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42nd Terrace Westroads Industrial
Dyer Business Park Overall Portfolio Overall Portfolio
Pro Forma
Estimated Occupancy:
100.0%
97.1%
100.0%
99.0%
97.0%
Building Area (SF):
34,520
27,600
33,600
95,720
95,720
$ Amount PSF $ Amount
PSF $ Amount
PSF $ Amount PSF $ Amount
PSF
REVENUE
Annual Base Rent Income (1)
$280,409 $8.12 $225,235 $8.16 $254,088 $7.56 $759,732 $7.94 $883,763 $9.23
Reimbursements (2)
$28,191 $0.82 $14,656 $0.53 $12,380 $0.37 $55,227 $0.58 $55,227 $0.58
Gross Potential Income
$308,600 $8.94 $239,891 $8.69 $266,468 $7.93 $814,959 $8.51 $938,990 $9.81
VACANCY ALLOWANCE (3)
$0 $0
$0 $0.00
$0 $0.00 ($24,449) ($0.26)
($26,137) ($0.27)
EFFECTIVE GROSS INCOME
$308,600 $8.94 $239,891 $8.69 $266,468 $7.93 $790,510 $8.26 $912,853 $9.54
EXPENSES (4)
RE Taxes (5)
$37,798 $1.09 $31,724 $1.15 $36,095 $1.07 $105,617 $1.10 $105,617 $1.10
Insurance
$9,134 $0.26
$7,300 $0.26 $8,891 $0.26 $25,325 $0.26 $25,325 $0.26
Management Fee (6)
$8,817 $0.26
$7,025 $0.25 $7,994 $0.24 $23,837 $0.25 $23,837 $0.25
R&M
$3,000 $0.09
$3,000 $0.11 $4,200 $0.13 $10,200 $0.11 $10,200 $0.11
Trash Removal
$3,240 $0.09
$3,240 $0.12
$0 $0.00 $6,480 $0.07
$6,480 $0.07
Payroll
$5,400 $0.16
$5,400 $0.20 $5,403 $0.16 $16,203 $0.17 $16,203 $0.17
Electric
$550 $0.02
$0 $0.00 $1,400 $0.04 $1,950 $0.02
$1,950 $0.02
Fire & Safety
$4,140 $0.12
$1,500 $0.12 $1,836 $0.05 $7,476 $0.08
$7,476 $0.08
Water & Sewer
$7,500 $0.22 $10,800 $0.39 $4,200 $0.13 $22,500 $0.24 $22,500 $0.24
TOTAL EXPENSES
$79,579 $2.31 $69,989 $2.54 $70,019 $2.03 $219,588 $2.29 $219,588 $2.29
NET OPERATING INCOME
$229,021 $6.63 $169,902 $4.92 $196,448 $5.69 $570,922 $5.96 $693,266 $7.24
Notes:
(1) Based on in-place rent roll from 2017
(2) Reimbursements include: CAM, RE Taxes, Labor, Alarm and Collected Late Fees
(3) 3% Vacancy Allowance deduction for in-place calculation
(4) Based on 2017 Budget provided. See detail on Expenses page for each asset.
(5) In-Place RE Taxes inflated 2016 discounted taxes by 3%
(6) Calculated as 3% of Effective Gross Revenue
In-Place
In-Place
In-Place
In-Place
Cash Flow Projection