Retail Loan Sizer
100% Gross Potential Income(1)		$
100% CAM Reimbursement		$
	Total Operating Income	$
Less Vacancy and Uncollectables(2)		$ 7.5% 10% 12.5% 15% 20%
	Effective Gross Income	$
Less Expenses(3)
	Taxes	$
	Insurance	$
	Utilities	$
	Management(4)	$
	Trash	$
	Maintenance & Repairs	$
	Parking Lot Control	$
	Administrative	$
	Miscellaneous	$
	Total Operating Expenses	$ % of TOI
Net Operating Income		$
Less
	Total Sq Ft	Sq. Ft.
	Capital Reserves(4)	$ .15 .175 .20 .25
	Tenant Improvement Reserves(5)	$ .60 .70 .80 .90 1.00
	Leasing Commission Reserves(6)	$ .40 .50 .60 .70 .80
	Total Below Line Expense	$
Cash Flow Available to Service Debt		$
Calculator
	Interest Rate	%
	Repayment Schedule(years)	years
	Debt Service Coverage(7)	1.2 1.25 1.3
	Loan Amount	$

Definitions
1. Sum of all actual income assuming 100% occupancy.
2. Input actual vacancy and uncollectables. If input is less than 5% of Gross Potential Income, model will automatically defaut to greater number.
3. Input actual expenses with necessary adjustments for Taxes and Insurance. Use Miscellaneous as a catch all.
4. Input actual management expenses. If input is less than 5% of Effective Potential Income, model will automatically defaut to greater number.
5. Use greater of $.15/sq. ft. or actual.
6. Use greater of $.60/sq. ft. or actual.
7. Use greater of $.40/sq. ft. or actual.
8. Defaults to 1.2 times.