Property Management
A Maine commercial property has 10,000 sq ft of rentable space. The owner charges $18 per sq ft per year. What is the annual gross rent?
A$18,000
B$180,000✓ Correct
C$1,800,000
D$1,800
Explanation
Annual gross rent = 10,000 sq ft x $18/sq ft = $180,000. Using the values given ($18), apply the appropriate formula.. The correct answer is $180,000.. This is a common calculation on the Maine real estate exam.
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