NVI Technical College Information

A DDENDA G

I NSURABLE V ALUE The opinion of insurable value is included at the request of the client and has not been performed by a qualified insurance agent or risk management underwriter. This cost estimate should not be solely relied upon for insurable value purposes. The appraisers are not familiar with the definition of insurable value from the insurance provider, the local governmental underwriting regulations, or the types of insurance coverage available. These factors can impact cost estimates and are beyond the scope of the intended use of this appraisal. The appraisers are not cost experts in cost estimating for insurance purposes.

INSURABLE REPLACEMENT COST

Replacement Cost New (RCN) Building Improvements Base Cost

Area (SF)

$/SF

Subtotal

77,007 77,007

$88.50 $6,815,120

Sprinklers Subtotal Multipliers

$2.60

$200,218

$7,015,338

Current Cost Local Area

1.130 1.000 0.843 1.000

Area Multiplier

Story Height

Product of Multipliers Adjusted Base Building Cost

x 0.953

$6,685,617

Less: Insurance Exclusions Total Insurance Exclusion Adjustment

10.00% ($668,562)

Insurable Replacement Cost Rounded to nearest $10,000

$6,017,055 $6,020,000

Source: Marshall Valuation Service Type: Industrial Flex Buildings

Section: 14 Class: S

INSURABLE REPLACEMENT COST

Replacement Cost New (RCN) Building Improvements Base Cost

Area (SF)

$/SF

Subtotal

89,400 89,400

$61.00 $5,453,400

Sprinklers Subtotal Multipliers

$2.49

$222,606

$5,676,006

Current Cost Local Area

1.130 1.000 0.841 1.000

Area Multiplier

Story Height

Product of Multipliers Adjusted Base Building Cost

x 0.950

$5,392,206

Less: Insurance Exclusions Total Insurance Exclusion Adjustment

10.00% ($539,221)

Insurable Replacement Cost Rounded to nearest $10,000

$4,852,985 $4,850,000

Source: Marshall Valuation Service Type: Industrial Flex Buildings

Section: 14 Class: S

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