Build to suit!!! Already approved for a tri-plex. Corner lot with lots of potential. Water, sewer, electricity and gas line already on the property. City will waive building fees for 1,663 sqft which saves you about $40,000 in building fees. Cap rate is based on 149,000 for the lot, 280,000 to build, your cap rate would be 7.5 percent at $430,000 total cost. These are approximate figures.