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{"sheet":"Projected Cash Flows","index":0,"n_rows":76,"n_cols":20,"rows_kept":76,"cut":false,"hidden":false,"merged":[[0,1,0,7],[2,1,2,7],[5,15,5,19]]}
[null,"INSTRUCTIONS: Do Not fill in any information. Leave this tab blank"]
[]
[null,"FIVE YEAR PROFORMA AND INTERNAL RATE OF RETURN"]
[]
[null,"Description",{"$f":"'Annualized Revenue Operating'!D5","v":"Current Income"},"Year 1","Year 2","Year 3","Year 4","Year 5"]
[null,"Blended $/SF Rental Rates",{"$f":"(C8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.75283604452054798},{"$f":"(D8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.77542112585616429},{"$f":"(E8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.79868375963184934},{"$f":"(F8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.82264427242080485},{"$f":"(G8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.84732360059342904},{"$f":"(H8/(Assumptions!$C$6+Assumptions!$C$7+Assumptions!$C$8))/12","v":0.87274330861123195},null,"YoY % Growth",{"$nulls":5},"Achieved Rate Growth Analysis"]
[null,"Achieved $/SF Rental Rates",{"$f":"Assumptions!I7","v":0.6967720781113379},{"$f":"P9","v":0.75528031739236789},{"$f":"Q9","v":0.78032321343341604},{"$f":"R9","v":0.82264427242080485},{"$f":"S9","v":0.84732360059342904},{"$f":"T9","v":0.87274330861123195}]
[null,{"$f":"+'Annualized Revenue Operating'!B7","v":"Potential Gross Rental Income"},{"$f":"'Annualized Revenue Operating'!D7","v":84414},{"$f":"+C8*(1+Assumptions!$C$9)","v":86946.42},{"$f":"+D8*(1+Assumptions!$C$9)","v":89554.812600000005},{"$f":"+E8*(1+Assumptions!$C$10)","v":92241.456978000002},{"$f":"+F8*(1+Assumptions!$C$10)","v":95008.70068734001},{"$f":"+G8*(1+Assumptions!$C$10)","v":97858.961707960218},null,{"$f":"(D8-C8)/C8","v":2.9999999999999978E-2},{"$f":"(E8-D8)/D8","v":3.0000000000000075E-2},{"$f":"(F8-E8)/E8","v":2.9999999999999968E-2},{"$f":"(G8-F8)/F8","v":3.0000000000000082E-2},{"$f":"(H8-G8)/G8","v":3.0000000000000082E-2},null,{"$f":"D10/(Assumptions!$C$6*'Annualized Revenue Operating'!P25)","v":9.0633638087084147},{"$f":"E10/(Assumptions!$C$6*'Annualized Revenue Operating'!P26)","v":9.3638785612009929},{"$f":"F10/(Assumptions!$C$6*'Annualized Revenue Operating'!P27)","v":9.8717312690496577},{"$f":"G10/(Assumptions!$C$6*'Annualized Revenue Operating'!P28)","v":10.167883207121148},{"$f":"H10/(Assumptions!$C$6*'Annualized Revenue Operating'!P29)","v":10.472919703334783}]
[null,{"$f":"+'Annualized Revenue Operating'!B8","v":"  Vacancy, Discounts & Credit Loss"},{"$f":"'Annualized Revenue Operating'!D8","v":-29334},{"$f":"+D10-D8","v":-21736.604999999996},{"$f":"+E10-E8","v":-13433.221890000001},{"$f":"+F10-F8","v":-9224.1456977999915},{"$f":"+G10-G8","v":-9500.8700687340024},{"$f":"+H10-H8","v":-9785.8961707960261},{"$nulls":7},{"$f":"P8/12","v":0.75528031739236789},{"$f":"Q8/12","v":0.78032321343341604},{"$f":"R8/12","v":0.82264427242080485},{"$f":"S8/12","v":0.84732360059342904},{"$f":"T8/12","v":0.87274330861123195}]
[null,{"$f":"+'Annualized Revenue Operating'!B9","v":"Gross Rental Income"},{"$f":"+'Annualized Revenue Operating'!D9","v":55080},{"$f":"+D8*Assumptions!$C$12","v":65209.815000000002},{"$f":"+E8*Assumptions!$C$13","v":76121.590710000004},{"$f":"+F8*Assumptions!$C$14","v":83017.311280200011},{"$f":"+G8*Assumptions!$C$15","v":85507.830618606007},{"$f":"+H8*Assumptions!$C$16","v":88073.065537164191},null,{"$f":"(D10-C10)/C10","v":0.18391094771241834},{"$f":"(E10-D10)/D10","v":0.16733333333333336},{"$f":"(F10-E10)/E10","v":9.0588235294117733E-2},{"$f":"(G10-F10)/F10","v":2.9999999999999957E-2},{"$f":"(H10-G10)/G10","v":3.0000000000000047E-2}]
