Find min. rent rate of storage units for a 7% cap rate DEVELOPMENT PROFORMA DATE LOCATION SITE COSTS HAZ MAT ABATEMENT UTILITY DISCONECT DEMOLITION GRADING/UTILITY/SITEWORK SANITARY SEWER WATER STORM SEWER GAS PHONE ELECTRIC SITE LIGHTING SITE CONCRETE Acre Unit BUILDING COSTS UNIT A-12 Units 1,106sf ea UNIT B UNIT C UNIT DI UNITE UNIT F TOTAL FT2 1.58 250,000.00 FT2 LANDSCAPING SEEDING PAVING SITE CONCRETE SITE IRRIGATION STRIPING ROCK ENTRY ROAD TRAFFIC LIGHT ROAD WIDENING PYLON SIGN LUMP SUM TOTAL SITE COST PRICE/FI2 13,277 3,750 11,003 4,590 13,987 8,967 55,574 TOTAL BLD COST 145 145 145 145 145 145 Unit 100,000.00 inc. in sitework 350,000 PRICE 1.925,165.00 543,750.00 1,595,435.00 665.550.00 2.028.115.00 1,300,215.00 8,058,230 HARD COSTS SITE COSTS BUILDING COSTS TOTAL HARD COSTS SOFT COSTS PROPERTY SURVEY TOPOLOGICAL SURVEY ARCHITECTURAL/MEP PERFORMANCE BOND SOIL TESTING PHASE I TRAFFIC STUDY CIVIL ENGINEERING ASBESTOS REPORT TRAFFIC IMPACT FEE TAP FEES SEWER IMPACT FEE ESCROWS ( BUILDERS RISK INS. TRANSFER TAX DEVELOPMENT COSTS DEV MANAGEMENT CONST MANAGEMENT TOTAL DEV COSTS COSTS SUMMARY TOTAL HARD COSTS SOFT COSTS CONTINGENCY DEVELOP COSTS TOTAL COSTS 0% 2% 25% 5.00% 350,000 8,058,230 8,408,230,00 1,750 168,164.6 0 2.500 7,500 0 87,500 0 0 0 0 COMMISSION ON Sale 0 0 0 8,408,230 934,450.474 467,134.024 0 MISC FEES: As builts HOUSING FEE CONST INTEREST *** MORT. LOAN POINTS LEGAL ACCOUNTING TITLE INSURANCE CONST. TESTING APPRAISAL BUILDING PERMIT 9,809,814.50 11,209,814.50 TAXES DURING CON TENANT ALLOWANCE COMMISSIONS-Lease x10 TOTAL SOFT COSTS 6.00% 4.00% 0 0 0 0 0 0 0 0 0 0 0520psf for remaining 183,891.6 483,144.274 IMPACT FEES Use 2,000 Bank 53.574 Retail 934.450.474 /1,000 SF 15,962.04 8,337.24 RENTAL INCOME UNIT A-12 Units 1.106sf ca. UNIT B UNIT C UNIT D UNITE UNIT F TOTAL FT2 LAND VALUE VALUE AT CAP RATE HARD COSTS SOFT COSTS DEVELOPMENT COSTS CONTINGENCY LAND COST DEVELOPERS PROFIT RETURN ON COST 7.00% 8% FT2 13,277 3,750 11,003 4,590 13,987 8,967 55,574 GROSS RENT VACANCY MANAGEMENT 12.078.606.857 -8,408,230 -934,450.474 0.00% -467,134.024 RENT/FT2 868,792.359 RESERVE NOI PER ACRE -1,400,000 $47.26/s 18.00 18.00 18.00 18.00 VALUE AT CAP RATE 18.00 18.00 2.00% 10.00% 5.00% 6.00% 7.00% 8.00% ACRES 1.58 ANNUAL RENT 238,986.00 2,389,860.00 67,500.00 675,000.00 198,054.00 1,980,540.00 82,620.00 826,200.00 251,766.00 2,517,660.00 161,406.00 3,064,860.00 1,000,332 (4,780) (100,033) (50,017) 845,502.48 14,091,708.00 12,078,606.86 10,568,781.00 -1,106.50 19,917.00 1,659.75