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Estimate the cap rate for the type of property your company produces based on the following sales. The sales are all very similar to the

Estimate the cap rate for the type of property your company produces based on the following sales. The sales are all very similar to the project you are considering and around the same time frame. (for a 7.15% cap rate, enter 7.15)

Comp Sale Sale Price Gross Rents Operating Expenses
113 Madison Street $1000000 $130000 $60000
8876 Jones Blvd $2350000 $340000 $110000
5436 Carter Road $4750000 $610000 $210000

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