PRICING FINANCIAL ANALYSIS

							TOWN & COUNTRY MINI WAREHOUSES
FORNEY, TX

PRICING & FINANCIAL ANALYSIS

Income & Expenses
Total Number of Units Total Gross Square Feet Total Rentable Square Feet 204 20,311 19,865

INCOME
GROSS POTENTIAL RENT U-Haul Sales Retail Sales Administration Fees Late Fees TOTAL OTHER INCOME GROSS POTENTIAL INCOME Vacancy/Collection Allowance EFFECTIVE GROSS INCOME Total Expenses % of EGI NET OPERATING INCOME

CURRENT
$106,278 16,450 5,400 3,130 4,850 $29,830 $136,108 (10.0%) 10,628 $125,480 $38,836 30.9% $86,644

PER SF
$5.35 0.83 0.27 0.16 0.24 $1.50 $6.85 0.54 $6.32 $1.95

PRO FORMA
$108,978 16,861 5,535 3,208 5,093 $30,697 $139,675 (10.0%) 10,898 $128,777 $39,869 31.0%

PER SF
$5.49 0.85 0.28 0.16 0.26 $1.55 $7.03 0.55 $6.48 $2.01

$4.36

$88,908

$4.48

COMMENTS
Owner leases additional land at $4,800 annually to rent and park U-Haul vehicles.

TOWN & COUNTRY MINI WAREHOUSES
FORNEY, TX

PRICING & FINANCIAL ANALYSIS

Expenses
CURRENT PER SF PRO FORMA PER SF

Real Estate Taxes Insurance On-Site Payroll Utilities*1 Trash Telephone, Fax & Internet Security Supplies Cost of Goods Sold Lease on Additional Lot - UHaul Parking Metro PCS - Cell Phone for Mgr*2 TOTAL EXPENSES % of EGI

$7,332 2,692 17,600 1,570 752 842 380 265 1,350 4,800 1,253 $38,836 30.9%

$0.37 0.14 0.89 0.08 0.04 0.04 0.02 0.01 0.07 0.24 0.06 $1.95

$7,332 2,692 18,500 1,625 775 875 380 265 1,350 4,800 1,275 $39,869 31.0%

$0.37 0.14 0.93 0.08 0.04 0.04 0.02 0.01 0.07 0.24 0.06 $2.01

COMMENTS
1 - Utilities include electricity at $365 and water at $1,205. 2 - The manager is provided a personal cell phone to which the facility's calls are forwarded to.