Assume a single tenant property has 100,000 SF of rentable area. The existing revenues are $82 SF/Yr. The market level revenue is $88 SF/Yr. Operating expenses are $40 SF/Yr. Assume the existing lease has a month to month term, and a 4.5% cap rate for this property. What is the delta between the value based on the existing revenue versus the value based on the market level? $10.3 million $13.3 million $30.3 million