Property Valuation
A Florida commercial strip mall has a potential gross income of $240,000, vacancy and credit losses of $24,000, and operating expenses of $96,000. The NOI is:
A$120,000✓ Correct
B$144,000
C$216,000
D$102,000
Explanation
Effective Gross Income = $240,000 − $24,000 = $216,000. NOI = $216,000 − $96,000 = $120,000.
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