Part $2.$ Valuing a For Sale Apartment Building Using a Combination of Loopnet listing Data Combined with Data You need from the Douglas County Cap Rate Study.

Provided Data from Loopnet $($seller provided data$)$:

A Class $\text{'}A\text{'}$ apartment building in northwest Omaha is listed for sale for $$2\mathrm{.}5$ million. It has $18,000$ square feet $($sft$)$ of rentable space which the owners state they can rent a $$\frac{10}{?}$ sft per year. The owners say that they have a $99\%$ occupancy rate and that their expenses are $25\%$ of EGI. They also claim that an 'appropriate' cap rate to use to value this property is $7\%.$

A$)$ Create a Pro$-$forma Statement and estimate the market value of the property using direct capitalization, using only this data provided by the Loopnet$/$Seller$.$ From your pro$-$forma spreadsheet fill in this summary table with your answers:

Results table Loopnet Based Valuation:

$\backslash$table$[[$PGI$,\backslash$table$[[$Vacancy$],[$Losses$]],$EGI,Expenses,NOI,Mkt Value$],[,,,,,]]$