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The Numbers Game

Cap rates: The most famous (and misunderstood) number in commercial real estate

Volodya Gusak Commercial Cap Rates National Nov. 4 2025

A calculator can give you the answer, but it can’t teach you the math. A few years ago, a broker closed a shopping centre sale at a six-per-cent cap rate. To the buyer, it had looked like a steal.

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 P.O. Box 1484, Stn. B
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