Real Estate Math
An office building has 20,000 sq ft of leasable space. 2,000 sq ft is vacant. What is the occupancy rate?
A80%
B85%
C90%✓ Correct
D95%
Explanation
Occupancy rate = Occupied ÷ Total = (20,000 − 2,000) ÷ 20,000 = 18,000 ÷ 20,000 = 90%. Apply the appropriate real estate math formula to arrive at the answer.. The correct answer is 90%.. This is a common calculation on the Georgia real estate exam.
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