Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Mixed-use feasibility is the sum of its component analyses plus an honest treatment of their interaction. Each use — retail, residential, office, hospitality — must clear its own demand test independently, because cross-subsidy assumptions are where mixed-use pro formas fail. The study then evaluates the genuine synergies: daytime population supporting ground-floor retail, residential rent premiums attributable to amenity adjacency, shared parking economics under time-of-day demand curves. Phasing risk receives explicit treatment, since the financing of later phases typically depends on the performance of the first.
The methodology runs component-level demand analysis to the same standard as our single-use studies, with a consolidated financial model that presents each component as a standalone pro forma alongside the combined statement — the same component-financing architecture the firm has applied to tribal travel-center and strip-retail combinations. Sensitivity analysis runs at both the component and consolidated level.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Mixed-use projects are financed through conventional construction lending most commonly, with SBA 504 applicable to owner-occupied components and USDA programs where rural town-center economics apply; the study allocates uses, costs, and collateral in the manner the program's eligibility rules require.
The firm's component-financing methodology — standalone pro formas per use with combined synergy analysis — was developed across gas-station-plus-retail-strip and town-center engagements, including a $3,969,648 tribal travel center with retail strip in Nevada. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
Qualify a project. Tell us about the project and the program. We will tell you the truth about it — scope, timeline, and fee confirmed before work begins.
Schedule a Zoom Call →