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<br />CONST'RUCTION ~COST
<br />ANALYSIS OF RETAIL SPACE
<br />Hard Cost:
<br />Private Space: 13,000 @ ~80.00: ~1,040,000 ' -
<br />Pezmits F~ SDC:
<br />Sub Total: ~1,060,540
<br />~ So~t Cost:
<br /> . Arc~itect Fees ~a 6%:
<br /> Appraisal I.ender
<br />~ Construction Interest: 60% L,/C
<br /> Construction Insurance
<br />~ Project Mgm. ~a j%
<br />l
<br /> Lega
<br />Fees:
<br /> Leasi.n~ Fees:
<br />~ Lease Up/Reserves:
<br /> Loan Fees ~a 3%:
<br /> Sub Total:
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<br />~)
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<br />Hard F~ So~t Cost:
<br />Contin~ency 8% So{t Cost:
<br />Total Retail Cost:
<br />Rounded:
<br />Total Project Cost:
<br />$ 63,630
<br />~ 10,000
<br />~ 133,000
<br />~ 4,000
<br />~ 53,000
<br />~ 25,000
<br />~ 100,000
<br />~ 12~,000
<br />(~1,200,000 / 70%)
<br />~ 549,630
<br />~1,61U,170
<br />~1,738,983
<br />~ 1, Z39,000
<br />Hard Cost: ~1,060,540
<br />So{t Cost:
<br />To~l Co~: ~1,739,000
<br />Equity Req.
<br />Loan Balance: ~1,217,300
<br />Rounded
<br />(30%)
<br /> ual Debt Service: @ 8.5% / 25 yrs. @ 9.j% / 25 yrs.
<br />~ $117,624 ~127,b26
<br /> Gross Sc~. Income: @ ~24.00 ~312,000 @ ~19.50 ~2~3,500
<br />~ I.ess: Vacancy ~a j% ~ 15,600 ~ I2,675
<br /> E{~ective Income: ~296,~00 ~2~0,825
<br /> Less: Expenses @,~.80 GSF ~ 62,400 ~ 62,400
<br />~ Less: Par~xing 46 stalls @~50.00 ,~2 ,~600 ~ 27~600
<br /> Net Opert. Income: ~206,~00 ~1j0,825
<br /> Annual Debt: 626
<br />~127 ~127
<br />626
<br />~ Annual Cas~ Flaav: ,
<br />,~ 78,774 ,
<br />~ 23,199
<br /> Cas~ on Cas~ Return: 15% 4.4%
<br />~ I~'o land lease has been included in Eapenses.
<br />, I~'o return to CPMgm. ~or 10% owners~ip.
<br />/ ~ pa~e 8 / Construction C'oet
<br />~ DAN BERItEY, P.C., BROKER
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