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The subject property has a net operating income of $400,000. You have obtained the following two recent sales data: For sale #1, NOI is $424,200,
The subject property has a net operating income of $400,000. You have obtained the following two recent sales data: For sale #1, NOI is $424,200, selling price is $4,200,000; for sale #2, NOI is $387,200, selling price is $3,400,000. What is the estimated value using the capitalization rate approach ( assign equal weights to the two sales)?
$3,722,967
$3,512,397
$3,960,396
$3,800,000
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