[null,{"$f":"+'Annualized Revenue Operating'!B10","v":"Late/Admin/Other Fee Income"},{"$f":"+'Annualized Revenue Operating'!D10","v":0},{"$f":"+C11*(1+Assumptions!$C$10)","v":0},{"$f":"+D11*(1+Assumptions!$C$10)","v":0},{"$f":"+E11*(1+Assumptions!$C$10)","v":0},{"$f":"+F11*(1+Assumptions!$C$10)","v":0},{"$f":"+G11*(1+Assumptions!$C$10)","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B11","v":"Retail Product Sales (locks, boxes, etc.)"},{"$f":"+'Annualized Revenue Operating'!D11","v":0},{"$f":"+C12*(1+Assumptions!$C$10)","v":0},{"$f":"+D12*(1+Assumptions!$C$10)","v":0},{"$f":"+E12*(1+Assumptions!$C$10)","v":0},{"$f":"+F12*(1+Assumptions!$C$10)","v":0},{"$f":"+G12*(1+Assumptions!$C$10)","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B12","v":"Tenant Insurance"},{"$f":"+'Annualized Revenue Operating'!D12","v":0},{"$f":"((('Annualized Revenue Operating'!N25*'Annualized Revenue Operating'!N33)*'Annualized Revenue Operating'!N32)*'Annualized Revenue Operating'!N31)*12","v":684.68399999999997},{"$f":"((('Annualized Revenue Operating'!N26*'Annualized Revenue Operating'!N34)*'Annualized Revenue Operating'!N32)*'Annualized Revenue Operating'!N31)*12","v":1160.4059999999999},{"$f":"((('Annualized Revenue Operating'!N27*'Annualized Revenue Operating'!N35)*'Annualized Revenue Operating'!N32)*'Annualized Revenue Operating'!N31)*12","v":1600.5600000000004},{"$f":"((('Annualized Revenue Operating'!N28*'Annualized Revenue Operating'!N36)*'Annualized Revenue Operating'!N32)*'Annualized Revenue Operating'!N31)*12","v":2000.7000000000003},{"$f":"+G13*(1+Assumptions!$C$10)","v":2060.7210000000005}]
[null,{"$f":"+'Annualized Revenue Operating'!B13","v":"Other Revenue"},{"$f":"+'Annualized Revenue Operating'!D13","v":0},{"$f":"+C14*(1+Assumptions!$C$10)","v":0},{"$f":"+D14*(1+Assumptions!$C$10)","v":0},{"$f":"+E14*(1+Assumptions!$C$10)","v":0},{"$f":"+F14*(1+Assumptions!$C$10)","v":0},{"$f":"+G14*(1+Assumptions!$C$10)","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B14","v":"Effective Gross Revenue"},{"$f":"SUM(C10:C14)","v":55080},65894.498999999996,77281.996710000007,84617.871280200008,87508.530618606004,90133.786537164196,null,{"$f":"(D15-C15)/C15","v":0.19634166666666661},{"$f":"(E15-D15)/D15","v":0.17281408740963355},{"$f":"(F15-E15)/E15","v":9.4923460605292123E-2},{"$f":"(G15-F15)/F15","v":3.4161333707320406E-2},{"$f":"(H15-G15)/G15","v":3.0000000000000138E-2}]
[]
[null,null,{"$f":"'Annualized Revenue Operating'!D16","v":"Owner Expenses Adjusted"}]
[null,"Operating Expenses"]
[null,{"$f":"+'Annualized Revenue Operating'!B18","v":"Marketing & Advertising"},{"$f":"+'Annualized Revenue Operating'!D18","v":1250},{"$f":"+C19*(1+Assumptions!$C$19)","v":1275},{"$f":"+D19*(1+Assumptions!$C$19)","v":1300.5},{"$f":"+E19*(1+Assumptions!$C$19)","v":1326.51},{"$f":"+F19*(1+Assumptions!$C$19)","v":1353.0401999999999},{"$f":"+G19*(1+Assumptions!$C$19)","v":1380.1010039999999}]
[null,{"$f":"+'Annualized Revenue Operating'!B19","v":"Retail Product Costs"},{"$f":"+'Annualized Revenue Operating'!D19","v":0},{"$f":"D12*0.5","v":0},{"$f":"E12*0.5","v":0},{"$f":"F12*0.5","v":0},{"$f":"G12*0.5","v":0},{"$f":"H12*0.5","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B20","v":"Bank & Credit Card Charges"},{"$f":"+'Annualized Revenue Operating'!D20","v":660.96},{"$f":"D15*'Annualized Revenue Operating'!$N$15*'Annualized Revenue Operating'!$N$21","v":790.73398799999995},{"$f":"E15*'Annualized Revenue Operating'!$N$15*'Annualized Revenue Operating'!$N$21","v":927.38396052000007},{"$f":"F15*'Annualized Revenue Operating'!$N$15*'Annualized Revenue Operating'!$N$21","v":1015.4144553624001},{"$f":"G15*'Annualized Revenue Operating'!$N$15*'Annualized Revenue Operating'!$N$21","v":1050.1023674232722},{"$f":"H15*'Annualized Revenue Operating'!$N$15*'Annualized Revenue Operating'!$N$21","v":1081.6054384459703}]
