2019 MIDDLE STREET

ASSUMPTIONS
Unit
A -- Restaurant
B -- C-Store
C -- Gallery
D -- Dry Cleaner

Unit Size
2,390
1,606
2,339
1,393
7,728

Lease
Type

$/PSF
$8.79
$14.95
$7.70
$7.54
$9.51

Rent/Mo.
1,750
2,000
1,500
875
6,126

Rent/YR
21,000
24,002
18,006
10,503
73,511

Notes

YEAR 1
0.0%
0.0%
0.0%
0.0%

YEAR 2
75.0%
3.0%
75.0%
75.0%

YEAR 3
3.0%
3.0%
3.0%
3.0%

YEAR 4
3.0%
5.0%
3.0%
3.0%

YEAR 5
3.0%
5.0%
3.0%
3.0%

$8.79
$14.95
$7.70
$7.54
$9.51

$15.38
$15.39
$13.47
$13.20
$14.41

$15.84
$15.86
$13.88
$13.59
$14.84

$16.31
$16.65
$14.29
$14.00
$15.35

$16.80
$17.48
$14.72
$14.42
$15.88

No Lease
NNN
Lease Ends 7/2011
No Lease

OPERATING PROFORMA
Annual Rent Increase - A
Annual Rent Increase - B
Annual Rent Increase - C
Annual Rent Increase - D
A -- Restaurant
B -- C-Store
C -- Gallery
D -- Dry Cleaner
Total Building Avg
Unit A
Unit B
Unit C
Unit D
Total Rent Revenue

21,000
24,002
18,006
10,503
73,511

Taxes
Insurance
Reimbursements (Taxes)
Reimbursements (Insurance)
Total Expenses

8,325
2,000
(1,730)
(2,000)
6,595

Total Net Cash Flow

66,916

36,750
24,722
31,510
18,381
111,362

37,853
25,463
32,455
18,932
114,703

8,575
2,000
(8,575)
(2,000)
-

8,832
2,000
(8,832)
(2,000)
-

111,362

114,703

38,988
26,737
33,429
19,500
118,653

9,097
2,000
(9,097)
(2,000)
118,653

40,158
28,073
34,432
20,085
122,748

9,370
2,000
(9,370)
(2,000)
122,748

RENTAL HOUSE
Total Size
Construction Cost ($PSF)
Total Cost

2,500
$125
$312,500

Loan Amount
Interest Rate

$312,500
5.50%

Rental Income
Taxes
Insurance
Maintenance
Debt Service
Net Cash Flow

Monthly Rent Amount

Annual Increase

YEAR 1
39,000
(5,000)
(2,000)
(2,000)
(21,292)
8,708

YEAR 2
40,170
(5,150)
(2,060)
(2,060)
(21,292)
9,608

YEAR 3
41,375
(5,305)
(2,122)
(2,122)
(21,292)
10,535

3,250
3.00%

YEAR 4
42,616
(5,464)
(2,185)
(2,185)
(21,292)
11,490

YEAR 5
43,895
(5,628)
(2,251)
(2,251)
(21,292)
12,473