Real Estate Math

A Florida building has 24,000 gross sq ft. Rentable area is 20,400 sq ft at $24/sq ft/year. Annual gross rent is:

A$489,600✓ Correct

B$576,000

C$420,000

D$430,400

Explanation

Annual gross rent = 20,400 sq ft × $24/sq ft = $489,600. Using the values given ($24), apply the appropriate formula.. The correct answer is $489,600.. This is a common calculation on the Florida real estate exam.

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