[null,{"$f":"+'Annualized Revenue Operating'!B21","v":"Insurance"},{"$f":"+'Annualized Revenue Operating'!D21","v":1897},{"$f":"+C22*(1+Assumptions!$C$19)","v":1934.94},{"$f":"+D22*(1+Assumptions!$C$19)","v":1973.6388000000002},{"$f":"+E22*(1+Assumptions!$C$19)","v":2013.1115760000002},{"$f":"+F22*(1+Assumptions!$C$19)","v":2053.3738075200004},{"$f":"+G22*(1+Assumptions!$C$19)","v":2094.4412836704005}]
[null,{"$f":"+'Annualized Revenue Operating'!B22","v":"Dues/Subscriptions & Licenses/Permits"},{"$f":"+'Annualized Revenue Operating'!D22","v":0},{"$f":"+C23*(1+Assumptions!$C$19)","v":0},{"$f":"+D23*(1+Assumptions!$C$19)","v":0},{"$f":"+E23*(1+Assumptions!$C$19)","v":0},{"$f":"+F23*(1+Assumptions!$C$19)","v":0},{"$f":"+G23*(1+Assumptions!$C$19)","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B23","v":"Off-Site Management Fees"},{"$f":"+'Annualized Revenue Operating'!D23","v":0},{"$f":"IF(C24=0, 0, IF(D15 * Assumptions!$C$20 > 24000, D15 * Assumptions!$C$20, 24000))","v":0},{"$f":"IF(D24=0, 0, IF(E15 * Assumptions!$C$20 > 24000, E15 * Assumptions!$C$20, 24000))","v":0},{"$f":"IF(E24=0, 0, IF(F15 * Assumptions!$C$20 > 24000, F15 * Assumptions!$C$20, 24000))","v":0},{"$f":"IF(F24=0, 0, IF(G15 * Assumptions!$C$20 > 24000, G15 * Assumptions!$C$20, 24000))","v":0},{"$f":"IF(G24=0, 0, IF(H15 * Assumptions!$C$20 > 24000, H15 * Assumptions!$C$20, 24000))","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B24","v":"Office/Site Supplies"},{"$f":"+'Annualized Revenue Operating'!D24","v":468},{"$f":"+C25*(1+Assumptions!$C$19)","v":477.36},{"$f":"+D25*(1+Assumptions!$C$19)","v":486.90720000000005},{"$f":"+E25*(1+Assumptions!$C$19)","v":496.64534400000008},{"$f":"+F25*(1+Assumptions!$C$19)","v":506.5782508800001},{"$f":"+G25*(1+Assumptions!$C$19)","v":516.70981589760015}]
[null,{"$f":"+'Annualized Revenue Operating'!B25","v":"Postage & Handling"},{"$f":"+'Annualized Revenue Operating'!D25","v":250},{"$f":"+C26*(1+Assumptions!$C$19)","v":255},{"$f":"+D26*(1+Assumptions!$C$19)","v":260.10000000000002},{"$f":"+E26*(1+Assumptions!$C$19)","v":265.30200000000002},{"$f":"+F26*(1+Assumptions!$C$19)","v":270.60804000000002},{"$f":"+G26*(1+Assumptions!$C$19)","v":276.0202008}]
[null,{"$f":"+'Annualized Revenue Operating'!B26","v":"On-Site Management & Payroll"},{"$f":"+'Annualized Revenue Operating'!D26","v":2500},{"$f":"+C27*(1+Assumptions!$C$19)","v":2550},{"$f":"+D27*(1+Assumptions!$C$19)","v":2601},{"$f":"+E27*(1+Assumptions!$C$19)","v":2653.02},{"$f":"+F27*(1+Assumptions!$C$19)","v":2706.0803999999998},{"$f":"+G27*(1+Assumptions!$C$19)","v":2760.2020079999998}]
[null,{"$f":"+'Annualized Revenue Operating'!B27","v":"Repairs & Maintenance"},{"$f":"+'Annualized Revenue Operating'!D27","v":2080},{"$f":"+C28*(1+Assumptions!$C$19)","v":2121.6},{"$f":"+D28*(1+Assumptions!$C$19)","v":2164.0320000000002},{"$f":"+E28*(1+Assumptions!$C$19)","v":2207.3126400000001},{"$f":"+F28*(1+Assumptions!$C$19)","v":2251.4588928000003},{"$f":"+G28*(1+Assumptions!$C$19)","v":2296.4880706560002}]
[null,{"$f":"+'Annualized Revenue Operating'!B28","v":"Real Estate Taxes"},{"$f":"+'Annualized Revenue Operating'!D28","v":4179},{"$f":"+C29*(1+Assumptions!$C$19)","v":4262.58},{"$f":"D29*150%","v":6393.87},{"$f":"+E29*(1+Assumptions!$C$19)","v":6521.7474000000002},{"$f":"+F29*(1+Assumptions!$C$19)","v":6652.1823480000003},{"$f":"+G29*(1+Assumptions!$C$19)","v":6785.2259949600002}]
