You are building a new building:

$8,000$ SF building with an unfinished $500$ SF garage is being built, $$250/$SF finished, $$50/$unfinished cost$.$

Land cost for the $5,000$ SF lot is based on $$300/$SF of land. Depreciation is $2\%$ per year and selling costs are $7\%.$ Not a great economy, builder and developer are marking things up $3$ and $4\%,$ respectively. No sale costs, just a valuation for estate purposes, what is the value?

Answer rating: 100% (QA)

To calculate the value of the building for estate purposes we need to consider the costs associated ... View the full answer