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A commercial property has rents of $32/square foot NNN and gross square footage of 132,000 square feet with 93 percent of that rentable (net rentable)

A commercial property has rents of $32/square foot NNN and gross square footage of 132,000 square feet with 93 percent of that rentable (net rentable) . An appraiser has calculated an appropriate capitalization rate of 6.75% with a vacancy rate of 20 percent.

What is the property value?

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