NZ Registered Valuer Exam Practice Questions - NZ Valuers Registration Board Registration Examination (New Zealand) Exam

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An industrial cold store building in Hamilton has a gross external area of 1,500 square metres. The replacement construction cost is estimated at $3,000 per square metre. The land value is assessed at $1,500,000. The building is 12 years old, has a total economic life of 40 years, and suffers from $200,000 of functional obsolescence. What is the property value using the Depreciated Replacement Cost (DRC) approach?

$$4,450,000 $$4,650,000 $$4,250,000 $$6,000,000

Correct Answer:

$$4,450,000

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