Complete a cost approach valuation using the following information:

The subject is a 44,000 SF warehouse building (12% of the total square footage has office build-out). The property has a 64,000 SF parking lot on a 6.10-acre lot.

Land values in the area are $2.45/SF of land.

Hard costs =

Warehouse building construction: $67.00/SF of building

Interior office build-out: Additional $91.00/SF of building for the square footage of the building with office build-out only (so, a total of $158/SF for the portion of the building that has office-build out)

Parking lot = $7.50/SF of parking lot

Soft costs = 5%

Entrepreneurial incentive = 10%

Effective age: 15 years

Economic life: 50 years

Round your final value to the nearest $10,000. Round all other answers to the nearest dollar.

You must present the following:

Hard costs for the building, in whole dollars

Hard costs for the office build-out, in whole dollars

Hard costs for the parking lot, in whole dollars

Total hard costs, in whole dollars

Soft costs, in whole dollars

Entrepreneurial incentive, in whole dollars

Replacement cost new, in whole dollars

Replacement cost new, in $/SF of building

Depreciation, in whole dollars

Depreciated building cost, in whole dollars

Land value, in whole dollars

Land value, in $/acre

Value from the cost approach, in whole dollars

Value from the cost approach, in $/SF of building