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Assume that the annual stabilized NOI for a property is $100,000 with annual expected normalized reserves of $20,000 for tenant improvements, leasing commissions, and capital

Assume that the annual stabilized NOI for a property is $100,000 with annual expected normalized reserves of $20,000 for tenant improvements, leasing commissions, and capital expenditures. What is the implied cash flow cap rate, assuming that the property sold for $1,000,000

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