Real Estate Math
A Nebraska commercial building leases its 15,000 sq ft at an average rate of $15.60/sq ft/year. The building is valued at $1,800,000. What is the annual GRM based on annual income?
A7.69✓ Correct
B7.32
C8.25
D6.93
Explanation
Annual gross income = 15,000 × $15.60 = $234,000.
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