Page 45 - FLEXCAVES BIZ PLAN - April 2025 v2.0
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LOAN SUMMARY
& Project Overview
FLEXCAVES™ is a groundbreaking commercial real estate concept that merges high-end storage, flexible workspace
solutions, and premium lifestyle amenities into a single, scalable product. Designed for business owners, vehicle
enthusiasts, entrepreneurs, and professionals seeking versatile, secure, and customizable spaces, FLEXCAVES™ fills a
void in the market where traditional storage, office space, and co-working solutions fail to meet modern consumer needs.
The first FLEXCAVES™ development will be located in Martin City, MO.
' Capital Stack & Sources
• Total Development Budget: $13-$15M
• Land Cost: $1,500,000
• LP Equity: $2.5 - $3M
• Total Loan Request (Construction): $11 - $12M
• Loan to Value (LTV): 65%
( Construction Details
• Hard Costs: $10,834,500
• Construction Cost/SF: $235.00
• Construction Period: 8 months
• Contingency: 5%
• Retainage: 10%
• Construction Interest: $325,035
) Loan Terms (Proposed)
• Construction Loan Request: $11.5M
• Term: 18–24 months including lease-up
• Permanent Loan Takeout
! Pro Forma Highlights
• Debt Coverage Ratio (DCR):
• Year 1: 1.30
• Year 15: 1.92
• Stabilized Operating Expenses: $494,990 annually
• Per Unit OpEx: $11,519
