I would suggest determining a valuation of the property, which either your buyer and/or an appraiser will do so as part of a sale, will project income less reasonable operating expenses to determine a NOI (Net Operating Income). Then, once this is determined, a market cap rate will be used to determine value.
At the end of the day, brokers typicall are paid a percentage of the total sales price. I would suggest for this scale deal, a 6-7% commission would be reasonable.
Jan 26, 2010