Property Record - 20-22-30-6391-00-010

Orange County Property Appraiser • http://www.ocpafl.org

Property Summary

Property NameFashion Square Mall-Penneys

NamesM M M Lakewood LTD Lllp

MunicipalityORL - Orlando

Property Use1500 - Rtl Reg Mall I

Mailing Address605 E Robinson St Ste 620Orlando, FL 32801-2046

Physical Address3201 E Colonial DrOrlando, FL 32803

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Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Property Record Card for 302220639100010

Value and Taxes

Property Record Card for 302220639100010

Historical Value and Tax Benefits

Tax Year Values Market Value Assessed Value2017201620152014

$30,111,061 (-11%)

$33,801,353 (-23%)

$43,980,239 (39%)

$31,746,791

$30,111,061 (-11%)

$33,801,353 (-3.2%)

$34,921,470 (10%)

$31,746,791

Tax Year Benefits Tax Savings2017201620152014

$0

$0

$106,547 $0

2017 Taxable Value and Estimate of Proposed Taxes

Taxing Authority Assd Value Exemption Tax Value Millage Rate Taxes %Public Schools: By State Law (Rle) $30,111,061 $0 $30,111,061 4.2220 (-7.47%) $127,128.90 22 %Public Schools: By Local Board $30,111,061 $0 $30,111,061 3.2480 (0.00%) $97,800.73 17 %Orange County (General) $30,111,061 $0 $30,111,061 4.4347 (0.00%) $133,533.52 23 %City Of Orlando $30,111,061 $0 $30,111,061 6.6500 (0.00%) $200,238.56 35 %Library - Operating Budget $30,111,061 $0 $30,111,061 0.3748 (0.00%) $11,285.63 2 %St Johns Water Management District $30,111,061 $0 $30,111,061 0.2724 (-5.58%) $8,202.25 1 % 19.2019 $578,189.59

2017 Non-Ad Valorem Assessments

Levying Authority Assessment Description Units Rate AssessmentCITY OF ORLANDO ORLANDO STORM - DRAINAGE - (407)246-2370 40830.66 $1.00 $40,830.66 $40,830.66

Income Pro forma (as of Jan 1st 2017) for Fashion Square Mall-Penneys, which includes parcel(s):

PID DOR Code DOR Description Allocation Percentage20-22-30-6391-00-010 1500 Retail Regional Mall Class I 100%

Note: Pro forma does not contain actual income and expenses specific to this property if provided by the property owner.

Rent RollRentable Area Type Description Restrict

RentEfficiency Ratio

Net Rentable Area

Rent Amount

Rental Period

Annual Rent

41,336 SF Square Feet 100.00% 41,336 $10.00 1 $413,360856 SF Square Feet 100.00% 856 $25.00 1 $21,400382,421 SF Square Feet N 100.00% 382,421 $25.00 1 $9,560,525110,491 SF Square Feet 100.00% 110,491 $10.00 1 $1,104,910

