Complete a cost approach valuation using the following information:

The subject is a 64,000 SF warehouse building (3% of the total square footage has office build-out).

The property has a 160,000 SF parking lot on a 6.60-acre lot.

Land values in the area are $3.50/SF (remember, there are 43,560 SF in an acre).

Building hard costs = $43.00/SF for warehouse and $48.50/SF for interior office build-out (must be added to the base warehouse cost for the portion of the building that has office-build out)

Parking lot costs = $5.50/SF

Soft costs = 11%

Entrepreneurial incentive = 15%

Effective age: 5 years

Economic life: 45 years

Round your answer to the nearest $10,000. Present the final value in whole dollars and $/SF.