Subject is a 40,000 SF office building subject to a ground lease with 60 years remaining. Leased to a credit tenant with 11 years remaining on lease, with subsequent options. The ground lease has minimal "bumps" per year, ($1,000 per year). The building rent is stable for the next 11 years. Of course I ran a DCF and an Income Approach, but want to back them up with a SCA. Located in a small market, so no recent sales on ground leases. Used 3 sales of fee simple transactions, and ran a DCF on the next 10 years of the ground lease expense to use as a negative whole dollar adjustment from the fee simple sales. The subsequent value comes into line with the income approaches, just looking here for some validation. Makes sense? Or do I need another cup of coffee this Monday morning?