Laserfiche WebLink
JCPENNEY COMPANY, iNC <br />Fargo, ND (West Acres SIC) .STORE #1994 <br />ESTIMATE OF FULL CASH VALUE <br />AS OF JANUARY 1, 2009 <br />PIN # 029-25-3958-000 <br />EXHIBIT 1 -INCOME APPROACH BASED ON PERCENTAGE RENT <br />Gross Building Area 138,850 SF <br />Gross Sales History <br />Twelve Months Ending <br />January 31, 2006 <br />January 31, 2007 <br />January 31, 2008 <br />January 31, 2009 <br />5tabiliaed Sales <br />Rent Percentage <br />3% of first $125/SF <br />2°~ of sales between $125 and $175 <br />1 % of sales exceeding $175 <br />Gross Potential Income <br />Less: Vacancy & Collection Loss (2%) <br />Effective Gross Income <br /> Total Per SF <br /> <br />$ 25,883,138 $ 188.41 <br />$ 26,806,006 $ 193.06 <br />$ 27,099,418 $ 195.17 <br />$ 26,001,360 $ 187.26 <br />$ 26,447,481 $ 190.48 <br />$ 520,688 $ 3.75 <br />$ 138,850 $ 1.00 <br />$ 17,023 $ 0.12 <br />$ 676,561 $ 4.87 <br />$ 13,531 $ 0.10 <br />$ 663,029 $ 4.78 <br />Expenses of Landlord <br />Estimated ~ 5°r6 <br />Net Operating Income <br />Capitalization Rate <br />Indicated Value of Economic Unit <br />$ 33,151 $ 0.24 <br />$ 629,878 $ 4.54 <br />9.00% <br />$ 6,998,643 $ 50.40 <br />~$t~t»a#ed'INlark~t:Val:u:eaf Tax~Parcel ` . :. ~~,OOO~O~Q <br />199330_1.XLS <br />