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Huildirig ,Summary
<br /> Total Building SF 16,062 Yearly Base Rent $289,116
<br /> Office SF 16,062 $18.00 Yearly OP Expenses $170,555
<br /> Warehouse SF 0 $0.00 Monthly Net Rent $24,093
<br /> Blended Net Rent $18.00 Monthly OP Expenses $14,213
<br /> Tax & OP $10.62 % of Office Build Out 100%
<br /> Income and Expense Suminmy
<br /> Annual Gross Income $ 459,670.50
<br /> Less Operation Expenses $ 170,554.50
<br /> Net Operating Income $ 289,116.00
<br /> lcquisition ('asts
<br /> Purchase Price 16,062 $175.00 $ 2,810,850.00
<br /> Office Improvements 16,062 $50.00 $ 803,100.00
<br /> Itemized Improvements See Itemized Impv Sheet $325,000
<br /> Restaurant 5,000 $0.00 $0
<br /> Land Costs (New Construction Only) 0.64 Acres 28,000 $5.00 $ 140,000.00
<br /> Soil Corrections (New Construction Only) Enter Total$Amount 4 $ -
<br /> Sub Total Hard Costs $ 4,078,950.00
<br /> Soft Costs See Soft Costs $ 138,750.03
<br /> Total Acquisition Costs $262.59 $ 4,217,700.03
<br /> h'inancine ,S;mnmary
<br /> Total Acquisition Costs 100% $ 4,217,700.03
<br /> 1st Mortgage 75% $ 3,163,275.02
<br /> 2nd Mortgage or SBA 0% $
<br /> Equity Required For Bank 25% $ 1,054,425.01
<br /> Total Mortgage 75% $ 3,163,275.02
<br /> liurlgagt' Uecurls
<br /> 1 st Mortgage $3,163,275 25 7.00% $ 268,288.44
<br /> 2nd Mortgage $0 25 7.00% $ -
<br /> Total Mortgage Cost Yearly $3,163,275 25 uDiv/o! $ 268,288.44
<br /> Total Mortgage Cost Monthly $22,357.37
<br /> Vacaracv
<br /> Annual Net Income $ 289,116.00
<br /> Minus Vacancy Net Expenses 0% 0 $18.00 $ -
<br /> Minus Vacancy Operating Expenses 0% o $10.62 $ -
<br /> Reserves/Improvements $o 0 0.00% 0
<br /> Equals Annual Adjusted Net $ 289,116.00
<br /> liouurr� r
<br /> TIF Income $ 81,288.94
<br /> Adjusted Net Income $ 289,116.00
<br /> Mortgage Payment $ 268,288.44
<br /> Yearly Cash Flow $ 102,116.50
<br /> Monthly Cash Flow $ 8,509.71
<br /> Return on Investment 9.68%
<br /> Debt Constant 8.48%
<br /> Debt Ratio 1.08
<br /> Cap Rate Value 6.85%
<br /> Straight Cash Return 8.78%
<br /> All information is judged reliable,however,no warranty or representation is made to it accuracy or completeness
<br /> 3/5/2010
<br /> Michael A. Brass I Vice President 1:26 PM
<br /> 612.750.4312 1 mike@mikebrass.com Page 1 of 1
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