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STORAGE BUILDING: <br /> (The following cost information is based on the Marshall & Swift Cost Service Handbook -- <br /> Average Class S Service Garage, Low Cost, Section 14, page 31 (September 1997): <br /> MARSHALL SWIFT VALUATION SERVICE COST <br /> ESTIMATE -- STORAGE BUILDING <br /> Price per Square Foot $19.22 <br /> ADJUSTMENTS TO BASE COST /SF: <br /> Add: extreme climate heat (offset, entire 0.00 <br /> building not heated) <br /> Adjusted Basis before Multipliers: $19.22 <br /> MULTIPLIERS: <br /> Story Height 1.00 <br /> Floor Area Perimeter 1.00 <br /> Current Cost 1.03 ■ <br /> Local Multiplier 1.12 <br /> Gross Effective Multiplier 1.154 S <br /> Adjusted Base Cost Per SF $22.18 <br /> Building Area 6,000 s.f. <br /> Total Base Cost $133,079 <br /> Soft Costs and developer profit is based on 6% of <br /> $133,079 or $7,985 $141,065 <br /> Total Building Cost: $141,065 <br /> Rounded to: $141,000 <br /> Total Accrued Depreciation: <br /> Ph Deterioration: <br /> Physical depreciation can be estimated many ways, in this instance the age/life method of <br /> estimating physical depreciation is used. This is based on the Depreciation Section of <br /> Marshall Valuation Service, which indicates the subject has a life expectancy of 30 years. <br /> The subject's estimated effective age is less than the chronological age of 14 years, say <br /> 10 years. As such, the subject has accrued 33% physical depreciation. <br /> 14 <br />