5s
800 Ottawa Avenue Northwest, Grand Rapids, Michigan 49503, United States•PURSUING•v1•Saved 4/28/2026

Deal Thesis

non-residential, wood V-A, on a 0.23-acre midblock parcel. Zoning UNKNOWN (unfamiliar district) supports ~0 SF buildable at FAR 1.0. Default tuck-under parking at 1.10/unit. Rents and costs from industry baselines; AI augmentation pending.

Why this scenarioDefault Balanced scenario from deterministic pipeline. DSCR 0.00, IRR 0.0%, EM 0.00x. AI augmentation pending — current rents and costs are industry baselines.

Cost basis vs. implied value over time

Stab. yr1 $0 → Yr11 $0
$0$43K$86K$129K$172KY0Y2Y4Y6Y8Y10Y11
Cost basis (acquisition + dev)Implied value (NOI ÷ exit cap)Underwater band

Equity cash flow + cumulative recovery

Never breaks even · End cumulative $-159K
$-175K$-131K$-87K$-44K$0Y0Y2Y4Y6Y8Y10Y11
Equity drawn (construction)Distributions to equityCumulative

Site

APN
—
Acreage
0.23 ac
Lot SF
10,000 SF
Frontage
0 LF

Zoning

District
—
Overlays
none
Confidence
LOW
800 Ottawa Avenue Northwest, Grand Rapids, Michigan 49503, United States parcel map

Concept / Program

Total Units
0
Residential SF
0
Retail SF
0
Parking
0 (tuck-under)
Buildable SF
0
Programmed SF
0
Efficiency
82%
Parking Ratio
1.10 / unit

Total Development Cost — $159,000

Line itemTotal% of TDC
Acquisition$150,00094.3%
▸Land acquisition$150,00094.3%
Formula
lot SF × $/SF heuristic by zoning category
Inputs
  • Lot SF10,000ArcGIS parcel
  • $/SF$15industry default for unknown
  • Computed$150K
source: baseline
Hard Costs (CSI)$00.0%
▸ 1General Requirements — General Requirements$00.0%
Quantity × Rate
0 SF_GBA × $16.25 = $0
source: baseline
▸ 3Concrete — Concrete / Foundations$00.0%
Quantity × Rate
0 SF_GBA × $18.58 = $0
source: baseline
▸ 4Masonry — Masonry$00.0%
Quantity × Rate
0 SF_GBA × $9.29 = $0
source: baseline
▸ 5Metals — Structural Steel / Framing$00.0%
Quantity × Rate
0 SF_GBA × $20.90 = $0
source: baseline
▸ 6Wood, Plastics, and Composites — Rough & Finish Carpentry$00.0%
Quantity × Rate
0 SF_GBA × $18.58 = $0
source: baseline
▸ 7Thermal and Moisture Protection — Thermal & Moisture Protection$00.0%
Quantity × Rate
0 SF_GBA × $9.29 = $0
source: baseline
▸ 8Openings — Doors, Windows, Storefront$00.0%
Quantity × Rate
0 SF_GBA × $11.61 = $0
source: baseline
▸ 9Finishes — Finishes (drywall, flooring, paint)$00.0%
Quantity × Rate
0 SF_GBA × $23.22 = $0
source: baseline
▸ 10Specialties — Specialties$00.0%
Quantity × Rate
0 SF_GBA × $4.64 = $0
source: baseline
▸ 12Furnishings — Furnishings / Appliances$00.0%
Quantity × Rate
0 SF_GBA × $6.97 = $0
source: baseline
▸ 14Conveying Equipment — Elevators / Conveying$00.0%
Quantity × Rate
0 SF_GBA × $6.97 = $0
source: baseline
▸ 21Fire Suppression — Fire Suppression$00.0%
Quantity × Rate
0 SF_GBA × $4.64 = $0
source: baseline
▸ 22Plumbing — Plumbing$00.0%
Quantity × Rate
0 SF_GBA × $18.58 = $0
source: baseline
▸ 23Heating, Ventilating, and Air Conditioning (HVAC) — HVAC$00.0%
Quantity × Rate
0 SF_GBA × $23.22 = $0
source: baseline
▸ 26Electrical — Electrical$00.0%
Quantity × Rate
0 SF_GBA × $20.90 = $0
source: baseline
▸ 27Communications — Communications / Data$00.0%
Quantity × Rate
0 SF_GBA × $1.16 = $0
source: baseline
▸ 28Electronic Safety and Security — Security / Access Control$00.0%
Quantity × Rate
0 SF_GBA × $1.16 = $0
source: baseline
▸ 31Earthwork — Earthwork$00.0%
Quantity × Rate
0 SF_GBA × $4.64 = $0
source: baseline
▸ 32Exterior Improvements — Exterior Improvements$00.0%
Quantity × Rate
0 SF_GBA × $6.97 = $0
source: baseline
▸ 33Utilities — Site Utilities$00.0%
Quantity × Rate
0 SF_GBA × $4.64 = $0
source: baseline
Soft Costs$9,0005.7%
▸Construction-period property taxes$9,0005.7%
Formula
land value × land millage × construction years
Inputs
  • Land value$150KAcquisition above
  • Land millage (GR)40 mills
  • Years1.50
  • Computed$9K
source: baseline
Financing$00.0%
▸Lender fees / origination$00.0%
Formula
loan amount × lender fee bps
Inputs
  • Loan amount$0Debt sizing
  • Lender fees100 bps (1.00%)Debt assumptions
  • Computed$0
source: baseline
▸Construction loan interest$00.0%
Formula
0.50 (avg outstanding) × loan amount × construction rate × construction years
Inputs
  • Loan amount$0Debt sizing
  • Construction rate7.00%Debt assumptions
  • Construction term18 mo (1.50 yr)Schedule
  • Avg outstanding50%industry default
  • Computed$0
source: baseline
Insurance$00.0%
▸Builder's risk insurance$00.0%
Formula
0.50% × hard cost
Inputs
  • Hard cost$0Cost estimator
  • Rate0.50%
  • Computed$0
source: baseline
Reserves$00.0%
▸Operating reserve (6 months OpEx)$00.0%
Formula
6 months × monthly stabilized OpEx
Inputs
  • Months6
  • Monthly OpEx$0Pro forma
  • Computed$0
source: baseline
▸Lease-up operating reserve$00.0%
Formula
lease-up months × monthly stabilized OpEx × 50% (avg occupancy shortfall)
Inputs
  • Lease-up months10 moSchedule
  • Monthly OpEx$0Pro forma
  • Shortfall factor50%
  • Computed$0
source: baseline
Marketing + Leasing$00.0%
▸Marketing + leasing commissions (initial lease-up)$00.0%
Formula
1 month × gross potential rent (one-time)
Inputs
  • Monthly GPR$0Pro forma
  • Months1.0
  • Computed$0
source: baseline
Total Development Cost$159,000100%