[null,{"$f":"+'Annualized Revenue Operating'!B29","v":"Telephone & Internet"},{"$f":"+'Annualized Revenue Operating'!D29","v":863},{"$f":"+C30*(1+Assumptions!$C$19)","v":880.26},{"$f":"+D30*(1+Assumptions!$C$19)","v":897.86519999999996},{"$f":"+E30*(1+Assumptions!$C$19)","v":915.82250399999998},{"$f":"+F30*(1+Assumptions!$C$19)","v":934.13895407999996},{"$f":"+G30*(1+Assumptions!$C$19)","v":952.82173316159992}]
[null,{"$f":"+'Annualized Revenue Operating'!B30","v":"Utilities"},{"$f":"+'Annualized Revenue Operating'!D30","v":2607},{"$f":"+C31*(1+Assumptions!$C$19)","v":2659.14},{"$f":"+D31*(1+Assumptions!$C$19)","v":2712.3227999999999},{"$f":"+E31*(1+Assumptions!$C$19)","v":2766.5692559999998},{"$f":"+F31*(1+Assumptions!$C$19)","v":2821.9006411199998},{"$f":"+G31*(1+Assumptions!$C$19)","v":2878.3386539424}]
[null,{"$f":"+'Annualized Revenue Operating'!B31","v":"Other Expenses-"}]
[null,{"$f":"+'Annualized Revenue Operating'!B32","v":"Landscaping/Snow Removal"},{"$f":"+'Annualized Revenue Operating'!D32","v":580},{"$f":"+C33*(1+Assumptions!$C$19)","v":591.6},{"$f":"+D33*(1+Assumptions!$C$19)","v":603.43200000000002},{"$f":"+E33*(1+Assumptions!$C$19)","v":615.50063999999998},{"$f":"+F33*(1+Assumptions!$C$19)","v":627.81065279999996},{"$f":"+G33*(1+Assumptions!$C$19)","v":640.366865856}]
[null,{"$f":"+'Annualized Revenue Operating'!B33","v":"Software"},{"$f":"+'Annualized Revenue Operating'!D33","v":1250},{"$f":"+C34*(1+Assumptions!$C$19)","v":1275},{"$f":"+D34*(1+Assumptions!$C$19)","v":1300.5},{"$f":"+E34*(1+Assumptions!$C$19)","v":1326.51},{"$f":"+F34*(1+Assumptions!$C$19)","v":1353.0401999999999},{"$f":"+G34*(1+Assumptions!$C$19)","v":1380.1010039999999}]
[null,{"$f":"+'Annualized Revenue Operating'!B34","v":"Trash Removal"},{"$f":"+'Annualized Revenue Operating'!D34","v":0},{"$f":"+C35*(1+Assumptions!$C$19)","v":0},{"$f":"+D35*(1+Assumptions!$C$19)","v":0},{"$f":"+E35*(1+Assumptions!$C$19)","v":0},{"$f":"+F35*(1+Assumptions!$C$19)","v":0},{"$f":"+G35*(1+Assumptions!$C$19)","v":0}]
[null,{"$f":"+'Annualized Revenue Operating'!B35","v":"Outside Services - Fire, Pest, Security, etc."},{"$f":"+'Annualized Revenue Operating'!D35","v":109},{"$f":"+C36*(1+Assumptions!$C$19)","v":111.18},{"$f":"+D36*(1+Assumptions!$C$19)","v":113.40360000000001},{"$f":"+E36*(1+Assumptions!$C$19)","v":115.67167200000002},{"$f":"+F36*(1+Assumptions!$C$19)","v":117.98510544000001},{"$f":"+G36*(1+Assumptions!$C$19)","v":120.34480754880002}]
[null,{"$f":"+'Annualized Revenue Operating'!B36","v":0},{"$f":"+'Annualized Revenue Operating'!D36","v":0},{"$f":"+C37*(1+Assumptions!$C$19)","v":0},{"$f":"+D37*(1+Assumptions!$C$19)","v":0},{"$f":"+E37*(1+Assumptions!$C$19)","v":0},{"$f":"+F37*(1+Assumptions!$C$19)","v":0},{"$f":"+G37*(1+Assumptions!$C$19)","v":0}]
[]
[]
[]
[null,{"$f":"+'Annualized Revenue Operating'!B41","v":"Total Operating Expenses"},{"$f":"SUM(C19:C40)","v":18693.96},19184.393988,21734.955560520004,22239.137487362397,22698.299860063271,23162.766880938769]
[null,"Expense Ratio",{"$f":"C41/C15","v":0.33939651416122002},0.29113802030727937,0.28124215840437233,0.26281844663428916,0.25938385320387464,0.25698206822131275,null,{"$f":"(D41-C41)/C41","v":2.6234890199829289E-2},{"$f":"(E41-D41)/D41","v":0.13294981192084576},{"$f":"(F41-E41)/E41","v":2.3196823450525188E-2},{"$f":"(G41-F41)/F41","v":2.0646590856403361E-2},{"$f":"(H41-G41)/G41","v":2.0462634811372307E-2}]
[null,{"$f":"+'Annualized Revenue Operating'!B43","v":"Capital Reserves"},{"$f":"+'Annualized Revenue Operating'!C43","v":0},{"$f":"+Assumptions!C6*Assumptions!C21","v":934.40000000000009},{"$f":"+D43*(1+Assumptions!$C$19)","v":953.08800000000008},{"$f":"+E43*(1+Assumptions!$C$19)","v":972.14976000000013},{"$f":"+F43*(1+Assumptions!$C$19)","v":991.59275520000017},{"$f":"+G43*(1+Assumptions!$C$19)","v":1011.4246103040002}]
