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^ SCENARIO 1 - ASSUMPTIONS ^ <br />Building Construction: Single story, average to good quality construction, built over one <br />basement level of parking. Parking level will be concrete and <br />accessible via elevator and stairwells. <br />Building Size: 12,790 square feet of Gross Building Area~ (GBA). <br />12,000 square feet of Net Rentable Area8 (NRA). <br />Building Use: 12,000 square feet of ground floor retail. <br />Parking: 24 - Based on two spaces per 1,000 square feet of NRA. <br />Remaining 32 spaces to be leased using the parking assumptions <br />found on page 40. <br />Income Analysis: Rent is estimated at ~1.35/SF on a triple net basis. Expenses to the <br />landlord include only management at 3°b of effective gross <br />income9 and structural repairs at 2~ of effective gross income. <br />Net operating income'~ is capitalized at 9.50~. <br />Cost Analysis: Base cost per square foot of $80.00 based on local cost <br />comparables and the Marshal Valuation Service. Improvement <br />costs. Absorption costs include 5~ leasing commissions ($47,000) <br />and rent loss ($93,000). <br />P99239 PALMER, GROTH 8~ PIEfKA, INC. 24 <br />