商业运营项目收益测算模板说明及示例-房地产-

('商业运营项目收益测算模板说明（红色字体为变化部分，请注意）基础数据项已知数据项营业税率5.50%建筑面积房产税率12.00%初始投入从支付第一笔土地费始计，包括土地费、建安成本。所得税率25.00%租金收入运营1-10年的基准租金及增长倍数，第11-20年租金水平0增长，与第10年持平。折现率8.00%停车广告等其他年收入运营1-10年的基准年收入及增长倍数，第11-20年收入水平0增长，与第10年持平。折旧年限20年运营成本率运营1-10年的运营成本率，第11-20年与第10年持平，保持不变。运营年限20年每年折旧初始投入总额（E4）/20注：租金及停车广告等年收入需要由运营年份转化为自然年份，如9.28开业的项目第一年的年租金收入只计入3个月。过程数据项商业资产回收值第20年商业物业的出售价值，计入第20年的当期现金净流量收入小计租金收入（E5）+停车广告及其他年收入(E6)房产税租金收入(E5)房产税率(B4)营业税：收入小计(B13)营业税率(B3)营业成本及费用收入小计（E5）运营成本率(E7)-房产税(B14)-营业税(B15)所得税：[收入小计（B13）-营业成本及费用(B16)-房产税(B14)-营业税(B15)-折旧(E8)]所得税率(B5),0税金房产税(B14)+营业税(B15)+所得税(B17)支出小计初始投入(E4)+营业成本及费用(B16)+税金(B18)结论数据项当期现金净流量收入小计(B13)-支出小计(B19)+商业资产回收值(B12)（建设第1年至运营第20年）当期净现值当期现金净流量(B22)按计租年份折现（建设第1年至运营第20年）当期净收益收入小计(B13)-支出小计(B19)+初始投入(E4)（运营第1-20年）考核指标项留存物业价值运营第1年至第20年当期净收益(B24)的净现值留存物业投入初始投入总和留存物业净收益留存物业价值(B27)-留存物业投入(B28)留存物业收益率留存物业净收益(B29)/留存物业价值(B27)内部收益率（IRR）根据建设期第1年至运营第20年当期现金净流量(B22)进行计算动态投资回收期累计净现值为正的运营年份静态投资回收期累计现金净流量为正的运营年份综合收益测算表项目20XX20XX20XX第一年（3）（20XX）第二年（20XX）第三年（20XX）第四年（20XX）第五年第六年第七年第八年第九年第十年第十一年第十二年第十三年第十四年第十五年第十六年第十七年第十八年第十九年第二十年(9个月)合计收入租金收入5,47624,64035,59144,90049,39054,32959,76265,73872,31279,54385,36385,36385,36385,36385,36385,36385,36385,36385,36364,0221,323,971停车广告等其他年收入-5162,3593,4354,1194,4684,6924,9265,1725,4315,6325,6325,6325,6325,6325,6325,6325,6325,6324,224小计5,47625,15637,95048,33553,50958,79764,45370,66477,48484,97490,99590,99590,99590,99590,99590,99590,99590,99590,99568,2471,414,003商业资产回收值639,811支出初始投入214,92761,42561,42561,425399,202营业成本及费用9584,1505,0275,8504,5084,9465,3975,8916,4327,0257,5017,5017,5017,5017,5017,5017,5017,5017,5015,625123,313税金---9584,3408,00911,66613,91315,78817,81120,03522,47725,16127,32027,32027,32027,32027,32027,32027,32027,32027,32019,242405,281房产税6572,9574,2715,3885,9276,5197,1717,8898,6779,54510,24410,24410,24410,24410,24410,24410,24410,24410,2447,683158,877营业税3011,3842,0872,6582,9433,2343,5453,8874,2624,6745,0055,0055,0055,0055,0055,0055,0055,0055,0053,75477,770所得税(扣折旧)-----1,6513,6205,0436,0347,0958,2599,53810,94312,07212,07212,07212,07212,07212,07212,07212,07212,0727,806263,511小计214,92761,42561,42563,3418,49013,03617,51618,42020,73423,20825,92628,90932,18634,82034,82034,82034,82034,82034,82034,82034,82034,82024,868927,796当期现金净流量-214,927-61,425-61,425-57,86616,66624,91430,81935,08938,06341,24544,73948,57552,78856,17556,17556,17556,17556,17556,17556,17556,17556,175683,1901,126,019累计现金净流量-214,927-276,352-337,777-395,643-378,977-354,063-323,244-288,155-250,092-208,847-164,108-115,533-62,745-6,57049,605105,779161,954218,129274,304330,479386,654442,8291,126,019当期净现值-214,927-61,425-61,425-53,58014,28919,77722,65323,88123,98624,06624,17124,30024,45124,09222,30820,65519,12517,70916,39715,18214,05813,016146,577119,337累计净现值-214,927-276,352-337,777-391,357-377,068-357,291-334,638-310,757-286,770-262,704-238,533-214,234-189,783-165,690-143,383-122,727-103,602-85,893-69,496-54,314-40,256-27,240119,337当期净收益3,55916,66624,91430,81935,08938,06341,24544,73948,57552,78856,17556,17556,17556,17556,17556,17556,17556,17556,175683,190计租年份1234567891011121314151617181920面积（平方米）216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000216,000运营年度日租金单价34667789101111111111111111111111运营年度月租金单价84.5126.8169.0185.9204.5224.9247.4272.2299.4329.3329.3329.3329.3329.3329.3329.3329.3329.3329.3329.3自然年度租金单价84.595.1137.3173.2190.5209.6230.6253.6279.0306.9329.3329.3329.3329.3329.3329.3329.3329.3329.3329.3年租金收入5,475.624,640.235,591.444,899.949,389.954,328.959,761.865,738.072,311.879,542.985,363.285,363.285,363.285,363.285,363.285,363.285,363.285,363.285,363.264,022.4停车广告等其他年收入-2,065.23,239.14,021.74,413.04,633.64,865.35,108.65,364.05,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.2自然年度其他年收入-516.32,358.73,434.74,119.54,468.14,691.54,926.15,172.45,431.05,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.25,632.24,224.1收入小计5,475.625,156.537,950.148,334.653,509.458,797.064,453.370,664.177,484.284,974.090,995.390,995.390,995.390,995.390,995.390,995.390,995.390,995.390,995.368,246.5营运成本率35%30%30%25%25%25%25%25%25%25%25%25%25%25%25%25%25%25%25%25%营运成本及房产税营业税1,9168,49011,38513,89613,37714,69916,11317,66619,37121,24322,74922,74922,74922,74922,74922,74922,74922,74922,74917,062折旧19,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,96019,960基础数据表序号项目取值1营业税率5.5%2房产税率12%3所得税率25%4折现率8%指标计算表（万元）序号项目指标值1留存物业价值513,9892留存物业投入399,2023留存物业净收益114,7874留存物业收益率22%5内部收益率（IRR）9%6动态投资回收期20年7静态投资回收期11年数据说明：营业建面216,000平方米；第3年建面租金单价166元/平方米/月，第一年7折；第二年8.5折；第4、5、6、7年每年递增15%；第8、9、10、11年每年递增5%，以后每年递增3%;初始投资共计399107万元；EBITDA率按照第三年以后75%测算，前面3年按照65%、70%、70%车位按每月每个车位1600元计算，广告位每年按500万计算',)