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