QUESTION 12 If a property has an NOI of $700K, and a comparable property traded at a 5% cap rate, what is a reasonable estimate of the property's value? $13M $13.5M $14.0M $14.5M QUESTION 13 Assume a real estate company pursues a develop-to-sell strategy. This is to say that the company acquires land, develops a building on it, and then leases it up so that its un-leveraged yield on cost is 7%. At the time of sale, at what dispostion cap rate will it make the most money? 8% OOOO