Mixed-use
Apartments over commercial
Thirty units upstairs, an NNN lease at street level. Each side keeps its own terms inside one underwriting, so residential income is never folded into a commercial roll-up.
Two income streams, one model
The commercial side rolls tenant by tenant. The residential side runs on unit count and average in-place rent. They stay separate through the pro forma and meet at NOI, under one debt stack and one waterfall.
- Residential units plus commercial rollover
- Commercial leases keep their own terms
- One capital stack and one waterfall
Residential (30 units)$792kUnit income
Ground-floor retail$286kNNN
Combined NOI$1.02MYear 1
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