Slide the capitalization rate to see what the portfolio is worth at each return level. Price moves inversely to cap rate — a lower cap rate commands a higher price.
NOI Basis
$NOI / yr
At a cap rate of7.0%
Implied Portfolio Value
$1,870,286
Net Operating Income of $130,920 ÷ 7.0% cap rate
10.0% · Lower ValueHigher Value · 4.5%
Current List
Price / Unit
$10,811
173 units
Price / Sq Ft
$72.55
25,780 RSF
Gross Rent Multiplier
11.97×
price ÷ gross income
Year-One Cash Return
7.0%
all-cash, = cap rate
Current list price $2,800,000 reflects a 4.68% cap rate ·This scenario is $929,714 below list
The Full Walk — 4.5% to 10%
Implied value at each half-point, based on 2025 actual NOI of $130,920
Cap Rate
Implied Value
Price / Unit
Price / SF
GRM
What is a cap rate?
The capitalization rate is the year-one return an all-cash buyer earns: NOI ÷ Price. Rearranged, Price = NOI ÷ Cap Rate.
A lower cap rate means a buyer accepts a smaller return and pays more. A higher cap rate means a buyer wants a larger return and pays less. The right number depends on the asset, the market, and demand.
Basis & assumptions
NOI is actuals-only — no added management fee or replacement reserves.
2025 actual: $156,300 income · $25,380 expense · $130,920 NOI
2024 actual: $159,300 income · $25,330 expense · $133,970 NOI
Portfolio: 173 units · 25,780 rentable SF · 2 facilities
Figures are illustrative and derived from owner-provided actuals believed to be reliable but not independently verified. Implied values are a function of the selected cap rate and the stated NOI; they are not an appraisal, broker price opinion, or guarantee of sale price. Buyers should conduct their own due diligence.