[null,{"$f":"+'Annualized Revenue Operating'!B44","v":"Net Operating Cash Flow"},{"$f":"+C15-C41-C43","v":36386.04},45775.705011999999,54593.953149480003,61406.584032837607,63818.638003342734,65959.595045921422]
[{"$nulls":9},{"$f":"(D44-C44)/C44","v":0.25805679903611378},{"$f":"(E44-D44)/D44","v":0.19264035660768786},{"$f":"(F44-E44)/E44","v":0.12478727936598402},{"$f":"(G44-F44)/F44","v":3.9280054549448051E-2},{"$f":"(H44-G44)/G44","v":3.3547520122045656E-2}]
[]
[null,"Unleveraged Financial Summary",null,"Year 1","Year 2","Year 3","Year 4","Year 5"]
[]
[null,"  Net Operating Cash Flow",null,{"$f":"+D44","v":45775.705011999999},{"$f":"+E44","v":54593.953149480003},{"$f":"+F44","v":61406.584032837607},{"$f":"+G44","v":63818.638003342734},{"$f":"+H44","v":65959.595045921422}]
[null,"  Acquisition",{"$f":"-Assumptions!F24","v":-750421.39363934426}]
[null,"  Residual Value Year 5",{"$nulls":5},{"$f":"+H49/Assumptions!C25","v":942279.92922744877}]
[]
[null,"Total Cash Flow Before Taxes",{"$f":"SUM(C49:C52)","v":-750421.39363934426},{"$f":"SUM(D47:D52)","v":45775.705011999999},{"$f":"SUM(E47:E52)","v":54593.953149480003},{"$f":"SUM(F47:F52)","v":61406.584032837607},{"$f":"SUM(G47:G52)","v":63818.638003342734},{"$f":"SUM(H47:H52)","v":1008239.5242733702}]
[]
[null,"Return on Investment",null,{"$f":"+D53/-$C53","v":6.0999999999999999E-2},{"$f":"+E53/-$C53","v":7.275106175306896E-2},{"$f":"+F53/-$C53","v":8.182946882022113E-2},{"$f":"+G53/-$C53","v":8.5043734819231775E-2},{"$f":"(+H53+C53)/-$C53","v":0.34356447300053178}]
[]
[null,"Unleveraged IRR",null,null,null,"Unleveraged IRR",null,{"$f":"+IRR(C53:H53)","v":0.11673076699448637}]
[]
[null,"Leveraged Financial Summary",null,"Year 1","Year 2","Year 3","Year 4","Year 5"]
[]
[null,"  Net Operating Cash Flow",null,{"$f":"+D49","v":45775.705011999999},{"$f":"+E49","v":54593.953149480003},{"$f":"+F49","v":61406.584032837607},{"$f":"+G49","v":63818.638003342734},{"$f":"+H49","v":65959.595045921422}]
[null,"  Acquisition",{"$f":"-Assumptions!F24","v":-750421.39363934426}]
[null,"  Loan Principal",{"$f":"+Assumptions!F26","v":450252.83618360653}]
[null,"  Loan Origination Fees and Costs",{"$f":"-Assumptions!F27","v":-9005.0567236721308}]
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[null,"  Residual Value Year 5",{"$nulls":5},{"$f":"+H61/Assumptions!C25","v":942279.92922744877}]
[null,"  Residual Remaining Loan Value",{"$nulls":5},{"$f":"-Assumptions!C37","v":-408467.40708563238}]
[]
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[]
[null,"Return on Investment",null,{"$f":"+D69/-$C69","v":7.5242718446601936E-2},{"$f":"+E69/-$C69","v":7.4842786581313103E-2},{"$f":"+F69/-$C69","v":9.6877755190905745E-2},{"$f":"+G69/-$C69","v":0.10467937169335877},{"$f":"(+H69+C69)/-$C69","v":0.83818266759036053}]
[]
[null,"Leveraged IRR",null,null,null,"Leveraged IRR",null,{"$f":"+IRR(C69:H69)","v":0.18893725058079425}]
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[null,"DSCR",null,{"$f":"-D44/D65","v":2.0333333333333332},{"$f":"-E44/E65","v":1.7356463026777509},{"$f":"-F44/F65","v":1.9522328827305366},{"$f":"-G44/G65","v":2.0289166968574182},{"$f":"-H44/H65","v":2.0969818205711968}]
[null,"Debt Yield",null,{"$f":"D44/$C$63","v":0.10166666666666667},{"$f":"E44/$C$63","v":0.12125176958844827},0.13638244803370189,0.14173955803205296,0.14649456870722311]

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[null,"INSTRUCTIONS: FILL IN Items highlighted in YELLOW"]
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[null,"ANNUALIZED REVENUE AND OPERATING EXPENSES"]
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[null,"Description","Current Income","Current Income"]
