Back$-$of$-$the$-$Envelope Calculation : Given the following data points, do a back of the envelope

calculation for the Project$$s Total Development Costs? Project Value? Given both these

numbers, would you do the deal? $400,000$ sf $$ $$20\mathrm{.}00$ psf rents, $91\%$ occupancy rates $$

$$7\mathrm{.}50$ psf operating expenses $$ Land Costs $=$ $$8$ million, $$500,000$ in site prep costs $$ $$110$

psf construction costs $10\%$ cap rate