Real Estate Math
A commercial lease provides $24/sq ft/year on 3,500 sq ft. The landlord receives 70% of gross rent after paying 20% to the property manager and 10% for reserves. What does the landlord net annually?
A$58,800✓ Correct
B$67,200
C$84,000
D$50,400
Explanation
Annual gross rent = 3,500 × $24 = $84,000. Landlord keeps 70% = $84,000 × 0.70 = $58,800. To solve this, multiply the relevant values: $24 at 70%.. The correct answer is $58,800.. This is a common calculation on the Nebraska real estate exam.
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