{"text_format":"2","workbook":"xls","n_sheets":6,"sheets":["APOD","CashFlows","Sales","IRR","Assumptions","ReadMe"],"not_rendered":{"charts":0,"images":0,"macros":0,"external_links":1,"defined_names":121,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"run_cost":"one","rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900","formulas":"cached_only"}

{"sheet":"APOD","index":0,"n_rows":57,"n_cols":28,"rows_kept":57,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
[null,"Name","Cedar Blessings RV Park",{"$nulls":4}," ","   Annual Property Operating Data"]
[null,"Location","11951 SW Shiloh Road Cedar Key, FL 32625",{"$nulls":4}," "]
[null,"Type of Property","RV Park",{"$nulls":4}," ","Purchase Price"]
[null,"Size of Property","30.17 Acres",null,"(Sq. Ft./Units)",null,null,null,"Acquisition Costs"]
[{"$nulls":8},"Loan Points"]
[null,"Purpose","Sale",{"$nulls":4}," ","Down Payment"]
[{"$nulls":14},"#Pmts."]
[null,"Assessed/Appraised Values",{"$nulls":6},"Existing",null,"Balance",null,"Payment",null,12,null,"Interest",null,"Term"]
[null,"Land",null,null,0,null,null,null,"1st"]
[null,"Improvements",null,null,0,null,null,null,"2nd",null,0,null,0,null,null,null,0,null,0]
[null,"Personal Property",null,null,0]
[null,"Total",0,null,0,null,null,null,"Potential"]
[{"$nulls":8},"1st",null,null,null," "]
[null,"Adjusted Basis as of:",null,null,0,null,null,null,"2nd",null,null,null," "]
[{"$nulls":4}," "]
[{"$nulls":4},"$/SQ FT",null,"%"]
[null,"ALL FIGURES ARE ANNUAL",null,null,"or $/Unit",null,"of GOI",{"$nulls":5},"COMMENTS/FOOTNOTES"]
[1," POTENTIAL RENTAL INCOME",{"$nulls":12}," "]
[2," Plus:  Other Income (affected by vacancy)",{"$nulls":4},"2 Units",null,"Extra:2nd per"]
[3," Less: Vacancy & Cr. Losses",null,null,null,"(",0.02,"of",0,")"]
[4," EFFECTIVE RENTAL INCOME",{"$nulls":8},0]
[5," Plus:  Other Income (not affected by vacancy)",{"$nulls":6},"late fees"]
[6," GROSS OPERATING INCOME",{"$nulls":6},226064,null,null,null,"2025 YTD Per P&L from Jan 2025 June 2025"]
[null," OPERATING EXPENSES:"]
[7," Real Estate Taxes",{"$nulls":6},16111,null,null,null,"6 Months Prop Taxes"]
[8," Personal Property  Taxes"]
[9," Property Insurance",{"$nulls":6},5083,null,null,null,"6 Months of Insurance Premium YTD"]
[10," Off Site Management",{"$nulls":6},0]
[11," Payroll",{"$nulls":6},11091,null,null,null,"From P&L"]
[12," Expenses/Benefits",{"$nulls":6},0]
[13,"Sales Tax"]
[14," Repairs and Maintenance",{"$nulls":6},10747,null,null,null,"From P&L"]
[null," Utilities:"]
[15,"Water & Sewer"]
[16,"Utlities",{"$nulls":6},28597,null,null,null,"From P&L",{"$nulls":14},"                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    "]
[17,"Fl State tax",{"$nulls":6},"                       "]
[18]
[19," Accounting and Legal",{"$nulls":6},0]
[20," Licenses/Permits"]
[21," Advertising"]
[22," Supplies",{"$nulls":6},0]
[23," Miscellaneous Contract Services:",{"$nulls":6},0]
[24,"Garbage Disposal",{"$nulls":6},"                                            "]
[25,"TV/Int"]
[26,"Misc"]
[27,"Misc Levy County "]
