Real$-$estate Appraisal Main Principles and Methods Case Study Assignment.Investment property located in "Salmiya" area with a plot size of $487\mathrm{.}5$ square meters, overlooking two internal streets corner location. The building is utilized to the highest and best use and contains a basement, ground floor, $8$ typical floors and a roof. Upon inspection, it was found that the effective age of the building is $10$ years and the remaining economic life is $25$ 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. Similar size property overlooking one street was sold in "Salmiya" last week for $(719,000$ KD$),$ The estimated difference between one street and a corner location land rate is $(100$ KD$/$m$^2).$ subject property units are rented to Families only and the shop is utilized as a restaurant.Building areasReproduction cost $($KD$/$M$^2)$Apartments area$\mathrm{.}130$Service area$75$Basement area$110$Shop and guards quarter$105$ Please use basic assessment methods to arrive at a fair value for the property as of $03/31/2024.1.$ 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.Apply the income approach method calculate the final value of the propertyAPPRAISAL REPORT

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