Page 46 - FLEXCAVES BIZ PLAN - April 2025 v1.0
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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
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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
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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)
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Construction Loan Request: $11.5M
Term: 18–24 months including lease-up
Permanent Loan Takeout
📈 Pro Forma Highlights
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Debt Coverage Ratio (DCR):
Year 1: 1.30
Year 15: 1.92
Stabilized Operating Expenses: $494,990 annually
Per Unit OpEx: $11,519
