Real Estate Math
An Oklahoma commercial property has 15,000 square feet of leasable space, with 12,750 square feet currently leased. What is the occupancy rate?
A85%✓ Correct
B15%
C12.75%
D87.5%
Explanation
Occupancy Rate = Leased Space ÷ Total Space × 100. 12,750 ÷ 15,000 = 0.85 = 85%. Remember: 1 acre = 43,560 square feet. Multiply or divide as needed to convert between units.. The correct answer is 85%.. This is a common calculation on the Oklahoma real estate exam.
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