Lakeside Plaza OM

Lakeside Plaza Discounted Cash Flow

LAKESIDE PLAZA | DISCOUNTED CASH FLOW ANALYSIS

Total Square Feet Years Ending:

119,370

PSF May-2018 May-2019 May-2020 May-2021 May-2022 May-2023 May-2024 May-2025

REVENUE

BASE RENT

$1,824,082 $1,893,007 $1,974,234 $2,094,388 $2,180,448 $2,276,713

$2,377,255 $2,479,193

$

15.28

RENT ABATEMENTS

($6,569) 786,741

($4,769)

($6,416)

$0

$0

$0

-

-

(0.06)

EXPENSE REIMBURSEMENTS

1,090,566 2,978,804

1,135,092 3,102,910

1,179,346 3,273,734

1,240,722 3,421,170

1,250,650 3,527,363

1,282,949 3,660,204

1,318,996 3,798,189

6.59

TOTAL REVENUE

$

21.82

$

2,604,254

$

$

$

$

$

$

$

REVENUE ADJUSTMENTS ABSORPTION/TURNOVER GENERAL VACANCY TOTAL ADJUSTMENTS

($538,087)

($84,398) (213,482) (297,880) 2,680,924 $267,853 106,468 80,428 25,693 13,553 51,848 95,286 82,026 13,921 128,266 226,276 40,516 3,784 1,135,918 1,545,006

($71,023) (146,181) (217,204) 2,885,706 $275,888 109,662 86,571 26,464 13,959 53,404 98,145 84,487 14,339 132,114 233,064 41,732 3,898 1,173,727 1,711,979 $161,637 73,283 25,328 260,248 1,451,731

($58,087) (171,074) (229,161) 3,044,573 $284,165 112,952 91,337 27,258 14,378 55,006 101,089 87,022 14,769 136,077 240,056 42,984 4,015 1,211,108 1,833,465 $365,429 146,564 26,088 538,081 1,295,384

($14,685) (224,797) (239,482) 3,181,688 $292,690 116,340 95,451 28,076 14,809 56,656 104,122 89,632 15,212 140,160 247,257 44,273 4,135 1,248,813 1,932,875

($66,259) (180,656) (246,915) 3,280,448 $301,470 119,831 98,413 28,918 15,254 58,356 107,246 92,321 15,669 144,364 254,675 45,601 4,259 1,286,377 1,994,071 $271,342 120,841 27,677 419,860 1,574,211

($79,818) (176,396) (256,214) 3,403,990

($88,195) (177,678) (265,873) 3,532,316

$

(4.51)

-

-

$ $

(4.51)

$ $

(538,087)

$ $

$ $

$ $

$ $

$ $

$ $

$ $

EFFECTIVE GROSS REVENUE

2,066,167

17.31

EXPENSES

REAL ESTATE TAXES

$260,051 103,367 61,985 24,945 13,158 50,338 92,511 79,637 13,516 124,530 219,685 39,336 3,674 1,086,733

$310,514 123,426 102,120

$319,830 127,128 105,969

$

2.18 0.87 0.52 0.21 0.11 0.03 0.42 0.77 0.67 0.11 1.04 1.84 0.33 9.10 8.21 1.48 0.51 0.20 2.19

INSURANCE

MANAGEMENT FEE

LANDSCAPING

29,786 15,711

30,679 16,183

SECURITY PARKING ELEVATOR

4,387

4,519

60,106 110,463 95,091 16,139 148,695 262,315 46,969

61,909 113,777 97,943 16,623 153,156 270,185 48,378

REPAIRS & MAINTENANCE

SALARIES

ASSOCIATION DUES

CLEANING ELECTRIC

WATER

TOTAL EXPENSES

$

$ $

$ $

$ $

$ $

$ $

$ $

$ $

1,325,722 2,078,268

$ $

1,366,279 2,166,037

NET OPERATING INCOME CAPITAL EXPENDITURES TENANT IMPROVEMENTS LEASING COMMISSIONS

979,434

$

$177,030 60,887 23,874 261,791 717,643

$885,296 297,258

- -

$272,569 117,629 28,507 418,705 1,659,563

$

CAPITAL RESERVES

24,590

26,870 26,870

TOTAL CAPITAL EXPENDITURES

$

$ $

$ $

1,207,144

$ $

$ $

$ $

$ $

$ $

OPERATING CASH FLOW

337,862

1,906,005

$

6.01

Lakeside Valuation 020617.xls

2/16/201712:08 PM

LAKESIDE PLAZA

FINANCIALS

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