Real Estate Math
A commercial building in Manhattan has 10,000 sq ft of rentable space leased at $50/sq ft/year. Annual operating expenses are $175,000. What is the annual NOI?
A$500,000
B$325,000✓ Correct
C$675,000
D$175,000
Explanation
Annual gross rent = 10,000 sq ft × $50 = $500,000. NOI = $500,000 - $175,000 = $325,000.
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