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Pro Forma NOI Operating Expenses ltem BShe Year 1 Utilities Heat $0.00 $0 Gross Potential Income (GPI) $45.21 $577,344 Electric $0.00 $0 Water and Sewer $0.15 $1,915 - Vacancy and Collection Loss $0.00 $0 Total Utilities $0.15 $1,915 Maintenance = Net Rent Revenue $45.21 $577,344 Landscaping S074 $9,493 Janitorial $1.27 $16,155 + Operating Cost Rent Adjustment $4.34 $55,412 painting and Decorating ae 61,277 = Effective Gross Income (EGI) $49.55 $632,756.1 alFehahes LAber aa00 7a aintenance Contract SO7s $9,271 Plumbing $0.20 $2,554 Electrical $0.20 § 2/554 - Total Operating Expenses $9.24 $118,052 Land Lease $0.00 $0 Total Maintenance S323 $41,304 = Net Operating Income (NOI) $40.31 $514,704 Administration Management Fee $0.99 $12,655 Personnel Expense $0.00 $0 Office Supplies $0.00 $0 Telephone $0.00 $0 Marketing $0.00 SO Total Administration $0.99 $12,655 Fixed Expenses Insurance $3.11 $39,762 Real Estate Taxes $1.61 $20,500 Replacement Reserves $0.15 $1,916 Total Fixed Expenses $4.87 $62,178 Total Operating Expenses $9.24 $118,052 * Building SF = 12,770 SF Page 9 GSA Investment & Acquisition Opportunity | St Thomas, USVI eo Stan Johnson Company | THE NET LEASE AUTHORITY® HOUSE_OVERSIGHT_018735