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Table C-9
<br /> Class B Stand Alone Office Residual Land Value
<br /> East Pleasanton Specific Plan Infrastructure Feasibility Analysis; EPS#121090
<br /> Item Assumption Per Bldg.Sq.Ft. Per Acre
<br /> DEVELOPMENT PROGRAM
<br /> Gross Leasable Area(sq.ft.) 15,246 sq.ft.
<br /> Efficiency Ratio 90%
<br /> Net Leasable Area(sq.ft.) 13,721 sq.ft.
<br /> Parking Ratio(spaces per 1,000 sq.ft.) 4.0
<br /> Total Spaces
<br /> REVENUE ASSUMPTIONS
<br /> Gross Office Revenue(FS) $24.00 /NLA 21.60 329,314
<br /> (less)Operating Expenses 30% (6.48) (98,794)
<br /> (less)Commissions 3.0% (0.65) (9,879)
<br /> (less)Vacancy Rate 10.0% (2.161 f32.931)
<br /> Annual Net Operating Income 12.31 187,709
<br /> Capitalized Value 6.5% cap rate $189.42 $2,887,827
<br /> (less)Cost of Sale 2.0% 1$3.791 f$57.7571
<br /> Total Revenue $186 $2,830,070
<br /> DEVELOPMENT COSTS
<br /> Direct Costs
<br /> Building Construction Cost $150 /GLA sq.ft. $150.00 $2,286,900
<br /> Site Improvement Cost $5.0 /GLA sq.ft. $5.00 $76,230
<br /> Parking Construction Cost $3,000 /per space $12.00 $182,952
<br /> Total Direct Costs $167.00 $2,546,082
<br /> Indirect Costs
<br /> Tenant Improvements $30.00 /GLA sq.fl. $30.00 $457,380
<br /> Impact Fees
<br /> Water $124,230/acre $8.15 $124,230
<br /> Wastewater $51,531 /acre $3.38 $51,531
<br /> Public Facilities $12,959/acre $0.85 $12,959
<br /> Traffic Development $90,561 /acre $5.94 $90,561
<br /> Tri-Valley Transportation Committee Fee $62,356/acre $4.09 $62,356
<br /> Impervious Surface $37,026/acre $2.43 $37,026
<br /> In-lieu Park Dedication Fee $0/acre $0.00 $0
<br /> GIS Fee $87/acre $0.01 $87
<br /> School Impact Fee $7,166/acre $0.47 $7,166
<br /> Other Indirect Costs(1) 15.0% of direct costs $25.05 $381,912
<br /> Total Indirect Costs 48.1% of direct costs $80.36 $1,225,209
<br /> Subtotal,Direct and Indirect Costs $247 $3,771,291
<br /> Contingency(%of direct and indirect costs) 5.0% of direct and indirect costs $12.37 $188,565
<br /> Developer Return(%of direct and indirect costs) 14.0% of direct and indirect costs $34.63 $527,981
<br /> Total Costs $294 $4,487,836
<br /> RESIDUAL LAND VALUE ($109) ($1,658,000)
<br /> (1)Include architecture 8 engineering,financing,and G 8 A costs.
<br /> Source:Economic&Planning Systems,Inc.
<br /> Economic&Henning Systems.Inc 7/25/2013 P1I21000112f090EastPteaaantonlOataVn rrsstnrcfure Feasibilit y1Feasibilify Cafes 7.22.13.xlsx
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