Net operating income (NOI) represents... revenues from operations less operating expenses. the cash flows available for distribution to financial claimants. both of the above neither of the above Which of the following statements best describes a capitalization rate? It is the market return an real estate It is a performance measure explicitly identifying the relationship between year-to-year changes in income and property values over time. It is the unlevered return on an equity investment in the property It is a performance measure expressing the relationship between income and property value at a specific point of time The annual reimbursable expenses for a 42,000 square foot building come to $237,300. What is the expense reimbursement for a tenant occupying 15,000 square feet with an expense stop equal to $4.25/st? 63.750 If the annual expense for utilities is $2.15/sf and utilities are 30% fixed, what is the utility expense based on the occupancy rate? 141.900