Real Estate Math
A Delaware tenant signs a 5-year NNN lease for a 3,200 sq ft retail space at $28/sq ft/year with 3% annual rent increases. What is the rent in Year 2?
A$91,840
B$92,288✓ Correct
C$89,600
D$93,000
Explanation
Year 1 rent = 3,200 × $28 = $89,600. Year 2 = $89,600 × 1.
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