Question: Question 10 10 pts Suppose that a developer builds a 18,000 SF Advance Auto Parts store that leases for $18, absolute net. Land costs for

Question 10 10 pts Suppose that a developer builds a 18,000 SF Advance Auto Parts store that leases for $18, absolute net. Land costs for the 1-acre site are $500,000 and total construction costs including interest and soft costs are $3.5 million. What is the yield on cost or cap rate that the developer will need to sell at to break even? o 7.00% O 7.20% 0 7.50% o 7.70% O 8.10%

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