 $59,280 $64,184 $69,237 $74,443 $79,806

Effective Gross Income vs Operating Expenses Cash Flow

801 Easton Road Cash Flow Analysis | 14

Calendar Year CURRENT Pro Forma Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10Financial MetricsCash on Cash Return b/t -0.48 % 8.64 % 9.56 % 10.51 % 11.48 % 12.48 % 13.51 % 14.58 % 15.67 % 16.80 %CAP Rate 5.01 % 7.29 % 7.52 % 7.76 % 8.01 % 8.26 % 8.52 % 8.78 % 9.06 % 9.34 %Debt Coverage Ratio 1.00 1.46 1.50 1.55 1.60 1.65 1.70 1.76 1.81 1.87Operating Expense Ratio 25.88 % 20.50 % 20.14 % 19.78 % 19.43 % 19.09 % 18.75 % 18.41 % 18.08 % 17.76 %Gross Multiplier (GRM) 14.78 10.90 10.61 10.33 10.06 9.80 9.54 9.29 9.04 8.81Loan to Value 74.95 % 74.95 % 74.95 % 74.99 % 75.04 % 75.03 % 75.04 % 74.98 % 75.03 % 75.00 %Breakeven Ratio 99.84 % 75.02 % 73.23 % 71.48 % 69.78 % 68.11 % 66.48 % 64.89 % 63.33 % 61.81 %Price / SF $190.00 $190.00 $190.00 $190.00 $190.00 $190.00 $190.00 $190.00 $190.00 $190.00Income / SF $12.85 $17.43 $17.90 $18.38 $18.87 $19.38 $19.91 $20.45 $21.00 $21.57Expense / SF $3.32 $3.57 $3.60 $3.63 $3.66 $3.70 $3.73 $3.76 $3.79 $3.83

801 Easton Road | D

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Demographics

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Demographic Details

Demographic Charts

801 Easton Road Demographics | 16

POPULATION 1 MILE 3 MILE 5 MILE

2000 Population 12,691 86,436 210,198

2010 Population 12,143 84,359 211,440

2019 Population 12,248 86,805 217,598

2024 Population 12,683 88,551 221,514

2019 African American 1,552 9,080 17,685

2019 American Indian 39 169 349

2019 Asian 777 5,256 13,551

2019 Hispanic 597 4,626 11,020

2019 White 9,302 68,440 176,894

2019 Other Race 185 1,495 3,913

2019 Multiracial 389 2,324 5,097

2019-2024: Population: Growth Rate 3.50 % 2.00 % 1.80 %

2019 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE

less than $15,000 274 1,595 4,503

$15,000-$24,999 478 1,987 5,230

$25,000-$34,999 413 2,491 5,631

$35,000-$49,999 505 3,142 7,541

$50,000-$74,999 1,104 6,384 13,504

$75,000-$99,999 729 4,562 10,583

$100,000-$149,999 936 6,887 16,574

$150,000-$199,999 409 3,216 9,631

$200,000 or greater 234 3,560 10,690

Median HH Income $67,879 $80,814 $86,390

Average HH Income $85,956 $108,779 $116,892

HOUSEHOLDS 1 MILE 3 MILE 5 MILE

2000 Total Housing 5,272 34,262 82,152

2010 Total Households 5,073 33,076 81,842

2019 Total Households 5,082 33,823 83,886

2024 Total Households 5,229 34,392 85,282

2019 Average Household Size 2.36 2.55 2.55

2000 Owner Occupied Housing 3,192 24,378 60,562

2000 Renter Occupied Housing 1,908 9,013 19,497

2019 Owner Occupied Housing 3,011 23,870 61,011

2019 Renter Occupied Housing 2,070 9,953 22,875

2019 Vacant Housing 298 1,784 3,946

2019 Total Housing 5,380 35,607 87,832

2024 Owner Occupied Housing 3,030 24,030 61,529

2024 Renter Occupied Housing 2,199 10,361 23,753

2024 Vacant Housing 317 1,869 4,182

2024 Total Housing 5,546 36,261 89,464

2019-2024: Households: Growth Rate 2.85 % 1.65 % 1.65 %

Source: esri

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1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Household Income

1 Mile Radius 3 Mile Radius 5 Mile Radius

2019 Population by Race

801 Easton Road Demographic Charts | 18

2019 Household Occupancy - 1 Mile Radius

Average Income Median Income

2019 Household Income Average and Median

801 Easton Road

CONFIDENTIALITY and DISCLAIMERThe information contained in the following offering memorandum is proprietary and strictly confidential. It isintended to be reviewed only by the party receiving it from CCL Commercial / KW Philly and it should not bemade available to any other person or entity without the written consent of CCL Commercial / KW Philly.

By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat allsuch information in the strictest confidence. The recipient further agrees that recipient will not photocopy orduplicate any part of the offering memorandum. If you have no interest in the subject property, please promptlyreturn this offering memorandum to CCL Commercial / KW Philly. This offering memorandum has beenprepared to provide summary, unverified financial and physical information to prospective purchasers, and toestablish only a preliminary level of interest in the subject property.

The information contained herein is not a substitute for a thorough due diligence investigation. CCL Commercial/ KW Philly has not made any investigation, and makes no warranty or representation with respect to theincome or expenses for the subject property, the future projected financial performance of the property, the sizeand square footage of the property and improvements, the presence or absence of contaminating substances,PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of theimprovements thereon, or financial condition or business prospects of any tenant, or any tenant’s plans orintentions to continue its occupancy of the subject property.

The information contained in this offering memorandum has been obtained from sources we believe reliable;however, CCL Commercial / KW Philly has not verified, and will not verify, any of the information containedherein, nor has CCL Commercial / KW Philly conducted any investigation regarding these matters and makesno 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. Prospectivebuyers shall be responsible for their costs and expenses of investigating the subject property.

Exclusively Marketed by:

Beau McGettiganDirector - Investments, Greater Philadelphia(917) 819-2811Lic: RS329721bmack@kwcommercial.com

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