Real Estate Math
A New Mexico commercial building has 15,000 rentable square feet. The lease rate is $22/sq ft/year NNN. What is the annual base rent?
A$300,000
B$330,000✓ Correct
C$315,000
D$275,000
Explanation
Annual base rent = 15,000 sq ft × $22/sq ft = $330,000. The tenant additionally pays taxes, insurance, and maintenance in a NNN lease.
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