You have been asked to provide an estimate for the net operating income (NOI) of the Shared Office Space Building. The building consists of 20 suites evenly distributed in 5 floors (4 suites per floor). Today, the offices in the first-floor lease for $1,900 per month, while the rest of the offices lease for $1,400 per month. The market study reveals that the average vacancy in the market is 5% per year; the expected operating expenses are 38% of the effective gross income(EGI); and, the expected capital expenditure are 6% of the EGI each year. The annual market rent increases 4% per year. What is the estimated building's Potential Gross Income, EGI and NOI for next year? If market caprate for this building is 6%, what is the building's value today? You have been asked to provide an estimate for the net operating income (NOI) of the Shared Office Space Building. The building consists of 20 suites evenly distributed in 5 floors (4 suites per floor). Today, the offices in the first-floor lease for $1,900 per month, while the rest of the offices lease for $1,400 per month. The market study reveals that the average vacancy in the market is 5% per year; the expected operating expenses are 38% of the effective gross income(EGI); and, the expected capital expenditure are 6% of the EGI each year. The annual market rent increases 4% per year. What is the estimated building's Potential Gross Income, EGI and NOI for next year? If market caprate for this building is 6%, what is the building's value today