ABCDEFGHIJKLMNOPQRSTUVWXYZ
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SCOTTMOORE LLC
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12001 I-10 SERVICE RD
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TEL: 504.400.1240
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1. SEC 26 LOT 1-A-3A I 10
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2. SERVICE RD & BULLARD 500/304
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CLIENT:SM Development3. X 66-100-100-247/247-120
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PROJECT:Liberty Palms4. 3.4779 ACRES PLAN 9-16A-29
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Lot SF:151497.00
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Planned Program SF:48610.00
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Units (XXX SF)(2 bd 1 ba)65.00130 previous rooms65 Room x $5000 (alt const cost) =
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Commercial Space SF:3510.00OPTION #1 complete Rennovation of 130 units into 65 efficency apartments with no solar upgrades. Rennovation of $3,500 Commerical shell for lease (Child Care Services)Return On Investment
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Ammenities/Office Space SF:XXX
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Annual Income (Commericial + Residential$920,088.00
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Development Budget
Months to Recover TDC (Minus Operating+Financing)
113
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Years to Recover TDC (Minus Operating+Financing)
9.44
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Building Construction/SF$125.00
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Estimated Construction Costs$6,076,250.00Building Construction x Building SFCommercial RentsSF
Cost SF/MO
Cost SF/YR
Month RentAnnual Rent
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Predevelopment Costs$1,979,668.30Lease #13510$1.20$14.40$4,212.00$50,544.00
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Construction Interest$625,246.1310.29%
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Total Development Cost$8,681,289.43
Total Annual Commerical
$50,544.00
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Residential RentsSF
Cost SF/MO
Cost SF/YR
Month RentAnnual Rent
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Predevelopment CostResidential Unit700$1.50$18.00$1,050.00$12,600.00
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Land Acquisition (Including Existing Bldg)
$1,500,000.00Building cost + 10% premium - 2347500(High) Comp
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Survey/Arch/EngineeringTotal Annual (Unit)$12,600.00
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Final Survey$7,500.00
Total (All Residential)
$819,000.00
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Engineering$212,668.305.5% Of Construction Cost - # of Units65
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Permit/Inspection/Entitlement FeesMonthly Total Rental Income$72,462.00
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Tap Fees/Impact Fees$10,000.00Annual Total Rental Income$869,544.00
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Site Prep/Demo$75,000.00Annual Rental Income Adj. for 85% Vacany$739,112.40
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Title & Recording$10,000.00Total Operating Income$739,112.40
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Market Study/Appraislal/Environment
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Wetlands$1,500.00
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Market Study $5,000.00ExpensesDebit
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Traffic & Hydraulica Study$2,500.00Management:(5% of TOI)$36,955.62
Total Development Cost
$8,681,289.43
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Environmental$3,500.00Management Salary$80,000.00
Interest Rate
3.50%
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Marketing$5,000.00Utilities Common Areas$25,000.00
Amortization
360
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Accounting, Insurance & Legal Repairs (Per Unit) $150.00Monthly$38,982.87
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Organizational Cost$3,000.00 Taxes (Per Unit)$2,200.00Annual$467,794.39
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Legal$22,000.00 Insurance (Per Unit)$250.00
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Insurance$12,000.00 Reserves (Per Unit)$210.00
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Operating Reserves$80,000.00Total Per Unit Repairs$182,650.00THIS IS WITH THE ASSUMPTION THAT THE PROJECT WILL NEED TO BE 100% FINANCED. WORST CASE SCENARIO.
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Soft Cost Contingency$30,000.00
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Total Operating Cost$324,605.62
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Total Predevelopment Cost$1,979,668.30
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Net Income
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Total Operating Income$739,112.40
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Total Operating Cost$324,605.62
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Debit Service$467,794.39
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ANNUAL NET INCOME-$53,287.61
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