Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An office building situated on a 1 - acre parcel of land has an expected gross income of $ 1 0 6 , 0 0

An office building situated on a 1-acre parcel of land has an expected gross income of $106,000 per year with a vacancy rate of 7.5 percent. What is the value of the property and improvements assuming a gross income multiplier of 6.5? If the land area is worth $45,000 what is the value of the building?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Million Air Exclusive Strategies For Pilots To Build Significant Wealth

Authors: Andy Garrison

1st Edition

1541383095, 978-1541383098

More Books

Students also viewed these Finance questions

Question

Which assets are classified as current assets?

Answered: 1 week ago

Question

What are Mr. Davies ethical obligations in this situation? (D10)

Answered: 1 week ago

Question

List out some inventory management techniques.

Answered: 1 week ago