Please fill in the tamplet using the information i will provide you in exel and calculate using the correct formula. no hard coding. please. REAL $570$

PRELIMINARY FEASIBILITY ANALYSIS$-$EQUITY

APARTMENT PROJECT DEVELOPMENT

PART A

DETERMINE THE PHYSICAL FEASIBILITY

$1.$ Goal: To provide a preliminary development plan analysis to determine whether an apartment project can be built on a specific site in accordance with regulatory requirements and leased at current rental rates in order to justify land acquisition.

$2.$ Site: $10$ acres or $435,600$ sq$.$ ft$.$

$3.$ Asking price: $$2,800,000$

$4.$ Basic project description$/$zoning:

a$.$ Setback requirement: $15\%$

b$.$ Circulation requirement: $15\%$

c$.$ Maximum units per acre: $24($based on a mix of $1-,2-$ and $3-$bedroom apartments; weighted average $=900$ sq$.$ ft$.$ per unit$)$

d$.$ Parking requirements: $1\mathrm{.}5$ spaces per unit @ $400$ sq$.$ ft$.$ per space

e$.$ Open space, berms landscape, support area: $1\mathrm{.}0$ acre $($required$)$ based on $240$ units

f$.$ Maximum building height: $2$ stories

$5.$ Physical feasibility $($in square feet$)$:

DETERMINE THE FINANCIAL FEASIBILITY

$1.$ Construction cost per unit: $$80,000$

$2.$ Gross revenue per unit after lease$-$up and stabilized assuming $$1\mathrm{.}10$psf$/$month

$3.$ Average vacancy $(5\%)$

$4.$ Operating expenses $(35\%$ of gross revenue$)$

$5.$ Determine the value based upon NOI

IS THE PROJECT A GO AT A $7\%$ RETURN? $8\%$ RETURN?

IF THE PROJECT IS NOT A GO$,$ WHAT DO YOU THINK THE DEVELOPER CAN DO$?$Physical Feasibility $($in square feet$)$

a$.$ Gross land area

Less: Setbacks

Circulation

Open space$/$support$/$other

b$.$ Area available for building development:

Less: Surface parking, $.$

c$.$ Net surface area available for building

d$.$ Proposed total footprint areas for buildings,

Excess or $($deficiency$)$ over zoning requirements

Financial Feasibility

Construction cost per unit:

Asking price for land

Tootal project cost

$3.$ Gross revenue after lease$-$up and stabilization:

Market rent:

Less:

Average vacancy $(5\%)$

Operating expenses $(35\%)$

Net operating income

$4.$ Return on total cost

$5.$ Value

a$.$ If cap rate $=$

b$.$ If cap rate $=$

a$.$ If cap rate $=$Physical Feasibility $($in square feet$)$

a$.$ Gross land area

Less: Setbacks

Circulation

Open space$/$support$/$other

b$.$ Area available for building development:

Less: Surface parking, $.$

c$.$ Net surface area available for building

d$.$ Proposed total footprint areas for buildings,

Excess or $($deficiency$)$ over zoning requirements

Financial Feasibility

Construction cost per unit:

Asking price for land

Tootal project cost

Gross revenue after lease$-$up and stabilization:

Market rent:

Less:

Average vacancy $(5\%)$

Operating expenses $(35\%)$

Net operating income

Return on total cost

Value

a$.$ If cap rate $=$

b$.$ If cap rate $=$

a$.$ If cap rate $=$

Part B

A$.$

Gross Revenue

Vacancy

Expenses

Net Operating Income

Cost

Return on cost

B$.$

Units

Cost

Building cost

Land Cost

Total Cost

Targeted Return

Required NOI

Rents

NOI

Monthly Rent:

Annual

Monthly

Units

Monthly Rental

Previous Rent

Increase