Pierce
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OPERATING STATEMENT<br />
Income Current Year 1 Per Unit Per SF<br />
Gross Potential Rent 211,800 211,800 26,475 22.32<br />
Loss/Gain to Lease (24,600) 0 0 0.00<br />
Gross Scheduled Rent 187,200 211,800 26,475 22.32<br />
Physical Vacancy (5,616) 3.0% (6,354) 3.0% (794) 3.0% (0.67) 3.0%<br />
Total Vacancy ($5,616) 3.0% ($6,354) 3.0% ($794) 3.0% ($1) 3.0%<br />
Effective Gross Income $181,584 $205,446 $25,681 $21.65<br />
Income Current Year 1 Per Unit Per SF<br />
Real Estate Taxes 14,380 14,380 1,798 1.52<br />
Insurance 8,000 8,000 1,000 0.84<br />
Utilities - Electric 753 753 94 0.08<br />
Utilities - Water & Sewer 5,807 5,807 726 0.61<br />
Repairs & Maintenance 4,000 4,000 500 0.42<br />
Operating Reserves 2,000 2,000 250 0.21<br />
Management Fee 9,079 (5.0%) 10,272 (5.0%) 1,284 (5.0%) 1.08 (5.0%)<br />
Total Expenses $44,019 $45,212 $5,652 $4.76<br />
Expenses as % of EGI 24.2% 22.0%<br />
Net Operating Income $137,565 $160,234 $20,029 $16.88
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