NVI Technical College Information

I NCOME C APITALIZATION A PPROACH 60

COMPARABLE LEASE SURVEY

Bldg. Size (SF Gross)

Year Built 1958

Overall Occ. % 100.0%

Lease End Date

Unit Size (SF)

Lease Rate ($/SF/Yr)

Expense Structure

Comp No. Property Name / Location

Tenant

Lease Start

Lease Term

Tenancy Type

Lease 1 Hedwigs

22,632

Confidential

Jul-2023

Jul-2033 120 mos.

22,632

$6.00

NNN

1009 Sycamore Street Wilmington, DE

Lease 2 100 Red Schoolhouse Road 100 Red Schoolhouse Road Spring Valley, NY Lease 3 53-59 School Ground Rd 53-59 School Ground Road Branford, CT

154,330

1985

85.0%

Listing

Jul-2023

Jul-2028 60 mos.

28,000

$16.00

NNN Industrial|Indu strial

47,700

1990

100.0%

Confidential

Dec-2022

Dec-2025 36 mos.

10,000

$9.50

NNN Industrial|Indu strial

Lease 4 492 Drum Ave

221,200

1979

100.0% Augustine Plastics

Apr-2022

Apr-2032 120 mos.

221,200

$5.50

NNN Industrial|Indu strial

492 Drum Avenue Somerset, PA

Minimum Maximum

1958 85.0% 1990 100.0% 1978 96.3%

$5.50

$16.00

Average

$9.25

Subject

282,125

2004 100.0%

F OUR B UILDING I NDUSTRIAL C OMPLEX A PPRAISAL

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