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[null,"          -Year 2",0.85,null,"Acquisition $/SF",{"$f":"F24/(C6+C8)","v":80.31050873708736},{"$nulls":11},{"$f":"'Unit Mix'!G12","v":0},{"$f":"'Unit Mix'!H12","v":0},{"$f":"'Unit Mix'!I12","v":0}]
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[null,"          -Year 4",0.9,{"$nulls":14},{"$f":"'Unit Mix'!G14","v":0},{"$f":"'Unit Mix'!H14","v":0},{"$f":"'Unit Mix'!I14","v":0}]
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[null,"Trailing Storage Potential Gross Rental Income ",{"$f":"SUM('Rent Roll'!E12:E68)*12","v":84414},{"$nulls":14},{"$f":"'Unit Mix'!G16","v":0},{"$f":"'Unit Mix'!H16","v":0},{"$f":"'Unit Mix'!I16","v":0}]
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[null,"Management Fees as Percentage Total Revenue",0,{"$nulls":14},{"$f":"'Unit Mix'!G19","v":0},{"$f":"'Unit Mix'!H19","v":0},{"$f":"'Unit Mix'!I19","v":0}]
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[null,"Financing Assumptions",{"$nulls":15},{"$f":"'Unit Mix'!#REF!","v":{"$error":"#REF!"}},{"$f":"'Unit Mix'!#REF!","v":{"$error":"#REF!"}},{"$f":"'Unit Mix'!#REF!","v":{"$error":"#REF!"}}]
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[]
["Isaacs Mini Storage"]
["1745 E Isaacs Avenue, Walla Walla, WA 99362"]
["Unit Size",null,null,"Type",null,null,null,"Website Rate","PSF","On-Site Rate","PSF"]
["ELITE STORAGE",null,null,"417 Wellington Ave","Walla Walla","WA ",9.3399999999999997E-2]
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[]
["Storage Quest Self Storage",null,null,"2340 Melrose St","Walla Walla","WA ",0.4859]
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[10,"x",10,"Drive Up",null,null,null,40,0.4,79,0.79]
[10,"x",15,"Drive Up",null,null,null,45,0.3,89,0.59333333333333338]
[10,"x",20,"Drive Up",null,null,null,60,0.3,119,0.59499999999999997]
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[]
["Eastside Mini-Storage",null,null,"2281 E Isaacs Ave","Walla Walla","WA ",0.67569999999999997]
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[]
["Storelocal Storage",null,null,"2548 E Isaacs Ave","Walla Walla","WA ",0.82269999999999999]
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["Isaacs Mini Storage",null,null,"1745 E Isaacs Avenue, Walla Walla, WA 99362"]
[10,"x",14,"Drive Up",{"$nulls":5},160,1.1428571428571428]
[10,"x",20,"Drive Up",{"$nulls":5},175,0.875]

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[]
["2025 OPERATING EXPENSES","Annual",null,"Monthly"]
["Real Estate Taxes",4179.43,null,{"$f":"$B4/12","v":348.28583333333336}]
["Property Insurance",1896.51,null,{"$f":"$B5/12","v":158.04249999999999}]
["Management",0,null,0]
["Maintenance",2080,null,{"$f":"$B7/12","v":173.33333333333334}]
["Advertising",0,null,0]
["Credit Card Processing",164.1,null,13.674999999999999]
["Internet",719.4,null,59.949999999999996]
["Electricity",516,null,43]
["Website & Software",2174.3200000000002,null,181.19333333333336]
["Phone",144,null,12]
["Security Cameras",108.9,null,9.0750000000000011]
["Office Supplies / PO BOX",{"$f":"136+332","v":468},null,39]
["City Utilities (Storm Water, Ambulance, Etc.)",2091.1999999999998,null,174.26666666666665]
["Totals:",{"$f":"SUM(B4:B16)","v":14541.86}]

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["RENT ROLL AS OF 09.01.2025"]
[]
[]
["VACANT UNITS",null,null,"MARKET RATE ASSUMPTIONS",null,null,"NOTES / RENT INCREASE HISTORY"]
["10x20 =",11,null,"PSF Standard Rate @",0.94,null,"*Rental Rates Pre-2021 were $45/month for 10x20 Units, and $40/month for 10x14 Units. 100% Occupied"]
["10x14 =",3,null,"10'x20' =",{"$f":"200*$E$5","v":188},null,"*In August 2022, Owner raised rents to $175/month for 10x20 Units, and $160 for 10x14 Units."]
