Real Estate Math
A South Carolina building has 8,000 sq ft of gross leasable area (GLA). It is 92% occupied at $22/sq ft/year (NNN). What is the annual base rent from occupied space?
A$161,920✓ Correct
B$176,000
C$158,400
D$152,480
Explanation
Occupied space = 8,000 × 92% = 7,360 sq ft. Annual base rent = 7,360 × $22 = $161,920.
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