The

DORAN JASON

Group of Tampa Inc.
Realtors

Financial Summary

As part of the market study for this property, Cantera Consultants & Advisors developed a back door approach using CCIM methodologies that compared the overall project costs to the potential sales value for the completed project based on  a fixed development budget for the community.  Given the strong demand for apartments (15% of Tampa’s supply has been converted in the last couple of years), For Rent product was analyzed and concluded a value range of $22M to $32M based on the rent per sf range of $1.58 to $1.68 for the two bedrooms and $2.03 for the studios.

 

For Sale product at $275/sf, $325/sf and $375/sf was compared to arrive at a value range for the land of $26M to $63M averaging $46M across all condo sales ranges.

 

The complete financial model that arrived at these land values is included in the confidential offering memorandum you will receive upon filling out and submitting the Confidential Agreement.

 

 

 

Suggested opening bid price of $32,000,000