Real Estate Math
A Maine commercial property has a lease with a rent of $24 per square foot per year. The building is 5,500 square feet. Annual gross rent is:
A$110,000
B$120,000
C$126,000
D$132,000✓ Correct
Explanation
Annual gross rent = 5,500 sq ft × $24/sq ft = $132,000. Using the values given ($24), apply the appropriate formula..
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