Real Estate Math
A commercial building has 15,000 square feet of leasable space. If 12,750 square feet is currently occupied, what is the vacancy rate?
A12.5%
B15%✓ Correct
C85%
D17.5%
Explanation
Vacant space = 15,000 − 12,750 = 2,250 sq ft. Vacancy rate = Vacant ÷ Total = 2,250 ÷ 15,000 = 0.
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