Sources & Uses

SourcesAmount
Construction / Permanent Loan (debt)$0
Sponsor / LP Equity (equity)$159,000
Total Sources$159,000
UsesAmount
Hard Costs$0
Soft Costs$9,000
Contingency$0
GC Fee$0
Developer Fee$0
Other / Reconciliation$150,000
Total Uses$159,000

Land Value (Residual) Solver

Holds the concept, rents, hard cost, and debt assumptions constant. Solves for the maximum acquisition cost that still meets the targets you set, accounting for the soft-cost ripple (loan amount, construction interest, reserves all re-resolve as land moves).

x — leave blank to ignore

% — leave blank to ignore

exit at year N

Debt Sizing

Loan Amount
$0
Annual Debt Service
$0
DSCR (actual)
0.000x
LTC (actual)
0.00%
LTV (actual)
0.00%
Debt Yield
0.00%
Binding
INFEASIBLE
Equity Required
$159,000

Assumptions

Construction rate
7.00%
Permanent rate
6.75%
Amortization
30 yr
IO period
24 mo
Target LTC
83%
Min DSCR
1.20x

DSCR Sensitivity (rent × cost)

Computed from current scenario inputs by re-running the engine for each cell.

Cost ↓ / Rent →-10%BASE+10%
+10%0.000.000.00
BASE0.000.000.00
-10%0.000.000.00

Stabilized Pro Forma

Gross Potential Rent$0
Vacancy Loss (5%)$-0
Effective Gross Income$0
Operating Expenses (36% of EGI)$-0
NOI$0
÷ Exit Cap (6.00%)$0

Cash Flow (12 years)

YrPhaseRevenueOpExNOIDebt ServiceCash FlowEquity Flow
0CONSTRUCTION$0$0$0$0$0$-106,000
1CONSTRUCTION$0$0$0$0$0$-53,000
2LEASE_UP$0$0$0$0$0$0
3STABILIZED$0$0$0$0$0$0
4STABILIZED$0$0$0$0$0$0
5STABILIZED$0$0$0$0$0$0
6STABILIZED$0$0$0$0$0$0
7STABILIZED$0$0$0$0$0$0
8STABILIZED$0$0$0$0$0$0
9STABILIZED$0$0$0$0$0$0
10STABILIZED$0$0$0$0$0$0
11SALE$0$0$0$0$0$0

Incentive Stack

Default stab AV (50% of stabilized value): $0
AI defaults
$0 total · max annual $0
AI defaults
$0 total · max annual $0
AI defaults
$0 total · max annual $0
AI defaults
$0 total · max annual $0
PILOT requires a qualifying affordability commitment.
AI defaults
$0 total · max annual $0
coming soon
coming soon
coming soon
coming soon
Combined Stack Value
$0 (TDC reduction $0, cash-flow savings $0 over 0y)

AI Assumptions

4 total · 0 accepted · 0 overridden · 4 pending
FieldValueSourceConfidenceStateNote
concept.totalUnits0deterministic-defaultMEDIUMPendingInferred from zoning envelope and average unit SF.
concept.parkingTypeTUCK_UNDERdeterministic-defaultMEDIUMPendingPicked by FAR density heuristic.
concept.parkingSpaces0deterministic-defaultMEDIUMPendingDefault parking ratio applied to unit count.
concept.totalRetailSf0deterministic-defaultLOWPending8% of envelope reserved for ground-floor retail in mixed-use districts; zero otherwise.
5story.dev · v1 · cmoivxhp