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Rent Analysis: 6781 Highway 10 <br />Input Data (Property) <br />71,703.00 Square Feet, Total Property <br />22,000.00 Square Feet, Leasable <br />30.68% <br />Asking Price (Pro Power Request, entire property) <br />$ 6,000.00 Annual <br />$ 500.00 Monthly <br />$ 0.273 Per Square Foot <br />Fixed Costs (City) <br />$ 3,500.00 <br />$ 100.00 <br />$ 480.00 <br />$ 500.00 <br />$ 500.00 <br />Annual Detail <br />Taxes <br />Legal (2 year lease) <br />Finance/Prop Mgmt ($40 per month) <br />Property Maintenance Account <br />Property Insurance <br />Total <br />$ 5,080.00 Annual <br />$ 423.33 Monthly <br />$ 0.231 Per Square Foot <br />Staff Recommendation <br />Staff Proposal <br />$ 7,800.00 <br />$ 650.00 <br />$ 0.355 <br />Annual <br />Monthly <br />Per Square Foot <br />Revenue in Excess of Fixed Costs <br />$ 2,720.00 Annual <br />$ 226.67 Monthly <br />$ 0.124 Per Square Foot <br />Market Insight (outside storage, end user/retail price) <br />Lower End (without CAM, including Taxes) <br />8,800.00 Annual <br />733.33 Monthly <br />0.40 Per Square Foot <br />Higher End (without CAM, including taxes) <br />13,200.00 Annual <br />1,100.00 Monthly <br />0.60 Per Square Foot <br />Considerations <br />*Only user possible is Pro Power (very limited demand) <br />*Potential user expressed $500 is the max (entire property) <br />*Council has indicated they would like RALF leases to be <br />as close to the market as possible <br />*Based on previous lease w/Crystal Pierz, about $800 per mo <br />*Crystal Pierz expressed frustration (including rent rate) <br />*Based on input from Premier Commercial Realty, Staff's reccomendation <br />is reasonable given the circumstance. However, is sightly below market. <br />*Staff's recommendation covers all City fixed costs and more. <br />Additionally, Staff's recommendation is near market rate. Considering <br />how the negotiation process has transpired, Staff feels $650 per month is <br />a reasonable agreement for both parties. <br />