CRE wise you can use this simple equition, but realize that if you are looking for convetional terms it is done on a blended approach.
PGI X 10 x 10 = Income Approach Value. It is approximate but it will give you a sound idea. CRE is appriased by utilizing three different approaches, and then the appraiser will just call the value. Sales Approach or Price per Door, Income Approach factoring CAP Rates, and Replacement Approach for the cost to rebuild the asset.
Aug 21, 2010