Real Estate Math
A 1,200 sq ft office suite in Columbus rents for $24/sf annually, NNN. The tenant's pro-rata share of common areas adds $3/sf. What is the total annual rent?
A$28,800
B$31,800
C$32,400✓ Correct
D$34,200
Explanation
Total rent per sf = $24 + $3 = $27. Total annual rent = 1,200 × $27 = $32,400. Answer C is correct. Using the values given ($24, $3), apply the appropriate formula.. The correct answer is $32,400.. This is a common calculation on the Ohio real estate exam.
Related Ohio Real Estate Math Questions
- If a property depreciates $5,000 per year and was built 15 years ago, what is the total accumulated depreciation?
- A buyer offers $425,000 with a 10% earnest money deposit. What is the earnest money amount?
- A building is 50 years old with a total economic life of 75 years. Using straight-line depreciation, what percentage of value has been depreciated?
- A commercial property is listed for $1,500,000. The buyer offers 95% of asking price. What is the offer amount?
- A broker earns a 7% commission on a commercial sale of $1,200,000. How much is the commission?
- An Ohio property's annual tax is $7,200. The property's assessed value is $120,000. What is the effective mill rate?
- An Ohio home is assessed at 35% of its $320,000 market value. The millage rate is 80 mills. What is the annual property tax?
- A property in Dayton has a market value of $198,000 and is assessed at 35%. The combined millage rate is 90 mills. What is the annual tax?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →