please help me to edit the following sentences: The formula we use for Cap rate is Cap rate = Annual net operating income / cost (or Value) First of

please help me to edit the following sentences:

The formula we use for Cap rate is

Cap rate = Annual net operating income / cost (or Value)

First of all, we estimate the property value is equal to the total cost. The investment for Bayside will be unfeasible and it will not make money in this case. However, the project still has the potential to earn money in the future. The cap rate is 10.07%.

Secondly, since Bayside developers would obviously want their property value greater than the total cost, we estimate the property value is greater than the total cost which will make the investment feasible. We set the cap rate just a little less than 10.07% which is 8.90%.

Finally, due to some unpredictable risks, the investment also has the probability of failure. This will lead the Bayside project to an unfeasible development which the total cost will be greater than the estimate property value. Therefore, we estimate the cap rate to be 11%, just a little bit greater than 10.07% , since developers do not want the project lose a lot of money.

The range of the estimate cap rate is 8.90%-11.00%, thus, the estimate property value will be $18,827,318.18 - $23,269,719,10. To be more specific, NOI does not need to change in this case, however, it is still a variable when there is something changed in additional vacancy and lower rents of the Bayside project.