You have 11,000 sq ft property = ?? need value or price- right?
Not RENTS -see?

2 comps 12000 sq ft / $450,000
8600 sq ft / $322,500

Now DIVIDE price by sq ft

450,000 divided by 12000 = 37.5
322,500 divided by 8600 = 37.5

37.5 is your Gross Income Multiplier (aka price per sq ft to sell)

Now multiply by sq footage of subject property to find value or cost

37.5 x 11,000 sq ft = 412500.

Subject property valued at app. $ 412,500.00 COST

See how that makes sense? 8600 sq ft= $322,500
11,000 sq ft= $412,500
12,000 sq ft= $450,000

Hope this helps with your homework ! 1veY

I’m going to answer $410,000, although I honestly don’t really care if I’m right or wrong.

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