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What is overall cap rate? What does it measure? Two properties sold at cap rate of 9.8% and 12.1%, respectively. These two properties are estimated

What is overall cap rate? What does it measure? Two properties sold at cap rate of 9.8% and 12.1%, respectively. These two properties are estimated to generate similar amount of NOIs next year. What might explain the difference in cap rate between these two properties?

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