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The building has a cap rate of 4.3percentt.
It offered a cap rate of 4.6percentt.
The building sold for 19.5 times the rent roll, and offers a cap rate of 3.7percentt.
The building, with a cap rate of 4.5percentt, was part of a 1031 tax-free exchange from the buyer's sale of another property in New York.
The 47,450-square-foot building sold for 17 times the rent roll and has a cap rate of 3.9percentt.
The 150-foot-wide property, which had been in the same hands since 1994, offered a cap rate of 4.2percentt, and has a J-51 tax exemption in place until June 2031.
Similar(35)
Before you buy, get a cap-rate market report adjusted for local market risk from Local Market Monitor.
It will be hard to judge on just a cap-rate basis since net operating income levels have fallen 3% to 10% in some markets.
In a market with an 8% cap rate, a collection of buildings yielding $80 million in operating income would presumably sell for $1 billion.
Mandel: When we're considering the acquisition of a property that we feel isn't providing as much value as it could, a low cap rate isn't a deal breaker for us.
Assuming no change in expenses, though there would certainly be savings in utilities and repair and maintenance costs, the extra $2,250 in annual income at a 6% cap rate would generate an extra $37,500 of property value per unit.
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