Real Estate Math
A commercial property in Tulsa has 5 retail tenants each paying $2,200/month. Annual expenses are $55,000. What is the monthly NOI?
A$6,416.67✓ Correct
B$6,583.33
C$5,000.00
D$11,000.00
Explanation
Annual gross income = 5 x $2,200 x 12 = $132,000. Annual NOI = $132,000 - $55,000 = $77,000.
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