|
ta
<br />www.FinanceDTA.com
<br />SECTION VI
<br />RETAIL MARKET RESEARCH
<br />Below is a summary of our findings regarding the proposed NAV generated by the retail properties.
<br />Table 11: NAV
<br />Planning Area.Exp
<br />-
<br />ql--AhL-�
<br />Rent
<br />..
<br />Expenses
<br />A-
<br />'d ESA
<br />..-
<br />and Cap
<br />Reserve
<br />11
<br />Operath
<br />Income
<br />I
<br />PCEap
<br />Rate
<br />&
<br />F
<br />NetAssetValue
<br />Planning Area 2
<br />Ground Floor Retail
<br />Block 11
<br />31,004 SF
<br />$3.00 SF/Mth
<br />$1,116,144
<br />5.00%
<br />10.00%
<br />3.00%
<br />($200,906)
<br />$915,238
<br />4.75%
<br />$19,268,000
<br />Planning Area 4
<br />Ground Floor Retail
<br />Block 12
<br />16,216 SF
<br />$3.00 SF/Mth
<br />$583,776
<br />5.00%
<br />10.00%
<br />3.00%
<br />($105,080)
<br />$478,696
<br />4.75%
<br />$10,078,000
<br />Planning Area 8
<br />Retail -Grocery Anchored
<br />Block14
<br />38,269SF
<br />$3.00SF/Mth
<br />$1,377,684
<br />5.00%
<br />10.00%
<br />3.00%
<br />($247,983)
<br />$1,129,701
<br />4.50%
<br />$25,104,000
<br />Planning Area 10
<br />Ground Floor Retail
<br />Block 15
<br />12,454 SF
<br />$3.00 SF/Mth
<br />$448,344
<br />5.00%
<br />10.00%
<br />3.00%
<br />($80,702)
<br />$367,642
<br />4.75%
<br />$7,740,000
<br />Planning Area 17
<br />Ground Floor Retail
<br />Block 18
<br />18,810 SF
<br />$3.00 SF/Mth
<br />$677,160
<br />5.00%
<br />10.00%
<br />3.00%
<br />($121,889)
<br />$555,271
<br />4.75%
<br />$11,690,000
<br />Planning Area 19
<br />Ground Floor Retail
<br />Block 19
<br />16,735 SF
<br />$3.00 SF/Mth
<br />$602,460
<br />5.00%
<br />10.00%
<br />3.00%
<br />($108,443)
<br />$494,017
<br />4.75%
<br />$10,400,000
<br />Planning Area 20
<br />Neighborhood Retail
<br />Block 20
<br />25,167 SF
<br />$3.00 SF/Mth
<br />$906,012
<br />5.00%
<br />10.00%
<br />3.00%
<br />($163,082)
<br />$742,930
<br />4.75%
<br />$15,641,000
<br />Planning Area 31
<br />Ground Floor Retail
<br />Block 3
<br />19,070 SF
<br />$3.00 SF/Mth
<br />$686,520
<br />5.00%
<br />10.00%
<br />3.00%
<br />($123,574)
<br />$562,946
<br />4.75%
<br />$11,852,000
<br />Planning Area 33
<br />Ground Floor Retail
<br />Block 7
<br />35,156 SF
<br />$3.00 SF/Mth
<br />$1,265,616
<br />5.00%
<br />10.00%
<br />3.00%
<br />($227,811)
<br />$1,037,805
<br />4.75%
<br />$21,849,000
<br />Planning Area 35
<br />Ground Floor Retail
<br />Block 10
<br />20,886 SF
<br />$3.00 SF/Mth
<br />$751,896
<br />5.00%
<br />10.00%
<br />3.00%
<br />($135,341)
<br />$616,555
<br />4.75%
<br />$12,980,000
<br />Planning Area 41
<br />Ground Floor Retail
<br />Block 1
<br />21,794 SF
<br />$3.00 SF/Mth
<br />$784,584
<br />5.00%
<br />10.00%
<br />3.00%
<br />($141,225)
<br />$643,359
<br />4.75%
<br />$13,544,000
<br />Planning Area 43
<br />Ground Floor Retail
<br />Block 2
<br />21,015 SF
<br />$3.00 SF/Mth
<br />$756,540
<br />5.00%
<br />10.00%
<br />3.00%
<br />($136,177)
<br />$620,363
<br />4.75%
<br />$13,060,000
<br />Planning Area 49
<br />Ground Floor Retail
<br />Block 6
<br />34,247 SF
<br />$3.00 SF/Mth
<br />$1,232,892
<br />5.00%
<br />10.00%
<br />3.00%
<br />($221,921)
<br />$1,010,971
<br />4.75%
<br />$21,284,000
<br />Planning Area 51
<br />Ground Floor Retail
<br />Block 8
<br />17,772 SF
<br />$3.00 SF/Mth
<br />$639,792
<br />5.00%
<br />10.00%
<br />3.00%
<br />($115,163)
<br />$524,629
<br />4.75%
<br />$11,045,000
<br />Planning Area 53
<br />Ground Floor Retail
<br />Block 9
<br />21,405 SF
<br />$3.00 SF/Mth
<br />$770,580
<br />5.00%
<br />10.00%
<br />3.00%
<br />1 ($138,704)
<br />$631,876
<br />4.75%
<br />$13,303,000
<br />Total/Average
<br />350,000 SF
<br />$1,050,000
<br />1 $12,600,000
<br />1 ($630,000)
<br />1 ($1,260,000)
<br />1 ($378,000)
<br />1 ($2,268,000)
<br />$10,332,000
<br />4.72%
<br />$218,838,000
<br />Related Bristol at 3600 South Bristol Street
<br />Draft Market Study Report
<br />Exhibit 10
<br />September 2023
<br />28
<br />
|