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CONSULTATION (continued) <br />I TEC~INIQUE TWO - LEASE VS. CONTRACT RENT/OWNERSHIP ANALYSLS I <br />Income Stream (Lease Scenario)- <br />Office Lease Income: 114,557 SF z 1.47/SF = $168,399 <br />Parking I.ease Income: 277 Spaces z 47.22/Space = 13.080 <br />Total Monthly Income $181,479 <br />Present Value Analysis- <br />Monthly Income Stream: x Present Value of One per Period* = Present Value <br />~181,479 x 137.9544 (7.S~O) _ $25,035,827 <br />Cost per Square Foot $218.54/SF <br />$181,479 x 153.5146 (6.34~Y) _ $27,859,676 <br />Cost per Square Foot $243.19/SF <br />Income Stream (Contract Scenario)- - _ <br />Office Contract Income: 114,557 SF x$1.30/SF = $148,924 <br />Parking Contract Income: 277 Spaces x a40/Space = $11.080 <br />'I Total Monthly Income $160,004 <br />~I Present Value Analysis- <br />I~ Monthly Income Stream: z Present Value of One per Period* = Present Value <br />a160,004 x 137.9544 (7.S~O) _ $22,073,256 <br />Less Reversion: $20,826,149 z .152539 = ~$3.176.800) <br />Total $18, 896,456 <br />Cost per Square Foot $164.95/SF <br />$160,004 z 153.5146 (6.34%) _ $24,562,950 <br />L,ess Reversion: ~20, 826,149 x .202249 = ($4.212.068 <br />Total = $20,350,882 <br />Cost per Square Foot $177.65/SF <br />* Beginning of Period Payments for 26 years <br />C98052 PALMER, GROTH & PIETKA, INC. 14 <br />