Posted by john on October 20, 2009 at 16:36:55:
In Reply to: cap rates posted by bill hughes on October 15, 2009 at 10:32:55:
That's a good question. I would contact a local appraising company. They should be able to tell you what the local cap rates are. I just bought a property and the appraiser based his value based on the other surrounding cap rates. I'm not sure how he had access to the data, but he did. Other wise you will have to do some research yourself. Most cities/counties can tell you what the property sold for and how many square feet the property is. Even though you don't know what the rent rolls are you can at least surmize the cost per square foot.