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Table C-10
<br /> Class A Mid-Rise Office Residual Land Value
<br /> East Pleasanton Specific Plan Infrastructure Feasibility Analysis; EPS#121090
<br /> Item Assumption Per Bldg.Sq.Ft. Total
<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) $28.00 /NLA 25.20 384,199
<br /> (less)Operating Expenses 30% (7.56) (115,260)
<br /> (less)Commissions 3.0% (0.76) (11,526)
<br /> (less)Vacancy Rate 10.0% f2.521 (38 4201
<br /> Annual Net Operating Income 14.36 218,994
<br /> Capitalized Value 6.5% cap rate $220.98 $3,369,131
<br /> (less)Cost of Sale 2.0% ($4.421 ($67,3831
<br /> Total Revenue $217 $3,301,749
<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 $20,000 /per space $80.00 $1,219,680
<br /> Total Direct Costs $235.00 $3,582,810
<br /> Indirect Costs
<br /> Tenant Improvements $40.00 /GLA sq.ft. $40.00 $609,840
<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 $35.25 $537,422
<br /> Total Indirect Costs 42.8% of direct costs $100.56 $1,533,178
<br /> Subtotal,Direct and Indirect Costs $336 $5,115,988
<br /> Contingency(%of direct and indirect costs) 5.0% of direct and indirect costs $16.78 $255,799
<br /> Developer Return(%of direct and indirect costs) 14.0% of direct and indirect costs $46.98 $716.238
<br /> Total Costs $399 $6,088,026
<br /> RESIDUAL LAND VALUE ($183) ($2,786,000)
<br /> (1)Include architecture 8 engineering,financing,and G 8 A costs.
<br /> Source:Economic 8 Planning Systems,Inc.
<br /> Economic&Planning Systems,Inc 7/252013 P11210001121090Eas tPleasantonlDataVnbastmcture FeasibilirylFeasibility Cass 7 22.13 slot
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