NVI Technical College Information

Technical Feasibility

in 2004 consisting of 57,609 ± square feet of RBA. The land area

Improvements Description

The school is a fully equipped project that includes single-tenant

has two contiguous parcels.

industrial buildings that comprise a campus of three buildings

totaling 282,125 ± square feet of net rentable area ( “ RBA ” ) on about

Historical Usage Table

26.419 ± acres. The existing improvements historically have been

Historical Usage Year

2008 2009 2010 2011 2012

used for the same purpose as the proposed school project. The

No. Students

1,158 1,176 1,420 1,347 1,221

improvements have been unoccupied since January of 2019.

A

Year

2013 2014 2015 2016 2017

No. Students

976

742

405

312

313

The improvements include administrative offices, classrooms and

work shops which provide for a vocational school setting. No

Year

2018

No. Students

160

known modifications to the buildings are required. There are four

detached buildings which are identified as Building 1 at 500

Innovation Drive, which was built in 2004 having 77,007 ± square

Commercial Replication

feet of RBA (Administration/Street Rod); Building II which has

Vocational educational facilities are not difficult to replicate

89,400 ± square feet of RBA located at 277 Cornell Road,

commercially.

The primary barriers to entry are 1) location -a

constructed in 2006; Building III (Automotive) located at 406 Cornell

school must be strategically located in a market of unmet demand

Road, built in 2003 having 58,109 ± square feet of RBA and Building

2) land availability, whereas land cost could be prohibitive if too

IV (Collision, Trim, and Refinishing) at 408 Cornell Road, constructed

costly 3) the amount of capital required.

Source: USDA, Wert-Berater Feasibility Studies, LLC and the Management of the Company

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