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Alan 3,100 square metres [m2] office building can be rented for $310 per m2 annually on a gross lease basis in the first year. Annual

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Alan 3,100 square metres [m2] office building can be rented for $310 per m2 annually on a gross lease basis in the first year. Annual vacancy is projected to be 25%. Additional income is generated through the car park rental at a monthly rate of $105 per car park. There are 15 car parks available and all of them have been rented. Annual fixed operating expenses are $36 per m2 and variable expenses are $48 per m2. Estimate the amount of the Net Operating Income [NOI] in the first year for the whole building. Enter your answer rounded to the nearest whole dollar (e.g. 123]

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