I'm bidding to appraise a multi-tenant office building as of the date of the owner’s death, which occurred November 2011. As of the date of death there was one vacant commercial space. How should this vacancy be factored in a retrospective pro forma? The pro forma period is the 12 months prior to the date of death. Would it be appropriate to apply market rent to the space and deduct for lease up costs – or to not include this space in PGI? It was vacant for the entire pro forma period. Additionally, the deceased owner started construction of a daylight basement apartment dwelling he intended to occupy. It is in mostly shell condition and the use would be legal, conforming. Any comments on how to deal with these issues is appreciated.