| Fuller
Rd Site |
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| Combination
Retail / Parking / Office |
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| Cost
estimated using 1998 RSMeans at the 3rd quartile |
|
| (Office
& Retail include $20 / sq ft premium for institutional quality) |
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|
| Provide space as follows: |
|
Blue numbers
are variables |
|
| 100,000 |
sq ft parking |
|
parking spots |
|
|
| 25,000 |
sq ft retail |
|
| 100,000 |
sq ft office |
|
| 225,000 |
Total sq ft |
|
|
| Soft Costs based on |
Public |
Private (Condo) |
Public - Univ. |
|
| Average Fee Structure: |
Parking |
Retail |
Office |
|
| Construction Eng'g Fee |
3% |
3% |
3% |
|
|
| Architectural Fee |
6% |
6% |
6% |
|
|
| Developer Fee |
10% |
10% |
10% |
|
|
| Closing Costs |
$519,924 |
$194,100 |
$984,877 |
|
|
|
| Average
Cost per square foot cost: |
Hard Costs |
Soft Costs |
Total Cost |
Optimistic (-10%) |
Pessimistic(+10%) |
| Parking |
AA City Adj |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
| $62.12 |
101.2% |
$62.87 |
$17.14 |
$80.01 |
$72.03 |
$87.99 |
| Retail |
AA City Adj |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
| $87.50
|
101.2% |
$88.55 |
$24.59 |
$113.14 |
$101.89
|
$124.38
|
| Office |
AA City Adj |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
Avg. Cost/sq. ft. |
| $119.55 |
101.2% |
$120.98 |
$32.84 |
$153.82 |
$138.46
|
$169.19
|
|
| Total Cost for planned sq.
ft.: |
|
per parking spot |
Annual Financing Cost: |
Optimistic |
Pessimistic |
| $8,000,911 |
|
$20,000 |
Annual Rate Pub: |
6% |
5% |
7% |
| $2,828,463 |
Retail |
|
Annual Rate Priv: |
8% |
7% |
9% |
| $15,382,044 |
Office |
|
Number of years: |
20 |
20 |
20 |
| $26,211,418 |
Tot. Est. Cost |
Depreciation yrs: |
39 |
39 |
39 |
|
|
Parking |
$697,556 |
$577,949 |
$830,592 |
|
Retail |
$216,064
|
$180,336
|
$255,485
|
|
Office |
$1,341,077
|
$1,111,002
|
$1,596,991
|
| Estimated Parking Revenue: |
|
|
Spots |
Rate |
Hours per Day |
Days per Year |
Total Annual Rev |
Optimistic (+10%) |
|
Monthly (110% rented) |
220 |
$100 |
|
$264,000 |
Annual sq ft & spot |
|
Hourly |
200 |
$1 |
10 |
330 |
$660,000 |
$10.16 |
| Total |
400 |
|
|
$924,000 |
$2,541 |
| Annual Rate per sq ft |
|
|
$9.24 |
Pessimistic(-10%) |
| Annual Rate per Parking Spot |
|
|
$2,310 |
Annual sq ft & spot |
|
$8.32 |
|
Optimistic |
Pessimistic |
$2,079 |
| Retail |
Rate |
Sq ft |
Total Annual Rev |
Rate |
Rate |
|
| NNN Rent per sq ft |
$20 |
25,000 |
$500,000 |
$22 |
$18 |
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