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Capitalization rate (or "cap rate") is a real estate valuation measure used to compare different real estate investments. Although there are many variations, the cap rate is generally calculated as the ratio between the annual rental income produced by a real estate asset to its current market value. Most variations depend on the definition of ...
The bottom mast section is pre-bent which effectively reduces the power of the rig, and the sail is only 4.7 square meters, as opposed to 7 for the Laser Standard or 5.7 for the Laser Radial. (ILCA 6) The smaller sail means that the 4.7 can be easily sailed by sailors weighing only 50–65 kg (110–145 lb), though this boat can still be sailed ...
The Laser Radial is a variant of the Laser Standard, with shorter mast and reduced sail area, allowing light sailors to sail in heavy winds. It raced by women, U18 men and by male masters. It raced by women, U18 men and by male masters.
The Radial uses the same hull and fittings as the Laser Standard, but has a smaller sail (5.8 m 2) than the Standard with a different cut, and has a shorter lower mast section. Optimal weight for this rig is 121 to 159 pounds (55 to 72 kg). The Laser Radial rig has a UK Portsmouth Yardstick number of 1150. [9] Its DPN is 96.7. [10]
The common measure of rental real estate value based on net return rather than gross rental income is the capitalization rate (or cap rate). In contrast to the GRM, the cap rate is not a multiplier but a rate of annual return. A similar multiplier to the GRM derived from net return would be the multiplicative inverse of the cap rate. [2]
Thus, a yearly 5% cap would grow the cap each year by 5%, so that the first year it was a 5% cap, the 2nd year a 10% cap, the third year 15, and so on. Compounded caps allow the yearly percentage increase of the CAM Cap to grow at a compounded rate each year. If actual CAM charges are lower than the cap, the cap does not apply. [2]
This is simply the quotient of dividing the annual net operating income (NOI) by the appropriate capitalization rate (CAP rate). For income-producing real estate, the NOI is the net income of the real estate (but not the business interest) plus any interest expense and non-cash items (e.g. -- depreciation) minus a reserve for replacement.
The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now $195,000) would not exceed the existing value as a residence.