Real Estate Math
A Wyoming commercial property has a cap rate of 9% and an NOI of $108,000. What is the property value?
A$972,000
B$1,080,000
C$1,200,000✓ Correct
D$1,350,000
Explanation
Value = NOI ÷ Cap Rate = $108,000 ÷ 0.09 = $1,200,000.
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