Real Estate Math
A Florida commercial building has 20,000 square feet of leasable space at $18 per square foot annually. What is the annual gross rent?
A$180,000
B$280,000
C$360,000✓ Correct
D$420,000
Explanation
Annual gross rent = 20,000 sq ft × $18/sq ft = $360,000. Using the values given ($18), apply the appropriate formula..
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
AmortizationThe gradual repayment of a loan through scheduled periodic payments that cover both principal and interest.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Math Concepts
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