Deal summary
Eagle Ridge Logistics Center (Sample)
4820 Eagle Ridge Parkway · Fort Worth, TX 76106
IndustrialAcquisition (buy-side)
Generated 2 October 2026 from this deal's own records. Every figure is derived from the rent roll, the expenses and the inputs on the deal page — nothing here is stored or cached.
The property
- Asset class
- Industrial
- Building SF
- 62,000
- Lot acres
- 3.80
- Year built
- 2004
- Year renovated
- 2022
- Stories
- 1
- Buildings
- 1
- Zoning
- I - Light Industrial
- Construction
- Tilt-Up Concrete
- Roof
- Metal
- Parking spaces
- 64
- Industrial outdoor storage
- Yes
- Status at closing
- Fully Leased
- WALT
- 3.5 yrs over 62,000 SF
The deal
Purchase price
$6,200,000
$100.00/SF
Year-1 NOI
$424,753
$6.85/SF
Going-in cap rate
6.85%
Levered IRR
2.99%
Equity required
$2,294,000
Cash-on-cash (yr 1)
3.41%
Year-1 cash flow after debt service, over the equity in
Exit value
$6,176,663
The year after the sale, at the exit cap rate
Net sale proceeds
$2,329,468
Terms and assumptions on file
- Acquisition date
- 1 August 2026
- Hold period
- 5 years
- Exit cap rate
- 7.25%
- Selling cost
- 3.00%
- Rent growth
- 2.50%/yr
- Expense growth
- 2.50%/yr
- Loan amount
- $4,030,000
- Interest rate
- 6.750%
- Amortization
- 25 years
Year one
| Base rent | $443,353 |
|---|---|
| Expense reimbursements | $136,400 |
| Other income | $0 |
| Effective gross income | $579,753 |
| Operating expenses | -$155,000 |
| Net operating income | $424,753 |
| Replacement reserves | -$12,400 |
| Leasing costs (TI and commissions) | $0 |
| Debt service | -$334,125 |
| Capital expenditures | $0 |
| Cash flow to equity | $78,229 |
The first twelve months of the schedule. The acquisition month is day-prorated when the deal does not close on the 1st, so a partial first month is a real one and not an error.
Rent roll
The rent roll is the system of record — NOI is derived from it, never entered.
| Suite | Tenant | SF | % of bldg | Lease type | Commences | Expires | In-place $/SF | Steps | Modelled yr-1 rent |
|---|---|---|---|---|---|---|---|---|---|
| Suite 100 | Meridian Freight Systems | 42,000 | 67.7% | NNN | 1 April 2021 | 31 March 2029 | $7.25 | 3 | $304,500 |
| Suite 200 | Precision Metal Works | 20,000 | 32.3% | NNN | 1 July 2022 | 30 June 2032 | $6.80 | 6 | $136,000 |
| Leased | 62,000 | $440,500 | |||||||
| Vacant | 0 | ||||||||
Modelled yr-1 rent is what the engine has each suite earning in the acquisition month, annualised — not the rate multiplied by the area. Free rent, a mid-month commencement and any percentage rent all sit between the two.
Expenses and capital
Operating expenses
| Category | Annual | Source | Note |
|---|---|---|---|
| Cam | $37,200 | — | |
| Management | $18,600 | — | |
| Reserves | $12,400 | — | |
| Taxes | $80,600 | — | |
| Insurance | $18,600 | — | |
| Total on file | $167,400 | ||
An operating statement line is REPORTED, not contractual. The source column is what the figure was taken from — a T-12, a seller's statement, or nothing stated at all.
$12,400 of that total is replacement reserves, which the model carries BELOW the NOI line — capital, not operating. That is why the year-one operating expense figure above is $155,000 and not $167,400.
Lease rollover
Measured from the acquisition date, as a share of leased SF. A row marked "onward" collects everything expiring at or beyond the hold.
| Hold yr | Window | SF expiring | Share of leased SF | Leases |
|---|---|---|---|---|
| 3 | August 2028 – July 2029 | 42,000 | 67.7% | Meridian Freight Systems (42,000 SF, 31 March 2029) |
| 6 | August 2031 onward | 20,000 | 32.3% | Precision Metal Works (20,000 SF, 30 June 2032) |
67.7% of leased SF — 42,000 SF — expires in hold year 3. Concentrated rollover puts the downtime, free rent and tenant improvements for all of it in one window.
Cash flow by hold year
| Yr | NOI | Debt service | DSCR | CapEx | Cash flow to equity |
|---|---|---|---|---|---|
| 1 | $424,753 | $334,125 | 1.27 | $0 | $78,229 |
| 2 | $436,005 | $334,125 | 1.30 | $0 | $89,170 |
| 3 | $375,545 | $334,125 | 1.12 | $0 | $28,393 |
| 4 | $396,015 | $334,125 | 1.19 | $0 | $35,849 |
| 5 | $439,234 | $334,125 | 1.31 | $0 | $76,026 |
A blank DSCR is a year with no debt service, not a ratio of zero. Cash flow to equity is NOI less reserves, leasing costs, debt service and capital.
At exit
- Exit NOI
- $447,808
- Exit value
- $6,176,663
- Exit NOI, last hold year grown instead
- $450,215
- Exit value, last hold year grown instead
- $6,209,856
- Loan payoff at exit
- $3,661,896
- Net sale proceeds
- $2,329,468
- Levered IRR
- 2.99%
- Total equity required
- $2,294,000
Exit NOI is the year after the sale, August 2031 to July 2032, projected from the leases: their rent steps, and each lease that ends renewed or re-let after its downtime and free rent, at market. Growing the last hold year one more year instead assumes every tenant keeps paying, and would put the exit value $33,193 higher.
What the engine could not model
Modelled on a value nobody entered
Building-wide
| Input | Used | What that asserts |
|---|---|---|
| Credit loss | 0% | Every tenant is modelled as paying every dollar it is billed, every month of the hold — no default, no arrears, no write-off. That collection rate is then capitalised into the exit price at the exit cap rate. |
Each of these is the most optimistic value its field can take, so they do not cancel out — a deal carrying several is not several small roundings but a consistently flattering answer.