Real Estate Math
A commercial building in Tulsa has 15,000 sq ft of gross leasable area. The building is 88% occupied. How many square feet are vacant?
A1,500 sq ft
B1,800 sq ft✓ Correct
C1,200 sq ft
D2,000 sq ft
Explanation
Vacant area = 15,000 sq ft x (1 - 0.88) = 15,000 x 0.12 = 1,800 sq ft. Remember: 1 acre = 43,560 square feet. Multiply or divide as needed to convert between units.. The correct answer is 1,800 sq ft.. This is a common calculation on the Oklahoma real estate exam.
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