Location Details
Property
Total SF6,025
Average Suite SF150
Number of Suites32
Occupancy88%
Tenant Improvement
TI Per SF$125.00
TI Total$753,125
Lease Terms
Lease Term120 months
Rent Per SF$18.00
NNN Per SF$2.59
Rent + NNN Per SF$20.59
Additional Rent Per SF (TI Amort)$7.50
Total Rent Per SF$28.09
* TI amortized at $7.50/SF over 10-year term
* Clutch self-performs construction at $120/SF
* 32 suites at 150 SF (80% rentable efficiency)
* $225 / $250 / $275 weekly tier pricing
* 3% annual rent escalation Year 2+
* 90-day rent abatement during buildout
* New construction (2023) — zero deferred maint
Construction
FF&E
Styling Chair
20
$270
$5,400
Styling Station
15
$250
$3,750
Shampoo Station
20
$750
$15,000
Wet Bar
12
$2,500
$30,000
Liberty Hair Dryer on Wheels
0
$100
—
Reception Desk/Counter
1
$1,500
$1,500
TV & Computer for Lobby
3
$1,000
$3,000
Waiting Benches and Chairs
2
$250
$500
Individual Suite Signs
32
$60
$1,920
Washer/Dryer
4
$1,300
$5,200
Security System
2
$3,500
$7,000
Cameras & Key Swipe
4
$1,250
$5,000
Exterior Brand Sign
1
$15,000
Interior Brand Sign
1
$2,500
Total FF&E
$95,770
Drawings & Design
Architectural Drawings
$15,000
As Built Drawings
—
MEP Drawings
$15,000
Total Drawings & Design
$30,000
Construction
Construction Cost @$120/SF
$723,000
Construction Mgt Fee
—
Total Construction
$723,000
Additional Project Costs
Legal (Lease & Agreement)
$2,500
Lease Security Deposit 2 × $40K
$80,000
Marketing
$5,000
Insurance & Utility Deposits
$2,500
Business License
$200
Salon Suites Solutions Setup
$2,500
Operating Capital (per mo expenses)
—
Total Additional
$92,700
Total Projected Cost
$941,470
Project Financing
TI Allowance
$753,125
Total Out of Pocket
$188,345
Cost PSF (out of pocket)
$31.26
Cash Deposit Required
0%
Loan + Orig. Fee
0.00%
Operations
Expense
Monthly
Annual
Occupancy Cost
Rent
$9,037.50
$108,450
NNN
$1,300.00
$15,600
Rent + NNN
$10,337.50
$124,050
Additional Rent (TI Amort)
$3,765.63
$45,188
Total Occupancy
$14,103.13
$169,238
Operating Expenses
Payroll — On Site Manager$3,500.00$42,000
Electric$1,200.00$14,400
Gas$800.00$9,600
Water + Sewer$1,000.00$12,000
Phone/Internet$500.00$6,000
Security$400.00$4,800
Insurance (GL)$200.00$2,400
Bank Service Charges$150.00$1,800
Supplies$500.00$6,000
Maintenance/Repairs$500.00$6,000
Painting——
Website & Domain$250.00$3,000
Site Cleaning (2×/week)$1,000.00$12,000
Waste Collection$400.00$4,800
Marketing$500.00$6,000
App Fee$200.00$2,400
Account & Legal$300.00$3,600
Total Operating Expenses
$11,400.00
$136,800
Suite Rental
Type
Wkly Rate
# Stes
Total/Wk
Open Room (no sink)
$225
10
$2,250
Standard (sink)
$250
13
$3,250
Premium (sink + washbowl)
$275
9
$2,475
Day Use Suites
—
0
—
Total
32
$7,975
Est Income (100% Occupancy)
Weekly Rental Income$7,975
Yearly Rental Income$414,700
Monthly Rental Income$34,558.33
Income Monthly
$34,558.33
Expenses Monthly
($25,503.13)
Loan Monthly
$0.00
Monthly Profit
$9,055.20
Annual Profit
$108,662