Real Estate Math
A Vermont commercial property has 5,000 square feet of leasable space renting at $15 per square foot per year. What is the annual gross income?
A$62,500
B$75,000✓ Correct
C$87,500
D$90,000
Explanation
Annual Gross Income = 5,000 sq ft × $15/sq ft/year = $75,000. This gross income figure is used in the income approach before deducting vacancy, operating expenses, and reserves to arrive at Net Operating Income.
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