Determine the capitalized value for the following scenario: A real-estate developer has decided to construct an office building consisting of 25 lease spaces. These spaces have been designed using 5 different floor plans with 1000 SF, 1250 SF, 1500 SF, 1750 SF, and 2000 SF. There are five office spaces of each design. Assume: The spaces rent for an average of 55 cents/SF and There will be a 2% vacancy factor for the office building The developer has indicated that she will incur estimated expenses equal to 22% of the adjusted gross income. Capitalization rate of 10% Market interest rate 6.25% 1. 2. 3. 4. 5