[28,{"$nulls":7},0]
[29," TOTAL OPERATING EXPENSES",{"$nulls":6},71629]
[30," NET OPERATING INCOME",{"$nulls":6},154435,null,0,null,"YTD Jan 2025 thru June 2025"]
[31," Less: Annual Debt Service"]
[32," Less: Funded Reserves",{"$nulls":8},0]
[33," Less: Leasing Commissions",{"$nulls":8},0]
[34," Less: Capital Additions",{"$nulls":8},0]
[35," CASH FLOW BEFORE TAXES"]
[]
["Copyright© 1997 by the Commercial Investment Real Estate Institute        "]
[null,"The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative.",{"$nulls":9},"Prepared by:"]

{"sheet":"CashFlows","index":1,"n_rows":53,"n_cols":9,"rows_kept":53,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
[{"$nulls":4},"   Cash Flow Analysis Worksheet"]
[]
[null,"Property Name","250 NE 77th Street",null,null,"Purchase Price"]
[null,"Prepared For","Dolly Ramphir",null,null,"Acquisition Costs"]
[null,"Prepared By","Dick Ramphir",null,null,"Loan Points"]
[null,"Date Prepared","2025-10-29",null,null,"Down Payment",0]
[]
[]
[null,null,"Mortgage Data",null,null,"Cost Recovery Data"]
[null,null,"1st Mortgage","2nd Mortgage",null,"Improvements","Personal Property"]
[]
[null,"Amount",null,null,"  Value",0]
[null,"Interest Rate",null,null,"  C. R. Method","SL"]
[null,"Term",null,null,"  Useful Life",39]
[null,"Payments/Year",null,12,"  In Service Date","2002-07-28"]
[null,"Periodic Payment",null,0,"  Recapture"]
[null,"Annual Debt Service",null,0,"  (All/None/Excess)"]
[null,"Comments",null,null,"  Investment Tax "]
[{"$nulls":4},"  Credit   ($$ or %)"]
[]
[]
[{"$nulls":4},"Taxable Income"]
[null,null,"Year :",2005,2006,2007,2008,2009]
[]
[1,"  Potential Rental Income",null,40800,0,0,0,0,0]
[2,"+Other Income affected by vacancy",null,0,0,0,0,0,0]
[3," -Vacancy & Credit Losses",null,0,0,0,0,0,0]
[4," =Effective Rental Income",null,40800,0,0,0,0,0]
[5,"+Other Income not affected by vacancy",null,800,0,0,0,0,0]
[6," =Gross Operating Income",null,41600,0,0,0,0,0]
[7," -Operating Expenses",null,12175,0,0,0,0,0]
[8," =NET OPERATING INCOME",null,29425,0,0,0,0,0]
[9," -Interest - 1st Mortgage",null,15853,15853,15853,15853,15853]
[10," -Interest - 2nd Mortgage",null,0,0]
[11," -Cost Recovery - Improvements",null,0,0,0,0,0]
[12," -Cost Recovery - Personal Property"]
[13," -"]
[14," -"]
[15," =Real Estate Taxable Income",null,13572,-15853,-15853,-15853,-15853]
[16,"Tax Liability (Savings) at   36.0%",null,4885.92,-5707.08,-5707.08,-5707.08,-5707.08]
[null,null,"¯¯¯¯¯"]
[{"$nulls":4},"Cash Flow"]
[17,"  NET OPERATING INCOME (Line 8)",null,29425,0,0,0,0]
[18," -Annual Debt Service",null,18146,18146,18146,18146,18146]
[19," -"]
[20," - "]
[21," =CASH FLOW BEFORE TAXES",null,11279,-18146,-18146,-18146,-18146]
[22," -Tax Liability (Savings)  (Line 16)",null,4885.92,-5707.08,-5707.08,-5707.08,-5707.08]
[23," +Investment Tax Credit"]
[24," =CASH FLOW AFTER TAXES",null,6393.08,-12438.92,-12438.92,-12438.92,-12438.92]
[]
["Copyright© 1997 by the Commercial Investment Real Estate Institute        "]
["        The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative."]

