Mixed-Use Development Model: Condo and Retail (Updated Nov 2024)

In this post, I walk you through the A.CRE Mixed Use Development Model for Condo and Retail projects. The model is basically a reworked and expanded version of the Condo Development Model, so if you are familiar with that, this should feel and operate very similarly. This model can also be used as a condo only model with the click of a button, which I’ll discuss a bit later. Below is a detailed video walk through  and at the bottom, you can find the link to download the model.

Video – Mixed-Use Development Model – Condo & Retail

In this video, I walk you through how to use my Mixed-Use Condo Development Model.

Version 2.0 – Update Video

Note: the video update is from the Condo Development Model as the major updates to the Condo/Retail model were identical. So, all the updates described in this video will be compatible with this updated model.

What’s Included in the Mixed Use Development Model Condo/Retail

This model includes 10 tabs as follows:

• The Control Room (ControlRoom)
  • This tab will grow over time, but for right now, this section is where you will come to turn the retail component on or off. When off, this model will function as a condo only development model.
• The Summary Tab (Summary)
  • Organized in seven sections to provide a clean and clear overview of the essential metrics and information you would want to get a quick overview. There are a few in inputs on this tab, so be sure to look for the blue text in the following cells: C8:C10, C13, C27, C27, I35.
• The Annual Cash Flow Tab (Annual CF)
  • As described, a roll up of the monthly cash flows into annual periods.
• The Condo Inputs Tab (CondoInputs)
  • This is where all the inputs for the condo component are dialed in. This is also where the financing assumptions can be found. Please watch the video for a detailed walk through.
• Buyer Deposit Tracker Tab
  • If you are using buyer deposits to help fund your development project, the Buyer Deposit tab allows you the option to track deposits from buyers and apply them to pay for development costs. Click here, and check out the Buyer Deposit Module – Condo Development Model video walkthrough, which is perfectly applicable to the Mixed-Use Development model: Condo and Retail.
• The Retail Inputs Tab (RetailInputs)
  • This is where all the inputs for the retail component are dialed in. Again, please watch the video for a detailed walk through.
• The Budget Tab (Budget)
  • This is where all the budget items are input. There is a Budget Inputs section on the right hand side and within that are six sub-sections where you can categorize the budget and then insert line items within. This will then automatically update and format the Budget Summary and Budget Detail section on the left.
•  The Monthly Cash Flow Tab (CF)
  • In this tab, we show all the cash flows over monthly periods from construction to sale. This tab allows us to control the timing and how the cash flows over that time.
• The Custom Monthly Cash Flow Tab (CustCF)
  • If you have a unique cash outflow that doesn’t fit in with any of the options available, you can select custom for the particular line item in the CF tab and come here to input the cash flow.
• The Waterfall Tab (Waterfall)
  • this tab allows you model partnership cash flows over three tiers and using either an IRR or Equity Multiple hurdle.

Download the Mixed-Use Condo/Retail Development Model

To make this model accessible to everyone, it is offered on a “Pay What You’re Able” basis with no minimum (enter $0 if you’d like) or maximum (your support helps keep the content coming – typical real estate DCF models sell for $100 – $300+ per license). Just enter a price together with an email address to send the download link to, and then click ‘Continue’. If you have any questions about our “Pay What You’re Able” program or why we offer our models on this basis, please reach out to either Mike or Spencer.

We regularly update the model (see version notes). Paid contributors to the model receive a new download link via email each time the model is updated.

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Version Notes

v3.1

• Adjusted formula to correctly capture the start and end dates for the custom growth forecasting method (Columns G and I – CF tab)

v3.0

• Added a buyer deposit module
• Incorporated buyer deposit details for financing throughout the model.
• Added warnings (red box) on each tab when loan recalibration is required.

v2.3

• Adjusted typing error in Cell B49 – Summary Tab.
• Adjusted the interest rates index reference from Libor to SOFR.

v2.2

• Adjusted “Sell out Date” formula (Cell E14 – CondoInputs) to correctly capture the cash flow of the “Number of condo units sold in last month”.

v2.1

• Adjusted the name of “Taxes” to “Condo Taxes” for both the “Annual CF” tab (Cell B26) and “CF” tab (Cell C202), to correctly capture that cash flow in the “Annual CF” tab.

v2.0

• Major Summary tab overhaul and redesign
• Moved construction debt assumptions and summary section from the CondoInputs tab to the Summary tab
• Added Recalibrate Loan notifications on the Summary tab

v1.1

• Added error check in CF tab to ensure total cash flow distributed equals total amount budgeted for.
• Added Totals column to draw schedule in CF tab for equity, debt, interest, and loan fees.
• Fixed error to add parking stall revenue to total revenue in CF tab.
• Added parking stall revenue to Annual CF tab
• Fixed error on Net Proceeds calcs on the Annual CF tab

v1.0

• Initial Launch