Laserfiche WebLink
JCPENNEY COMPANY, INC <br />Fargo, ND (West Acres SIC) ~ STORE #1994 <br />ESTIMATE OF FULL CASH VALUE <br />AS OF JANUARY '!,` 2009 <br />PIN # 029-25-3958-000 <br />EXHIBIT 2 -RENT REQUIRED TO SUPPORT ASSESSOR'S VALUE <br />Grass Building Area 138,850 SF <br />Gross Sales History <br />Twelve Months Ending <br />January 31, 200fi <br />January 31, 2007 <br />January 31, 2008 <br />January 31, 2009 <br />Stabilized Sales <br />Gross Buiiding Area <br />Estimated Market Rent Per Sq Ft <br />Gross Potential Income <br />Less: Vacancy & Collection Loss (2%) <br />Effective Gross Income <br />Expenses of Landlord <br />Estimated (~ 5% <br />Net Operating Income <br />Capitalization Rate <br />Indicated Value of Economic Unit <br />Total Per SF <br />$ 25, 883,138 $ 186.41 <br />$ 28,806,006 $ 193.06 <br />$ 27,099,418 $ 195.17 <br />$ 26, 001, 360 $ 187.26 <br />$ 28,635,595 $ 191.83 <br />$ 138,850 <br />$ 6.60 <br />$ 915,796 $ 6.60 <br />$ (18,318) <br />$ 897,480 $ 8.46 <br />$ (44,874) $ (0.32) <br />$ 852,606 $ 6.14 <br />9.00% <br />$ 9,473,400 $ 68.23 <br />~st~mated>•Ma~rke~~:V`~r.l."ue.o~~`ax~;P~rce~ $ 9,~~~,40a . <br />Regffire~.d'Rer~t:St~t~d° a~. °Io:.c~f Sales ,~ 3':44°7a <br />199330_i.XLS <br />