Investment property located in "Salmiya" area with a plot size of $806$ square meters, overlooking two streets corner location. The building is utilized to the highest and best use and contains a basement, ground floor, $18$ typical floors and a roof.Upon inspection, it was found that the effective age of the building is $4$ years and the remaining economic life is $36$ years. The property has an above average material finishing, and the reproduction cost for buildings is as shown below, with indirect costs of $12\%$ of the total reproduction cost. Property land rate is $(1,600$ KD$/$m$2).$subject property units are rented to Families only and the shop is utilized as a restaurant. Assuming vacancy is approximately $6\%$ and the total expanses is $6\%.$ Building areasApartments area.Service areaBasement areaShop and guards quarterReproduction cost $($KD$/$M$2)140801051002$ Real$-$estate Appraisal Main Principles and Methods Case Study Assignment.Please use appraisal assessment methods to arrive at a fair value for the property as of $04/30/2024\mathrm{.}1.$ Calculate the total reproduction cost of the existing building for both $($direct and indirect$)$ cost$\mathrm{.}2.$ Calculate the estimated depreciation rate$\mathrm{.}3.$ Calculate the depreciated reproduction cost of the building$\mathrm{.}4.$ Apply the comparison method to estimated value of the vacant land$\mathrm{.}5.$ Apply the cost method to estimated value of the property $($Improvements $+$ Land$)$ cost$\mathrm{.}6.$ Monthly economic income for licensed areas only$\mathrm{.}7.$ Find the cap rate applied in the area for such property$\mathrm{.}8.$ Apply the income approach method calculate the final value of the property.