["5x6 =",2,null,"10'x14' =",{"$f":"140*$E$5","v":131.6},null,"*Vacant units remodeled in 2024/2025"]
["4x6 =",3,null,"5'x6' =",{"$f":"60*$E$5","v":56.4}]
[null,null,null,"4'x6' =",{"$f":"24*$E$5","v":22.56}]
[]
["Unit","Unit Type","Customer","Move-in Date","Standard Rate @ Move-in","Variance from Move-in Rate","Current Rent","Anticipated Market Rate","Notes/History"]
[1,"10 x 20","Hunter Swopes","2025-09-01",130,{"$f":"G12-E12","v":0},130,{"$f":"$E$6","v":188},"50% off first 2 months"]
["1A","10 x 14","James Pedersen","2022-09-01",160,{"$f":"$G13-$E13","v":-10},150,{"$f":"$E$7","v":131.6},"Discounted Rent from $160 in March 2023"]
[2,"10 x 20","William Jordan","Pre-2021",160,{"$f":"$G14-$E14","v":-30},130,{"$f":"$E$6","v":188},"Discounted Rent from $160 in June 2023. Long Term Tenant"]
["2A","10 x 14","Tim Durst","Pre-2021",160,-30,130,{"$f":"$E$7","v":131.6},"Discounted Rent from $160 in April 2023. Long Term Tenant"]
[3,"10 x 20","VACANT - NEED TO UPDATE","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
["3A","10 x 14","Shannon McClellan","2023-03-21",145,0,145,{"$f":"$E$7","v":131.6}]
[4,"10 x 20","Mona J Seifert","2022-03-01",160,-50,110,{"$f":"$E$6","v":188},"Friend of a friend discount"]
["4A","10 x 14","VACANT - NEED TO UPDATE","VACANT",132,-132,0,{"$f":"$E$7","v":131.6}]
[5,"10 x 20","Isaacs Mini Storage Tools","2024-10-01",125,0,125,{"$f":"$E$6","v":188},"Owner's Unit - Tools etc"]
["5A","10 x 14","Tim Durst","2025-03-01",130,-65,65,{"$f":"$E$7","v":131.6},"Multi Unit Discount + Long Term Tenant"]
[6,"10 x 20","VACANT - NEED TO UPDATE","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
["6A","10 x 14","VACANT - UPDATED/REMODELED 2025","VACANT",132,-132,0,{"$f":"$E$7","v":131.6}]
[7,"10 x 20","Mike & Dawn Leistiko","Pre-2021",175,-50,125,{"$f":"$E$6","v":188},"Discounted rate from $175 in June 2025. Long Term Tenant."]
