NR

Financial Model

Confidential financial projections and offering documents for qualified investors in Neuhoff Ranch LLC.

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Confidential — For Qualified Investors

Financial Model & Offering Documents

Neuhoff Ranch LLC · The Duchess of Del Ray · March 2026
Documents

Download the full materials

The financial model and private placement memorandum contain the complete picture — assumptions, projections, risk factors, and investor terms. Please reach out directly with any questions.

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Financial Model
Full 5-year pro forma with OpCo P&L, PropCo summary, capital stack, debt service schedule, DSCR analysis, and investor return scenarios. Built in Excel — editable and annotated.
Excel · .xlsx · Duchess of Del Ray Model
Download Model →
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Private Placement Memorandum
The full offering document covering the business description, use of proceeds, capital structure, risk factors, and investor terms for the Neuhoff Ranch LLC offering.
Word Doc · Preliminary Draft · Not Attorney-Reviewed
⚠ Draft — Not a Final Offer

This document is a preliminary draft for review purposes only. It has not been reviewed by legal counsel and does not constitute an offer to sell securities. A final attorney-reviewed PPM will be provided before any offering is made.

Download Draft PPM →
Important Notice

These materials are confidential and intended solely for prospective investors who have received access credentials. The financial projections contained herein are estimates based on management assumptions and comparable market data. Actual results may differ materially. This is not an offer to sell securities in any jurisdiction where such an offer would be unlawful. Please consult your financial and legal advisors before making any investment decision.

At a Glance

The numbers in brief

$3.737M
All-In Project Cost
Acq + reno + inventory + WC
$350K
Total Equity
$200K founders + $150K investors
$490K
Year 1 Revenue
~6 month soft open
$1.355M
Year 5 Revenue
Mature full operations
Revenue StreamYr 1Yr 2Yr 3Yr 5Margin
Retail — Home Goods & Entertaining$350,000$550,000$700,000$900,00055%→42%
Bar — NRG-managed (net of 6% fee)$55,000$75,000$95,000$120,00072%
Small Bites (NRG wholesale)$15,000$20,000$28,000$35,00055%
Events & Private Hire$50,000$100,000$160,000$200,00082%
Programming$20,000$40,000$65,000$100,00075%
Total Revenue$490,000$785,000$1,048,000$1,355,000~61% GM
P&L Summary — OpCoYr 1Yr 2Yr 3Yr 4Yr 5
Gross Profit$296,350$479,500$669,750$816,000$866,650
Rent to PropCo($331,941)($341,899)($352,156)($362,721)($373,602)
Payroll$0$0($125,000)($200,000)($200,000)
Other OpEx($50,800)($79,700)($90,960)($100,540)($107,100)
Net Operating Income–$86,391–$57,901+$101,634+$152,739+$185,948
Investor Preferred Distribution (5%)$7,500$7,500$7,500$7,500$7,500

Yr 1–2 NOI losses covered by $100K working capital reserve. Founders keep day jobs through Year 2 — zero payroll until Year 3. Full assumptions and sensitivity analysis in the Excel model.

Capital Structure

Two-LLC structure

PropCo owns the building and services the SBA debt. OpCo runs the business and is where investors participate. The intercompany rent keeps real estate liability ring-fenced from business operations.

NR Holdings LLC
Owns 2100 Mt. Vernon Ave
SBA 504 + 7(a) debt
Receives $332K/yr rent
LB + JG only — no investors
$332K/yr rent →

← hard asset backing
Neuhoff Ranch LLC
Operates retail, bar, events, programming
Pays rent to PropCo
Investors hold 1.5% per $100K
5% preferred return
SBA 504 + 7(a) Stack

Bank 1st ($1.5625M @ 7.5% / 20yr) + CDC 2nd ($1.25M @ 6.5% fixed / 25yr) + 7(a) reno ($500K @ 8.5% / 10yr). Total monthly debt service: $27,227. Annual: $326,721. The 7(a) pays off in Year 10, dropping monthly obligations by $6,199.

The Live-Above Advantage

Founders move into the residence above the store, eliminating their $4,500/month personal mortgage. That's $54,000/year in effective additional income — accepted by SBA lenders as income for owner-occupied commercial real estate underwriting.

Investor Terms

Simple, honest, and built for friendlies

This isn't a venture deal. You get a preferred cash return, a real ownership stake, and a seat at the table in the best new thing on Mt. Vernon Avenue.

1.5%
OpCo Equity
per $100K
5%
Preferred Annual
Return
Hard
Asset Backing
Del Ray RE
Full Investor Overview → Get in Touch →