Calc #3 - Calculating Rent Building base rent is $12 psf and operating expenses are $8 psf. If the tenant has a net lease on $2,000 square feet how much to they pay for first month's rent? Calc #4 - Income Statement Suppose you have a 20 unit apartment building and rents are $1,000 per unit. You have two vacancies, Operating expense are 35% of GPI. In addition to apartment rent you lease out 10 garage spaces for $100/month. What is the NOI of the property