{"sheet":"Sales","index":2,"n_rows":51,"n_cols":6,"rows_kept":51,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
[null,"         Alternative Cash Sales Worksheet"]
[]
[null,null,"Mortgage Balances"]
["Year:"]
["Principal Balance - 1st Mortgage",155500,152927,150100,146945,140200]
["Principal Balance - Prepay Penalty ",0,30000,14870,7350,7010]
["TOTAL UNPAID BALANCE",null,182927,164970,154295,147210]
[]
[null,null,"Calculation of Sale Proceeds"]
[]
["PROJECTED SALES PRICE",0,null,0,null,0]
[null,0.08,null,0.07,null,0.06]
[null,"cap rate",null,"cap rate",null,"cap rate"]
["CALCULATION OF ADJUSTED BASIS:"]
["1       Basis at Acquisition",0,null,0,null,0]
["2     +Capital Additions"]
["3      -Cost Recovery (Depreciation) Taken"]
["4      -Basis in Partial Sales"]
["5      =Adjusted Basis at Sale",0,null,0,null,0]
["CALCULATION OF EXCESS COST RECOVERY"]
["6       Total Cost Recovery Taken (Line 3)",0,null,0,null,0]
["7     -Straight Line Cost Recovery",0,null,0,null,0]
["8      =Excess Cost Recovery",0,null,0,null,0]
["CALCULATION OF CAPITAL GAIN ON SALE:"]
["9       Sale Price",0,null,0,null,0]
["10   -Costs of Sale",0,null,0,null,0]
["11    -Adjusted Basis at Sale (Line 5)",0,null,0,null,0]
["12   -Participation Payments"]
["13   =Total Gain",0,null,0,null,0]
["14   -Excess Cost Recovery (Line 8)",0,null,0,null,0]
["15   -Suspended Losses"]
["16   =Gain or (Loss)",0,null,0,null,0]
["17   -Straight Line Cost Recovery (limited to gain)",0,null,0,null,0]
["18   =Capital Gain from Appreciation",0,null,0,null,0]
["ITEMS TAXED AS ORDINARY INCOME:"]
["19     Excess Cost Recovery (Line 8)",null,null,0,null,0]
["20   -Unamortized Loan Points",8000]
["21   =Ordinary Taxable Income",-8000,null,0,null,0]
["CALCULATION OF SALES PROCEEDS AFTER TAX:"]
["22    Sale Price ",0,null,0,null,0]
["23  -Cost of Sale",0,null,0,null,0]
["24  -Participation Payments"]
["25  -Mortgage Balance(s)",153000,null,150000,null,145000]
["26  =Sale Proceeds Before Tax",-153000,null,-150000,null,-145000]
["27  -Tax (Savings) : Ordinary Income at 36% ( Line 21)",-2880,null,0,null,0]
["28  -Tax :  Straight  Line  Recapture  at  25%  (Line 17)",0,null,0,null,0]
["29  -Tax on Capital Gains  at  15% (Line 18)",0,null,0,null,0]
["30  =SALE PROCEEDS AFTER TAX",-150120,null,-150000,null,-145000]
[]
["Copyright© 1997 by the Commercial Investment Real Estate Institute        "]
["        The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative."]

{"sheet":"IRR","index":3,"n_rows":58,"n_cols":11,"rows_kept":58,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
[]
["N",{"$nulls":4},"BEFORE TAX",{"$nulls":4},"I"]
["R",null,"Alternative 1",null,null,"Alternative 2",null,null,"Alternative 3",null,"N"]
["U",null,"n","$",null,"n","$",null,"n","$","T"]
["T",null,0,0,null,0,0,null,0,0,"E"]
["E",null,1,11279,null,1,11279,null,1,11279,"R"]
["R",null,2,-18146,null,2,-18146,null,2,-18146,"N"]
[null,null,3,-18146,null,3,-18146,null,3,-18146,"A"]
["F",null,4,-18146,null,4,-18146,null,4,-18146,"L"]
["O",null,5,-171146,null,5,-168146,null,5,-163146," "]
[null,null,"IRR=",1.939631313259265,null,"IRR=",1.934162760322963,null,"IRR=",1.9249487981226632,"R"]
[]
["S",{"$nulls":9},"A"]
["E",{"$nulls":4},"AFTER TAX",{"$nulls":4},"T"]
["T",null,"Alternative 1",null,null,"Alternative 2",null,null,"Alternative 3",null,"E"]
["A",null,"n","$",null,"n","$",null,"n","$","S"]
["R",null,0,0,null,0,0,null,0,0]
[null,null,1,6393.08,null,1,6393.08,null,1,6393.08,"O"]
["L",null,2,-12438.92,null,2,-12438.92,null,2,-12438.92,"F"]
["A",null,3,-12438.92,null,3,-12438.92,null,3,-12438.92," "]
["N",null,4,-12438.92,null,4,-12438.92,null,4,-12438.92,"R"]
["R",null,5,-162558.92,null,5,-162438.92,null,5,-157438.92,"E"]
["E",null,"IRR=",2.3639655656290053,null,"IRR=",2.3637018197227113,null,"IRR=",2.3526309774061223,"T"]
["T",{"$nulls":9},"U"]
["N",{"$nulls":9},"R"]
["I",{"$nulls":9},"N"]
{"$rows_empty":30}
["            Copyright© 1996 by Gary G. Tharp, CCIM and the Commercial Investment Real Estate Institute        "]
["        The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative."]

