You have been retained by Titan Realty Partners IV$,$ LLC to analyze the potential sale of one of their properties. The building is a twelve $(12)$ story $118,000$ square foot Class A office building with three $(3)$ elevators located in Richmond, Virginia. The building is currently $100\%$ occupied. The rent roll for the building is shown below. Titan purchased the building five years ago for $$20,500,000.$ The allocation of the purchase price between the building and land is $\frac{80}{20}.$ Current capitalization rates are $8\%.$ The current tax rate on ordinary income is $28\%.$

$\backslash$table$[[$Tenant Name,Floor,Square Footage,Lease Expiration,Rent $/$Square Foot$],[,,,,],[99!in$ World,Grade Retail,$14,000,$March $31,2029,$$$100\mathrm{.}00$