Underwrite a loan request for the acquisition of an existing retail strip center. Purchase price is $1,000,000. Total rentable square footage of the property is 5,000 SF. Market rent is $20/SF. Loan request is for 80% loan to cost, 6% interest rate, and a 15-year amortization period. CASE STUDY: ABC DEVELOPMENT, LLC 1. Use the leases provided to create a detailed rent roll showing: a. Tenant name b. Suite number C. Square footage leased d. Monthly rent, annual rent, and rent per square foot e. Lease commencement date f. Lease expiration date g. h. i. Length of lease term (in years) Show any vacant space Total occupied square footage j. Total vacant square footage 2. Using the leases in conjunction with the provided operating expenses, create a cash flow statement for the property. 3. What is the property's in-place NOI? 4. Assuming an 8.0% cap rate, what is the estimated "as is" value of the Property? 5. What is the estimated LTV based on the requested loan amount? 6. Using the debt assumption