["7A","10 x 14","Cesar Zuniga","2025-03-17",135,-50,85,{"$f":"$E$7","v":131.6},"Friend discount"]
[8,"10 x 20","Briston Stone","Pre-2021",175,-17.5,157.5,{"$f":"$E$6","v":188},"Multi Unit Discount + Long Term Tenant"]
["8A","10 x 14","Jeff Callow","Pre-2021",160,0,160,{"$f":"$E$7","v":131.6},"Long Term Tenant"]
[9,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
["9A","10 x 14","VACANT - UPDATED/REMODELED 2025","VACANT",132,-132,0,{"$f":"$E$7","v":131.6}]
[10,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
["10A","10 x 14","Michael Thomas","2022-08-01",135,-20,115,{"$f":"$E$7","v":131.6},"Owner's Unit (Kept vacant in case needing to pull electricity for exit gate)"]
[11,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
[12,"5 x 6","VACANT - NEVER MARKETED","VACANT",20,-20,0,{"$f":"$E$8","v":56.4}]
[13,"5 x 6","VACANT - NEVER MARKETED","VACANT",20,-20,0,{"$f":"$E$8","v":56.4}]
[14,"6 x 4","Judi Robinson","Pre-2021",15,0,15,{"$f":"$E$9","v":22.56},"Long Term Tenant"]
[15,"6 x 4","Julie Jones c/o Valley Residential","Pre-2021",15,45,60,{"$f":"$E$9","v":22.56},"Long Term Tenant. Tenant moved from a 10x14' unit to save $ "]
[16,"6 x 4","Ron Romanik","Pre-2021",15,5,20,22.56,"Long Term Tenant"]
[17,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,{"$f":"$E$6","v":188}]
[18,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,188]
[19,"10 x 20","Bob Marker","Pre-2021",175,0,175,188,"Long Term Tenant (Out of State)"]
[20,"10 x 20","Jeff Wilcox","Pre-2021",150,-25,125,188,"Discounted rate from $150 in October 2024. Multi Unit Discount + Long Term Tenant "]
[21,"10 x 20","Steve Lenz","2023-05-25",160,0,160,188]
[22,"10 x 20","Melvin Douglas","Pre-2021",157,-22,135,188,"Discounted rate from $157 in August 2022. Multi Unit Discount + Long Term Tenant "]
[23,"10 x 20","Dan & Becky Thomas","2025-04-01",125,0,125,188,"Family. Annual Lease"]
[24,"10 x 20","Patricia Johnson","2024-07-08",125,-25,100,188,"Family Friend Discount"]
[25,"10 x 20","Darran Maestretti","Pre-2021",155,-20,135,188,"Discounted rate from $155 in August 2022. Annual Lease. Long Term Tenant"]
[26,"10 x 20","Jeff Wilcox","Pre-2021",150,-25,125,188,"Discounted rate from $150 in October 2024. Multi Unit Discount + Long Term Tenant "]
[27,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,188]
[28,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,188]
[29,"10 x 14","Sheryl Balough","Pre-2021",145,-15,130,{"$f":"$E$7","v":131.6},"Discounted rate from $145 in April 2024. Long Term Tenant"]
[30,"10 x 20","Michael Thomas","2022-05-01",125,0,125,{"$f":"$E$6","v":188},"Owners Unit"]
[31,"10 x 20","Gregory S Fink","Pre-2021",80,0,80,188,"Long Term Tenant. Raised rent from $45/month to $80/month in August 2024"]
[32,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,188]
[33,"10 x 20","Bryan Winn","Pre-2021",145,0,145,188,"Long Term Tenant"]
[34,"10 x 20","Nick Scrivner","2024-02-01",110,0,110,188,"Family Friend Discount. Pays Annually."]
[35,"10 x 20","Kristina Douglas PR","Pre-2021",157,-22,135,188,"Discounted rate from $157 in March 2025"]
[36,"10 x 20","Briston Stone","Pre-2021",157.5,0,157.5,188,"Multi Unit Discount + Long Term Tenant"]
[37,"10 x 20","Jeff Wilcox","Pre-2021",150,-25,125,188,"Discounted rate from $150 in October 2024. Multi Unit Discount + Long Term Tenant "]
[38,"10 x 20","Craig French","2024-12-08",160,-60,100,188,"Multi Unit Discount on Unit 38 Only."]
[39,"10 x 20","Dan & Becky Thomas","2025-08-26",125,0,125,188,"Family. Annual Lease"]
[40,"10 x 20","Amber Leavitt","2024-09-01",135,0,135,188]
[41,"10 x 20","Melvin Douglas","Pre-2021",157,-22,135,188,"Discounted rate from $157 in August 2022. Multi Unit Discount + Long Term Tenant "]
[42,"10 x 20","VACANT - UPDATED/REMODELED 2025","VACANT",130,-130,0,188]
[43,"10 x 20","Craig French","2023-05-01",160,0,160,188]
[44,"10 x 20","Nelson \"Billy\" Zuniga","2025-03-01",125,0,125,188,"Gas Station Tenant - Discount.  Free Unit in return for closing gates"]
[45,"6 x 4","VACANT - NEVER MARKETED","VACANT",15,-15,0,{"$f":"$E$9","v":22.56},"Never Marketed"]
[46,"6 x 4","VACANT - NEVER MARKETED","VACANT",15,-15,0,22.56,"Never Marketed"]
[47,"6 x 4","VACANT - NEVER MARKETED","VACANT",15,-15,0,22.56,"Never Marketed"]
[]
[{"$nulls":4},"Total Current Rents:",null,{"$f":"SUM(G12:G68)","v":4590}]
[]
[{"$nulls":4},"Total Market Rents:",null,null,{"$f":"SUM(H12:H68)","v":8839.7599999999984}]