. You are asked to value the following commercial property. Subject property: Space: 30,000 net leasable space (in square feet) Market rent: $13 per square foot Vacancy: 5% Operating expenses: $3 per square foot You have two comparable sales that are close to and similar to your subject property. Comparable sale 1: Sales price: $3,000,000 NOI: $260,000 Comparable sale 2: Sales price: $2,700,000 NOI: $210,000

What is the value of our subject property using the average cap rate derived from comparable sales?

What is the value of our subject property using the average net income multiplier derived from the comparable sales?