{"sheet":"Assumptions","index":4,"n_rows":13,"n_cols":8,"rows_kept":13,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
["Ordinary Income Tax Bracket",0.36]
["Capital Gain Max Tax Rate",0.15]
["Tax Rate on Straight Line Recapture",0.25]
["Month Placed in Service:",27]
[]
[null,"Year---->",1,2,3,4,5,6]
["Vacancy Rates     (enter just year 1, or each year)",null,0,0,0,0,0,0]
["Income Escalators      (enter just year 2, or each year)",null,0.02,0.02,0.02,0.02,0.02,0.02]
["Expense Escalators    (enter just year 2, or each year)",null,2,0.02,0.02,0.02,0.02,0.02]
[]
[null,"Alternative 1",null,"Alternative 2",null,"Alternative 3"]
["Cap rate used in Sale",0.08,null,0.07,null,0.06]
["Expenses of Sale",0.05]

{"sheet":"ReadMe","index":5,"n_rows":54,"n_cols":5,"rows_kept":54,"cut":false,"hidden":false,"merged":[],"flags":["formulas_cached_only"]}
[null,"License:"]
[null,"*This Template was developed by Gary Tharp, CCIM,f for the Commercial Investment Real Estate Institute"]
[null,"(CIREI) which holds copyright to the CCIM Business Forms.  The business form template streamlines "]
[null,"calculations that can be achieved through the use of a financial calculator. "]
[null,"*CCIM Business Forms are provided at no cost for the use of the members of the Commercial Investment "]
[null,"Real Estate Institute and others who may wish to use them.  They may be used in the course of doing "]
[null,"business and may not be sold, rented or in any way become in and of themselves a source of income.  "]
[null,"*This CCIM Business Forms template is presented on an 'as-is' basis.  Neither the Institute nor the author "]
[null,"accept any liability that may arise as a result of reliance on any conclusion indicated by the template"]
[null,"or any report generated by the template, even if the template is defective.  No warranty is given con-"]
[null,"cerning the suitability of the template for any application.                                                                             "]
[null,"*Forms may be copied with inclusion of the following:  \"Reprinted with permission of the Commercial"]
[null," Investment Real Estate Institute / Copyright 1997 Commercial Investment Real Estate Institute (CIREI)\""]
[]
[null,"*Please direct all comments and questions regarding calculations to:"]
[null,"Gary G. Tharp, CCIM"]
[null,"2083 Biltmore Point",null,null,"407/869-1011  Fax 407/862-3666"]
[null,"Longwood, FL 32779",null,null,"Email: gary@orlando.com"]
[]
[]
[null,"Overview:"]
[null,"The template consists of five worksheets, plus this documentation worksheet.  The active sheets "]
[null,"are called APOD, CashFlows, Sales, IRR, and Assumptions.  "]
[]
[null,"The APOD worksheet:"]
[null,"Much of the data that must be input to the template resides here, and is carried over to the CashFlows"]
[null,"worksheet.    All the computations are automated.  Note that if you put no number in the 'Size of "]
[null,"Property' blank, you won't have any answers that depend on dollars-per-units information.  There are"]
[null,"three ways to enter each expense category:  dollars per unit (such as dollars per square foot),"]
[null,"percentage of GOI, in the \"%\" collumn, or by just plugging in the number in column \"I\".  The Mortgage"]
[null,"information in the APOD is not entered there, but comes instead from the CashFlows worksheet."]
[]
[null,"The CashFlows worksheet derives much of its input from the APOD, although you can override that"]
[null,"by plugging in numbers just about wherever you want.  You must put in the mortgage info, although"]
[null,"the payments will calculate automatically.  Income and expenses on this worksheet will escalate in "]
[null,"accordance with percentages you enter in the Assumptions worksheet, which is also where the tax  "]
[null,"brackets and the Year Placed in Service comes from.  CFBT and CFAT numbers, of course, will carry"]
[null,"over into the IRR worksheet, and the cost recovery and mortgage information, etc., is carried over to the "]
[null,"Sales worksheet.  The date you use in the \"In Service Date\" blank in the Cost Recovery  Data"]
[null,"box  is used by Assumptions to extract the \"month placed in service\" for amortization and cost"]
[null,"recovery purposes.  You may, of course, over-ride that number, but the two should agree always."]
[]
[null,"The Sales worksheet  is pretty self-documenting.  The sales price is calculated by capping the 6th "]
[null,"year's NOI (the sixth NOI is in a hidden cell at the end of line 7 on the CashFlows sheet.)  The cap "]
[null,"rates for each alternative are entered in the Assumptions, as is the  'cost of sale'   percentage."]
[]
[null,"The IRR worksheet is just the frosting on the cake -- before and after tax IRRs on the three alternative"]
[null,"cash sales.  All the numbers derive from the CashFlows and Sales sheets, and there is nothing to "]
[null,"input."]
[]
[null,"All the sheets are protected, but none are password protected except this 'readme' sheet.  That means "]
[null,"you can modify anything you like, but must first unprotect the sheet you're working with using the "]
[null,"Protection option in the Tools drop-down menu.  You must do this to look at and change formulae, and"]
[null,"to change column widths, and other formatting options."]