f an investor acquired a building for $5 Million 3 years ago with no debt and the property produced $250,000 of NOI in year 1, $300,000 in year 2 and $275,000 in year 3, what are the equity multiple, returns to date and projected returns assuming the following: Cap Rate for valuation is 5.0% (remember to cap NOI in year after end of valuation period) Projected NOI for years 4, 5 and 6 increase at 4% per annum from year 3 Total hold period is expected to be 5 years.