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The property being appraised is a 50,000 SF light industrial building leased to a single tenant. Net operating income is estimated at $271,989. A review

The property being appraised is a 50,000 SF light industrial building leased to a single tenant. Net operating income is estimated at $271,989. A review of comparable sales indicates a reasonable overall capitalization rate is 8.5%. What is the indicated value of the property using direct capitalization? a. $2,900,000

b. $3,500,000

c. $3,200,000

d. $4,500,000

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