The appraiser's investigation has revealed a current market rent per square foot for office space of $25. The stabilized vacancy and collection loss in this market is 6% and the overall capitalization rate is 5%. The appraiser needs to determine if a build-to-suit, single-tenant property is feasible in this market. The following table shows data from the market (15 points) 2. 212 S 11.25 $250,000 250,000 Site size in acres Site value per acre to end users Building area (sq. ft.); gross rentable Building cost per sq. ft. of rentable area including entrepreneurial incentive Site preparation and site improvement cost per acre Stabilized vacancy & collection loss (V&CL) $200 20u $120,000 Operating expenses per sq. ft $10 $2,500,000 Operating expenses (OE) Capitalization rate (Ro) Page 9 of 11