Real Estate Math
A Wyoming commercial building has 10,000 sq ft of gross leasable area. If the building's annual operating expenses are $75,000, what is the expense ratio per square foot?
A$5.00/sq ft
B$6.50/sq ft
C$7.50/sq ft✓ Correct
D$10.00/sq ft
Explanation
Expense ratio per sq ft = Annual operating expenses / GLA = $75,000 / 10,000 = $7.50 per sq ft. Using the values given ($75,000,), apply the appropriate formula.. The correct answer is $7.50/sq ft.. This is a common calculation on the Wyoming real estate exam.
Related Wyoming Real Estate Math Questions
- A Wyoming ranch sells for $1,200,000. The broker charges a 5% commission. How much is the commission?
- If a Wyoming property's assessed value is $180,000 and the mill rate is 65 mills, what is the annual property tax?
- A Wyoming loan has a balance of $195,000 at 6% annual interest. The monthly payment is $1,169. How much of the first payment is principal?
- A Wyoming property sells for $520,000. Recording fees are $250, title insurance is $1,800, and the broker commission is 5.5%. What are the total seller closing costs (excluding loan payoff)?
- A Wyoming property's effective gross income is $120,000, operating expenses are $72,000, and the mortgage payment is $30,000. What is the net operating income?
- A Wyoming ranch sold for $850,000. The broker charged a 5% commission. The listing agent and selling agent each received 50% of the total commission. How much did the listing agent's broker receive?
- A Wyoming listing broker charges a 6% commission on a $425,000 sale, split 50/50. How much does each side receive?
- A Wyoming parcel is described as the N 1/2 of the SW 1/4 of a section. How many acres does it contain?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →