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Real Estate Lease Template

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Real Estate Lease Template Powered By Docstoc
					                                                Real Estate Pro Forma
                                                 Lotus Template 1.5

                                                  Input Formats
*********                       *********       *********   *********                    *********   *********       *********

Analysis:                       Rehabilitation of former bank
Date:                              9/10/04


FOR ALL MODELS:
                    ---------       ---------       ---------                ---------                   ---------        ---------
Acquisition cost                                                87500
Gross square footage                                            20000
Leasable space ratio                                            0.95                                 Ground fl       .......
Indirect cost ratio                                             0.115                                Addl flrs       .......
Mortgage loan: duration                                         20                                   Facade          .......
                                        rate                    0.125                                Roof            .......
                                loan-to-cost ratio              0.5                                  Other           .......
Operating expenses                                              25000
Real estate taxes                                               30000
Expected vacancy rate                                           0.04
Required return on equity                                       0.15
Percent of space leasable                                       0.95
                                                                                                     FIRST RUN
FOR ACQUISITION-DRIVEN MODEL:                                                                        Total costs    =
                   --------- ---------              ---------                ---------               Construction loan=
Improvement costs                                                           600000                   Interest on loan =
Loan-to-cost ratio                                              0.5                                  Origination fee =

FOR INCOME-DRIVEN MODEL:
                 --------- ---------                ---------                ---------
Anticipated rent                                                7
Debt coverage ratio                                             1.3914                               Architect/Engineer fees @
                                                                                                     Legal/accounting fees @
FOR TAX-DRIVEN MODEL:                                                                                Leasing         fees @
                 ---------  ---------               ---------                ---------               Loan origination fees @
Construction loan: duration                                      .....yrs                            Interest on construction loan
                                              rate              ........%
                                  origination fee               ........%
                                loan-to-cost ratio              ........%
Tax rate                                                        ........%
Investment tax credit rate                                      ........%
Depreciation life                                                .....yrs                            SPACE 1
Leasing fee                                                     ........%                            retail                    ........
                                                                                                     SPACE 2
                                                                                                     office fl                 ........
                                ******************                                                   SPACE 3
                                ** NOW GO TO **                                                      residence                 ........
                                ** I-11 **                                                           SPACE 4
                          ** IF YOU ARE **                                            ........
                          ** DOING A **                                SPACE 5
                          ** TAX-DRIVEN **                                            ........
                          ** MODEL **                                  SPACE 6
                          ** ------- **                                               ........
                          **          **                               SPACE 7
                          ** OTHERWISE **                                             ........
                          ** GO TO A-90 **
                          ** TO VIEW THE **
                          ** OUTPUT **
                          ******************
                                                                                 Operating Expenses
                                                                       EXPENSE 1
                                                                       heat/lite      ........
                                                                       EXPENSE 2
                                                                       cleaning       ........
                                                                       EXPENSE 3
                                                                       let space      ........
                                                                       EXPENSE 4
                                                                       prop tax       ........
                                                                       EXPENSE 5
                                                                                      ........
                                                                       EXPENSE 6
                                                                                      ........
                                                                       EXPENSE 7
                                                                                      ........
                                                                       LEASE FEE           0




  Urban Analytical Tools
                       Template 1.5

Simplified Acquisition Analysis
("Front Door" Approach)
                 *********   *********    *********        *********

Acquisition costs                                          87500
Improvement costs                                         600000
Indirect costs                                             69000
                          Total capital bdgt              756500

Loan principal                                             378250
Debt service rate                                     0.138095733
Annual debt service                                   52234.71099
Operating expenses                                          25000
Real estate taxes                                           30000
                          Total annual costs           107234.711

Return on equity                                          56737.5
                          Net operating incm           163972.211      170804.4
  Gross potential income                                 170531.0994
         expected vacancy                                        0.04
        net leasable space                                     19000
  Rent required                                          8.975321023
  Debt coverage ratio                                    3.139142687
  Default ratio                                          0.628827887

                             Analysis:   Rehabilitation of former bank




    Urban Analytical Tools
                         Template 1.5

      Simplified Income Analysis
   ("Back Door" Approach)
  *********                *********     *********   *********

  Gross potential income                                         133000
  Gross effective income                                         127680

  Operating expenses                                             25000
  Real estate taxes                                              30000
                             Net operating incm                  72680

  Available for loan                                     52235.15883
  Available for retrn on eqty                            20444.84117
                             Max loan justified           378253.243
                             Equity justified            136298.9411
                             Total Investment            514552.1841
                             Loan percent                0.735111529
                             Equity percent              0.264888471
  Available for improvements                             427052.1841
                             Direct costs-sq ft          18.89705915
                             Indirect costs              2.455550059
                             Total costs per ft           21.3526092

                             Analysis:   Rehabilitation of former bank




    Urban Analytical Tools
                         Template 1.5

Acquisition-Driven Analysis
   with Tax Considerations
  *********                 *********    *********   *********

  Acquisition costs                                              87500
Direct improvement costs                                               0
Indirect costs                                                         0
                        Total Capital Budget                       87500
Annual debt service                                          6041.688317

Gross potential income                                                    0                   *********       *********
Gross effective income                                                    0
Operating expenses                                                        0
Net operating income
                          (before debt srvc)                            0                     NOI                     0
                     (after debt srvc)                       -6041.688317                     Interest          10937.5
                                                                                              Deprec'tn               0
                             pre-tax ROE                     -0.138095733                     Tax loss         -10937.5
                             pre-tax debt cover                         0                     tax svngs               0
                             pre-tax default %                 #DIV/0!                        principal           87500

                                             Six-year cash flows (after taxes)
                 ---------       ---------       ---------           ---------  ---------         ---------       ---------
                                Yr. 1           Yr. 2           Yr. 3          Yr. 4             Yr. 5           Yr. 6

Pre-tax
Cash Flow                     -6041.69        -6041.69       -6041.688317      -6041.69        -6041.69        -6041.69

Savings/
Cost on
Taxes                                  0              0                   0               0               0               0

Investmnt
Tax Credi                              0              0                   0               0               0               0

Total
Cumulativ
ROI                           -6041.69        -6041.69       -6041.688317      -6041.69        -6041.69        -6041.69

% ROI                         -0.06905        -0.06905       -0.069047866      -0.06905        -0.06905        -0.06905
% ROE                          -0.1381         -0.1381       -0.138095733       -0.1381         -0.1381         -0.1381

Post-tax
Debt Cvrg                              0              0                   0               0               0               0

Post-tax
Default %                     #DIV/0!         #DIV/0!          #DIV/0!         #DIV/0!          #DIV/0!         #DIV/0!

                                                                              Analysis:       Rehabilitation of former bank
              *********    *********   *********        *********       *********




                            Worksheets
                  ---------    ---------    ---------       ---------       ---------
              Direct Construction Costs

              sq. ft X     $........   per sq. ft. =                                0
              sq. ft X     $........   per sq. ft. =                                0
              sq. ft X     $........   per sq. ft. =                                0
              sq. ft X     $........   per sq. ft. =                                0
              sq. ft X     $........   per sq. ft. =                                0
                                       Total direct cost=                           0



              Construction Loan Financing
                                     SECOND RUN
                 87500               Total costs    =                       87500
                      0              Construction loan=                         0
                      0              Interest on loan =                         0
                      0              Origination fee =                          0



             Indirect Costs
ngineer fees @           .........        % of direct cost =                     0
unting fees @            .........        % of direct cost =                     0
                                       0 % of gross income=                      0
ation fees @               .........      % of loan      =                       0
construction loan                                           =                    0
                                  Total indirect cost=                           0
                                  Indirect cost ratio=                    #DIV/0!


              Rental Income

              sq. ft X     $........   per sq. ft. =                                0

              sq. ft X     $........   per sq. ft. =                                0

              sq. ft X     $........   per sq. ft. =                                0
          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0
                     Total gross potential incm=   0



Operating Expenses

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X   $........   per sq. ft. =     0

          sq. ft X    $........    per sq. ft. =   0
          % of gross effective income =            0
                      Total operating expenses =   0
            Worksheet
            ********* *********    *********   *********   *********

            Six-year cash flows

                    0          0           0           0           0
             11549.48   12237.95    13012.48    13883.83     14864.1
                    0          0           0           0           0
             -11549.5   -12237.9    -13012.5    -13883.8    -14864.1
                    0          0           0           0           0
             92395.81    97903.6    104099.9    111070.7    118912.8




on of former bank

				
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