Lake Meridian Marketplace

Lake Meridian Marketplace - Income/ExpenseLake Meridian MarketplacePurchase Price: $24,790,000Capitalization Rate: 8.00%Price Per Foot (Excluding 24 HR Fitness): $93.22Plus: Stabilized Income Per Sq.Scheduled Rent 2011 $19.02 $3,310,619Plus: Rent Increases 2011 $0.02 $3,666Plus: Expense Reimbursement $4.16 $724,527Equals: Scheduled Gross Income $23.21 $4,038,813Less: Economic Vacancy @ 31% ($1,266,667)Equals: Effective Gross Income $15.93 $2,772,145Less: Operating Expenses Per Sq.CAMS $0.88 $153,555Property Taxes $1.92 $333,635Insurance $0.14 $23,585Utilities $0.94 $164,045Management Fee 3.5% of EGI $0.56 $97,025Reserves $0.10 $17,403Total Operating Expenses $4.54 ($789,248)Equals: Net Operating Income $1,982,897This information has been secured from sources we believe to be reliable but we make no representations or warranties, expressed or implied, as to the accuracy of the information. Buyer must verify the information and bears all risk for any inaccuracies.9