If Properties in a Certain Market Are Typically Selling for Prices

question 23

Multiple Choice

If properties in a certain market are typically selling for prices of $100/SF and they are yielding current annual net income of $8/SF, then the typical "cap rate" prevailing in this market is:

• A) $12.50.
• B) $8/SF.
• C) 8%.
• D) Cannot be estimated from the information given.

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Definitions:

Array

A data structure that stores a collection of elements, typically of the same data type, indexed by contiguous integers.

10 X 10

Often connotes a grid or matrix having 10 rows and 10 columns, commonly used in contexts like game design or data representation.

Multidimensional Array

An array that contains one or more arrays, allowing representation of data in a matrix or grid format.

Doubles

A data type in programming that represents floating-point numbers with double precision, allowing for more accurate representations of large or small numbers.