Office properties in the downtown area have recently been selling at a $12$ percent capitalization rate. A subject office property has net operating income of $$1\mathrm{.}5$ million. What is this property's indicated value using the income approach?

A subject property has $2,800$ square feet, $4$ bedrooms, $3$ baths, a $20,000$ square foot lot, brick exterior, and is in "good" condition. The proposed sale price is $$185,000.$