Percent Amount Per SqFt.Potential Gross Income $11,100,195 $20.74

less Vacancy/Collection Loss 40.00% $4,440,078

= Effective Gross Income $6,660,117 $12.45

plus Ancillary Income 0.00% $0 $0.00

= Adjusted Gross Income $6,660,117 $12.45

less Expenses 48.21% $3,210,624 $6.00

= Net Gross Income $3,449,493 $6.45

plus Miscellaneous Income

Property Record Card for 302220639100010

= Net Operating Income $3,449,493 $6.45

Overall Rate 9.50000%

plus Millage Rate/Tax Rate 1.9559%

= Capitalization Rate 11.45590%

Capitalized Value $30,111,061 $56.27

less TPP Amount $0 $0.00

plus Additional Value

(+/-) Total Misc Adjustment

= Income Value $30,111,061 $56.27

Property Features

Property Description

ORLANDO FASHION SQUARE 27/3 LOT 1 (LESS COMM SW COR SEC 20 N 62 FT E 649.7 FT S 86 DEG E 175.41 FT E 847.6 FT N 145FT W 100 FT N 796.96 FT E 364.91 FT N 66 DEG E 42.81 FT S 69 DEG E 22.38 FT N 161.23 FT W 565.28 FT N 34 DEG W 111.85 FTFOR POB TH CONT N 34 DEG W 291.64 FT W 130.1 FT N 64.18 FT N 55 DEG E 359.76 FT S 34 DEG E 418.31 FT S 55 DEG W 288.78FT TO POB) & (LESS COMM SW COR SEC 20 N 62 FT E 649.7 FT S 86 DEG E 175.41 FT E 247.6 FT FOR POB N 780 FT E 140 FT N332 FT E 799.25 FT S 161.23 FT N 69 DEG W 22.38 FT S 66 DEG W 42.81 FT W 364.91 FT S 796.96 FT E 100 FT S 145 FT W 600 FTTO POB) & (LESS ORLANDO FASHION SQUARE 27/3 LOT 1 & ORLANDO OFFICE CENTER 12/62 LOT 1 THAT PORTION MOREPARTICULARLY DESC AS COMM AT NE COR OF LOT 1 OF SAID ORLANDO OFFICE CENTER SAID PT BEING THE POB & LYING ON THESLY R/W LINE OF MAGUIRE BLVD ALSO BEING PT OF CURV CONCAV SE HAV RAD OF 1900 FT & CENT ANG OF 09-29-31 & CHORDBEARING OF S74-10-40W & ARC LENGTH OF 314.76 FT TH S35-25-29E 254.84 FT TH S54-34-31W 166.68 FT TH N35-25-29W 20 FT THS54-34-31W 469 FT TH S35-25-29E 157 FT TH S54-34-31W 177.06 FT TO A PT LYING ON THE ELY R/W LINE OF MCCULLOUGHAVENUE TH S35-25-51E 566.77 FT TH S00-51-11E 43.42 FT TH N89-08-44E 388.14 FT TH N00-51-11W 88.79 FT TH N89-08-44E 52.43FT TH N01-07-09W 366.35 FT TO SE COR OF LOT 1 OF SAID ORLANDO OFFICE CENTER TH N 01-07-09W 911.75 FT TO THE POB)

Total Land Area

1,260,086 sqft (+/-) | 28.93 acres (+/-) GIS Calculated

Land

Land Use Code Zoning Land Units Unit Price Land Value Class Unit Price Class Value1500 - Rtl Reg Mall I AC-3 1260086.8 SQUARE FEET $10.30 $12,978,894 $0.00 $12,978,894

Buildings

Model Code 04 - CommercialType Code 1500 - Rtl Reg Mall IBuilding Value $16,245,209Estimated New Cost $54,150,697Actual Year Built 1973Beds 0Baths 0.0Floors 2Gross Area 585747 sqftLiving Area 571125 sqftExterior Wall Cmt.BrickInterior Wall Dec.Wall.C

Subarea Description Sqft ValueBAS - Base Area 441972 $40,789,596FOP - F/Opn Prch 1907 $52,790FUS - F/Up Story 86823 $8,012,895SAB - Salesa B/A 42330 $4,883,341ULP - Unf L Ptfm 2486 $34,424UST - Unf Storag 10229 $377,651

Model Code 06 - WarehouseType Code 2802 - Parking GarageBuilding Value $7,591,873Estimated New Cost $14,599,756Actual Year Built 1992Beds 0

Subarea Description Sqft ValueUST - Unf Storag 2001 $35,145BAS - Base Area 153392 $5,385,593FUS - F/Up Story 261376 $9,176,911PTO - Patio 1209 $2,107

Property Record Card for 302220639100010

Beds 0Baths 0.0Floors 3Gross Area 417978 sqftLiving Area 414768 sqftExterior Wall Renf.ConcrInterior Wall Minimum

Model Code 04 - CommercialType Code 1300 - Rtl Dept StoreBuilding Value $5,594,864Estimated New Cost $11,704,737Actual Year Built 1993Beds 0Baths 0.0Floors 2Gross Area 129052 sqftLiving Area 110491 sqftExterior Wall Prec.PanelInterior Wall Dec.Wall.C

Subarea Description Sqft ValueULP - Unf L Ptfm 3450 $51,137BAS - Base Area 56954 $5,622,499FST - Fin Storge 15111 $745,928FUS - F/Up Story 53537 $5,285,173

Model Code 06 - WarehouseType Code 2820 - Ped Sky BridgeBuilding Value $146,197Estimated New Cost $220,176Actual Year Built 1992BedsBathsFloors 1Gross Area 720 sqftLiving Area 720 sqftExterior Wall MinimumInterior Wall Minimum

Subarea Description Sqft ValueBAS - Base Area 720 $220,176

Model Code 06 - WarehouseType Code 2820 - Ped Sky BridgeBuilding Value $97,465Estimated New Cost $146,784Actual Year Built 1992BedsBathsFloors 1Gross Area 480 sqftLiving Area 480 sqftExterior Wall MinimumInterior Wall Minimum

Subarea Description Sqft ValueBAS - Base Area 480 $146,784

Property Record Card for 302220639100010

Extra Features

Description Date Built Units Unit Price XFOB ValuePVAS - Pav Asph 04/26/1994 575000 Square Feet $2.00 $287,500ESC3 - Escalator 3 04/26/1994 5 Unit(s) $50,000.00 $250,000CLV1 - Comm Elevator 1 01/01/1992 2 Unit(s) $25,000.00 $50,000FNT2 - Better Quality Fountain 01/01/1994 1 Unit(s) $3,000.00 $3,000

Sales

Sales History

Sale Date Sale Amount Instrument # Book/Page Deed Code Seller(s) Buyer(s) Vac/Imp10/03/1989 $100 19893357280 04121 / 2996 Quitclaim Multiple Mccrory Holding Co M M M Lakewood LTD Lllp Improved

Property Record Card for 302220639100010