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A developer has determined that the best use for a site is a mixed - use building with 3 4 units over 7 , 5

A developer has determined that the best use for a site is a mixed-use building with 34 units over 7,500 sf of retail. The unit mix and market rents are provided below.
Assume market vacancy is 5% for the residential component and 10% of the retail component. Other Income is estimated to be 3% of NET rental income. Total Expenses are estimated to be 40% of the Effective Gross Income. Create a stabilized income statement to calcuate the Net Operating Income
For full credit show your work.
\table[[Market Rent,],[Residential,,],[Unit Type,\table[[Number of],[Units]],\table[[Market Rent /],[month]]],[Studio,4,$1,200
Note: PLEASE SHOW WORK WITH EXCEL FUNCTIONS.

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