Real Estate Math
A Wisconsin commercial building has 10,000 sq ft of leasable space. It is 85% occupied at an average rent of $18/sq ft/year. What is the annual gross income?
A$150,000
B$153,000✓ Correct
C$155,000
D$162,000
Explanation
Occupied area = 10,000 × 85% = 8,500 sq ft. Annual gross income = 8,500 × $18 = $153,000. To solve this, multiply the relevant values: $18 at 85%.. The correct answer is $153,000.. This is a common calculation on the Wisconsin real estate exam.
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