Real Estate Math
A Mississippi commercial building has 20,000 square feet of gross leasable area (GLA). The building is 85% occupied. How many square feet are currently vacant?
A3,000 sq ft✓ Correct
B3,500 sq ft
C2,550 sq ft
D4,000 sq ft
Explanation
Vacant space = GLA × (1 - occupancy rate) = 20,000 × (1 - 0.85) = 20,000 × 0.15 = 3,000 square feet. At 85% occupancy, 15% of the space (3,000 SF) is vacant.
Related Mississippi Real Estate Math Questions
- A Mississippi homeowner sells their primary residence for $425,000. Their adjusted basis is $225,000 and they are married filing jointly. The taxable capital gain is:
- A Mississippi property sells for $175,000. The listing broker's commission is 6%, split equally between listing and buyer's broker. How much does the listing broker receive?
- A Mississippi property has an assessed value of $60,000 and a tax rate of 120 mills. The annual tax is:
- A Mississippi salesperson earns a 3% commission on a $340,000 sale and splits it 60/40 with their broker (salesperson gets 60%). What does the salesperson earn?
- A Mississippi property sold at an 8% cap rate. If the sale price was $500,000, the NOI was:
- A Mississippi property is assessed at $160,000 and the tax rate is $22.50 per $1,000 of assessed value. What is the annual property tax?
- A Mississippi property buyer pays $240,000 for a home. The lender requires a 20% down payment and charges 1.5 points. How much are the points in dollars?
- A Mississippi investment property has a gross rent multiplier of 9.5. Monthly gross rents total $3,200. The estimated value using the GRM method is:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →