School, Church, Office, Medical Sale/Lease

Investment Overview

$1.99M. Zoning for schools, live/work, multi-family development, medical office, lab. Projection for 100% vacant building. Revenues and expenses subject to change. Pre-Sale Rent (Tenant Perspective): ($3.25/sf NNN + $0.48/sf CAMs) x 3,456 sf = $12,890.88 Gross Rent Per Month + $1,411.66 Per Month Tenant-Paid Utilities $14,302.54 Total Per Month For Tenant Pre-Sale Gross Revenue (Investor Perspective: Base Rent $3.25/sf NNN x 3,456 sf = $11,232 base rent with 3% typical annual increases x 12 = Base Rent $134,784 / yr* Presale CAM $0.48 CAMs x 3,456 sf = $1,658.88 CAMs per month x 12 = $19,906.56 / yr $12,890.88 Gross Revenue per Month x 12 months = $154,690.56 / yr *No credit risk is added to base rent, but some analysts use a 5% credit/vacancy factor to reduce the rent revenue. Current NNN Expenses: Current Property Tax = $14,146 / yr Property Insurance = $3,262 / yr Landlord-Paid, Tenant-Reimbursed Utilities and Maintenance = $2,400 / yr o landscape: $2,400 Current Total NNN Expenses = $14,146 + $3,262 + $2,400 = $19,808 / yr Current NNN Expenses / sf = ($19,788 / 12 / 3,456 sf = $0.48/sf/month current CAMs). Tenant-paid Utilities and Maintenance = $16,940 / yr o cleaning expense: $7,800 /yr o water/sewer: $1,000 /yr o trash: $1,200 /yr o gas & electric: $6,300 /yr o security (alarm): $640 /yr $1,411.66 / mo Post Sale NNN Expenses Post-Sale Property Tax = 1.1201% x $1,999,999 = $22,401.99 + $1,445.76 = $26,087.96 / yr Post-Sale Total Expenses = $22,401.99 (Property Tax) + $3,262 (Property Insurance) + $2,400 (Property Maintenance) = $29,509.75 / yr ($29,509.75 / 12 / 3,456 sf = $0.71/sf/month current CAMs). Current Proforma NOI @ $3.25/sf NNN = $134,784 / yr Post-Sale Proforma NOI @ $3.25/sf NNN = $134,784 / yr Asking Price = $1,999,999 Current & Post-Sale Cap = 6.7%