Calcolatore Tasso di Capitalizzazione Commerciale — Formula
## Commercial Cap Rate Analysis
The cap rate is the primary valuation metric for commercial real estate. It represents the unlevered yield an investor receives based on the property's income production.
### Formula
**Cap Rate = Net Operating Income / Property Value x 100**
**Implied Value = NOI / Cap Rate**
### Cap Rate Ranges by Property Type
- **Class A Office**: 5-7%
- **Retail (NNN)**: 5-7%
- **Industrial/Warehouse**: 5-8%
- **Multifamily (Class A)**: 4-6%
- **Multifamily (Class C)**: 6-9%
- **Self-Storage**: 5-8%
### Cap Rate Compression
When cap rates compress (decrease), property values increase for the same NOI. This happened broadly from 2010-2022 due to low interest rates. Rising interest rates generally cause cap rates to expand.
The cap rate is the primary valuation metric for commercial real estate. It represents the unlevered yield an investor receives based on the property's income production.
### Formula
**Cap Rate = Net Operating Income / Property Value x 100**
**Implied Value = NOI / Cap Rate**
### Cap Rate Ranges by Property Type
- **Class A Office**: 5-7%
- **Retail (NNN)**: 5-7%
- **Industrial/Warehouse**: 5-8%
- **Multifamily (Class A)**: 4-6%
- **Multifamily (Class C)**: 6-9%
- **Self-Storage**: 5-8%
### Cap Rate Compression
When cap rates compress (decrease), property values increase for the same NOI. This happened broadly from 2010-2022 due to low interest rates. Rising interest rates generally cause cap rates to expand.
Esempio Risolto
A commercial property with $120,000 NOI listed at $1,500,000, compared against a 7% target cap rate.
- Current cap rate: $120,000 / $1,500,000 = 8.00%
- Implied value at 7% cap: $120,000 / 0.07 = $1,714,286
- Value difference: $1,714,286 - $1,500,000 = $214,286
- Price per $1 of NOI: $1,500,000 / $120,000 = $12.50
- NOI needed for 7% cap at current price: $1,500,000 x 7% = $105,000