Real Estate Math
A commercial building in Alaska has 18,000 sq ft of rentable space, 90% occupied at $16/sq ft/year. Annual operating expenses are $95,000. What is the NOI?
A$141,000
B$154,000
C$163,200✓ Correct
D$194,800
Explanation
Occupied area = 18,000 × 90% = 16,200 sq ft. Annual rent = 16,200 × $16 = $259,200. NOI = $259,200 − $95,000 = $164,200.
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