How much would the cost be for the subject property (per SF basis) in order to produce a feasibility annual rent of $43.00/SF

Site 5.36 acres

Land value $12.00

Net rentable area of building 89%

Building size 100,000SF

Cap rate 9.25%

Vacancy rate 5%

Management 5.5% of EGI

Real estate taxes 1.2% of value

Variable expenses are $200,000

Fixed expenses $500,000

Replacement reserves $200,000