Solve for NOI, Net Income after reserves in excel
Maxwell Plaza 6,900,000.00 11.00% General data: Price Required return (unlevered) Property type Rentable SF Number of tenants 11% Office 32,000 32,000.00 Lease renewal: Renewal probability Months vacant Lease term Tenant improvements - New Tenant improvements - Renewal Leasing commisions - New Leasing commisions - Renewal Reserves 80% 5 months 5 years $10/sf $5/sf 20% of base rent in initial year 10% of base rent in initial year 0.30/sf 80.00%! 5.00 5.00 10.00 Inflation 5.00 20.00% 10.00% 0.30 Inflation Market and economic data: Market rent Market inflation Expense/general inflation 22.00/SF 3% 3% 22.00 3.00% 3.00% Disposition: Market capitalization rate Sale commissions Legal 6.50% 2% of sale price 6.50% 2.00% 25,750 14,500 21.28/sf 2.50% 5.00/sf 3 years 14,500.00 21.28 2.50% 6.50 Mortgage financing: Principal amount borrowed Interest rate Amortization period $4.4M 5.75% 30 years 4,400,000.00 5.75% 30.00 5.00 Income: Squll Pharmaceuticals SF Rent (as of 1/2020) Rent escalation Expense stop Remaining lease term Note: 100% renew at Market Rent Trepanation Inst. SF Rent (as of 1/2020) Rent escalation Expense stop Remaining lease term Phibes Medical Group SF Base rent Rent escalation Expense stop Remaining lease term Maturity Payment frequency Origination fee 5 years Annual 1.5% of initial balance 1.50% 9,500 20.46/sf 2.50% 4.50/sf 2 years 9,500.00 20.46 2.50% 6.00 8,000 21.00 2.50% TBD 5 years 8,000.00 21.00 2.50% Ancillary Parking, 90.000/yr 90,000.00 Inflation Reimbursements Base stop .95/sf, 2.40/sf, 25% fixed Operating expenses: CAM Janitorial % fixed Real estate taxes Insurance Repairs & Maintenance Management (Non-reimbursable) 0.95 2.40 Inflation 0.25 85,000.00 Inflation 29,500.00 Inflation 26,280.00 Inflation 85,000 29,500 26,280 2% of EGI 2% Maxwell Plaza 6,900,000.00 11.00% General data: Price Required return (unlevered) Property type Rentable SF Number of tenants 11% Office 32,000 32,000.00 Lease renewal: Renewal probability Months vacant Lease term Tenant improvements - New Tenant improvements - Renewal Leasing commisions - New Leasing commisions - Renewal Reserves 80% 5 months 5 years $10/sf $5/sf 20% of base rent in initial year 10% of base rent in initial year 0.30/sf 80.00%! 5.00 5.00 10.00 Inflation 5.00 20.00% 10.00% 0.30 Inflation Market and economic data: Market rent Market inflation Expense/general inflation 22.00/SF 3% 3% 22.00 3.00% 3.00% Disposition: Market capitalization rate Sale commissions Legal 6.50% 2% of sale price 6.50% 2.00% 25,750 14,500 21.28/sf 2.50% 5.00/sf 3 years 14,500.00 21.28 2.50% 6.50 Mortgage financing: Principal amount borrowed Interest rate Amortization period $4.4M 5.75% 30 years 4,400,000.00 5.75% 30.00 5.00 Income: Squll Pharmaceuticals SF Rent (as of 1/2020) Rent escalation Expense stop Remaining lease term Note: 100% renew at Market Rent Trepanation Inst. SF Rent (as of 1/2020) Rent escalation Expense stop Remaining lease term Phibes Medical Group SF Base rent Rent escalation Expense stop Remaining lease term Maturity Payment frequency Origination fee 5 years Annual 1.5% of initial balance 1.50% 9,500 20.46/sf 2.50% 4.50/sf 2 years 9,500.00 20.46 2.50% 6.00 8,000 21.00 2.50% TBD 5 years 8,000.00 21.00 2.50% Ancillary Parking, 90.000/yr 90,000.00 Inflation Reimbursements Base stop .95/sf, 2.40/sf, 25% fixed Operating expenses: CAM Janitorial % fixed Real estate taxes Insurance Repairs & Maintenance Management (Non-reimbursable) 0.95 2.40 Inflation 0.25 85,000.00 Inflation 29,500.00 Inflation 26,280.00 Inflation 85,000 29,500 26,280 2% of EGI 2%
